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File #: ID 18-190    Version: 1 Name: Bond Resolution (Land for New High School)
Type: PH-Action Item Status: Passed
File created: 8/31/2018 In control: City Council
On agenda: 9/11/2018 Final action: 9/11/2018
Title: Consider the issuance of up to $5,285,000 in general obligation bonds to finance the purchase of land for the new high school
Attachments: 1. Memorandum, 2. Bond Sale Agreement, 3. Continuing Disclosure Agreement, 4. Bond Resolution, 5. Public Hearing Notice, 6. executed resolution

Subject:

Title

Consider the issuance of up to $5,285,000 in general obligation bonds to finance the purchase of land for the new high school

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Presented By:  City Staff

 

Recommendation and Review

The city is required by the Code of Virginia to hold a public hearing in advance of the issuance of debt. City Council previously approved the purchase of land for the construction of a new high school. The proceeds from this issuance will be used to finance the purchase of the land which was purchased from James Madison University on August 22, 2018. The public hearing was advertised in the Daily News-Record on August 28, 2018 and September 4, 2018..