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Home My WebLink AboutCouncil Actions 09-18-06 Wishneff 37530-091806 ROANOKE CITY COUNCIL REGULAR SESSION SEPTEMBER 18, 2006 2:00 P.M. CITY COUNCIL CHAMBER AGENDA 1. Call to Order--RolI Call. (Council Member Mason was absent.) The Invocation was delivered by Mayor C. Nelson Harris. The Pledge of Allegiance to the Flag of the United States of America was led by Mayor Harris. Welcome. Mayor Harris. NOTICE: Meetings of Roanoke City Council are televised live on RVTV Channel 3. Today's Council meeting will be replayed on Channel 3 on Thursday, September 21,2006, at 7:00 p.m., and Saturday, September 23,2006, at 4:00 p.m. Council meetings are offered with closed captioning for the hearing impaired. ANNOUNCEMENTS: THE PUBLIC IS ADVISED THAT MEMBERS OF COUNCIL RECEIVE THE CITY COUNCIL AGENDA AND RELATED COMMUNICATIONS, REPORTS, ORDINANCES AND RESOLUTIONS, ETC., ON THE WEDNESDAY PRIOR TO THE COUNCIL MEETING TO PROVIDE SUFFICIENT TIME FOR REVIEW OF INFORMATION. CITIZENS WHO ARE INTERESTED IN OBTAINING A COpy OF ANY ITEM LISTED ON THE AGENDA MAY CONTACT THE CITY CLERK'S OFFICE, ROOM 456, NOEL C. TAYLOR MUNICIPAL BUILDING, 215 CHURCH AVENUE, S. W., OR CALL 853-2541. THE CITY CLERK'S OFFICE PROVIDES THE MAJORITY OF THE CITY COUNCIL AGENDA ON THE INTERNET FOR VIEWING AND RESEARCH PURPOSES. TO ACCESS AGENDA MATERIAL, GO TO THE CITY'S HOMEPAGE AT WWW.ROANOKEVA.GOV.CLlCKONTHESERVICEICON.CLlCK ON COUNCIL AGENDAS TO ACCESS THE APPROPRIATE AGENDA AND COUNCIL MEETING. IF ADOBE ACROBAT IS NOT AVAILABLE, A PROMPT WILL APPEAR TO DOWNLOAD PRIOR TO VIEWING AGENDA INFORMATION. The Mavor advised that at the Citv's PlanninQ Retreat on AUQust 30. Council reached a consensus that effective October 2. 2006. anv person who wishes to speak at a Citv Council meetinQ will be required to call the Citv Clerk's Office prior to the Mondav Council meetinQ. or reQister with the staff assistant at the entrance to the Council Chamber prior to commencement of the Council meetinQ. Once the Council meetinQ has convened. there will be no further reQistration of speakers. except on public hearinQ matters. ALL PERSONS WISHING TO ADDRESS COUNCIL ARE REQUESTED TO REGISTER WITH THE STAFF ASSISTANT WHO IS LOCATED ATTHE ENTRANCE TO THE COUNCIL CHAMBER. ON THE SAME AGENDA ITEM, ONE TO FOUR SPEAKERS WILL BE ALLOTTED FIVE MINUTES EACH, HOWEVER, IF THERE ARE MORE THAN FOUR SPEAKERS, EACH SPEAKER WILL BE ALLOTTED THREE MINUTES. ANY PERSON WHO IS INTERESTED IN SERVING ON A CITY COUNCIL APPOINTED AUTHORITY, BOARD, COMMISSION OR COMMITTEE IS REQUESTED TO CONTACT THE CITY CLERK'S OFFICE AT 853-2541, OR ACCESS THE CITY'S HOMEPAGE ATWWW.ROANOKEVA.GOV, TO OBTAIN AN APPLICATION. 2 2. PRESENTATIONS AND ACKNOWLEDGEMENTS: NONE. 3. CONSENT AGENDA Approved (6-0) ALL MATTERS LISTED UNDER THE CONSENT AGENDA ARE CONSIDERED TO BE ROUTINE BY THE MEMBERS OF CITY COUNCIL AND WILL BE ENACTED BY ONE MOTION. THERE WILL BE NO SEPARATE DISCUSSION OF THE ITEMS. IF DISCUSSION IS DESIRED, THE ITEM WILL BE REMOVED FROM THE CONSENT AGENDA AND CONSIDERED SEPARATELY. C-l Minutes of the regular meetings of Council held on Monday, June 5, 2006, Monday, June 19, 2006, Monday, July 3, 2006, and Monday, July 17, 2006. RECOMMENDED ACTION: Dispense with the reading of the minutes and approve as recorded. C-2 A communication from Mayor C. Nelson Harris requesting that Council convene in a Closed Meeting to discuss vacancies on certain authorities, boards, commissions and committees appointed by Council, pursuant to Section 2.2-371l(A)(l), Code of Virginia (1950), as amended, and more specifically to consider appointments to the Local Board of Building Code Appeals, Roanoke Civic Center Commission, Towing Advisory Board, Youth Services Citizen Board, Architectural Review Board, and Industrial Development Authority. RECOMMENDED ACTION: Concurred in the request. File #32-110-132-207-249-304-543 C-3 A communication from Mayor C. Nelson Harris requesting that Council convene in a Closed Meeting to discuss the Citizen of the Year, pursuant to Section 2.2-3711 (A)(l 0), Code of Virginia (1950), as amended. RECOMMENDED ACTION: Concurred in the request. File #132-496 C-4 A communication from Council Member Alfred T. Dowe, Jr., Chair, Personnel Committee, requesting that Council convene in a Closed Meeting to discuss the appointment of a new City Clerk, pursuant to Section 2.2- 371l(A)(l), Code of Virginia (1950), as amended. RECOMMENDED ACTION: Concurred in the request. File #38-1 32 3 C-5 A communication from the City Manager requesting that Council convene in a Closed Meeting to discuss disposition of publicly-owned property, where discussion in open meeting would adversely affect the Section 2.2-3711 (A)(3), Code of Virginia (1950), as amended, and more specifically to consider the disposition of the City's Countryside property. RECOMMENDED ACTION: Concurred in the request. File #132-558 C-6 Qualification of the folloWing persons: Stephanie M. Moon as Acting City Clerk of the City of Roanoke, effective September 9, 2006; A. L. Gaskins as a member of the Regional Virginia Alcohol Safety Action Program Policy Board, for a term ending June 30, 2008; William D. Bestpitch as a member of the Roanoke Valley Allegheny Regional Commission, for a term ending June 30, 2009; Harold F. Wallick, Jr., as a member of the Towing Advisory Board, for a term ending June 30, 2009; Juan D. Motley as a member of the Roanoke Civic Center Commission, for a term ending September 30, 2009; and Christie M. Wills as a Commissioner of the Roanoke Redevelopment and Housing Authority, for a term ending August 31, 2010. RECOMMENDED ACTION: Received and filed. File #15-38-110-178-192-326-536-543 REGULAR AGENDA 4. PUBLIC HEARINGS: NONE. 4 5. PETITIONS AND COMMUNICATIONS: a. Joint communication from Mayor C. Nelson Harris and Council Member Gwen W. Mason recommending that the City of Roanoke become a full member of ICLEI - Local Governments for Sustainability (formerly known as International Council for Local Environmental Initiatives). Adopted Resolution No. 37530-091806. (6-0) File #132 6. REPORTS OF OFFICERS: a. CITY MANAGER: BRIEFINGS: NONE. ITEMS RECOMMENDED FOR ACTION: 1. Acceptance of a Runaway and Homeless Youth Outreach Program Grant from the United States Department of Health and Human Services, in the amount of $134,381.00; and appropriation of funds. Adopted Resolution No. 37531-091806 and Budget Ordinance No. 37532-091806. (6-0) File #60-237-304 2. Execution of Amendment NO.1 to the Operating Agreement dated November 10, 2005, with Meadowbrook Golf Group, Inc., for the operation of Countryside Golf Club. Adopted Ordinance No. 37533-091806. (6-0) File #558 b. CITY ATTORNEY: 1. Amendment of the City Code to amend the definition of "moped" in order to be consistent with the State Code. Adopted Ordinance No. 37534-091806. (6-0) File #24-442 5 2. Amendment of the City Code to exempt mandatory gratuities or service charges required to be paid by the purchaser from the food and beverage tax, to a certain percentage. Adopted Ordinance No. 37535-091806. (6-0) File #24 7. REPORTS OF COMMITTEES: a. Request of the Roanoke City School Board for appropriation of funds to various school grants and programs; and a report of the Director of Finance recommending that Council concur in the request. Kenneth F. Mundy, Executive Director of Fiscal Services, Spokesperson. Adopted Budget Ordinance No. 37536-091806. (6-0) File #60-467 8. UNFINISHED BUSINESS: NONE. 9. INTRODUCTION AND CONSIDERATION OF ORDINANCES AND RESOLUTIONS: a. A Resolution authorizing the City's participation in the National League of Cities' Partnership for Working Towards Inclusive Communities. Council Member Lea announced that a Press Conference will be held on Wednesday, September 27 at 10:00 a.m., Room 159, in connection with the above-mentioned item. Adopted Resolution No. 37537-091806. (6-0) File #132-228 b. A Resolution authorizing issuance of not to exceed $7.5 million General Obligation School Bonds to finance a portion of the cost of certain capital improvements at Patrick Henry High School. (Public hearing was held on Monday, June 21, 2004.) Adopted Resolution No. 37538-091806. (6-0) File #53-467 6 10. MOTIONS AND MISCELLANEOUS BUSINESS: a. Inquiries and/or comments by the Mayor and Members of City Council. Council Member Fitzpatrick commended City Staff regarding their efforts in connection with the 9/11 Memorial Service held on Sunday, September 10. File #80-184 Council Member Lea expressed appreciation to the Members of Council and City Manager for their support and contribution of the Western Virginia Education Classic scheduled to be held on Saturday, September 23, 2006 at Ferrum College. File #80-467 b. Vacancies on certain authorities, boards, commissions and committees appointed by Council. c. Expiration of the two-year terms of office of William M. Hackworth, City Attorney; Jesse A. Hall, Director of Finance; Troy A. Harmon, Municipal Auditor; and Mary F. Parker, City Clerk, on September 30, 2006. (A communication was submitted by the City Clerk advising of her retirement, effective October 1, 2006.) Reappointment of William M. Hackworth, City Attorney; Jesse A. Hall, Director of Finance; and Troy A. Harmon, Municipal Auditor, for terms of two years, each, ending September 30, 2008. File #1-83-280 7 11. HEARING OF CITIZENS UPON PUBLIC MATTERS: CITY COUNCIL SETS THIS TIME AS A PRIORITY FOR CITIZENS TO BE HEARD. MATTERS REQUIRING REFERRAL TO THE CITY MANAGER WILL BE REFERRED IMMEDIATELY FOR RESPONSE, RECOMMENDATION OR REPORT TO COUNCIL. Ms. Evelyn D. Bethel, 35 Patton Avenue, N. E., expressed her disappointment regarding the citizen participation at the City Council meetings, effective October 2. File #66-132 Ms. Helen Davis, 35 Patton Avenue, N. E., expressed concern regarding the lack of respect for citizens who appear before City Council. File #66-132 12. CITY MANAGER COMMENTS: The City Manager introduced Brian Brown, Economic Develop Administrator. CERTIFICATION OF CLOSED SESSION. (6-0) Barbara A. Botkin and Lora J. Katz were reappointed as members of the Architectural Review Board, for terms ending October 1, 2010. File #15-110-249 Allen D. Williams was reappointed as a member of the Industrial Development Authority, for a term ending October 20, 2010. (Waived City residency requirement.) File #1 5-110-207 THE COUNCIL MEETING WAS DECLARED IN RECESS TO BE RECONVENED AT 7:00 P.M., IN THE CITY COUNCIL CHAMBER, ROOM 450, NOEL C. TAYLOR MUNICIPAL BUILDING. 8 ROANOKE CITY COUNCIL REGULAR SESSION SEPTEMBER 18, 2006 7:00 P.M. CITY COUNCIL CHAMBER AGENDA Call to Order -- Roll Call. (Council Member Mason was absent.) The Invocation was delivered by Council Member Alfred T. Dowe, Jr. The Pledge of Allegiance to the Flag of the United States of America was led by Mayor C. Nelson Harris. Welcome. Mayor Harris. NOTICE: Meetings of Roanoke City Council are televised live on RVTV Channel 3. Tonight's Council meeting will be replayed on Channel 3 on Thursday, September 21,2006, at 7:00 p.m., and Saturday, September 23,2006, at 4:00 p.m. Council meetings are offered with closed captioning for the hearing impaired. 9 A. PUBLIC HEARINGS: 1. Request of Haitian Sinai Baptist Church that property located at 2905 Cove Road, N. W., be rezoned from R-7, Residential Single Family District, to INPUD, Institutional Planned Unit Development District, to allow for a place of worship. Castin Mesadieu, Pastor, Spokesperson. Adopted Ordinance No. 37539-091806. (6-0) File #51 2. Approval of the issuance of general obligation bonds in an amount estimated not to exceed $2.1 million for financing capital improvements for Monterey Elementary School. George J. A. Clemo, Attorney. Adopted Resolution No. 37540-091806. (6-0) File #53-467 3. Amendment to the boundaries of Enterprise Zone One A and Enterprise Zone Two and its Subzone, and modifying local incentives for each zone. Darlene L. Burcham, City Manager. Adopted Resolution No. 37541-091806, Ordinance No. 37542-091809, Resolution No. 37543-091806, Ordinance No. 37544-091806 and Budget Ordinance No. 37545- 091806. (6-0) File #60-266 4. Proposal of the City of Roanoke to lease to Francine Barish-Stern Bray, d/b/a Creations, 284 square feet of space in the City Market Building located at 32 Market Square, for a term of one year. Darlene L. Burcham, City Manager. Adopted No. 37546-091806. (6-0) File #42-373 10 5. Proposed adjustment to the aggregate amount of the City's fiscal year 2006-2007 Annual Budget; authorization for the City Manager to execute a Memorandum of Understanding with the School Board to provide for the sale of motor fuel to the school system; and appropriation of funds. Darlene L. Burcham, City Manager. (The public hearing will be rescheduled to be held on Monday, October 2, 2006, at 2:00 p.m., in the City Council Chamber.) The public hearing was rescheduled to be held on October 2, 2006, at 2:00 p.m., in the City Council Chamber. File #60-467 6. Proposal of the City of Roanoke to convey to Appalachian Power Company an easement across City-owned property to provide electric service to the new Fire-EMS Headquarters Building located at Elm Avenue and Franklin Road, S. W. Darlene L. Burcham, City Manager. Adopted Ordinance No. 37547-091806. (6-0) File #29-70 B. HEARING OF CITIZENS UPON PUBLIC MATTERS: NONE. CITY COUNCIL SETS THIS TIME AS A PRIORITY FOR CITIZENS TO BE HEARD. MATTERS REQUIRING REFERRAL TO THE CITY MANAGER WILL BE REFERRED IMMEDIATELY FOR RESPONSE, RECOMMENDATION OR REPORT TO COUNCIL. 11 ;,..~.:.~,~.r~~ ~~~j.~I~\ i"~iJ;+.""'~';\\ l'~"·. 1i~" ) \_~;;;,,¡. '''', '" ~:;.~~ -, . . <~~/:'.~~'::L:.?·"· . CITY (W ROANOKE OFFICE OF THE MAYOR è I) CHURCH .'WE!'I.II;. S.\\'.. R(J()\l ~:iè RnAKOKI'. VIRGJ'IJA è4oll·[:i'q 1"I.l.n'IH );>..1:: ;....·11), :-.~.¡ ~-1.: 1 1.\.\: 1~...od':'''.~-ll...~ C. NEI.SON IIAIŒ.IS .'I¡¡.~ or September 18, 2006 The Honorable Vice-Mayor and Members of the Roanoke City Council Roanoke, Virginia Dear Members of Council: This is to request a Closed Meeting to discuss vacancies on certain authorities, boards, commissions and committees appointed by Council, pursuant to Section 2.2-3711 (A)(1), Code of Virginia (1950), as amended, and more specifically to consider appointments to the Local Board of Building Code Appeals, Roanoke Civic Center Commission, Towing Advisory Board, Youth Services Citizen Board, Architectural Review Board, and Industrial Development Authority. Sincerely, c..1tdw..~ C. Nelson Harris Mayor CNH:snh CITY OF ROANOKE OFFICE OF THE MAYOR 215 CHl:RCH AVE:-JlIF. SW.. ROOM 452 ROAM.lKL VIRGI:-JIA 24011-15')4 rU.EI'IItISI:: ()·Wl S5.L~·I·~_1 I"A\: /5-UIS.'.: 11-1.'1 C 'ŒI.SO:-J HARRIS :\ln~·lIr September 18, 2006 The Honorable Vice-Mayor and Members of the Roanoke City Council Roanoke, Virginia Dear Members of Council: This is to request a Closed Meeting to discuss the Citizen of the Year, pursuant to Section 2.2-3711 (A)(10), Code of Virginia (1950), as amended. Sincerely, c...1(c.hftc.. ~ C. Nelson Harris Mayor CNH:snh CITY OF ROANOKE CITY COUNCIL 215 Church AvcnUl.... S. w. I\"oel C. Taylor Municipal Building. ROllm 456 ROilIlOkt:. Virginia ::!4011-1:'i.1Ó Tokphono: 1540) ~5.J-2541 Fax: 1540) X5J-1145 September 18, 2006 Coum.'j( Memhers: AlfrL'd T. Do\l,'(". Jr. Bcvc.:r1y T. Fitzpatrick. Jr. Shl'nnan r. Lea Gwen W. Mason Da\'id B. Tnnkk' Brian J. WishnctT C. NELSON HARRIS Ma)ur The Honorable Mayor and Members of the Roanoke City Council Roanoke, Virginia Dear Mayor Harris and Members of Council: This is to request a Closed Meeting to discuss the appointment of a new City Clerk, pursuant to Section 2.2-3711 (A)(1), Code of Virginia (1950), as amended. With kindest regards, I am A TDJr:snh CITY OF ROANOKE OFFICE OF THE CITY MANAGER N(lel C. Taylor \1unicipa Building 2.13 Church Avcnlll', S.