AGENDA REQUEST

Sponsor:

Board of Supervisors Meeting Date:

Raymond E. Graham, Chairman, Cedar Run District Supervisor

September 14, 2006

Staff Lead:

Department:

Vivian McGettigan, Director

Finance

Topic:

A Resolution Providing for the Issuance and Sale of General Obligation School Bonds of the County of Fauquier, Virginia, in a Principal Amount Not to Exceed $39,615,000

Topic Description:

On December 9, 2004, the issuance of $39,615,000 general obligation school bonds was authorized by a resolution adopted by the Board of Supervisors, and approved by the qualified voters of the County at an election held on March 15, 2005, to finance the acquisition, construction and equipping of a new high school in the County. 

Requested Action of the Board of Supervisors:

Consider adoption of the attached resolution.

Financial Impacts Analysis:

This request is to issue and sell bonds for funding needed in the amount not to exceed $39,615,000 for the purpose of financing the construction of a third High School.  The County will incur debt service payments beginning in fiscal year 2008.

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

Fauquier County Public Schools
Fauquier County Administration
Fauquier County Treasurer's Office
Fauquier County Budget Office 

Attachments:

1.      Bond Resolution

2.      Preliminary Official Statement Draft

3.      Notice of Sale and Bid Form