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AGENDA
REQUEST Raymond E. Graham, Chairman, Cedar Run District
April 15, 2002 Department,
Organization
Board of Supervisors or
Person Making Request
Meeting Date Anthony I. Hooper, Assistant County
Administrator Staff
Lead & Department Topic
A Resolution
Approving A Plan Of Lease Financing With The Virginia Resources Authority
For The Construction Of A Public Safety Radio Communications System, Approving
The Form Of Certain Documents Prepared In Connection Therewith And Authorizing
The Distribution, Execution And Delivery Of The Same The
Fauquier County Board of Supervisors previously authorized an application
to the Virginia Resources Authority (VRA) to obtain financing for the
public safety radio system. A
series of Board actions are required to participate in the financing with
the VRA. The County’s Board
Counsel, Hunton and Williams, has reviewed these actions.
The amount of the borrowing has been increased to $7,400,000 in
order to provide funding for construction or modification of towers and
the cost of issuance and participation in the pooled bond program.
This funding will provide a total budget of $8,500,000 to include
funds for engineering services, the Motorola contact, tower improvements,
in-building enhancements, a paging system, cost of issuance, and a
$100,000 contingency. Requested Action of the Board of Supervisors Approval of
the plan
for the lease financing between Virginia Resources Authority (VRA) and
Fauquier County, and approving the form of: the lease with
VRA, a local
lease acquisition agreement and the Nonarbitrage Certificate and Tax
Compliance Agreement. Financial Impacts Analysis The Capital
Budget includes an appropriation for this project. The Board of Supervisors previously approved a $7,195,000
contract to purchase the public safety radio system. Identify Any Other Departments, Organizations or Individuals That Would be Affected by This Request Finance |