20051011 R-05-59RESOLUTION NO. R-05-59
A RESOLUTION APPROVING A DEBT SERVICE SCHEDULE AS REQUIRED BY
THE REGIONAL LIBRARY FINAL AGREEMENT BETWEEN THE CITY AND
FAIRFAX COUNTY.
WHEREAS, the construction of the new library has been funded by the City
through the issuance of bonds by the Economic Development Authority, and the monies
required to be paid by the City to the County for non-capital costs and expenses of library
services in accordance with the 2003 General Services Agreement, will be used to pay the
debt service on the bonds; and
WHEREAS, in order to reallocate the monies required to be paid by the City to the
County for non-capital costs and expenses of library services for the purpose of paying the
debt service on the library construction bond proceeds, it is necessary to approve a debt
service schedule as required by the Regional Library Final Agreement with Fairfax County;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
?airfax that the attached debt service schedule for the library construction bond proceeds, as
required by the Regional Library Final Agreement with Fairfax County, is hereby approved,
subject to approval by the County of Fairfax.
ADOPTED this 11th day of October 2005.
IAttest:
I [- -- City Clerk~
Councilwoman Cross Aye
Councilman Greenfield Aye
Councilwoman Lyon Aye
Councilman Rasmussen Aye
Councilman Silverthorne Aye
Councilmember Winter Aye