Board of Supervisors Meeting Date: 

Finance Committee

May 14, 2009

Staff Lead:


Janet Romanchyk, Acting Finance Director



A Resolution Providing for the Issuance, Sale and Award of a Taxable Sewer System Revenue Refunding Bond Series 2009, of Fauquier County in the Principal Account Not to Exceed $2,500,000

Topic Description:

In 2001, Fauquier County participated in the Virginia Resource Authorityís pooled bond sale to fund the construction of sewer improvements in the New Baltimore service district.  The refunding of these bonds will result in anticipated present value savings of 7.3867%  without extending the length the debt service schedule which is payable through 4/1/2021.

Requested Action of the Board of Supervisors: 

Consider adoption of the attached resolution.

Financial Impacts Analysis:

Present value savings from cash flow expected - $155,800.38.   Annual savings will be an average of $17,850.

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

Treasurerís Office
Finance Department



1. First Amendment to Financing Agreement

2. Financing Agreement

3. Local Bond Sale Agreement

4. Non Arbitrage Certificate and Tax Compliance Agreement

5. Allonge to 2001 Local Bond


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