CONSENT AGENDA REQUEST
Board of Supervisors Meeting Date:
, Cedar Run District Supervisor
A Resolution to Amend the Debt Referendum Policy
July 1, 2002, the Board of Supervisors
adopted a resolution which established a Debt Referendum Policy
for Fauquier County. Basically, the policy states that all new
construction projects or acquisitions that exceed $10,000,000
require a voter referendum. A referendum is required regardless of
how the project is to be funded.
policy did not specifically address spending funds on a project
prior to a required referendum.
School Division is seeking Board of Supervisors' approval to
expend School Construction Reserve funding for conceptual and
schematic secondary facility designs in preparation for a bond
referendum. Expenditures are proposed to be supported from the
School Construction Reserve.
October 20, 2003, a Board of Supervisors work session was held to
discuss this issue.
response to the work session, a draft modification to the current
Debt Referendum Policy has been prepared for the Board of
Supervisors' consideration. The
modification would specifically allow for reasonable related
expenditures of available cash funds prior to a referendum. These
expenditures are those considered necessary to ensure that
Fauquier County citizens have sufficient information to make an
informed decision on a referendum issue.
funding would not be available to "promote" the
referendum such as for radio air time and newspaper
proposed amended Debt Referendum Policy is attached.
Action of the Board of Supervisors:
Consider adoption of the attached resolution.
funding expended prior to referendum would be supported by
existing cash funding. In the specific case of the School
Division, any funding/expenditure other than from its operating
budget would be in accordance with existing Finance Committee
any other Departments, Organizations or Individuals that would be
affected by this request:
All other departments and County agencies that
would be involved in construction projects requiring a referendum.
RESOLUTION TO AMEND
the Board of Supervisors, through its Capital Improvements Plan process,
has recognized the need for and wishes to encourage enhanced public
participation in the decision making process relating to major new
construction projects due to potential effects of these projects on the
County’s credit rating, debt availability, tax rates and annual
operating budget; and
on June 11, 2001, the Board of Supervisors adopted a Debt Referendum
Policy, effective July 1, 2001, and on October 20, 2003, a work session was held to discuss the
need for and specific elements of amending the policy; and
the Board of Supervisors has determined that it is desirable and necessary
to amend the Debt Referendum
Policy relating to major new facility construction projects and establish
referendum requirement thresholds and other policies relating thereto;
now, therefore, be it
by the Fauquier County Board of Supervisors this 17th day of
November 2003, That the Fauquier County Board of Supervisors does hereby
adopt the following amended Debt Referendum Policy:
new facility construction projects or acquisitions that exceed
$10,000,000 shall be subject to voter referendum, regardless of
expenditures are authorized for reasonable related expenses in
preparation for a referendum. These expenditures may include
preliminary architectural and engineering design work needed to
provide the County citizens adequate details on the referendum issue.
Funding will be in accordance with current Finance Committee policies.
referendum threshold for new facility construction projects shall be
lowered to $2,000,000 in the event that the County has or, through the
issuance of the contemplated debt, will exceed 100% of the County’s
debt capacity. (Debt capacity shall be defined as 10% of General Fund
revenues committed to debt service.)
amended policy shall take effect on
November 18, 2003
referendums shall coincide with the General Election.
Board of Supervisors, by a majority vote of the Board of Supervisors at a
regularly scheduled meeting, may waive the referendum requirement, to the
extent allowed by law, to meet a critical health and/or public safety need
or in conjunction with a court order.