\V.. RlHlnl 364 RUillloke, Virginia 24011-I~9] TI'lq~lwnl" (r.-ll)) :-.5:;-:!.1~.ì F,E'.: (5·U"!¡ sr~1_1 ps City \\'\,[1: \,'W\'" r,',II1\,kl.'\".1 ~l'\' September 18, 2006 The Honorable Mayor and Members of City Council Roanoke, Virginia Subject: Request for closed meeting Dear Mayor Harris and Council Members: This is to request that City Council convene a closed meeting to discuss the disposition of publicly-owned property, where discussion in open meeting would adversely affect the bargaining position or negotiating strategy of the public body, pursuant to §2.2-3711.A.3, Code of Virginia (1950), as amended, and more specifically to consider the disposition of the City's Countryside property. Sincerely, Darlene L. Burcham City Manager DLB/f cc: William M. Hackworth, City Attorney Jesse A. Hall, Director of Finance Stephanie M. Moon, Acting City Clerk Oath or Affirmation of Office Commonwealth of Virginia, City of Roanoke, to-wit: I, Stephanie M. Moon, do solemnly affirm that I will support the Constitution of the United States of-America and the Constitution of the Commonwealth of Virginia, and that I will faithfully and impartially discharge and perform all the duties incumbent upon me as Acting City Clerk of the City of Roanoke, effective September 9, 2006, until such time as a successor Acting City Clerk or City Clerk is elected or appointed by City Council, according to the best of my ability. ~ 4J~Aß/ Ir?, '-Ì71~ [ !Þ ,4 Subscribed and sworn to before me this t" day of 01. 2006. BRENDA S. HAMILTON, CLERK OF THE CIRCUIT COURT .y~ ¿¿¿ ;:?;;~rl l:\CLERK\DA r A\CKEW1\c-a¡11 ar.d leavlrlg se:vce\Qloalificallc'lS COlonel Appo:nletl Ofh:;e~s\:;¡ua .'I::a~lcn Stepha'!'e Moon acllrg CI:Y cle!k.doc !IS~-",_ fÄ f), ~."'''''\ [;.~:I:~ ....'~ :~~.~:. ..' - :~~ ~"'ll -=;;: ~~Jb j CITY OF ROANOKE OFFICE OF THE CITY CLERK 215 Church Avonue, S. W., I~oom 456 Rllauokc, Virginia 24011-1536 Tdt"(lhollc: (540) 853-2541 Fax: (540) 8:::3-1145 E-mail: dl'"kÿ.roallokc\'ll.gO\· SlIlIL.-\ S. lIARHIAS Assistant <:ill Clerk STEPlIASl1: M. 'IOOS. ole ACling City C1rrk September 20, 2006 File #15-76-110 James T. Phipps Director of Court and Community Corrections 516 E. Main Street Salem, Virginia 24153 Dear Mr. Phipps: This is to advise you that A. L. Gaskins has qualified as a member of the Regional Virginia Alcohol Safety Action Program Policy Board, for a term ending June 30, 2008. Sincerely, ~'h1. mO&nJ Stephanie M. Moon, cMC:_~ Acting City Clerk SMM:ew Oath or Affirmation of Office Commonwealth of Virginia, City of Roanoke, to-wit: I, A. L. Gaskins, do solemnly affirm that I will support the Constitution of the United States of America and the Constitution of the Commonwealth of Virginia, and that I will faithfully and impartially discharge and perform all the duties incumbent upon me as a member of the Regional Virginia Alcohol Safety Action Program Policy Board, for a term ending June 30, 2008, according to the best of my ability (So help me God). ry- f Y\- Subscribed and sworn to before me this II P'jay Of~ 2006. BRENDA S. HAMILTON, CLERK OF THE CIRCUIT COURT Bylf'-~- ~. f}~A~ERK J .:"{'].1 :RK'.D.-\ TA '("'KJ-. \\"1'-0;1lh and ka\"ing ~l'n iloe\Rcgional Virginia Akllhll] Safety Actwll Pwgram Policy Board\,\ [. Gaskin:, O(¡llath.Jllc CITY OF ROANOKE OFFICE OF THE CITY CLERK 215 Church Avenue. S. W.. Room 456 Roanoke, Virginia 240] ]-]S36 Telephone: 15-10) 853-2541 Fu.: (540) 853-1145 E-mail: c1cl"kg::roßDo!;.n'a.¡.:ov SlIIèlLA ~. IIARHIA:'I Assislont Cit)' Clerk STU'IIAi\'IE ,\1. '100:'\1. CMC Aeting Cit)' C1rrk September 20, 2006 File #1 5-110-326 Wayne G. Strickland, Executive Director Roanoke Valley Allegheny Regional Commission P. O. Box 2569 Roanoke, Virginia 24010 Dear Mr. Strickland: This is to advise you that William D. Bestpitch has qualified as a member of the Roanoke Valley Allegheny Regional Commission, for a term ending June 30, 2009. Sincerely, r' ~ ' ~ Stephanie M. Moon, CM Acting City Clerk SMM:ew Oath or Affirmation of Office Commonwealth of Virginia, City of Roanoke, to-wit: I, Juan D. Motley, do solemnly affirm that I will support the Constitution of the United States of America and the Constitution of the Commonwealth of Virginia, and that I will faithfully and impartially discharge and perform all the duties incumbent upon me as a member of the Roanoke Civic Center Commission, for a term ending September 30, 2009, according to the best of my ability (So help me God). ~1Ý~ ~ ',b",ib,d ,"d ,wom to b,fo" m, 'hi, //-1, of ~6. BY . HAMILTON, CLERK OF THE CIRCUIT COURT , CLERK L:\CLERK\DATA\CKEW1\oath and leaving service\roa civic center commission\Juan D Motley appt oath.doc CITY OF ROANOKE OFFICE OF THE CITY CLERK STEI'H'\'<IE \1. MOON. ole Al'¡ing: City C1C'rk 21:' Church A\'\.~nllL:. S. \V.. Room..:J.56 Rl)i.lIwkc. \'ir~ini[( 2...JOI J-J5<~6 Tl'kphnl1l': ,5'¡0) 853-25'¡ I fax: 15'¡0) K5,-II'¡S E-mail: derk(c.i n)i.llltlkl""a.go\o SHEilA K. HARTMA'<. CMC Assi::.t;,,¡m City C1~rk September 20, 2006 File #15-110-543 Phyllis Johnson, Secretary Towing Advisory Board Roanoke City Police Department Roanoke, Virginia Dear Ms. Johnson: This is to advise you that Harold F. Wallick, Jr., has qualified as a member of the Towing Advisory Board for a term ending June 30, 2009. Sincerely, ¡ . '^^ . /OT).~ Stephanie M. Moon, CMC Acting City Clerk SMM:ew Oath or Affirmation of Office Commonwealth of Virginia, City of Roanoke, to-wit: I, Harold F. Wallick, Jr., do solemnly affirm that I will support the Constitution of the United States of America and the Constitution of the Commonwealth of Virginia, and that I will faithfully and impartially discharge and perform all the duties incumbent upon me as a member of the Towing Advisory Board, for a term ending June 30, 2009, according to the best of my ability (So help me God). ~/L-£HÆ1'.7 ~.4/ Subscribed and sworn to before me this y, day of ~ 2006. BRENDA S. HAMILTON, CLERK OF THE CIRCUIT COURT BY~~ ,CLERK I. ," C'J .ERK\]}'\TA \CKE\\' I '.()3Ih and ],,:1\ ing scn il.:!.:",Towmg Aù\"islll)" ß\lard\llarnld F \\'..dlh.:k Jr oalh(6.Jtll' CITY OF ROANOKE OFFICE OF THE CITY CLERK 215 Church A\'enuc, S. W.. Room 456 Roanoke, Virginia 24011-1536 Tell'phone: (540) 853·2541 Fan:: (540) 853-1 J4S [·mail: c1crk,~·r(anokt'\"8.go'· SHElL\ :>. HRTMA:> Assistant City Clerk Sll:llIIA"IE \1. MOO~. c/\.Ie Acting Cil~' Clerk September 20, 2006 File #1 5-110-192 Linda Vaught, Secretary Roanoke Civic Center Commission Roanoke, Virginia Dear Ms. Vaught: This is to advise you thatJuan D. Motley has qualified as a member of the Roanoke Civic Center Commission, for a term ending September 30, 2009. Sincerely, J~m.lYì~ Stephanie M. Moon, CMt Acting City Clerk SMM:ew Oath or Affirmation of Office Commonwealth of Virginia, City of Roanoke, to-wit: I, William D. Bestpitch, do solemnly affirm that I will support the Constitution of the United States of America and the Constitution of the Commonwealth of Virginia, and that I will faithfully and impartially discharge and perform all the duties incumbent upon me as a member of the Roanoke Valley Allegheny Regional Commission, for a term ending June 30, 2009, according to the best of my ability (So help me God). ¿jj44v-Øg1{?~{ Subscribed and sworn to before me this Jtf""cJay of d'y...u,t-2006. BRENDA S. HAMILTON, CLERK OF THE CIRCUIT COURT BY t~ /It. Hv~ , CLERK L."CI.I:RK".J).-\T'\\("KF\\'] \llalh anù leaving sl'r\"icl'·{¡l:tn¡lke Valley :\l1cghan)" Rl.'gil1llal Cummissilm",willlam ù besqlltch oath letter.th).,:: CITY OF ROANOKE OFFICE OF THE CITY CLERK 215 Church Avenue, S. W., Room 456 Roanoke, Virginia 24011-1536 TelE')honl': (5-10,853·2541 Fax: lS-IO) H53-1145 [-mail: c1cr).;(ª",foßnokl.'nl.gov SIU:I1.A >;. lLARTMAr> Assi~tant City Clerk STEPHA~n: \1. 1\100:\"! ('Me Al'lin~ (1)-' Clerk September 20, 2006 File #15-110-178 Sue Marie Worline, Secretary Roanoke Redevelopment and Housing Authority P. O. Box 6459 Roanoke, Virginia 24017-0359 Dear Ms. Worline: This is to advise you that Christie M. Wills has qualified as a Commissioner of the Roanoke Redevelopment and Housing Authority, for a term ending August 31, 2010. .. Sincerely, ~':±.~~. ~~~M71~ Acting City Clerk SMM:ew Oath or Affirmation of Office Commonwealth of Virginia, City of Roanoke, to-wit: I, Christie M. Wills, do solemnly affirm that I will support the Constitution of the United States of America and the Constitution of the Commonwealth of Virginia, and that I will faithfully and impartially discharge and perform all the duties incumbent upon me as a Commissioner of the Roanoke Redevelopment and Housing Authority, for a term ending August 31, 2010, according to the best of my ability (So help me God). Subscribed and sworn to before me this ~ day of .4J//,,.;- 2006. BRENDA S. HAMILTON, CLERK OF CIRCUIT COURT BY/~J:j.-tÞ;" fl¡j,£L (/ 710/"/7/ , CLERK CITY OF ROANOKE OFFICE OF THE CITY CLERK 215 Church A\'fnue, S. Woo Room 456 Roanoke. Virginia 241111-1536 Tdephonc: (540) H53-2541 Fax: (540) 853-1145 [-mail: ('erk!1..'foanoke,,'n.go," SIIElU 1\. IIAKHIAN Assistant Cit)" Clerk STI::PIIA~IE 1\1. 1\100~. Cl\IC ACling Cit)., Clerk September 20, 2006 File #132 Darlene L. Burcham City Manager Roanoke, Virginia Dear Ms. Burcham: I am attaching copy of Resolution No. 37530-091806 authorizing the City of Roanoke to become a full member of ICLEI- Local Governments for Sustainability, and to develop an emission reduction target and action plan. The abovereferenced measure was adopted by the Council of the City of Roanoke at a regular meeting which was held on Monday, September 18, 2006. Sincerely, ~Iv¡'~hv Stephanie M. Moon, CMC Acting City Clerk SMM:ew Attachment pc: Jesse A. Hall, Director of Finance James L. Grigsby, Acting Assistant City Manager for Operations Kenneth S. Cronin, Acting Director of General Services L:\CLERKIDATA\CKEW1\AGENDA CORRESPONDENCElagenda correspondence 06\Sepl 061Sepl 18 06 cOLdoc ·¡( ~I" '7~ \\:~~'(¡ IN THE COUNCIL OF THE CITY OF ROANOKE, VIRGINIA, The 18th day of September, 2006: No. 37530-091806. A RESOLUTION authorizing the Citv of Roanoke to become a full member of ICLEI - ~ , Local Govcrnments for Sustainability, and to develop an emission reduction target and action plan. . WHEREAS, scientific consensus has developed that carbon dioxide and othcr greenhouse gases released into the atmosphere havc a profound effect on the Earth's climatc; WHEREAS, in 2006 the United States National Climatic Data Center confirnled elear evidence of human influences on climate due to changes in greenhouse gases; WHEREAS. the U.S. Conference of Mavors endorsed the 2005 U.S. Mavors' Climate . ' . Protection Agreement initiated by Seattle Mayor Nickels and signed by 284 mayors in the Untied States as of August, 2006; WHEREAS, the Urban Environmental Accords adopted by ]oca1 govcrnment'cde1egates during UN World Environment Day 2005 call for reduced emissions through energy efficiency, land use and transportation planning, waste reduction, and wiser energy management; WHEREAS, in 2003 the American Geophysical Union adopted a statement noting that human activities are increasingly altering the Earth's elimate and that natural influences cannot explain the rapid increase in near-surface temperatures observed during the second half of the 20th century; WHEREAS, in 2001 the National Academv of Sciences reviewcd and declared global .' - wamling a real problem caured in part by the actions of humankind; WHEREAS, the 2001 Third Assessment Report from the International Panel on Climate Change and the 2000 US Globa] Change Research Program's First National Asscssment indicate that global warming has begun; \VHEREAS, 162 countries. including the United States, pledged under the United Nations Framework Convention on Climate Change to reduce their greenhouse gas emissions; WHEREAS, energy consumption, specifically the burning offossi1 fuels, accounts for more than 80'% of greenhouse gas emissions in the United States: WHEREAS, local government actions taken to reduce greenhouse gas emissions and increase energy efficiency provide multiple local bcnefits by dccreasing air pollution, creatingjobs, reducing energy expenditures, and saving money for the local govenunent, its businesses, and its residents; and Wl-1EREAS, the Cities for C1imatc Protcction:ß¡ Campaign sponsored by lCLEI - Local Governments for Sustainabi1ity ("ICLE1") has invited the City of Roanoke to join 1CLEl and become a partner in the Cities for Climate Protection Campaign; Tl fEREFORE, BE IT RESOLVED by the Council of the City ofRoanokc that: I. Council concurs in the recommendation that the City of Roanoke join 1CLEl as a full mcmber and participate in the Cities for Climate Protection Campaign and, as a participant, pledges to take a leadership role in promoting public awareness about the causes and impacts of climate changes. ") ~. Council concurs in the recommendation that the City of Roanoke undcrtake the Cities for Climatc Protection Campaign's five milestones to reduce both grecnhouse gas and air pollution emissions throughout the community, and specifically: . Conduct a greenhouse gas emission inventory and forccast to deternJine the source and quantity of greenhouse gas emissions in the City; . Establish a greenhousc gas emissions reduction target; · Devclop an action plan with both cxisting and future actions which, when implemented, will meet the local greenhouse gas reduction target; · Implement the action plan: and · ~10nitor and report progress. 3. Council concurs in the recoIIunendation that the City of Roanoke request assistance from ICLErs Cities for Climate Protection Campaign as it progresses through the milestoncs as more particularly set forth in a joint communicalion from Mayor C. ;\!clson Harris and Council \1ember Gwen W. Mason dated SepTember IS, 2006, to this Council. 4. The City Manager, or her designee. and the City Clerk, are hercby authorized to execute and attcst, rcspectivcly. any and all requisite documents pcrtaining to the City's becoming a full membcr oflCLEI - Local Govemmcnts for Sustainability, such documents to be approved as to form by the City Attorney, and to fumish slIch additional infonnation as may be required in cOlmection with establishing and maintaining the City's membership with ICLEI and carrying out the terms of this resolution. A T 'EST: ~ . óèn 'lY}~ City Clerk. CITY OF ROANOKE CITY COUNCIL 21:' Chlln:h :\\L"IllIL", S.\\'. ~l)l'l C. bylor ~·ll1ni(ipal Building. ROllln -\..'ih ROillltlk¡;. \ïrginia ~....1I11-1.'i.\(} I clcph(lrlL': t )..IlJ} X:'3-2:'..J.1 Fax: {~401 }¡:"i.1-II-l-:' C. ;\llSO:\ IL\J{IUS :\lll.HI" September 18, 2006 Cuunl'il.