Board of Supervisors Meeting Date: 

Terrence L. Nyhous, Center District Supervisor

October 9, 2008


Staff Lead:


Kevin J. Burke, County Attorney

County Attorney


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 Highland School, Inc.


Topic Description: 

To approve the Industrial Development Authority's (IDA) assistance to Highland School, Inc. in : (1) financing (i) the construction and equipping of a new lower school containing approximately 54,000 square feet, (ii) the construction and equipping of new upper school classrooms containing approximately 5,400 square feet, (iii) renovations to the School's existing upper and middle school facilities, (iv) the construction and equipping of a new lower/middle school gymnasium containing approximately 20,500 square feet, (v) site construction to include additional parking, athletic field additions and renovations, and utility additions and relocations,  and (vi) other capital projects that further the exempt purpose of the School all of which are or will be located on the School's campus in Warrenton, Virginia; (2) refunding all or a portion of the Authority's Educational Facilities Revenue Bond (Highland School, Inc.), Series 1995, issued originally on December 22, 1995 for purposes of constructing, renovating, and equipping various capital improvements to the School's facility located in the Town of Warrenton, Virginia; (3) financing capitalized interest; and (4) financing cost of issuing the bonds (collectively, the "Project"), through the issuance by the Authority of its Bonds.  The Bonds are not an obligation of the County or the IDA.


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

David Richardson, Applicant Bond Counsel

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