AGENDA REQUEST

Sponsor:

Board of Supervisors Meeting Date:

Chester W. Stribling, Lee District Supervisor

August 16, 2004

Staff Lead:

Department:

Janice Bourne, Finance Director

Finance

Topic:

 

A Resolution Approving the Filing of an Application with the Virginia Public School Authority for a Loan in an Approximate Principal Amount of $4,000,000

Topic Description:

 

 

On May 20, 2004 the County Finance Committee recommended that the Liberty High School Heating, Ventilating, and Air Conditioning (HVAC) project be debt funded.  On June 21, 2004, the Board of Supervisors approved the expenditures for this project.  Authorization is now sought to fund this project through participation in the Virginia Public School Authority (VPSA) 2004 Fall Bond Pool.  Such an application must be filed by August 31, 2004.

 

On July 12, 2004, the School Board approved the attached resolution authorizing application for, and the issuance of, school bonds.  The School Board has contracted with Setty & Associates, Ltd. to evaluate the humidity, moisture, and mold issues existing in the Liberty High School building and to recommend solutions.  The costs of recommended modifications are estimated at approximately $4.8 million, which includes architectural and engineering fees, and contingency.  Funds already allocated for this project total $800,979.  This request is to issue bonds for the remaining necessary funding in the amount of $4,000,000.

 

The recommended remedy to the Liberty High School HVAC system involves replacing the unit ventilators in the classrooms with new four-pipe coil units.  The design documents will be completed in early October.  Bids will be solicited in October with an anticipated project start date of November 2004.  The project is expected to take up to 18 months to complete.

 

Requested Action of the Board of Supervisors:

Consider adoption of the attached resolution.

 

 

Financial Impacts Analysis:

 

The County will incur debt service payments beginning in fiscal year 2006.

 

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

Fauquier County Public Schools

Fauquier County Administration

Fauquier County Budget Office

Fauquier County Treasurer's Office