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MOTION: STIRRUP June 28, 2005 <br />Regular Meeting <br />SECOND: COVINGTON Ord. No. 05-42 <br />RE: EXPAND THE EXISTING VIRGINIA GATEWAY COMMUNITY <br />DEVELOPMENT AUTHORITY BY THE ADDITION OF <br />APPROXIMATELY 34 ACRES OF LAND — GAINESVILLE <br />MAGISTERIAL DISTRICT <br />ACTION: APPROVED <br />WHEREAS, the Board of County Supervisors of Prince William County, <br />Virginia ("Board of County Supervisors") adopted Ordinance No. 98-72 at its regular meeting <br />of August 4, 1998, as such Ordinance was thereafter amended and restated by Ordinance No. <br />98-101, adopted by the Board of County Supervisors at its regular meeting on December <br />15,1998 ("Ordinance") establishing, among other things, the Virginia Gateway Community <br />Development Authority ("CDA") and the Virginia Gateway CDA Assessment District <br />("District"), including the properties identified by boundary in the plat attached thereto and <br />providing for the levy of a special assessment by the Board of County Supervisors; and <br />WHEREAS, Virginia Gateway Associates L.P. and Virginia Gateway Retail <br />L.C., collectively the owners of at least fifty-one percent of the land area within the District, <br />together with Gateway Center L.C. (the "Petitioner"), the owner of at least fifty-one percent of <br />the land within a tract of approximately 34 acres of land lying adjacent to the District, have <br />properly petitioned (the "Petition") and requested that the Board of County Supervisors expand <br />the boundaries of the District to include such adjacent property and to make certain adjustments <br />to the Virginia Gateway Rate and Method of Apportionment of Assessments attached thereto <br />and made a part thereof which are consistent with the "Apportionment of Benefit" as set forth <br />in Exhibit B to the Rate and Method such that the Assessment Liens as described in the Rate <br />and Method, as modified herein, shall continue to bear a rational relationship to the benefit <br />each Parcel receives from the Public Improvements described in the Rate and Method; and <br />WHEREAS, the expansion of the boundaries of the District will result in an <br />increase in the assessed value of the property within the District subject to assessment lien as <br />additional security for the Virginia Gateway Community Development Authority, Special <br />Assessment Bonds, Series 1999 and Series 2003 issued pursuant to the Indenture of Trust, <br />dated as of February 1, 1999, as thereafter supplemented by a First Supplemental Indenture of <br />Trust, dated as of November 1, 2003 (collectively, the "Indenture"), each by and between the <br />CDA and Wachovia Bank, National Association (formerly, First Union National Bank), as <br />trustee, and any additional bonds issued by the CDA under the Indenture; and <br />WHEREAS, a public hearing was advertised pursuant to the statute and held <br />this date; and <br />