\h'mbcrs: AlhL'd T. Do\\"l'. .1r. B(:\"crly T. FitlpatriL'k. .Ir. Sh~nll;lI1 P. 1.L';l (ì\\'l'll w. ;"Ia<;oll Dayid H. Trinkh-' Brian J. WI~hnL'l] The Honorable David B. Trinkle, Vice Mayor The Honorable Alfred T. Dowe, Jr., Council Member The Honorable Beverly T. Fitzpatrick, Jr., Council Member The Honorable Sherman T. Lea, Council Member The Honorable Brian J. Wishneff, Council Member Subject: Membership in ICLEI-Local Governments for Sustainability Dear Vice-Mayor Trinkle and Members of Council: On September 5, 2006, City Council was briefed concerning staff actions being taken to help preserve the natural environment of Roanoke. While staff work in this area is important, there is the broader issue of climate protection. In this regard, a number of international, national and local initiatives aimed at reducing greenhouse gases resulting in improved climate protection are underway including the Kyoto Protocol, the U.S. Mayors Climate Protection Agreement, Cool Cities and Cities for Climate Protection, sponsored by ICLEI- Local Governments for Sustainability. After researching potential initiatives that could be applicable, we believe joining ICLEI- Local Governments for Sustainability is the best fit for Roanoke. ICLEJ sponsors the Cities for Climate Protection Campaign which engages communities worldwide to develop actions to help reduce pollution that causes global warming. Potential areas for reducing global warming in Roanoke could include: practicing and promoting sustainable or "green" building practices; continued retrofitting city facilities for future energy savings; preserving open space; increasing recycling, using alternative fuels, increasing the size of our urban forest; increasing education about global warming; and encouraging the community to become involved in efforts to reduce global warming. Vice-Mayor Trinkle and Members of City Council September 18, 2006 Page 2 Recommended Action: Endorse the attached resolution which allows Roanoke to become a full member of ICLEI- Local Governments for Sustainability. Respectfully Submitted, c..f\~~ c. Nelson Harris May' G C nA~ pc: Darlene L. Burcham, City anager Jesse A. Hall, Director of Finance William M. Hackworth, City Attorney Stephanie M. Moon, Acting City Clerk CITY OF ROANOKE OFFICE OF THE CITY CLERK 215 Church Awnue. S. Woo Room 456 Roanoke, Virginia 24011-1536 Tclelhom': (540) H53-2S41 Fax: (540) H53-1145 E-mail: dcrk~!.l."Oallolœ\·Il.~o.· SIIEI!." ~. IIARDIA:< Assistant (1)" Clerk STEI)IIAi\l:IE i\I. '-tOO:\'. CMC Acting City Cluk September 20, 2006 File #60-72-236-304 Darlene L. Burcham City Manager Roanoke, Virginia Dear Ms. Burcham: I am attaching copy of Resolution No.3 75 31-091806 authorizing acceptance of a grant from the United States Department of Health and Human Services to be used for salary and fringe benefits of counselors and related activities in the Sanctuary Outreach Program in the amount of $134,381.00; and authorizing execution of the necessary documents. The abovereferenced measure was adopted by the Council of the City of Roanoke at a regular meeting which was held on Monday, September 18, 2006. Sincerely, -,)-n. hJ(ØyV Stephanie M. Moon, CMd Acting City Clerk SMM:ew Attachment pc: Jesse A. Hall, Director of Finance Sherman M. Stovall, Director, Office of Management and Budget Rolanda B. Russell, Assistant City Manager for Community Development Jane R. Conlin, Director of Human/Social Services L:ICLERKIDATAICKEW1\AGENDA CORRESPONDENCElagenda correspondence 061Sept 061Sept 18 06 cOLdoc ()~l v-')~ IN THE COU:--JCIL OF THE CITY OF ROANOKE, VIRGINIA, The 18th day of September, 2006. No. 37531-091806. A RESOLUTION authorizing the acceptance of a grant from the United States Department of Health and Human Services to be used for salary and fringe benefits of counselors and related activities in thc Sanctuary Outreach Program; and authorizing the - , ~ execution of the necessary documents. BE IT RESOL VED by the Council of the City of Roanoke that: 1. The City of Roanokc hereby accepts the United States Department of Health and Human Services' Runaway and Homeless Youth Program Grant (No. 03CY0459/2), in the amount of S I 34,3 S I.OO to be used for salary and fringe benefits of counselors and related' activities in thc Sanctuary Outreach Program, and as more particularly set forth in the September 1 S. 2006. letter of the City Manager to this Council. 2. The City Manager is hereby authorized to execute any and all requisite documents, upon fonn approved by the City Attorney. and to furnish such additional infonnation as may be required in connection with the City's acceptance of this gram. ATTEST: ~ fr). mbtrV % City Clerk. C ~ . ~G C·'''l>Ä .£.', ~ "tç,] tý'~'~''''''''''- 7..~ : ',.J_~'¡~ ~~,.'~....~ ;,. ,", ~"'(~,m.~~'" CITY OF ROANOKE OFFICE OF THE CITY CLERK 215 Church Awnue, S. W., Room 456 Roanoke, Virginia 24011-1536 T4.'ll'phollc: (!õi-lO) 853-25-11 Fax: (540) 853-1145 .:-mail: t'lcrk~~'...oallOkc\·a.J.:ov SHEILA ~. IIART'IA~ Assistant Cit) Clerk STElIHANIE 'I. :\100:\". ('Me Acting Cily Clerk September 20, 2006 File #60-76-236-304 Jesse A. Hall Director of Finance Roanoke, Virginia Dear Mr. Hall: I am attaching copy of Budget Ordinance No. 37532-091806 appropriating funds from the Federal government for the Runaway and Homeless Youth Act Grant, and amending and reordaining certain sections of the 2006-2007 Grant Fund Appropriations. The abovereferenced measure was adopted by the Council of the City of Roanoke at a regular meeting which was held on Monday, September 18, 2006, and is in full force and effect upon its passage. Sincerely, . ÕYì. (Y\o-ð-N Stephanie M. Moon, CMC \...., Acting City Clerk SMM:ew Attachment pc: Darlene L. Burcham, City Manager Sherman M. Stovall, Director, Office of Management and Budget Rolanda B. Russell, Assistant City Manager for Community Development Jane R. Conlin, Director of Human/Social Services L:\CLERK\DATA\CKEW1\AGENDA CORRESPONDENCE\agenda correspondence 06\Sept 06\Sept 18 06 cor.doc ':0(-'7 ~ IN THE COUNCIL OF THE CITY OF ROANOKE, VIRGINIA The 18th day of September, 2006. ~o. 37532-091806. AN ORDINANCE appropriating funds from the federal government for the Runaway and Homeless Youth Act Grant, amending and reordaining certain sections of the 2006-2007 Grant Fund Appropriations, and dispensing with the second reading by title of this ordinance. BE IT ORDAINED by the Council of the City of Roanoke that the following sections of the 2006-2007 Grant Fund Appropriations be, and the same are hereby, amended and reordained to read and provide as follows: Grant Fund Appropriations Regular Employee Salaries Temporary Employee Wages City Retirement ICMA Match FICA Medical Insurance Dental Insurance Life Insurance Disability Insurance Telephone Cellular Administrative Supplies Dues and Memberships Training and Development Local Mileage Program Activities Revenues Runaway and Homeless Grant FY07 35-630-5143-1002 35-630-5143-1004 35-630-5143-1105 35-630-5143-1116 35-630-5143-1120 35-630-5143-1125 35-630-5143-1126 35-630-5143-1130 35-630-5143-1131 35-630-5143-2021 35-630-5143-2030 35-630-5143-2042 35-630-5143-2044 35-630-5143-2046 35-630-5143-2066 $63,939 3,053 8,227 1,300 5,225 7,080 474 729 166 1,920 1,850 700 6,529 740 32,449 134,381 35-630-5143-5143 . Pursuant to the provisions of Section 12 of the City Charter, the second reading of this ordinance by title is hereby dispensed with. , In. m/MU City èiér/c .--...... (/~.;,:~P"i:~~~0 ';~'!-. '~è'\' "I{i!!~.... . ",.j "," ., , , ~ ." , ,:". ."'", ", :. ':":""Ib::~::~"···· CITY OF ROANOKE OFFICE OF THE CITY MANAGER \h)L'l C. Tclylor MuniLipcll Building 21S Church AvenuL', S.\V., ROllin :\h..J. ROdlloke. Virglnic1 24011-1541 I t'h'plwllt·: ""(:'i.Ill) !-i:;.> ~Tn I·,,,: (.;"'ll¡ :-::;I-II.1'·'¡ (il\ \V~'b' \\·\\"\\".rll,lIl"J...t'\·,l.~\I\· September 1 8, 2006 Honorable C. Nelson Harris, Mayor Honorable David B. Trinkle, Vice Mayor Honorable Alfred T. Dowe, Jr., Council Member Honorable Beverly T. Fitzpatrick, Jr., Council Member Honorable Sherman P. Lea, Council Member Honorable Gwendolyn W. Mason, Council Member Honorable Brian J. Wish neff, Council Member Dear Mayor Harris and Members of Council Subject: Acceptance of United States Department of Health and Human Services funds for the Runaway and Homeless Youth Act program, Sanctuary Outreach Background: The U.S. Department of Health and Human Services awards grants for services in three-year cycles. The City of Roanoke has been selected as a grantee for the second year of a three-year funding cycle for the Runaway and Homeless Youth program under the provisions of the Runaway and Homeless Youth Act. The amount ofthe grant is $134,381 annually. The project period for this grant began September 30, 2005 and will end on September 29, 2008. These funds are used to cover the salary and fringe benefits of a Youth Counselor III, a Youth Counselor II, a Relief Counselor and related program activities in the Sanctuary Outreach program. The required local match is offered as in-kind services. The focus of this program is to alleviate the problems of runaway and homeless youth and their families, strengthen family relationships and encourage stable living conditions. The early intervention of Sanctuary Outreach staff in a combination of shelter based and home based services offers runaway and homeless youth and their families, supportive services that Mayor Harris and Members of City Council September 18, 2006 Pag e 2 will decrease the incidence of repeat runaway episodes. Program services include: 24 hour intake and referral access, temporary shelter, individual, group and family counseling, community service linkages, aftercare services, case disposition and recreation opportunities. Recommended Action(s): Adopt a resolution accepting the S 134,381 in funding from the U.S. Department of Health and Human Services, Grant #03CY0459/2 for Sanctuary's Runaway and Homeless Youth Outreach program. Authorize the City Manager to execute the grant agreement and any other forms required by the Department of Health and 'Human Services in order to accept these funds; such documents to be approved as to form by the City Attorney. Adopt the accompanying budget ordinance to establish a revenue estimate in the amount of $1 34,381 in the Grant Fund and appropriate funding in the same amount to expenditure accounts to be established by the Director of Finance as detailed in Attachment A. Respectfully submitted, ~~~ City Manager DLB:jo c: Mary F. Parker, City Clerk William M. Hackworth, City Attorney Jesse A. Hall, Director of Finance Rolanda B. Russell, Assistant City Manager for Community Development Jane Conlin, Director of Human/Social Services , CM06-0o'l 5'6 - -. rvices RHY escription Amount .. m_ 007 RHY grant 5134.381.00 - ., - _.- -., , ..- Total revenue 5134,381.00 ." .., .--- ----- - I Attachment A U.S. Department of Health and Human Se 2006-2007 Account Set-up Transactions kvenue-2006: , Account No. Expenditures: 1002 Regular Salaries 1004 1105 I $ 63,939.00 I I $ 3,053.00 $ 8.227.00 ; '$ 1.300.00 5 5,225.00 $ 7,080.00 $ 474.00 $ 729.00 '$ 166.00 5 1,920.00 5 1,850.00 $ 700.00 $ 6,529.00 1116 ICMA Match 1120 FICA I __on 1125 Health 1126 Dental 1130 Life 1131 , Long term disability 2021 Telephone Cellular 12030 I , Administrative Supplies 2042 Dues and memberships 2044 Training and Development 2046 Local Mileage 2066 Program Activities : $ 740.00 i . $ 32.449.00 Total expenditures $134,381.00 CITY OF ROANOKE OFFICE OF THE CITY CLERK 215 Church A,'enue, S. W" Hoom 456 HO'lIlokc. Vir~ini. 24011-1536 Telephone; (5-10) t(SJ-25-11 Fax: (540) 85.~-t145 E-mail: cll·rk~. "ollllokL·\'a.go\· SHEILA;\,IIARTl\"I¡\ì\" Assistanl Cit~· Ch,.'rk . STEI)HA~IE 1\1. MOO:\". CJ\IC Acdn~ Cily Clerk September 20, 2006 File #558 Darlene L. Burcham City Manager Roanoke, Virginia Dear Ms. Burcham: I am attaching copy of Ordinance No. 37533-091806 authorizing the City Manager ,to execute a First Amendment to the November 10, 2005 Operating Agreement between the City of Roanoke and Meadowbrook Golf Group, Inc.; and authorizing- the City Manager to take such further action and execute additional documents to implement and administer such First Amendment to Operating Agreement. The above referenced measure was adopted by the Council of the City of Roanoke at a regular meeting which was held on Monday, September 18, 2006, and is in full force and effect upon its passage. Sincerely, '/V).fy~ Stephanie M. Moon, CMC ' Acting City Clerk SMM:ew Attachment pc: Jesse A. Hall, Director of Finance Sherman M. Stovall, Director, Office of Management and Budget Rolanda B. Russell, Assistant City Manager for Community Development R. Brian Townsend, Director, Planning, Building and Economic Development L:\CLERK\DATA\CKEW1\AGENDA CORRESPONDENCE'<lgenda correspondence 06\Sept 06\Sep118 06 cor.doc J~'¢ IN THE COUNCIL Of THE CITY Of ROANOKE. VIRGp..JIA The 18th day of September, 2006. No. 37533-091806. A!\ ORDC\lA:"CE authorizing the City Manager to execute a first Amendment to the l\ovember 10, 20D5. Operating Agreement betw('('n the City of Roanoke (City) and Meadowbrook Golf Group, Inc. (Meadowbrook): authorizing the City \1anager to take such further action and execute additional documents to illlplement and administer such First Amendment to Operating /\greement: and dispensing with the second reading by title of this ordinance. WHEREAS, the City and Meadowbrook entered into an Operating Agreement dated '-Jovember L 2005. for Meadowbrook to operate, manage and conduct the business and services of the Countryside Golf Club for one year: WHEREAS, the City and Meadowbrook wish to extend the term of the Operating Agreement for one additional year, until October 3 L 2007, upon certain terms and conditions as set forth in the First Amendment to Opcrating Agreement: and WHEREAS, Scetion 4.2 of the Operating Agreement established the term of such Operating Agreement to be from l\ovember 1, 2005, through October 3 L 2006, but was subject to being renewed for an additional tenn of one year. THEREFORE, BE IT ORDAINED by the Council of the City of Roanoke as follows: ] . The City Manager and thc City Clerk arc hereby authorized on behalf of the City to -' ~ execute and attest. respectively, a First Amendment to the Operating Agrccment with Meadowbrook dated Novcmber 10, 2005, for a term of one year, for Meadowbrook to operate, K: \!'-jl2usu:rE.s\Cot:nt:::-ysicie I\r:le:-.::irne~:l to OpeJ:at i ng A9rE:eme~t ~COE t"¡cudcwbrook. doc 1 manage and conduct the business and services of the Countryside Golf Club, all as more - - particularly set forth in the City Ylanager's letter to Council dated September 18, 2006; such amendment to be approved as to form by the City Attorney. 2. The City :\1anager is further authorized to take such action and execute such documents as may be necessary to provide for the implementation, administration, and enforcement of such Amendment. 3. Pursuant to the provisions of Section 12 of the City Charter. the sccond rcading of this ordinancc by title is hereby dispensed with. ATTEST: ~ ìn\~~ City Clerk. K:\~Jea¡:;L::::ef:\CCl:nt::-ys':'de Arr.c:ndrr.ent t.c Opel-a:ing AgreE':1ient ~Gû6 Meaã:::::=wb:rc,oY:..dcc 2 1/:~':+'iI:':~";;~~U~\ .4~ ,~~ \#."~, ,~ ". '··:!>"I\.:<~~.:····· CITY OF ROANOKE OFFICE OF THE CITY MANAGER r\~lt:.'l C. Ta~/l(lr Municipal Building 215 Churdl Avenue, S.\·V., r{oom 364 Roanoke, Virginia ~·l011-151}1 Tl'Il'~'lhllll': '. (3·1lI i M:; ~-2 1::n F,t..: (;411) ,-\:;.1_] I.'