At a regular meeting of the Board of Supervisors of Albemarle County, Virginia, held on the 10th day of August, 2005, at the time and place established by such Board for its regular meetings in accordance with Section 15.2-1416 of the Code of Virginia of 1950, as amended, at which the following members were present and absent during the voting for the resolution referred to below:
the following resolution was adopted by the affirmative roll call vote of a majority of all members of the Board of Supervisors, the ayes and nays being recorded in the minutes of the meeting as shown below:
RESOLUTION APPROVING THE FILING OF AN APPLICATION WITH THE VIRGINIA PUBLIC SCHOOL AUTHORITY FOR A LOAN IN AN APPROXIMATE PRINCIPAL AMOUNT OF $7,790,000
WHEREAS, the Board of Supervisors (the “Board”) of Albemarle County, Virginia (the “County”), in collaboration with the Albemarle County School Board, has determined that it is necessary and desirable for the County to undertake capital improvements for its public school system;
BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF ALBEMARLE COUNTY, VIRGINIA:
1. The Board hereby approves the filing of an application with the Virginia Public School Authority for a loan to the County in an approximate principal amount of $7,790,000 to finance capital improvements for its public school system. The County Executive, in collaboration with the other officers of the County and the Albemarle County School Board, is hereby authorized and directed to complete an application and deliver it to the Virginia Public School Authority.
2. This resolution shall take effect immediately.
The undersigned Clerk of the Board of Supervisors of Albemarle County, Virginia, certifies that the foregoing constitutes a true and correct extract from the minutes of a regular meeting of the Board held on the 10th day of August, 2005, and of the whole thereof so far as applicable to the matters referred to in such extract.
WITNESS my signature and the seal of the Board of Supervisors of Albemarle County, Virginia, this ____ day of
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