Support Bonds - Chatham HallRESOLUTION OF THE BOARD OF SUPERVISORS
OF PITTSYLVANIA COUNTY, VIRGINIA
WHEREAS, Chatham Hall (the "School"), a not-for-profit Virginia nonstock
corporation, has requested the Industrial Development Authority of Danville, Virginia (the
"Danville Authority"), to issue its revenue bonds (the "Bonds"), pursuant to the Industrial
Development and Revenue Bond Act, Chapter 49, Title 15.2, Code of Virginia of 1950, as
amended (the "Act"), in an amount not to exceed $6,000,000; and
WHEREAS, the School owns and operates a secondary school whose principal place of
business is located at 800 Chatham Hall Circle, Chatham, Virginia, in Pittsylvania County; and
WHEREAS, the proceeds of the Bonds will be used to finance the acquisition,
development, construction, equipping, improvement and renovation of certain facilities,
including, but not limited to, a dining hall, a kitchen and a lecture hall (collectively, the
"Project"), for the School; and
WHEREAS, Section 147(f) of the Internal Revenue Code of 1986, as amended (the
"Code") and Section 15.2-4905 of the Act require that the governmental unit having jurisdiction
over the area in which any facility financed with the proceeds of the Bonds is located approve
the issuance of such Bonds; and
WHEREAS, Section 147(fJ of the Code requires that any such approval by the
applicable governmental unit be given after a public hearing following reasonable public notice,
which hearing may be held by the public authority issuing the Bonds; and
WHEREAS, on December 3, 2007, in accordance with the requirements of
Section 147(f) of the Code and Section 15.2-4906 of the Act, the Danville Authority held a
public hearing and adopted an inducement resolution approving the issuance of the Bonds (the
"Inducement Resolution"); and
WHEREAS, the School has requested the Board of Supervisors of Pittsylvania County,
Virginia (the "Board"), to approve the issuance of the Bonds to comply with Section 147(f) of
the Code and to concur in the Inducement Resolution to comply with Section 15.2-4905 of the
Act; and
WHEREAS, a copy of the Inducement Resolution, a record of the public hearing and a
fiscal impact statement with respect to the issuance of the Bonds have been filed with the Board.
THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF
PITTSYLVANIA COUNTY, VIRGINIA:
1. The Board hereby approves the issuance of the Bonds by the Danville Authority
for the benefit of the School, as required by Section 147(f} of the Code and concurs with the
Inducement Resolution to the extent required by Section 15.2-4905 of the Act.
2. The approval of the issuance of the Bonds does not constitute an endorsement of
the Bonds or the creditworthiness of the School. Pittsylvania County, Virginia, does not have
any obligation to pay the Bonds or the interest thereon or other costs incident thereto.
3. All acts and doings of the officers and members of the Board that are in
conformity with the purposes and intent of this resolution shall be, and the same hereby are, in
all respects approved and confirmed.
4. This resolution shall take effect immediately upon its adoption.
Adopted by the Board of Supervisors of Pittsylvania County, Virginia, this 18th day of
December, 2007.
A Copy Teste:
Clerk of the Board of Supervisors of
Pittsylvania County, Virginia
[SEAL]
2
CERTIFICATE OF THE CLERK OF THE
BOARD OF SUPERVISORS OF PITTSYLVANIA COUNTY, VIRGINIA
The undersigned Clerk of the Board of Supervisors of Pittsylvania County, Virginia (the
"Board of Supervisors"), hereby certifies as follows:
1. A regular meeting of the Board of Supervisors was held on December 18, 2007, at
which meeting the following duly elected members were present and absent:
PRESENT: Coy E. Harville
M. K. (Kate) Berger
Michael L. Irby
Robert W. Scearce, Jr.
Tim R. Barber
Henry A. (Hank) Davis, Jr.
William H. Pritchett
ABSENT: None
Such members constituted all of the members of the Board of Supervisors on the date of
such meeting.
2. Attached hereto as Exhibit A is a true and correct copy of a resolution (the
"Resolution") duly adopted at such meeting by the [unanimous] vote of the members of the
Board of Supervisors present at such meeting.
3. The Resolution has not been repealed, revoked, rescinded or amended and is, as of
the date hereof, in full force and effect. The Resolution is the only resolution adopted by the
Board of Supervisors related to the issuance by the Industrial Development Authority of
Danville, Virginia, of its Educational Facilities Revenue Note (Chatham Hall Project) Series
2007, for the benefit of Chatham Hall.
WITNESS my hand and seal of the Board of Supervisors of Pittsylvania County,
Virginia, this _ day of December, 2007.
Clerk, Board of Supervisors of Pittsylvania
County, Virginia