~ (. il\' \\'l,h: \\"\\·\\".n',11Hlh.I,\.I..I.~I'\' September 18, 2006 Honorable C. Nelson Harris, Mayor Honorable David B. Trinkle, Vice Mayor Honorable Beverly T. Fitzpatrick, Jr., Council Member Honorable Alfred T. Dowe, Jr., Council Member Honorable Sherman P. Lea, Council Member Honorable Gwen W. Mason, Council Member Honorable Brian J. Wishneff, Council Member Dear Mayor Harris and Members of Council: Subject: Extension of Operating Agreement for Countryside Golf Course Background: On November 10, 2005, the City executed an agreement with Meadowbrook Golf Group, Inc. to operate the Countryside Golf Course for a period of one year. The agreement will expire on October 31, 2006. The agreement provides that it may be extended for an additional year on terms and conditions agreed upon by the parties. The management agreement provides for the Meadowbrook Golf Group, Inc. to operate and maintain the golf course property in a manner consistent with the current operation of the course. All expenses for operating the course are the responsibility of Meadowbrook, which collects all income generated by the use of the property. Considerations: The City is actively seeking a master developer for the Countryside property. Once a developer is identified, there will be considerable time devoted to developing a detailed master plan. Therefore, it is unlikely that any construction could be commenced prior to October 31, 2007. Meadowbrook has requested that the annual management fee paid to the City during the term of the agreement be reduced from the current amount of $35,000 to $17,500 for the future one year term. Reduction of the management fee would be reflected in the new Operating Agreement, with all other terms remaining the same as the current agreement. Staff is agreeable to this request and recommends the reduction in the management fee. Recommended Action: Authorize the City Manager to execute an extension of the Operating Agreement with the Meadowbrook Golf Group, Inc., on behalf of the City of Roanoke, for the term November 1, 2006, through October 31, 2007, in such form as approved by the City Attorney. Respectfully submi ch~- Darlene L. Burc City Manager DLB:cc c: Stephanie M. Moon, Acting City Clerk William M. Hackworth, City Attorney Jesse A. Hall, Director of Finance Rolanda Russell, Assistant City Manager for Community Development Brian Townsend, Director, Planning, Building and Economic Development CM06-00163 ~~" ~~..... !;. ?1:1¡~"''':J~D' .~~~ '.~: Ii; .. "(.~Il~ CITY OF ROANOKE OFFICE OF THE CITY CLERK 215 Church A\'enue, S. W., Room 456 Roanoke, Virginia 24011-1536 Tl'ephone: (540) H53-2541 Fa" (540) 853-1145 E-mail: dl.l"klª.roIlTloke\.a.go·¡ SHEILA ,. HARBIAI\ Assi!ltllnt Cit)" Clerk STEPIIAI\IE M. \100'. Ole Acting <:it)' ("Jerk September 20, 2006 File #24-442 Darlene L. Burcham City Manager Roanoke, Virginia Dear Ms. Burcham: I am attaching copy of Ordinance No. 37534-091806 amending and reordaining Section 20-131, Definition. aoe of operation, Division 1, Generallv, Article VII, Mopeds, Bicvcles and Electric Power-Assisted Bicvcles, Chapter 20, Motor Vehicles and Traffic, in order to be con sistent with the State Code. The abovereferenced measure was adopted by the Council of the City of Roanoke at a regular meeting which was held on Monday, September 18, 2006, and is in full force and effect upon its passage. Sincerely, -'t.r:fI! ~ on . f"YJúVYv Stephanie M. Moon, CMC Acting City Clerk SMM:ew Attachment L:ICLERKIDATAICKEW1\AGENDA CORRESPONDENCE\agenda correspondence 061Sept 061Sept 18 06 cor.doc Darlene L. Burcham September 20, 2006 Page 2 pc: The Honorable James R. Swanson, Chief Judge, Twenty-Third Judicial Circuit of Virginia The Honorable Jonathan M. Apgar, Judge, Twenty-Third Judicial Circuit of Virginia The Honorable Robert P. Doherty, Judge, Twenty-Third Judicial Circuit of Virginia The Honorable William D. Broadhurst, Judge, Twenty-Third Judicial Circuit of Virginia The Honorable Clifford R. Weckstein, Judge, Twenty-Third Judicial Circuit of Virginia The Honorable Charles N. Dorsey, Judge, Twenty-Third Judicial Circuit of Virginia The Honorable Julian H. Raney, Jr., Chief Judge, General District Court The Honorable Vincent A. Lilley, Judge, General District Court The Honorable Francis W. Burkart, III, Judge, General District Court The Honorable M. Frederick King, Judge, General District Court The Honorable Jacqueline F. Ward Talevi, Judge, General District Court The Honorable Joseph P. Bounds, Chief Judge, Juvenile and Domestic Relations District Court The Honorable John B. Ferguson, Judge, Juvenile and Domestic Relations District Court The Honorable Joseph M. Clarke, II, Judge, Juvenile and Domestic Relations District Court The Honorable Philip Trompeter, Judge, Juvenile and Domestic Relations District Court Sheila N. Hartman, Assistant City Clerk, (For transmittal by electronic mail to Municipal Code Corporation) Municipal Code Corporation, P. O. Box 2235, Tallahassee, Florida 32316 Ronald S. Albright, Clerk, General District Court David C. Wells, Clerk, Juvenile and Domestic Relations District Court Kozuo Webb, Office of the Magistrate Lora A. Wilson, Law Librarian Jesse A. Hall, Director of Finance Rolanda B. Russell, Assistant City Manager for Community Development A. L. Gaskins, Chief of Police L:\CLERKlDATA\CKEW1\AGENDA CORRESPONDENCElagenda correspondence 06\Sepl 06\Sep118 06 cor.doc ~~ 11\ THE COUNCIL OF THE CITY OF ROAt"\lOKE, VIRGINV\ The 18th day of September, 2006. No. 37534-09]806. AN ORDINANCE, amending and reordaining Section 20-131, Definition. age of operation. of Division I, Generallv, of Article VII, Mopeds. Bin'cles And Electric Power- Assisted Bicvcles of Chapter 20, Motor Vehicles and Traffic; and dispensing with the second reading by title of this ordinance. BE IT ORDAINED by the Council of the City of Roanoke as follows: 1. Section 20-131, Definition. :¡ge of oneration, of Chapter 20, \1otor Vehicles and Traffic, is hereby amended and TCordained to read and provide as follows: § 20-13]. Definition. age of oneration. * * * Meped-is-detfficd as a-€tfflvcyanee that is either (a) a bieye-le-1ilæ--Bevit'e--Wtth pcdal:; anè-a-helpel'--lfiele!'---Wflie.Jt---is-rated at FIe more than t'NO (2) brah hefSèpo\'.-er aRl'¡-fFodtt€es-speeè5-lij7-1e-il-fltlP.í'¡fflU~hi-Fly-(~liles per hOOF, er-(-&)--a-ttl0tereÿc-le-with al1 engine-dtspl-aeemeFlt of fifty (50) eubie eentimetef5 or less anè--a---m·alH-mum-5~eè-Bf-less thaR thirty (30) miles--per homo "Moped" mealls eve,y vehicle that ¡ravels all not more than three wheels in contact with thc grol/lld that has (i) a selltthm is no less thanl-/ inches in hcight, measured ji-om the middle of the seal perpendicular to the ground and (ii) a gasoline. electric, or hybrid maIOI' that displaces lcss than 50 cubic centimeters. For purposes of this article, a mopcd shall be a vehicle when operated on a street. No person under the age of sixteen (16) years shall opcrate a moped on any street in the city. * * * ') Pursuant to Section 12 of the City Charter, the second reading of this ordinance by title is hereby dispensed with. ATTEST: ~.~ ~ City Clerk. K:\t...le:lsL:rcs\Coùl' Amendment ~O-131 t-.lopcd detimtic'1n 2Ù06.doc CITY OF ROANOKE OFFICE 01' CITY ATTORNEY ·16~ \1\.I"IIClP.\L IlU!,J)Ir\G 215 CHURCH AVEMT. SW R()ANOKE, VIIHìI:"JIA 2-l-IJ11-1:,lJ:' <1rY ·\I"I"I-:'.I'.ï "l"I'IH'II(I\1: 5111_1.::=;; ":":;1 L\\ :'·111 :>-.": 1':'::1 1:.\ 1.\ 11 : ,. I \":,: I \ ,... i "an"~,' \" I:' 'C 1"1\101"H\ 1{.SPF:\,,"t.'FH. STF\ F:'Io;.I. TAl.E\,( C;:\H:\' F. TE(a:\"K.\:\IP 1),\\ II) L. ('OLLI'S 1 1 L-\"11 1 EI{ I'. FER(;t"SeJi'. \\ 11.1.1.\:\1 \1. U:\('KWOUTJJ '...\:"-I~" I 'ï I Y .\:nl'~·'I.Y'; September 18. 20((i Thè Ilonorable Mayor and I\'lcmbers of City Counl'il Roanokl', Virginia Rl': Mopèds Dear \-layor Harris and Members "fCouncil: During its last sèssion. thè Gènèral Assèmbly :lInended the detinitionl)f"mopedn as uSc'd in thè Stalè motor \ehiclè laws, Sèe Section 46,2-100, Codc of Virginia. (The City supported this amendment.) Sçction 20-131 of the City Code, whil'h delines mopeds, should be, amended al'l'Ordingly. in ordl'r to bl' consistent with the Statl' Codl'. I have- attache-d IÖr your consideration an ordinanl'e whieh would accomplish this, Plèasè Ie-t me know if you havl' any '1ul'stions about this matter. With kindest personal regards. I am Sincerely yours, 1)~tJ\.~ \Villiam tvf. Ilal'kworth City Attorney Wl'v1J-l/lsc Enclosures e: Darlène L. Burl'ham. City Manager Chièf A.L Gaskins, Roanoke City Police Department Stephanie \1, Moon, Acting City Clerk STEI)Ho·\~1E M. 'I()O~~ C\IC ,\cting Cit~' C1nk CITY OF ROANOKE OFFICE OF THE CITY CLERK 2]5 Church Awnue. S. W., Room 456 Roanoke, Virginia 24011-]536 Telepholll': 15-10) !jS~-1541 Fax: (5401853-1145 [-mail: c1l'rkrg- l'Oanokna.go\' 'sHEILA ;\Ò, IIAI{OD·IAN AssistulIl Ci(~' Ch.'rk September 20, 2006 File #24-79 Darlene L. Burcham City Manager Roanoke, Virginia Dear Ms. Burcham: I am attaching copy of Ordinance No. 37535-091806 amending §32-289, Tips and service charqes, Article XIV, Tax on Prepared Food and Beveraqe, Chapter 32, Taxation, Code of the City of Roanoke (1979), as amended, by exempting mandatory gratuities or service charges required to be paid by a purchaserfrom the food and beverage tax, to a certain percentage, in order to be consistent with the State Code. The abovereferenced measure was adopted by the Council of the City of Roanoke at a regular meeting which was held on Monday, September 18, 2006, and is in full force and effect upon its passage. Sincerely, Ä~m.~ Stephanie M. Moon, CMC -- Acting City Clerk SMM:ew Attachment L:\CLERK\DATA\CKEW1iAGENDA CORRESPONDENCElagenda correspondence 06\Sept 06\Sept 18 06 cor,doc Darlene L. Burcham September 20, 2006 Page 2 pc: The Honorable James R. Swanson, Chief Judge, Twenty-Third Judicial Circuit of Virginia The Honorable Jonathan M. Apgar, Judge, Twenty-Third Judicial Circuit of Virginia The Honorable Robert P. Doherty, Judge, Twenty-Third Judicial Circuit of Virginia The Honorable William D. Broadhurst, Judge, Twenty-Third Judicial Circuit of Virginia The Honorable Clifford R. Weckstein, Judge, Twenty-Third Judicial Circuit of Virginia The Honorable Charles N. Dorsey, Judge, Twenty-Third Judicial Circuit of Virginia The Honorable Julian H. Raney, Jr., Chief Judge, General District Court The Honorable Vincent A. Lilley, Judge, General District Court The Honorable Francis W. Burkart, III, Judge, General District Court The Honorable M. Frederick King, Judge, General District Court The Honorable Jacqueline F. Ward Talevi, Judge, General District Court The Honorable Joseph P. Bounds, Chief Judge, Juvenile and Domestic Relations District Court The Honorable John B. Ferguson, Judge, Juvenile and Domestic Relations District Court The Honorable Joseph M. Clarke, II, Judge, Juvenile and Domestic Relations District Court The Honorable Philip Trompeter, Judge, Juvenile and Domestic Relations District Court Sheila N. Hartman, Assistant City Clerk, (For transmittal by electronic mail to Municipal Code Co.rporation) Municipal Code Corporation, P. O. Box 2235, Tallahassee, Florida 32316 Ronald S. Albright, Clerk, General District Court David C. Wells, Clerk, Juvenile and Domestic Relations District Court Kozuo Webb, Office of the Magi strate Lora A. Wilson, Law Librarian Jesse A. Hall, Director of Finance Rolanda B. Russell, Assistant City Manager for Community Development Sherman M. Stovall, Director, Office of Management and Budget Dana D. Long, Manager, Billings and Collections L:ICLERKlDATAICKEW1\AGENDA CORRESPONDENCElagenda correspondence 06\Sept 06\Sept 18 06 cOLdoc ')7-'" . ¡. ;' './ , N TI·IE COC~-JCJL OF THE CITY OF ROANOKE, VIRGINIA, The 18th day of September, 2006. No. 37535-091806. Al\" ORDJ)JAl\"Cf amending §32-289, Tips and service charecs. of Article XIV, Tax on Prepared food and Bevera~~, ofChaplCr 32, Taxation, of the Code of the City of Roanoke (1979) as amended, by cxempting mandatory gratuitics or sen'ice charges required to be paid by a purchaser from the food and beverage tax, to a certain percentage; and dispensing with the second reading of this ordinance by title. BE IT ORDAI)JED by the Council ofthc City of Roanoke that: 1. Section 32-289, Tips and sen'iee charecs. of Article XI\' , Tax on Prcpared Food and Bcverage, of Chapter 32, Taxation, of the Code of the City of Roanoke (1979), as amended, is hercby amcnded to read and provide as follows: 32-289. Tips and service charges. Where a purchaser provides a tip for an employee of a seller, and the amount of the tip is wholly in the discretion of the purchaser. the tip is not subject to the tax imposed by this article. whether paid in cash to the employee or added to tbe bill and charged to the purchaser's account, provided, in thc latter case, the full amount of the tip is tumed over to the employee by the seller. An amount or percent, whcther designated as a tip or a sen'ice charge, tbat is addcd to tbe price of the meal by the seller, and required to be paid by tbe purchaser, shall he exeml'tþ-ollllhe tax imposed by this article to the extelll that the lIlandatol)' gro/Uily or service charge is less thall twelll)' percent of the sales price. Anyporlion of the mandalory graluitv or service charge thaI exceeds t\1'cIlIYl'ercelll of the sales price is a part of the selling price of the meal and is subject to the tax imposed by this article. 3. Pursuant to the provisions of Section 12 of the City Charter, tbe second reading of this ordinance by title is hereby dispensed with. ATTEST: ~ C:YC,t: ~ CITY OF ROANOKE OFFICE 01' CITY ATTOR:\EY ~b-I \fl.INICII'AL Bun DI"I<Ò 215 CIIlJRCH A\T "I 1 IE. SW IWAKOKE. VIR(;IKIA 2~1J11-15"5 11"I"1.\"'O,(:.I"Y TI:1I.1'IIII.\;I": 5·¡II-:-.:'i.L~ I.:" h\.\: :,.:,!_x~.\.I"::":· 1".:\\:\11 ,1:\ ;·IIY:·;"·I\'''II''~.c'\ ,I ~,,\ TI\IOTIIY R. SI'E:,\( 'EI~ STE\1~;,\.I. T\I.E\l (;·\R\ 1';.1"I·:(;(-::'IK·\I\II' In\"l1l I.. (·OLU'õS IIE.\'I"HElll'. FEIH;l.IS()' \\"11.1.1 \\1.\1. H.\t.l(\\'()f{TII .\......1' 1·\·~Tl I IT .\1"1l Ik~.I:"'.'" ScptembC'r 1 S. 200(j Thl': llonorabll' "1avor and Mcmbcrs ofCily Council RoanokC'. Virginia Rc: \1andatory Ciratuitics/Scrviœ ChargC's DC'ar ]\·layor Harris and ]\klllbC'rs of(\'uncil: During its last scssion. thC' GC'neral AssC'mbly alllendt:d Section 5S.I-3S40 of the (\>de l,f Virginia (11)50) tll pl"llvidC' that Illandatory gratuities or sc"\·iCC' chargcs that arC' added to the cost of a Illeal are eXempt ¡rom the lllC'als tax. to thc C'xtcnt that such gratuities or service charges arc less than twcnty pcrCC'nt of thc sail's pricc of the' mC'al. Prc\'iously. mandatory gratuitics and scr\"iC'c chargcs wcrc not C'XC'lllpt tì·olll taxatil'n and subject to the tax in their cntircty. 1 have attadlcd for your consilkration an onlinance which amends Section 32-2t;<). TillS and Service Char~es. of tiIC' City CodC' to bc L'Onsistent with the change in State law. Please let Ille know if you have any questions about this Illatter. With kindC'st rcgards. I am Sinccrely yours. tJ~M. ~ William M. Hackworth City Attorney \\"'Mll:ld Endosurc cc: Darknc L. Burcham. City rvlanagC'r StephaniC' \1. Moon. Acting City Clerk )cssc Hall. Director of FinancC' Shennan Slo\'a11. DirC'ctor of i\lanagC'lllcnt and Budget -CITY OF ROANOKE OFFICE Of' THE CITY CLERK 215 Church Awnue. S. Woo Room 456 RIl'lI1llkc. Virginia 24011-1536 Tt't'phone: (~'¡O) 853-2541 Fax: (SolO) 85~-114~ ...