RESOLUTION

 

A RESOLUTION GUARANTEEING PAYMENT TO THE FAUQUIER COUNTY WATER AND SANITATION AUTHORITY IN THE AMOUNT OF $3.714 MILLION TO FUND FAUQUIER COUNTYíS SHARE OF THE COST TO EXPAND THE VINT HILL SEWAGE TREATMENT PLANTTO 950,000 GALLONS PER DAY CAPACITY

 

WHEREAS, Virginia Department of Environmental Quality regulations require the Fauquier County Water and Sanitation Authority to upgrade the Vint Hill sewage treatment plant; and

WHEREAS, the Fauquier County Board of Supervisors and the Vint Hill Economic Development Authority have funded the necessary engineering and design work to expand the sewage treatment plantís capacity from its present level to 950,000 gallons per day; and

WHEREAS, the cost of expanding the plant is estimated to be $6.5 million; and

WHEREAS, the Vint Hill Economic Development Authority has previously stated that it would fund 43% of the expansion project; and

WHEREAS, the Fauquier County Board of Supervisors has, by adoption of this resolution, determined that it is in the best interest of the citizens of the County to fund the remaining 57% of the cost for the expansion; now, therefore, be it

RESOLVED by the Fauquier County Board of Supervisors this 9th day of October 2008, That the County of Fauquier does hereby guarantee payment to the Fauquier County Water and Sanitation Authority in the amount of $3.714 million to fund Fauquier Countyís share of the cost to expand the Vint Hill sewage treatment plant to 950,000 gallons per day capacity; and, be it

RESOLVED FURTHER, That the County of Fauquier guarantees that such funding shall be in place on or before the Fauquier County Water and Sanitation Authority awards a contract for the construction of the expansion; and, be it

RESOLVED FINALLY, That the Countyís funding of this expansion shall be on substantially the same terms and conditions as set forth in the Financing Agreement Summary dated September 29, 2008, a copy of which is attached to and made a part of the resolution.

 

 

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