CONSENT AGENDA REQUEST

Sponsor:

Board of Supervisors Meeting Date: 

Raymond E. Graham, Vice-Chairman, Cedar Run District Supervisor

June 14, 2007

Staff Lead:

Department: 

Kevin J. Burke, County Attorney

County Attorney

Topic: 

A Resolution of the Board of Supervisors of the County of Fauquier, Virginia Approving the Issuance of Bonds by the Industrial Development Authority of the County of Fauquier, Virginia for the Benefit of Superior Paving Corporation

Topic Description:

To approve the Industrial Development Authority's (IDA) assistance to Superior Paving Corporation in the acquisition, renovation, construction and equipping of its approximately 48,000 square foot asphalt plant located at 5480 Afton Lane, Warrenton (Fauquier County), Virginia, and the acquisition of a loader for its plant located at 11611 Luck Stone Lane, Bealeton (Fauquier County), Virginia 22172, by the issuance of revenue bonds by the IDA in an amount not to exceed $5,750,000 pursuant to Superior Paving Corp.'s plan of financing.  The bonds are not obligations of the IDA  (except from applicant revenues and security) or the County.

Requested Action of the Board of Supervisors: 

Consider adoption of the attached resolution.

Financial Impacts Analysis:

There are no financial impacts.

Identify any other Departments, Organizations or Individuals that would be affected by this request:

Industrial Development Authority of the County of Fauquier, Virginia

Michael W. Graff, Jr., Applicant Bond Counsel