-mail: c1l'rk(~ roanoke, a.go\' SHEII.,\ :'<I. IIARTI\1A~ Assistant Cit)" Clerk STEPIl,\'Ilt: M. MOO". OK Acting Cilf Clerk September 20, 2006 File #60-467 Jesse A. Hall Director of Finance Roanoke, Virginia Dear Mr. Hall: I am attaching copy of Budget Ordinance No. 37536-091806 appropriating funds from the Commonwealth and Federal governments to support various school grants and programs, and amending and reordaining certain sections of the 2006-2007 School Fund Appropriations. The above referenced measure was adopted by the Council of the City of Roanoke at a regular meeting which was held on Monday, September 18, 2006, and is in full force and effect upon its passage. Sincerely, ~Y'r¡. lY\0'0-r0 Stephanie M. Moon, CMÒ--- Acting City Clerk SMM:ew Attachment pc: Darlene L. Burcham, City Manager Jesse A. Hall, Director of Finance Marvin T. Thompson, Superintendent, Roanoke City Public Schools, P. O. Box 13145, Roanoke, Virginia 24031 Cindy H. Poulton, Clerk, Roanoke City School Board, P. O. Box 13145, Roanoke, Virginia 24031 L:\CLERK\DATA\CKEW1\AGENDA CORRESPONDENCElagonda correspondence 06\Sept 06\Sept 18 06 cor.doc ~\7 IN THE COUNCIL OF THE CITY OF ROANOKE, VIRGINIA The 18th day of September, 2006. No. 37536-091806. AN ORDINANCE to appropriate funding from the Commonwealth and Federal governments to support various school grants and programs, amending and reordaining certain sections of the 2006-2007 School Fund Appropriations, and dispensing with the second reading by title of this ordinance. BE IT ORDAINED by the Council of the City of Roanoke that the following sections of the 2006-2007 School Fund Appropriations be, and the same are hereby, amended and reordained to read and provide as follows: Appropriations Compensation of Other Professionals Compensation of Substitute Teachers Retirement-HIC-VRS Social Security Retirement VRS Health Insurance Group Life Insurance Indirect Costs Mileage Other Operation Supplies Compensation of Other Professionals Social Security Indirect Costs Mileage Educational and Recreational Supplies Educational and Recreational Supplies Books and Subscriptions Revenues State Grant Receipts State Grant Receipts Federal Grant Receipts 30-062-6513-0138-6554 30-062-6513-002J -6554 30-062-6513-0200-6554 30-062-6513-0201-6554 30-062-6513-0202-6554 30-062-6513-0204-6554 30-062-6513-0205-6554 30-062-6513-0212-6554 30-062-651 3-0551-6554 30-062-6513-0615-6554 30-062-6517 -0138-6554 30-062-6517 -0201-6554 30-062-6517-0212-6554 30-062-6517 -0551-6554 30-062-6517 -0614-6554 30-062-6904-0614-6004 30-062-6904-0613-6004 30-062-6513-1100 30-062-6517-1100 30-062-6904-1102 $2,649 3,500 2,088 500 9,532 24,084 4,040 148 2,500 (20,500) 36,600 6,767 1,830 1,350 2,100 12,560 35,000 28,541 48,647 47,560 Pursuant to the provisions of Section 12 of the City Charter, the second reading of this ordinance by title is hereby dispensed with. ATTEST: ~M,~ ~ City Clerk. City of Roanoke School Board P.O. Box 13145, Roanoke VA 24031. 540-853-2381. FAX 540-853-2951 David B. (arson, C/wir Alvin L. Nash, Hce ChaÙ" Jason E. Bingham Mae G. Huff William H. Lindsey Courtney A, Penn Todd A. Putney Marvin T. I hampson, Superintt3ndent Cindy H. Poulton, ClerK of the Board September 18, 2006 The Honorable C. Nelson Harris, Mayor and Members of Roanoke City Council Roanoke, VA 24011 Dear Members of Council: As the result of official School Board action at its meeting on September 12, the Board respectfully requests City Council to appropriate monies to the following grant programs: · $28,541.00 for the Juvenile Detention Home to provide funds for the salary and expenses of the educational coordinators. This continuing program will be one hundred percent reimbursed by state funds. · $48,647.00 for the Care Connection Clinic program to provide funds for the salary and expenses of the educational coordinator. This continuing program will be one hundred percent reimbursed by state funds. · $47,560.00 for the Reading First Program to provide supplemental intervention materials, classroom reading materials, and library books for Fairview and Lincoln Terrace Elementary Schools. This new program will be one hundred percent reimbursed by federal funds. The Board thanks you for your approval of the above requests. re cc: Mr. David B. Carson Mr. Marvin T. Thompson Mr, Kenneth F. Mundy - . Mrs, Darlene Burcham Mr. William M. Hackworth Mr. Jesse A. Hall , '",Mr. Paul Workman (with accounting details) CITY OF ROANOKE DEPARTMENT OF FINANCE 215 Church Avenue. S.W.. Room 461 P.(), Box 1220 Roanoke. Virginia ~40()6-1220 Telephone: (540) 853-2821 rax: (540) 853-6142 A:'IIr.: II. SHAWVER D(,pll~' Director ~'1l1¡1l1' ;Inll shav....·~r';¡·..:l.1l'ml\lk.:.\";I.(.-; .JESSE A. IIALL Direrlor of "¡nance em:nl ..:s.~e haIl1tci.ro:mok..: valis September 18, 2006 Honorable C. Nelson Harris, Mayor Honorable David B. Trinkle, Vice-Mayor Honorable Alfred T. Dowe, Jr., Council Member Honorable Beverly T. Fitzpatrick, Jr., Council Member Honorable Sherman P. Lea, Council Member Honorable Gwendolyn W. Mason, Council Member Honorable Brian J. Wishneff, Council Member Dear Mayor Harris and Members of City Council: Subject: School Board Appropriation Request As the .result of official School Board action at its meeting on September 12, the Board has respectfully requested that City Council appropriate the following grants: · $28,541 for the Juvenile Detention Home to provide funds for the salary and expenses of the educational coordinators. This continuing program will be one hundred percent reimbursed by state funds. · $48,647 for the Care Connection Clinic program to provide funds for the salary and expenses of the educational coordinator. This continuing program will be one hundred percent reimbursed by state funds. · $47,560 for the Reading First Program to provide supplemental intervention materials, classroom reading materials, and library books for Fairview and Lincoln Terrace Elementary Schools. This new program will be one hundred percent reimbursed by federal funds. We recommend that you concur with this report of the School Board and adopt the attached budget ordinance to appropriate funding as outlined above. Sincerely, L?e-·Þ'''- A, I{-aê/ --q;;;se A. Hall Director of Finance c: Darlene L. Burcham, City Manager William M. Hackworth, City Attorney Stephanie M. Moon, Acting City Clerk Sherman M. Stovall, Director of Management and Budget Marvin T. Thompson, Superintendent of City Schools City of Roanoke School Board P.O. Box 13145, Roanoke VA 24031. 540-853-2381. FAX 540-853-2951 David B. Carson, C/7air Alvin L. Nash, l'iccChair Jason E. Bingham t-1ac G. Huff William H. Lindsey Courtney A.. Penn Todd A. Putney t-1arvin T. Thompson, Supr3riotendent Cindy H. Poulton, C/èrk of tlJe Board September 18, 2006 Mrs. Stephanie Moon Acting City Clerk City of Roanoke Roanoke, VA 24011 Dear Mrs. Moon: The attached requests should be included on City Council's September 18 agenda, Thank you for your assistance. Sincerely, ~-+\. rù~ Cindy H. pþulton, Clerk re Enc. cc: Mr. Paul Workman CITY OF ROANOKE OFFICE OF THE CITY CLERK 215 Church An'rIlIe, S. \V.. Room 456 Roanoke. Virginia 24011-1536 Tdl'phollc: 15401853-25-11 FlU: (S-IO) 85.3-1145 E-mail: c1cl·k!~ roanoktnl.¡.:o," SHEILA :". IIARTI\1AI\ Assistant Cily C1uk STEPIIAME M. '100:-;. Ole Aclin~ Cily Clerk September 20, 2006 File #132-228 Darlene L. Burcham City Manager Roanoke, Virginia Dear Ms. Burcham: I am attaching copy of Resolution No. 37537-091806 authorizing the City's participation in the National League of Cities' Partnership for Working Toward Inclusive Communities. The above referenced measure was adopted by the Council of the City of Roanoke at a regular meeting which was held on Monday, September 18, 2006. Sincerely, ~m. fYlOtriV Stephanie M. Moon, CMC \. Acting City Clerk SMM:ew Attachment pc: Jesse A. Hall, Director of Finance L:ICLERKIDATAICKEW1\AGENDA CORRESPONDENCE\agenda correspondence 061Sept 061Sepl 18 06 cor.doc ~:¿ IN THE COUNCIL FOR THE CITY OF ROANOKE, VIRGINIA The 18th day of September, 2006. No. 37537-091806. A RESOLUTION authorizing the City's participation in the National League of Cities' Partnership for Working Toward lnclusivc CoItullunities. WHEREAS, the City of Roanoke is committed to inclusion as a fundamental aspect of our community; WHEREAS, cities and towns are the best place to makc inclusiveness an everyday priorj(y; WHEREAS, local elected officials can and should lead the way in making inclusiveness a priority in America's cities and towns; WHEREAS, the National League of Cities has designed the Partnership for Working: Toward Inclusive Communities to support cities and towns in their commitment to inclusion; WHEREAS, the "ational League of Cities and its members believe an inclusive community promotes equal opportunity and fairness; WHEREAS, the National League of Cities and its members helieve an inclusive community promotes citizen participation and engagement; and WHEREAS, ;>';atiolJal League of Cities President Jim Hunt, couneilmembcr, Clarksburg, West Virginia, has invited local officials to join the Partnership for Working Toward Inclusive Communities and to make a commitment to huilding more inclusive communities in their own cities and towns. NOW, THEREFORE, BE IT RESOLVED that the Council of the City of Roanoke hereby reaffirms its commitment to inclusion as a fundamental aspect of our community, pledges activc efforts to seck to achieve that goal, and urges all citizens of Roanoke to join together to support this elTort. BE IT fURTHER RESOLVED that the City of Roanoke hereby agrees to join the Partnership for Working Toward Inclusive Communities. ATTEST: ~~;~ CITY OF ROANOKE OFFICE Of THE CITY CLERK STEPHANIE ~1, ~100S. CMC :\\.'lill1! City Ck'rk ~ 15 Churl'il A \'cnu~. S. \V.. Room ..:1-56 R{lanokt:'. Virginia 2-l011-1536 Tekphone: (5..W) X53-25..:J I Fn: ('i~OI X'i.'-11~5 E-mail: l'h.:rk(g']"onnokt'\"a.gcl\' SHEILA X HARTMAN. OK As:-ist::mt City Clerk September 20, 2006 File #53-467 George J. A. Clemo, Attorney Woods Rogers PLC P. O. Box 14125 Roanoke, Virginia 24038-4125 Dear Mr. Clemo: I am enclosing two copies of Resolution No. 37538-091806 authorizing issuance of not to exceed $7,500,000.00 General Obligation School Bonds of the City of Roanoke, Virginia, Series 2006-B, to be sold to the Virginia Public School Authority and providing for the form and details thereof, for appropriate filing with the Circuit Court of the City of Roan oke. The abovereferenced measure was adopted by the Council of the City of Roanoke at a regular meeting which was held on Monday, September 18, 2006. Sincerely, J It) IrJóìMJ Stephanie M. Moon, CM~ Acting City Clerk SMM:ew Enclosure pc: The Honorable Brenda L. Hamilton, Clerk of Circuit Court Darlene L. Burcham, City Manager Jesse A. Hall, Director of Finance Marvin T. Thompson, Superintendent, Roanoke City Public Schools, P. O. Box 13145, Roanoke, Virginia 24031 Cindy H. Poulton, Clerk, Roanoke City School Board, P. O. Box 13145, Roanoke, Virginia 24031 L:\CLERK\DA T A\CKEW1\AGENDA CORRESPONDENCE\agenda correspondence 06\Sept 06\Sept 18 06 cor.doc [Subsidy] [Patrick Henry] The 18th day of September, 2006. Reso]ution No. 37538-091806. IŒSOLVTION AUTHORlZI~G THE ISSUANCE OF NOT TO EXCEED $7,500,000 GENERAL OBLIGATION SCHOOL BONDS OF THE CITY OF IWANOKE, VIRGINIA, SERIES 2006-B, TO BE SOLD TO THE VIRGINIA PUBLIC SCHOOL AUTHORITY A~D PROVIDING FOR THE FORM Al\"D DETAILS THEREOF. WHEREAS, on September 22. 2004, the Commonwealth of Virginia Board of Education (the "Board of Education") placed the application (the "Application") of the Schoo] Board of the City of Roanoke, , Virginia (the "Schoo] Board"), for a loan of $7,500,000 (the "Literary Fund Loan") from the Literary Fund, a permanent trust fund established by the Constitution of Virginia (the "Literary Fund"), for the construction, renovation and expansion of school buildings (the "Project") in Roanoke, , Virginia (the "City"), on the First Priority Waiting List; WHEREAS, the Board of Education was to have approved the release of Literary Fund moneys to the School Board and make a commitment to loan such moneys to the Schoo] Board (the "Commitment") within one (l) year of placement of the Application on the First Priority Waiting List upon receipt of the Literary Fund of an unencumbered sum available at least equal to the amount of the Application and the approval, by the Board of Education, of the Application as having IIlet all conditions for a loan from the Literary Fund; WHEREAS, the Board of Education was thereafter to have given advances on the amount of the Commitment for the Litcrary Fund Loan to the School Board, as eonstmetion or renovation of the Project progressed, in exchange for temporary notes from the School Board to the Literary Fund (the "Tcmporary Notes") for the amounts so advanced; WHEREAS, after the completion of the Project and the advance of the total amount of the Commitment. the Temporary Notes were to have been consolidated into a penn anent loan note of the School Board to the Literary Fund (the "Literary Fund Obligation") which was to evidence the ohligation of the School Board to repay the Literary Fund Loan; WHEREAS, the Literary Fund Obligation was to have borne interest at three percent (3%) per annum and mature in annual installments for a period of twenty (20) years; WHEREAS, in connection with the 2006 ¡nlerest Rate Subsidy Program (the "Program"), the Virginia Pub]ie Schoo] Authority (the "VPSA") has offered to purchase general obligation school honds of the City. and the Board of Education has offered to pay, to the City, a lump sum cash payment (the "Lump Sum Cash Pa)1llent") equal to the sum offi) net present value difference, delellnincd on thc date on which the VPSA sells its bonds, between the weighted average interest rate that thc gcnera] obligation school honds of the City will bear upon sale to the VPSA and the :rG=-e79~~·1, Qï7E::::6· 00046-()1) interest rate that the Literary Fund Obligation would have borne plus (ii) an allowance for the costs of issuing such bonds of the City (thc "Issuance Expensc Allowance"); WHEREAS, the City Council (the "Council") of the City of Roanoke, Virginia (the "City"), has detcnnined that it is nccessary and expedient to borrow not to excecd S7,500,000 and to issue its gcneral obligation school bonds for the purpose of financing ccrtain capital projects for school purposcs; and WHEREAS, the City held a public hearing, duly noticed, on Junc 24, 2004, on the issuance of the Bonds (as defined below) in accordance with the rcquirements ofScction ] 5.2-2606, Code of Virginia 1950, as amended (the "Virginia Code"); and WHEREAS, the School Board of the City has, by resolution, requested the Council to authorize the issuance of the Bonds (as hereinafter defined) and, consented to the issuance of the Bonds; l'iOW, THEREI'ORE, BE IT IŒSOLVED BY THE CITY COUNCIL OF THE CITY OF ROA;'\OKE, VIRGINIA: 1. Authorization of Bonds and Use of Proceeds. The Council hereby detennines that it is advisable to contract a debt and issue and sell its general obligation school bonds in an aggregate plincipal amount not to exceed $7,500,000 (the "Bonds") for the purpose of financing certain capital projects for school purposes described in Exhibit B. The Council hereby authorizes the issuancc and sale of the Bonds in the foml and upon the tenns established pursuant to this Rcsolution. 