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April 19, 2005 <br />Regular Meeting <br />Ord. No. 05-28 <br />Page Two <br />2. Boundaries of CDA. The CDA boundaries shall initially include the <br />property identified in the attached Exhibit A (the "Initial CDA District"), provided, however, <br />that any property listed on Exhibit A under "Other Properties" shall be released and excluded <br />from the CDA District if such property is not acquired by the Landowner by July 31, 2005. In <br />accordance with § 15.2-5157 of the Act, a copy of this Ordinance shall be recorded in the land <br />records of the Circuit Court of Prince William County for each tax map parcel in the CDA <br />district as such CDA district exists at the time of issuance of the CDA's bonds (the "Bonds") <br />and the CDA district shall be noted on the land records of the County. The Board, upon the <br />request of the CDA or the Landowner, may, by resolution, release or exclude from the CDA <br />district (i) at any time before the issuance of the Bonds certain portions of land as long as at <br />least 1,500 acres of land remain in the CDA district and (ii) after the issuance of the Bonds only <br />de minimis portions of land not to exceed approximately ten acres. In addition, the CDA may <br />release and exclude from the CDA district parcels of land with respect to which all special <br />assessments have been paid or prepaid. <br />3. Facilities and Services. The CDA is created for the purpose of <br />exercising the powers set forth in the Act, including financing, constructing, acquiring and <br />developing, and owning and maintaining if necessary, certain improvements in connection with <br />the development of a mixed use development as described in the Petition and the CDA's <br />Articles of Incorporation. The CDA shall have all the powers provided by the Act. The CDA <br />shall not provide services which are provided by, or obligated to be provided by, any authority <br />already in existence pursuant to the Act unless such authority provides the certification required <br />by §15.2-5155 of the Act. <br />4. Articles of Incorporation. Attached as Exhibit B are the proposed <br />Articles of Incorporation of the CDA. The County Executive is authorized and directed to <br />execute and file such Articles of Incorporation on behalf of the Board with the State <br />Corporation Commission in substantially the form attached as Exhibit B with such changes, <br />including insubstantial changes to the boundary description of the CDA district described <br />therein, as the County Executive may approve. The County Executive is authorized to approve <br />such changes or corrections to the Articles of Incorporation prior to filing with the State <br />Corporation Commission as do not change the purpose or function of the CDA as set forth in <br />this Ordinance and in the Petition. <br />5. Capital Cost Estimates. The Board hereby finds, in accordance with <br />§15.2-5103(B) of the Act, that it is impracticable to include capital cost estimates. <br />