19830111 r-83-4 RESOLUTION NO. R-83-4
A RESOLUTION OF THE COUNCIL OF THE CITY OF FAIRFAX, VIRGINIA
DESIGNATING THE MAYOR AS THE "APPLICABLE ELECTED R~PRESENTATIVE.
AUTHORIZED TO APPROVE THE ISSUANCE OF INDUSTRIAL REVENUE BONDS
BY THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF FAIRFAX,
VIRGINIA,
WHEREAS, the Tax Equity and Fiscal Responsibility Act of 1982 has
amended the Internal Revenue Code by adding thereto Sec. 103(k) pertaining
to certain procedures by which the Industrial Development Authority of the
City of Fairfax, Virginia can issue industrial revenue bonds by providing
in part that the issuance of such bonds must be approved by an "applicable
elected representative,, of the City of Fairfax; and
WHEREAS, the "applicable elected representative,, of the City may
approve the issuance of industrial revenue bonds after a public hearing
following the public notice.
NOW BE IT THEREFORE RESOLVED, that the City Council of the City of
Fairfax does hereby designate and appoint the Mayor of the City as the
"applicable elected representative" of the City for purposes of Sec. 103(k)
of the Internal Revenue Code and authorizes the Mayor to approve the
Issuance of industrial revenue bonds by the Industrial Development Authority
of the City of Fairfax, Virginia. The approval of the Mayor of the
issuance of an industrial revenue bond shall be indicated by the signature
of the Mayor on the resolution of inducement approved by the Industrial
Development Authority of the City of Fairfax, Virginia; and
BE IT FURTHER RESOLVED, that the City Council of the City of Fairfax
concurs that the public hearing required under Sec. 103(k)(2)(B)(i) of
the Internal Revenue Code shall be held by the Industrial Development
Authority of the City of Fairfax, Virginia.
Adopted: January 11, 1983
ATTEST:
C~l~y Cl~rk --