General Obligation Bonds (4) High SchoolsRESOLUTION 2007-06-46
RESOLUTION OF THE BOARD OF SUPERVISORS
OF PITTSYLVANIA COUNTY, VIRGINIA TO INCUR A DEBT IN THE
FORM OF GENERAL OBLIGATIION BONDS AND TO REQUEST
A PUBLIC REFERENDUM ON THE ISSUANCE OF SUCH BONDS
TO FINANCE SCHOOL FACILITIES
WHEREAS, the Pittsylvania County School Board (the "School Board") has
determined that there is a need to undertake a school construction program consisting of
the renovation of four high schools including without limitation new heating and air
conditioning systems and roofs (the "Building Program"), to be financed in part by the
issuance of general obligation bonds of Pittsylvania County, Virginia (the "County") in
the maximum amount of $70,000,000, and
WHEREAS, the School Board adopted a resolution on May 21, 2007 requesting
the Board of Supervisors of the County (the "Board") to request the Circuit Court of
Pittsylvania County, Virginia (the "Circuit Court") to order an election on the question of
contracting a debt and issuing general obligation bonds of the County in the maximum
amount of $70,000,000 for the Building Program; and
WHEREAS, the Board concurs in the need to undertake the Building Program
and desires to determine the interest of the County's qualified voters in issuing debt in the
form of general obligation bonds to finance the cost of such Building Program in the
County; and
WHEREAS, Section 15.2-2640 of the Code of Virginia of 1950, as amended (the
"Code") requires that the purposes for which the bonds are to be issued and the maximum
amount of bonds to be issued be set forth in a resolution; and
WHEREAS, Sections 15.2-2610 and 15.2-2b38 of the Code require that voter
approval be obtained at a referendum before such bonds can be issued, and Section 15.2-
2640 requires that the Board by resolution request the Circuit Court to order an election
on the question of contracting the debt and issuing the proposed bonds;
NOW, THEREFORE BE IT RESOLVED, BY THE BOARD OF
SUPERVISORS OF PITTSYLVANIA COUNTY, VIRGINIA:
1. The Board finds and determines that it is necessary and expedient to
undertake the Building Program, which will promote the public welfare of the County
and its inhabitants.
2. The Board hereby determines that it is advisable to determine the interest
of the qualified voters of the County in the incurrence of debt by the County in the form
of the County's general obligation bonds in an amount not to exceed $70,000,000 to
finance the cost of the Building Program.
3. The Board hereby requests that the Circuit Court, pursuant to Sections
15.2-2610, 15.2-2611 and 24.2-684 of the Code, enter an Order requiring County election
officials to conduct a special election for the qualified voters of the County on November
6, 2007, the day of the general election, and that the referendum question be placed on
the ballot in substantially the following form:
QUESTION: Shall Pittsylvania County, Virginia contract a debt and issue its
general obligation bonds in a principal amount not to exceed $70,000,000
pursuant to the Public Finance Act of 1991, as amended, for the purpose of
financing a school construction program consisting of the renovation of four high
schools including without limitation new heating and air conditioning systems and
roofs?
( }YES
( ) NO
4. The Clerk of the Board shall certify a copy of this resolution to the Circuit
Court.
5. This Resolution shall take effect immediately.
The undersigned Clerk of the Board of Supervisors of Pittsylvania County,
Virginia hereby certifies that the foregoing constitutes a true, correct and
complete copy of a Resolution duly adopted by the Board of Supervisors of
Pittsylvania County, Virginia at a meeting duly called and held on June 4, 2007
during which a quorum was present and acting throughout, by the vote set forth
below, and- that such Resolution has not been repealed, revoked, rescinded or
amended.
Board Member Present/Absent Vote
M. K. "Kate" Berger Yes Yes
Tim R. Barber Yes Yes
Robert W. Scearce, Jr. Yes No
William H. Pritchett Yes Yes
Michael Irby Yes Yes
Henry A. Davis, Jr. Yes Yes
Coy E. Harville Yes Yes
WITNESS my signature as clerk of the Board of Supervisors of
Pittsylvania County, Virginia this 4th day of June, 2(17.
Clerk
Board of Supervisors of Pittsylvania County,
Virginia