2. Sale of the Bonds. It is dctennined to bc in the best interest of the City to accept the offer of the Virginia Public School Authority (the "VPSA") to purchase from the City, and to sell to the VI'SA, the Bonds at a price, determined by the VPSA to be fair and accepted by the Mayor and the City Manager. The Mayor. the City Manager, and such officer or officers of the City as either may designate arc hereby authorized and directed to enter into a Bond Sale Agreement dated as of September 27, 2006 with the VPSA providing for the sale of the Bonds to the VPSA in substantially the f0l111 submitted to the Council at this meeting, which form is hereby approved (the "Bond Sale Agreement"). 3. Details of the Bonds. The Bonds shall bc issuable in fully registered fonn; shall be dated the date of issuance and delivery of the Bonds; shall be designated "General Obligation School Bonds, Series 2006-B"; shall bear interest from the date of delivery thereof payable semi-annually on each January] 5 and July] 5 beginning July 15, 2007 (each an "Interest Payment Date"), at the rates established in accordance with Section 4 of this Resolution; and shall mature on July 15 in the years (each a "Principal Pa}111ent Date") and in the amounts set forth on Schedule I attachcd hcreto (the "Principal Installments"), subject to the provisions of Section 4 of this I¡O~B·/9S? :. 077826-0C046-0:J 2 Resolution. 4. Interest Rates and l'rindJlallnstallments. The City Manager is hereby authorized and directed to accept the interest rates on the Bonds established by the VPSA, provided that each interest rate shall be ten one-hundredths of one percent (0.10%) over the intercst rate to be paid by thc VPSA for the corresponding principal pa)lnent date of the bonds to be issued by the VPSA (the "VPSA Bonds"), a portion of the proceeds of which will be used to purchase the Bonds, and provided further, that the true intercst cost of the Bonds does not exceed five and filty one- hundredths percem (5.50 ~ó) per annum. The Interest PayTIlent Dates and the Principal Installments are subject to change at the request of the VPSA. The City Manager is hereby authorized and directed to accept changes in the Interest PayTIlent Dates and the Principal Installments at the request of the VPSA, provided that the aggregate principal amount of the Bonds shall not exceed the amount authorized by this Resolution. The execution and delivery of the Bonds as described in Seclion 8 hereof shall conclusively evidence such interest rates established by the VPSA and Interest Payment Dates and the Principal Installments .requested hy the VPSA as having been so accepted as authorized by this Resolution. 5. I~orm of the Bonds. The Bonds shall he initially in the form of a single, temporary t)vewrinen bond substantially in the form anaehed hereto as Exhibit A. 6. Pavment: Pavinl! Al!ent :lIId Bond Rel!istrar. The following provisions shall apply to the Bonds: (a) For as lon3 as the VPSA is the registered owner of the Bonds, all payments of principal. premium, if any, and imerest on the Bonds shall be made in immediately available funds 10 the VPSA at, or hefore 11 :00 a.m. on the applicable Interest Payment Date or Principal Payment Date, or if such date is not a business day for Virginia banks or for the Commonwealth of Virginia, then at or before 11 :00 a.m. on the business day next preceding such Interest Payment Date or Principal Payment Date. (b) All overdue pa;>111ents of principal and, to the extem pennitted by law, interest shall hear interest at the applicable interest rate or rates on the Bonds. (c) Regions Bank, Richmond, Virginia, is designated as Bond Registrar and Paying Agent for the Bonds. 7. ~o Redenllltiou or I'rcJlavmcut. The Principal Installments of the Bonds shall not be subject to redemption or prepa)lnent. Furthermore, the Council covenants, on behalf of the City, nolto refund or refinance the Bonds without first obtaining the wrinen consent of the VPSA or the registered owner of the Bonds. 8. Execution of the Houds. The \1ayor or Vice Mayor and the Clerk or any Deputy Clerk {~(~87953-1, 0776~e-OG04E-O:) 3 of the Council are authorizcd and directed to execute and deliver the Bonds and to affix the seal of the City thereto. 9. 'Iedl!e of Full Faith and Credit. For the prompt payment of the principal of, premium, if any, and the interest on the Bonds as the same shall becomc due, the full faith and credit of the City arc hereby inevocably pledgcd, and in each year while any of the Bonds shall be outstanding there shall be levied and collected in accordance with law an annual ad valorem tax upon all taxable propcrty in the City subjcct to 10ca] taxation sufficient in amount to providc for the payment of the principal of and premium, if any, and the interest on thc Bonds as such principal. premium, if any, and interest shall become due, which tax shall be without limitation as to rate or amount and in addition to all other taxes authOlizcd to be levied in the City to the cxtcnt other funds of the City arc not lawfully available and appropriated for such purpose. ] o. Use of Proceeds Certificate and Certificate as to Arbitral!e. The Mayor, the City \1anager and such officer or officers of the City as either may designate are hereby authorized and directed to execute a Certiticate as to Arbitrage and a Use of Proceeds Certificate each sctting forth the cxpectcd use and investment of thc, proceeds of thc Bonds and containing such covenants as may be net"Cssary in order to show compliance with the provisions of the Internal Revenue Code of 1986, as amendcd (the "Code"). and applicab]e regulations relating to the exclusion from gross income of intcrest on the Bonds and on the VPSA Bonds cxcept as provided below. The Council co\'enants on beba1f of the City that (i) the proceeds from the issuance and sale of the Bonds will be investcd and expended as set forth in such Certificate as to Arbitrage and such Use of Procccds Ccrti licate and that the City shall comply with tbe other covenants and representations contained therein and (iiJ the City shall comply witb the provisions of the Code so tbat interest on the Bonds anù on the VPSA Bonds will remain excludable from gross income for Federal income tax purposes. 11. State I\'on-Arbitral!e Prol!ram: Proceeds Al!reement. The Council hereby ùetermines tbat it is in the best interests of the City to authorize and direct the City Treasurer to participate in the State Non-Arbitrage Pro!,'fam in cOlUlection with the Bonds. The Mayor, the City Manager and such officer or officers of the City as either may designate are hereby authorized and directed to execute and deliver a Proceeds Agreement with respect to the deposit and investment of procecds of tbe Bonds by and among the City, the other participants in the sale of the VPSA Bonds, the VPSA. the investmcnt manager and the depository. substantially in the fom1 submitted to the Counci]at this meeting, which form is hereby approved. 12. COlltinuilll! Disclosure Al!reement. The Mayor, the City Manager and such officer or omcers of the City as either may designate are hereby authorized and directed to execute a Continuing Disc]osure Agreemcnt, as set forth in Appendix E to the Bond Sale Agreement, setting fOl1h the rcports and notices to be tiled by the City and containing such covenants as may be necessary in order to show compliance with the provisions of the Securities and Exchange Commission Ru]e 15c2-12 and directed to niake all filings required by Section 3 of the Bond Sale (jC?E7~~3-1, 07~e:E-OOC46·Gl) 4 Agreement should the City be detemlined hy the VPSA to be a MOP (as defined in the Continuing Disclosure Agreement). 13. Filinl! of Uesolution. The appropriate officers or agents of the City are hereby authorized and directed to cause a certified copy of this Resolution to be filed with the Circuit Court of the City. 14. Previouslv Authorized Oblil!ations. The Bonds are intended to be issued in lieu of (a) $7,500,000 of the 58,775,000 of general obligation bonds of the City previously authorized by Council for public school capital improvement projects pursuant to Resolution 1\'0.36753-062104, adopted June 21, 2004, and (b) a $7,500,000 Literary Fund loan previously authorized hy Council for the Project pursual1l to Resolution No. 36524-102303, adopted October 23, 2003, neither of which previously authorized obligations has been issued. 15. Further Actions. The mcmbers of the Council and all officers, employees and agents of the City are hereby authorized to take such action as thcy or any onc of them may consider necessary or desirable in eOlmeetion with thc issuance and sale of the Bonds and any such action ' previously taken is hereby ratified and confirmed. 16. Effective Date. This Resolution shall take effect immediately. * * * (~C?S~9~3-1, Cïï2:b-OQú4f-Cl! 5 The undersigned Clerk of the City of Roanoke, Virginia, hereby certifies that the foregoing constitutes a true and correct extract from the minutes of a meeting of the City Council held on September 18, 2006, and of the whole thereof so far as applicable to the matters referred to in such extract. I hereby further certify that such meeting was a regularly scheduled meeting and that, during the consideration of the foregoing resolution, a quorum was present and that the attendance and voting of the members in attendance on the foregoing resolution were as follows:. - - - Present Absent Aye C. Nelson Harris, Mayor x x David B. Trinkle, Vice Mayor ---2\_ x Àlfred T. Dowe, Jr. x x -- Beverly 1. Fitzpatrick, Jr. x X Shemlan P. Lea y x Gwendolyn W. Mason X Brian J. Wishneff --.l(_ X Nay Abstain WITNESS MY HA.l\ID and the seal of the City of Roanoke, Virginia, this ~~ay of September, 2006. tr). ~WrV Clerk, City of Roanoke, Virginia [SEAL] {¡¡8957953-1, 07ï82E-00046-0:] 6 [Patrick Henry] EXHIBIT A (FORM OF TEMPORARY BOND) NO. TS-1 $ UNITED STATES OF AMERICA COMMONWEALTH OF VIRGINIA CITY OF ROANOKE Genenll Ohligation School Bond Series 2006-B The CITY OF ROANOKE, VIRGINIA (the "City"), for value received, hereby acknowledges itself indebted and promises to pay to the VIRGII'lIA PUBLIC SCHOOL AUTHORITY the principal amount of _ DOLLARS ($ ), in annual installments in the amounts set forth on Schedule I attached hereto payable on July 15, 2007 and annually on July 15 thereafter to and including July 15, 2026 (each a "Principal Payment Date"), together with interest from the date of this Bond on the unpaid installments, payable semi-annually on January 15 and July 15 of each year, commencing on July 15, 2007 (each an "Interest Payment Date"; together with any Principal Pa}111ent Date, a "Payment Date"), at the rates per annum set forth on Schedule I attached hereto. Both Plincipal of and interest on this Bond arc payable in lawful money of the United States of America. For as long as the Virginia Public School Authority is the registered owner of this Bond, {i1(;~·E.7?53-:, Ci-/P.26-00046-Û:} A-I Regions Bank, as bond regislrar (Ihe "Bond Registrar"), shall make all paymenls of principal, premium, if any, and inleresl on Ihis Bond, wilhoul Ihe presentalion or surrender hereof, 10 the Virginia Public School Authority, in immediately available funds at or before 11 :00 a.m. on the - -' applicable Payment Dale ;¡r dale fixed for prepayment or redemption. If a Payment Dale or date fixed for prepayment or redemption is not a business day for banks in Ihe Commonwealth of Virginia or for the Commonwealth of Virginia, Ihen the payment of principal, premium, if any, or imeresl on this Bond shall be madc in immediately available funds at or before 11 :00 a.m. on the business day ncxl preceding the schcduled Payment Dale or date fixed for prepa)1nent or rcdemption. Upon receipl by Ihe regislered owner of this Bond of said payments of principal, premium, if any, and interest, written acknowledgment of the reccipt Ihcreof shall be given promptly 10 the Bond Registrar, and thc City shall be fully discharged of its obligation on Ihis Bond to the cxtent of Ihc paymcnl so made. Upon lìna1 paymcnl, this Bond shall be surrendered to the Bond Registrar lor cancellation. The lull failh and crcdit of the City are irrevocably pledged for the payment of the principal of and the premium, if any, and interest on this Bond. The resolution adopted by the City Council authorizing the issuance of the Bonds providcs, and Section 15.~-2624, Code of Virginia 1950, as amended, requires, that there shall be levied and collected an annual tax upon all taxable property in the City subject to IOl'allaxalion suftìcient 10 provide for thc paymenl of the principal, premium, if any, and interesl on this Bond as Ihe same shall become due which lax shall be withoullimitalion as 10 rate or amollnt and shall be jn addition to all olher taxes authorized to be levied in the City to the ex lent other funds oflhe Cily are not lawfully available and appropriated for such purpose. (1I;J9b7Sl:'3 -1, C7782(;-;)004E-Cl) A-2 This Bond is duly authorized and issued in compliance with and pursuant to the Constitution and laws ofthc Commonwcalth of Virginia, including the Public Finance Act of ]991, Chapter 26, Title 15.2, Code of Virginia 1950, as amcnded, and resolutions duly adopted by the City Council and the School Board of the City to provide funds for capital projects for school purposes. This Bond may be exchanged without cost. on twenty (20) days written notice from the Virginia Public School Authority, at the oniee of the Bond Registrar on one or more occasions for two or more temporary bonds or definitive bonds in fully rcgistered fonn in denominations of $5.000 and whole multiples thereof, and; in any case, having an equal aggrcgate principal amount having mamrities and bearing interest at rates corresponding to the maturities of and the interest rates on the installmems of principal of this Bond then unpaid. This Bond is registered in the name of the Virginia Public School Authority on the books of the City kept by the Bond Registrar, and the transfer of this Bond may be effected by the registered owner of this Bond only upon due execution of an assignment by such registered owner. Upon receipt of such assignment and the slincnder of this Bond, the Bond Registrar shall exchange this Bond for definitive Bonds as hereinabove provided, such dcfinitive Bonds to be registered on such registration books in the name of the assignee or assignees named in such assignment. The principal installments of this Bond arc not subject to redemption or prepa)1TIem. All acts, conditions and things required by the Constimtion and laws of the Commonwealth of Virginia to happen, exist or be perfomlcd precedent to and in the issuance of this Bond have hap- pened, exist and have been performed in due time, fonn and manner as so required, and this Bond, i '1;0967:::53-:. 