19930622 1993-28ORDINANCE NO. 1993-28
ORDINANCE OF THE CITY COUNCIL OF THE CITY OF FAIRFAX,
VIRGINIA, REQUESTING THE CIRCUIT COURT TO ORDER A SPECIAL
ELECTION ON THE ISSUANCE OF GENERAL OBLIGATION PUBLIC
IMPROVEMENT BONDS IN THE MAXIMUM AGGREGATE PRINCIPAL
AMOUNT OF $7,564,000
WHEREAS, the City Council (the "Council") of the City of
Fairfax, Virginia, (the "City"), has been advised that it is
necessary to undertake a program of public improvements as
described in paragraph 2 below, which will promote the health,
safety and public welfare of the City and its inhabitants.
1. The Council determines that it is necessary and expedient
to undertake a program of public improvements for the City as
described in paragraph 2 below, which will promote the public
welfare of the City and its inhabitants.
2. The Council determines that it is advisable to contract
a debt and to issue general obligation bonds of the City in the
maximum amount of $7,564,000 (the "Bonds") pursuant to the City
Charter and the Public Finance Act of 1991 to finance in whole or
in part the following improvements in the following approximate
amounts: (a) $1,708,000 for expansion and improvements to fire
stations owned by the City and the volunteer fire department, (b)
$1,659,000 for expansion and reorganization of the City property
yard, (c) $1,410,000 for street and road improvements, (d) $776,000
for restoration of certain historic properties owned by the City
in the Old Town Fairfax Historic District and the Fairfax Public
School Historic District of the City, and (e) $2,011,000 for storm
water drainage system improvements.
3. The Council requests the Circuit Court of the City of
Fairfax, Virginia, to order an election to be held pursuant to
Sections 15.1-227.12 and 15.1-227.13 of the Act on the question of
contracting a debt and issuing the Bonds for such purposes.
4. The City Clerk is authorized and directed to cause a
certified copy of this Ordinance to be filed with the Circuit Court
of the City of Fairfax, Virginia.
5. This Ordinance
signature by the Mayor.
shall take effect immediately upon
INTRODUCED:
PUBLIC HEARING:
ADOPTED:
June 8, 1993
June 22, 1993
June 22, 1993
ATTEST:
C~y ~erk