Laserfiche WebLink
MOTION:BARG April 1,1997 <br />Regular Meeting <br />SECOND:HILL Res,No~97-240 <br />RE:AUTHORIZE A PUBLIC HEARING TO CONSIDER THE USE OF TAX <br />EXEMPT FINANCING FOR THE LEASE/PURCHASE OF A NEW <br />EMERGENCY ONE MINI-PUMPER/ATTACK UNIT FOR THE <br />YORKSHIRE VOLUNTEER FIRE DEPARTMENT NOT TO EXCEED A <br />LOAN AMOUNT OF $150,000 <br />ACTION:APPROVED <br />WHEREAS,the Yorkshire Volunteer Fire Department budgeted for the <br />leas~’purchaseof an Emergency One mini-pumper/attack unit in their FY 98 budget at a cost not <br />to exceed $150,000;and <br />WHEREAS,that budget has been reviewed by the Board ofDirectors ofthe <br />Fire and Rescue Association;and <br />WHEREAS,the aforementioned acquisition will assist the department in <br />meeting Yorkshire’s adopted FY 97 response time service levels;and <br />WHEREAS,the department will be required to make six yearly principal <br />payments of approximately $25,000 which will be paid with future fire levy funds together with <br />interest also paid out of the fund balance;and <br />WHEREAS,the estimated interest rate is six percent,resulting in interest <br />payments for the first year of $9,000,second year $7,500,third year $6,000,fourth year $4,500, <br />fifth year $3,000,and sixth year $0;and <br />WHEREAS,Section 147(f)of the Internal Revenue Code permits the use oftax <br />exempt financing following a public hearing and the Prince William Board of County <br />Supervisors’approval; <br />NOW,THEREFORE,BE IT RESOLVED that the Prince William Board of <br />County Supervisors hereby directs the Clerk to the Board to advertise a public hearing to be <br />held for the purpose of considering the Yorkshire Volunteer Fire Department using certain <br />forms of tax exempt financing not to exceed $150,000 in accordance with Section 147(f)of the <br />Internal Revenue Code for the purchase of an Emergency One mini-pumper/attack unit; <br />BE IT FURTHER RESOLVED that the Clerk to the Board properly advertise <br />notice ofthe public hearing for the stated purpose in a newspaper of general circulation in Prince <br />William County.