07"l826-00046-0;} A-3 together with all other indebtedness of the City, is within every debt and other limit prescribed by the Constitution and laws of the Commonwealth of Virginia. I~ WIT:"ìESS WHEREOF, the City Council of the City of Roanoke, Virginia has caused this Bond to be issued in the name of the City of Roanoke, Virginia, to be signed by its Mayor or Vice \1avor. its seal 10 be affixed hereto and attested bv the signature of its Clerk or any of its . . ~ .... -' Deputy Clerks, and this Bond to be dated ,2006. CITY OF ROANOKE, VIRGINIA (SEAL) ATTEST: Clerk, City of Roanoke, Virginia Mayor, City of Roanoke, Virginia {#096"7953 -:, 077&:6-(.80.16-C:} A-4 ASSIGN:\1ENT FOR VALUE RECEIVED, the undersigned sells, assigns and transfers unto --, (PLEASE PRL\lT OR TYPEWRITE :\lAME AND ADDRESS, INCLUDING ZIP CODE, OF ASS1GNEE) PLEASE INSERT SOC]AL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE: the within Bond and irrevocably constitutes and appoints __ attorney to exchange said Bond for delinitive bonds in lieu of which this Bond is issued and to register the transfer of such definitive bonds onlhe books kept for registration thercof; with full power of substitution in the premises_ Date: Registered Owner Signaturc Guaranteed: (;-';OTICE: The signature above must correspond with the name of the Registered Owner as it appears on the /Tont of this Bond in every particular, without alteration or change.) (\lOT1er: Signaturels) must be guaranteed by an "eligible guarantor institution" meeting the requirements of the Bond Registrar which requircments will include Membership or parlicipation in STAMP or such other "signature guarantee program" as may be determined by the Bond Re!!istrar in addition to. or in substitution for, - - STA:YIP, all in accordance with the Securities Exchange Act of 1934, as amended_ {;IL:92¡Ç,~.~-1, CÎ7826-0CC46-0~; A-5 SCHEDULE I City of Roanoke Subsidized Local School Bond Fiscal Principal Rate Interest Total Total 7/15/2007 311,412.00 3.800% 194,014.13 $505,426.13 0.00 1/15/2008 0.000% 136,044.73 136,044.73 641,4 70.86 7/15/2008 317.060.00 3.800% 136,044.73 453,104.73 0.00 1/15/2009 0.000% 130,020.59 130,020.59 583,125.32 7/15/2009 317,954.00 3.850% 130,020.59 447,974.59 0.00 1/15/2010 0.000% 123,899.98 123,899.98 571,874.57 7/15/2010 318,965.00 3.850% 123,899.98 442,864.98 0.00 1/15/2011 0.000% 117.759.90 117,759.90 560.624.88 7/15/2011 320,015.00 3.850% 117.759.90 437,774.90 0.00 1/15/2012 0.000% 111,599.61 111,599.61 549,374.51 7/15/2012 321,517.00 4.100% 111,599.61 433.116.61 0.00 1/15/2013 0.000% 105,008.51 105,008.51 538,125.12 7/15/2013 323,489.00 4.100% 105.008.51 428,497.51 0.00 1/15/2014 0.000% 98,376.99 98,376.99 526,874.50 7/15/2014 325,545.00 4.100% 98,376.99 423,921 .99 0.00 1/15/2015 0.000% 91.703.31 91,703.31 515,625.30 7/15/2015 327,686.00 4.100% 91,703.31 419,389.31 0.00 1/15/2016 0.000% 84.985.75 84,985.75 504,375.06 7/15/2016 330,761.00 4.600% 84,985.75 415,746.75 0.00 1/15/2017 0.000% 77 ,378.24 77 ,378.24 493,124.99 7/15/2017 334,819.00 4.600% 77 ,378.24 412,197.24 0.00 1/15/2018 0.000% 69,677 .41 69,677 .41 481.874.65 7/15/2018 338,635.00 4.350% 69.677.41 408,312.41 0.00 1/15/2019 0.000% 62.312.10 62,312.10 470,624.50 7/15/2019 342,194,00 4.350% 62.312.10 404,506.10 0.00 1/15/2020 0.000% 54,869.38 54,869.38 459.375.47 7/15/2020 345,910.00 4.350% 54,869.38 400,779.38 0.00 1/15/2021 0.000% 47,345.83 47,345.83 448,125.21 7/15/2021 349,791,00 4.350% 47.345.83 397,136.83 0.00 1/15/2022 0.000% 39,737.88 39,737.88 436.874.71 7/15/2022 353,845.00 4.350% 39,737.88 393,582.88 0.00 1/15/2023 0.000% 32,041.75 32,041.75 425,624.62 7/15/2023 358,080.00 4.350% 32,041.75 390,121,75 0.00 1/15/2024 0.000% 24,253.51 24,253.51 414,375.25 7/15/2024 362,595.00 4.400% 24.253.51 386,848.51 0.00 1/15/2025 0,000% 16.276.42 16,276.42 403,124.92 7/15/2025 367,405.00 4.400% 16,276.42 383,681 .42 0.00 1/15/2026 0.000% 8,193.51 8.193.51 391,874:92 7/15/2026 372,432.00 4.400% 8,193.51 380,625.51 0.00 1/15/2027 0.000% 0.00 0.00 380,625.51 7/15/2027 0.00 Debt Total S 6,740,110.00 $ 3,056,984,82 $9.797,094.82 Premium Grand Total $ 6,740,110.00 Dated Date: 11/9/2006 EXHIBIT B The proceeds of the Bonds will be used to finance the construction of certain capital improvements and the acquisition and installation of certain capital equipment for Patrick Henry High School. !#C9EJ~~3-1, C77625-00046-0:; IPatrick Henry] VIRGINIA PUBLIC SCHOOL AUTHORITY BOND SALE AGREEMEl'ìT ì\ame of Jurisdiction (the "Local Unit"): City of Roanoke, Virginia Sale Date: The VPSA Sale Date (expected to be on or about October 11, 2006) Closing Date: On or about November 9,2006 Proceeds Requested: S7.500,OOO Maximum Authorized Par Amount: S7,500,OOO Amortization Period: 20 years ********************************************************************************* I. The Virginia Public School Authority ("VPSA") hereby offers to purchase, solely Irom the proceeds of the VPSA's bonds, your general obligation school bonds at a price, determined by the VPSA to be lair and accepted by you, that. subject to VPSA 's purchase price o/'jectil'C and market conditions described below, is substantially equal to your Proceeds Requested set forth above (as authorized by your bond resolution). The sale of VPSA's bonds is tentatively scheduled for October 11, 2006 but may occur, subject to market conditions, at any time bctwccn October 2,2006 and October 19,2006 (the "VPSA Sale Date'"). You acknowledge that VPSA has advised you that its objective is to pay you a purchase price for your bonds whidl in VPSA's judgment reflects their market value ( "purchase price o/!jecril'e'J taking into consideration such factors as the amortization schedule YOll have requested for your bonds relative to the amortization schedules requested by the other localities for their respective bonds. the purchase price received by VPSA for its bonds and other market conditions relating to the sale of the VPSA's bonds. You further acknowledge that VPSA has advised you that such factors may result in your bonds having a value other than par and that in order to receive an amount of proceeds that is substantially equal to your Proceeds Requested, you may need 10 issue a par amount of bonds that is greater or less than your Proceeds Requested. You, at the request of VPSA agree to issue an amount of the local school bonds not in excess of the '.-Iaximum Authorized Par Amount to provide, to the tìlllest extent practicable given VPSA's purchase price o/!iectil'e, a purchase price for your bonds and a proceeds amount that is substantially equal to your Proceeds Requested. 'You acknowledge that the purchase price for your bonds will be less than the Proceeds Requested should the Maximum Authorized Par Amount be insuftìcient, based upon VPSA's purchase price ohjeClil'l', to generate an amount of proceeds substantially equal to your Proceeds Requested. 2. You represent that on or before September 27,2006, your local governing body will have duly authorized the issuance of your bonds by adopting a resolution in the form attached hereto as Appendix B (the "local resolution") and that your bonds will be in the form set forth in the local resolution. Any changes that you or your counsel wish to make to the f0I111 of the local n:solution and/or your bonds must be approved by the VPSA prior to adoption of the local ::;I)~:-:n-'~-I. U""';':-;~(I-I...(¡n4h-nl: resolution by your local governing body. 3. You hereby covenant that you will comply with and carry out all of the provisions of the Continuing Disclosure Agreement in the form attached hereto as Appendix E, which agreement is hereby incorporated by reference herein and expressly made a pari hereof for all purposes. The VPSA has defined a Material Obligated Person ("\IIOP") for purposes of the Continuing Disclosure Agreement as any Local Issuer the principal amount of whose local school bonds pledged under VPSA's 1997 Resolution comprises more than 10% of the total principal amount of all outstanding 1997 Resolution bonds. MOP status will be determined by adding the principal amount of your local school bonds to be sold to the VPSA and the principal amount of your local bonds previously sold to the VpSA and currently pledged under VpSA's 1997 Resolution and measuring the total against 10% of the face value of all bonds outstanding as of the Closing Date under VPSA's 1997 Resolution. If you arc or may be a MOP. the \iPSA will require that you file all the infornlation described in thc following paragraph prior to VpSA's distributing its Prcliminary Omeial Statement, currently scheduled for October 2, 2006. '{ou acknowledge that if you arc. or in the sole judgment of VpSA may be, a MOP following the issuancc of your local school bonds that arc the subject of this Bond Sale Agreement, the VPSA will include by speeifie referenee in its Preliminary Official Statements and final Official Statements (for this sale and, if you remain a MOP or become a MOP again after ceasing to be a MOP, lor applicable future sales) the infornlation respecting you ("Your Information") that is on file with the Nationally Recognized Municipal Securitics 1nfornlation Repositories or their respectivc successors ("NRMSIRs") and the Municipal Securitics Rulemaking Board or its succcssors ("MSRB"). Accordingly, if VPSA has determined that you are at any lime a MOP (I) following the dclivery of your local school bonds to the VpSA in connection with this sale. or (II) during the course of any future sale. whether or not you arc a participant in such sale. you hereby represent and covenant to the VpSA that you will fill' such additional inlornlation, ifany. as is required so that Your Information. as of each of(I)(A) thc dale of the VpSA's applicable Preliminary Official Statcment (in the case of this sale, expected to be October 2,2(06), (B) the date of the VPSA's applicable linal Official Statcment (in the case of this sale, expccted to be October 11, 2006) and (C) the date of delivery of the applicable VPSA bonds (in the casc of this sale. expected to be l'\ovember 9, 2006) and (Il) such other datcs associated with future sales as VpSA may specify to you, will be true and correct and will not contain any untrue statement of a material fact or omit to state a material Ület which should be included in '{our Information for the purpose for whieb it is included by specific reference in VpSA's official statement or which is nCGessary to make the statements contained in such information, in light of the circumst¡lIlccs under which lhey were made, not misleading. '{ou further agree to furnish to the VpSA a copy of all filings you make with NR\'IS1Rs and the MSRB subsequent to the date of this Agreement. Such copy will be furnished to the VPSA on or before the day that any such filing is made. The VpSA will advise you within 60 days afler the end of each fiscal year if you were a MOP as of the end of such fiscal year. Upon written request. the VPSA will also advise you of your stalus as a \'lOP as of ¡lilY other date. You hereby covenant that you will provide the certificate described in clause (e) of Section 4 below if VpSA includes Your Information by speeitìe reference in its disclosure documents in connection with this sale or any future sale, whether or not you arc a participant in such sale. 2 4. VPSA's commitment to purchase your bonds is contingcnt upon (I) VPSA's receipt on the Closing Date of (a) your bonds which shall include and otherwise meet the Standard T cnTIS and Conditions containcd in Appendix A hereto, (b) certilied copies of the local rcsolution (scc Appcndix B attached hereto), , (c) an cxccutcd agrecmcnt, among VPSA, you and the other local units simultancously selling their bonds to VPSA, the depository and the invcstmcnt managcr for thc Statc Non-Arbitrage Program ("SNAP"), providing for thc custody, invcstmcnt and disbursement of the proceeds of your bonds and thc othcr gcncral obligation school bonds, and the paymcnt by you and the other local units of the allocable, associatcd costs of compliance with thc Intcrnal Rcvcnuc Codc of 1986, as amcndcd, and any costs incurrcd in conncction with your participation in Sf',;AP (the "Proceeds Agreement"). (d) an executed copy of the Usc ofProcccds Ccrtificatc in the foml attached hereto as Appendix C. (e) ifthc VPSA has included by spccific referencc Your InfOmIation into the VPSA Preliminary ami final Oftìcial Statement: your certi !icate dated the datc of the dclivery of the VPSA's bonds to the effect that (i) ·Your Information was as of the date of the VPSA's Prcliminary and final Official Statements. and is as of thc datc of thc ccrtificate, true and corrcct and did not and docs not contain an untmc statcmcnt of a matcrial fact or omit to statc a matcrial fact which should bc includcd in ·Your Information for thc purposc for which it is includcd by spccific refcrcncc in or which is ncccssary to makc thc statements containcd in such information, in light of thc circumstances under which they were madc, not misleading, and (ii) you have complied with your undertakings regarding the amcndmcnts adoptcd on Novcmbcr 10. 1994 to Rule 15c2-12 under the Sccuritics Exchangc Act of 1934, as amcndcd, (f) an approving legal opinion from your bond counsel in 10mI satisfactory to VPSA as to the validity of the bonds and the cxclusion from gross income lor federal and Virginia income tax purposes of the imerest on your bonds, thc conformity of the temIS and provisions of your bonds to the rcquircmcnts of this Bond Sale Agreement including the appendices attached hereto, and the due authorization, cxccution ,llld delivcry of this Bond Sale Agreement, Continuing Disclosurc Agrccmcnt and thc Procccds Agrccmcnt, and thc validity of thc Continuing Disclosurc Agrccmcnt and the Proceeds Agreement (g) a transcript of the other customary closing documcnts not listcd abovc, and (h) thc proceeds of VPSA's bonds, (11) if you will be using the proceeds of your bonds to rctirc a bond anticipation notc, ccrtificatc of participation or other fomI of intcrim financing (thc "Intcrim Sccurity"), rcccipt by VPSA of (a) an opinion of your bond counsel that, as of thc Closing Dale, the Interim Security will have been paid in full or dcfcased aCl'Ording to thc provisions of thc instrumcnt authorizing the Interim Security (in rcndcring such opinion bond counscl may rely on a letter or certificatc of an accounting or Iinancial professional as to any mathcmatical computations necessary for the basis for such opinion) and (b) an cxccutcd copy of thc escrow deposit agreemcnt/lettcr of instruction providing for thc rctirement of the Interim Security and (Ill) your compliance with thc tcrms of this agrccmcnt. One complete original transcript ofthc documents listed abovc shall bc provided by your counsel to Sidley Austin LLP, bond counsel to VPSA, on the Closing Date or, with VPSA's pemIission, as soon as practicablc thereafter but in no cvcnt more than thirty (30) busincss days alier the Closing Datc. 5. Subject to the l'Onditions dcscribcd in Section 4 hercto. this Bond Sale Agreement shall bccomc binding as of the later ofthc VPSA Salc Date and thc datc you exccute this Bond Sale Agreement. 