File #: RES 19-019    Version: 1 Name: Resolution for HRHA Bond issuance
Type: Resolution Status: Passed
File created: 10/21/2019 In control: City Council
On agenda: 10/22/2019 Final action: 10/22/2019
Title: Consider the approval of a resolution authorizing the Harrisonburg Redevelopment and Housing Authority to issue up to $15,000,000 in bonds for the acquisition and rehabilitation of Newbridge Village Apartments located in the County of Henrico, Virginia
Attachments: 1. Memorandum, 2. Resolution, 3. Fiscal Impact Statement Board of Supervisors Henrico County, 4. Fiscal Impact Statement HRHA, 5. HRHA Inducement Resolution, 6. executed resolution

Subject:

Title

Consider the approval of a resolution authorizing the Harrisonburg Redevelopment and Housing Authority to issue up to $15,000,000 in bonds for the acquisition and rehabilitation of Newbridge Village Apartments located in the County of Henrico, Virginia

body

Presented By:  City Attorney Brown

 

Recommendation and Review

HRHA is requesting Council pass the above referenced resolution.  Council approval of HRHA’s issuance of the bonds is required by state law.  There is no liability incurred by the City as a result of this approval and the issuance of the Bonds by HRHA.