For Refinancing, Utility Projects
The Board of Supervisors at its April 13 meeting approved a resolution authorizing the issuance and sale of bonds for debt refinancing and utility projects.
The resolution, approved unanimously by the Board, contains $7.8 million of refinancing of existing debt and $1 million for completion of existing wells and construction of new wells. The remainder of the amount covers the cost of the issuance through the Virginia Resource Authority for a total of $9.6 million.
Later in the agenda, the Board also approved a resolution to defease $3.5 million in short-term debt and defer the first principal payment until FY 2012. This also was unanimously approved by members of the Board.
Other highlights of the meeting include:
- Directed Staff to place on the May 11 meeting agenda discussion of a Permanent Auto Decal that would replace the annual renewal.
- Discussed the 2010-11 Revenue Sharing Program and deferred action until the May 25 meeting of the Board of Supervisors.
- Received a report on the progress of the new Spotsylvania Regional Medical Center slated to open June 7.
- Received a budget presentation from Cynthia Green, Director of Social Services.
- Approved the 2011-16 VDOT Six-Year Road Plan and authorized funds remaining from previous road projects be returned to the Proffer Fund.
- Approved amendments to the TV Cable ordinance.
- Discussed a proposal to reduce operating costs for Solid Waste Convenience Sites and deferred action until the May 11 meeting.
- Deferred action until the May 11 meeting on First Reading of an ordinance that would establish conditions at the time of zoning map amendments are presented to the Board of Supervisors.
- Honored retired Judge Horace A. Revercomb, III for his years of service to the 15th Judicial Circuit.
- Honored Diane Corker upon her retirement from the Commissioner of the Revenue’s Office.
- On the consent agenda, approved a request from the VFW and American Legion for use of the Courthouse Lawn for May 31 Memorial Day ceremony.