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