3 Dated as of September 27, 2006 Virginia Public School Authority By: Authorized VPSA Representative Kame of Jurisdiction: City of Roanoke, Virginia By: Name: Darlene L. Burcham Title: City Manager 4 (For information only; not part of the Bond Sale Agreement.) Please have the presiding oflicer. or other specifically designated agent. of your governing body exeeute two (2) copies of this Bond Sale A¡''I"eement and return them, along with the tax questionnaire attached hereto as Appendix D, no later than close of business on September 27, 2006 to, Richard A. Davis, Public Finance Manager, Virginhl Public School Authority, P. O. Box 1879, Richmond, Virginia 23218-1879 or by hand or courier service, James Monroe Building- 3rd Floor, 101 N. 14th Street, Richmond, Virginia 23219. rhe VPSA recommellds the use of all ol'emight Ilelil'er)' ,~en'ice to eusure time(I' arriVllI of )'our dO('lllllelltS. If your governing body or bond counsel requires more than one originally signed Bond Sale Agreement, please send the appropriate number; all but one will be returned at closing. 5 APPENDIX A to the Bond Sale Agreement STANDARD TERMS AND CONDITIONS Descrihed below are temlS of the local school honds which must be embodied in your bond resolution and bond foml and other conditions which must be met in ordcr for VPSA to purchase your local school bonds on the Closing Date. VPSA will not purchase local school bonds unless allll until SUdl terms arc prcscnt in thc related bond rcsolution and hond form adopted by your go\·erning body and such conditions are met. Interest and Principal Payments Your bonds will bear interest from the Closing Datel set forth in the Bond Sale Agreement and will mature on July IS of the years and in the amounts as established by VPSA. Your bonds will bear interest payable in installments due semiannually on January 15 and July 15. The first principal and interest installmcnts will be payable on July IS, 2007. Your bonds will bear interest at rates 10 basis points (0.10%) above the actual rates on \rpSA's bonds with corresponding principal payment dates. Payment For so long as the VPSA is the registered 0\\11er of your bonds, (i) the paying agent and bond registrar therefor shall be a bank or trust company qualified to serve as such, and If VP~~4 does not purchase your local school bOl/ds on the Closing Date due to your fault, VPSA will invest, in demand or ovemight illl'estments. the amount of its bond proceeds to he used to purchase your local school bonds. If you cure your iililure to delil'er your local school bonds within the sixzv (60) day period following the Closing Date, the VPSA will purchase your local school bonds and your bonds will bear interest from the date of delivery and payment or other date satisfactory to the VPS:-1. You will, however, be required to pay to VPS:·l at your actual closing an amount equal to the lJositil'e d!fJerence, if any, hetween the OInount of interest that would havc acc/"lIed on your local school hands ji-om the Closing Date to your actual closing date and the lesser ofthc amount of interest incomc VPSA was able to earn, during such period, from the ÙII'estmcJlt of its bond proceeds pending their use to purchase your bonds and the arbitrage yield on the VPSA 's honds. I,i¡.OIJ~Ú4Y)-I. 077R26-lJ0055-011 Septcmbl'f 8. 2006 (ii) all payments of principal. premium, if any, ¡md interest shall be made in funds that shall be immediately available to the VPSA on or before II :00 A.M. on the applicable interest or principal payment date, or date fixed for prepayment or redemption, or if such date is not a business day for banks in Virginia or for the Commonwealth, then on or before 11 :00 A.M. on the business day preceding such scheduled due date. Overdue payments of principal and, to the extent pemlilled by law, interest shall bear interest at the applicable interest rates on your bonds. Prepavrnent or Redemntio!l Bonds will be subject to redemption at the option of your governing body, subject to the consent of the VPSA or olher registered owner. Your bond resolution shall providc for prepayment or redemption as follows: The bonds maturing after July 15, 2016 are subject to optional prepayment or redemption prior to maturity by the issuer, from any available moneys, in whole or in part, on any date 011 or after July 15,2016, at the following prepayment or redemption prices 011 the following prepayment or redemption dates, plus accrued interest to the date fixed for prepayment or redemption: Dates Price July 15, 2016 through July 14,2017 July 15, 2017 through July 14,2018 July 15, 2018 and thereafter 101% 100Yz 100 Provided, however, that the bonds shall not be subject to prepayment or redemption prior to their respectiyc maturities except witb the prior written consent of the registered owner. Notice of any such prepayment or redemption shall be given to the registered owner by registered mail at least 60, but not more than 90, days prior to the datc fixed for prepayment or redemption. 1#09864.19-1.077826-00055-01 f September 8. 2006 2 Securitv Your bonds must constitute valid and binding general obligations for the payment of which the full faith and credit of the local unit are irrevocably pledged, and all taxable property within the boundaries of the local unit must be subject to the levy of an ad valorem tax, over and above all other taxes and without limitation as to rate or amount, for the payment of the principal of, and premium, if any, and interest on the bonds to the extent other funds of the local unit are not lawfully available and appropriated for such purpose. Tax Mailers You shall complete the Questionnaire attached hereto as Appendix D to the Bond Sale Agreement and send along with the Bond Sale Agreement for receipt no later than the close of business on September 27, 2006 to Richard A. Davis, Publie Finance Manager, Virginia Public School Authority, either at P.O. Box 1879, Richmond, Virginia 23218-1879 or if delivered by hand to the James Monroe Building- 3rd Floor, 101 N. 14th Street, Richmond, Virginia 23219. You shall execute the Use of Proceeds Certificate in the foml provided in Appendix C attached to the Bond Sale Agreement for receipt by the VPSA at least three business days prior to the Closing Date2 No Composite Issue You will covenant not to sell, without VPSA's consent. any general obligation bonds which are part of the same common plan of financing (and payable from the same source of funds) as your local school bonds, during the period beginning IS days in advance of and ending 15 days after the VPSA Sale Date. As noted in the Bond Sale Agreement, the VPSA Sale Date is expected to be on or about October 1 ], 2006 but, subject to market conditions, may occur any time between October 2. 2006 and October 19, 2006. ' Binding Commitment Suhjeet to the satisfaction of the conditions in Section 4 of the Hond Sale Agreement, the Bond Sale Agreement shall constitute a binding commitment of the Local Issuer to sell its Local School Bonds to VPSA as of the later of the VPSA Sale Date and the date the Local Issuer 2 VP.s:4 reqllires that the Use of Proceeds Certijìcate he execlI/ed separate~vji-olllthe tax certificates prepared hy YOllr bOlld COlllISel. YOllr bOlld cOllnsel may also prepare one or more tax cerl((ìcates that cOlllain sOllie information fOI/nd in the Use ri Proceeds Cert!fìcate in addition /() information sllch as your reasonable expectatiolls as to meeting the requirements to any of the rebate exceptions. ~ I;0986..¡J9-1, 077~2Ú-Ù005.5-0] J September 8. 2006 3 executes the Bond Sale Agrcement. Public I-learin~ and Notice Belore the final authorization of your issuancc of thc bonds by the governing body, thc govcrning body must hold a public hearing on the proposed issue unless thc issuance of such bonds has been approved at referendum. The notice ufthe hearing, mccting the requirements of Scction 15.2-2606, Code of Virginia 1950, as amended, must be publishcd oncc a week for 2 succcssive wceks (notices at least 7 days apart) in a newspapcr published or having gencral circulation in your locality. The public hcaring may not be held less than 6 nor more than 21 days a Iler the date thc sccond noticc appcars in thc ncwspaper. Deliverv VPSA will acccpt delivery of your bonds Q!!)y in thc fonn of a single, typewrittcn, temporary bond, in registered fornl, payable to VPSA. The form ufthc bond is included as Exhibit A to the rcsolution in Appendix B to the Bond Sale Agreement. On 20 days written notice from VPSA, you agrce to deliver, at your expense, in exchange for the typcwrittcn bond, on one or more occasions, one or more temporary bonds or dcfinitive bonds in marketable form ¡md, in any case, in tùlly registered fonn. in denominations of $5,000 and whole multiples thercof, and having the same aggregate principal amount and accming interest at thc samc rates as thc bonds surrendered in exchange, as requested by VPSA. Comprehensive Annual Financial Rcnort Annually for thc life of your bonds, you will be required to submit a copy of your locality's Comprehensive Annual Financial Report ("CAFR") or a1mual audited financial statements to the rating agencies referenced below: Moody's Invëstors Service, Inc. Public Finance Department Attention: Robert Kurttcr 99 Church Street New York, New '1'ork 10007 Fitch Ratings Governmental Finance Attention: Richard J. Raphael Onc State Street Plaza New York, Ncw York 10004 j::t098ti4JY-l.077H2(¡-O(J05S-011 Scplcmber R, If.)Oó 4 [SubsidYJ [Patrick Henry] APPENDIX B to the Bond Sale A¡:reemcnt Resolution No. RESOLUTION AUTHORIZING THE ISSUAl'\CE OF NOT TO EXCEED $7,500,000 GE~ERAL OBLIGATIOl'\ SCHOOL BO~I)S OF THE CITY OF ROAi\'OtŒ, VlRGII'ìIA, SERrES 2006-B, TO BE SOLD TO THE VIRGI:\f.,\ PUBLIC SCHOOL AUTHORITY AND PROVII>ING FOR THE FORM A~D DETAILS THEREOF. WHEREAS, on Scptcmher 22,2004, the Commonwealth of Virginia Board of Education (thc "Board of Educationn) placed thc application (thc "Application") of the School Board of thc City of Roanoke, , Virginia (the "School Board"). for a loan of $7,500,000 (the "Literary Fund Loan") ¡rom the Literary Fund, a permancnt trust t¡md cstablished hy the Constitution of Virginia (thc "Literary fund"), for the construction, renovation and cxpansion of school buildings (thc "Project") in Roanoke, , Virginia (the "City"), on the First Priority Waiting List; WHEREAS, the Board of Education was to have appro\'ed thc relcase of Literary Fund moneys to the School Board and makc a conmlitment to ImUl such moneys to thc School Board (the "Commitmentn) within onc (1) year ofplaccmcnt of the Application on the First Priority Waiting List upon receipt of thc Literary Fund of an unencumhercd sum availahle at least cqual to thc amount of the Application and thc approval. by thc Board of Education, of thc Application as having met all conditions for a loan from thc Literary Fund; \VHEREi\S. thc Board of Education was thereaftcr to have given advances on thc amount of thc Commitmcnt for thc Litcrary fund Loan to thc Sc,hool Board, as construction or renovation of thc Projcct progressed, in cxchange for temporary notcs from thc School Board to the Literary fund (thc "Temporary Kotcs") for thc amounts so advanccd; WHEREAS, after the completion ofthc Projcct and the advance ofthc total amount oflhc Commitmcnt. thc Tcmporary 'Jotes were to havc bccn consolidated into a pemlancnt loannotc of the School Board to thc Literary Fund (thc "Literary Fund Obligation") which was to cvidcncc the ohligation ofthc School Board to repay thc Litcrary Fund Loan; WHEREAS, the Literary fund Ohligation was to havc borne interest at three percent (3%) per annum and mature in annual installments for a period oftwcnly (20) years; WHEREAS, in cOllllection with thc 2006 Intcrcst Ratc Subsidy Program (the "Program"), (4(~271(3·· C77~;.~ :JC{;4~ ~:I B-1 the Virginia I'uhlie Sehoul Authority (the "VPSA") has offered to purchase general obligation school bonds of the City. and the Board of Education has offered to pay, to the City, a lump sum cash payment (the "Lump Sum Cash Payment") equal to the sum of (i) net present value difference, determined on the date on which the VPSA sells its bonds, between tbe weigbted average interest rate that the general obligation school bonds of the City will bear upon sale to the VPSA and the interest rate that the Literary Fund Obligation would have borne plus (ii) an allowance for the costs of issuing such honds oftbe City (the "Issuance Expense Allowance"); WHEREAS, the City Council (the "Council") of the City of Roanoke, Virginia (the "City"), has deternlined that it is necessary and expedient to borrow not to exceed $7,500,000 and to issue its general obligation school bonds for the purpose of financing ccrtain capital projects for school purposes; amI WHEREAS, the City held a public bearing, duly noticed. on June 24,2004, on the issuance of the Bonds (as defilll'd below) in accordance with the requirements of Section 15.2-2606, Code of Virginia 1950, as amended (the "Virginia Code"); and WHEREAS, the School Board of tbe City has, by resolution. requested the Council to authorize the issuance of the Bonds (as hereinalìer defined) and, consented to the issuance of the Bonds; "OW, THEIU:l'OIU:, BE IT RESOLVED BY THE CITY COUNCIL OJ;' TH~: CITY OF ROAì\OKE, VIRGIì\lA: 1. Authorization of Bonds and t.:se of Proceeds. The Council hereby deternlines that it is advisabk 10 contract a debl and issue and sell its general obligation school bonds in an aggregate principal amount not to exceed 57,500.000 (the "Bonds") for the purpose of financing certain capital projects for school purposes described in Exhibit B. The Council hereby authorizes the issuance and sale of the Bonds in the fonn and upon the tenns established pursuant to this Resolution. 2. Sale of the Bonds. It is determined to be in the best interest of the City to accept the otTer of the Virginia Public School Authority (the "VPSA") to purchase Iromthe City, and to sell to the VI'SA, the Bonds at a price. determined by the VPSA to be fair and accepted by the Mayor and the City Manager. The Yrayor, the City Manager, and such officer or officers of the City as either may designate arc hereby authorized and directed to enter into a Bond Sale Agreement dated as of September 27, 2006 with the VPSA providing for the sale of the Bonds to the VI' SA in substantially the fonn submitted to the Council at this meeting, which form is hereby approved (the "Bond Sale Agreement"). 3. Details of the Bonds. The Bonds shall be issuable in fully registered form; shall be ùateù the date of issuance and delivery of the Bonds; shall he designated "General Obligation :~û~~·;¡6~ 1, O?78~G-G~O~5-(1~ B-2 School Bonds, Series 2006-B"; shall bcar intcrcst from thc date of delivery thcrcof payable semi-annually on each January 15 and July 15 beginning July 15,2007 (cach an "Interest Payment Date"), at the rates established in accordanec with Section 4 of this Resolution; and shall mature on July 15 in the years (each a "Principal Payment Date") and in the amounts set fOlth on Schedule I attached hereto (the "Principal Installments"), subject to the provisions of Section 4 of this Resolution. 4. Interest Rates and Principallnst:lIlments. The City Manager is hereby authorized and directed to accept the interest rates on the Bonds established by the VPSA, provided that each interest rate shall be ten one-hundredths of one pereent (0.10%) over the intcrest rate to be paid by the VPSA for the corresponding principal paY~llent date of the bonds to be issued by the VPSA (the "VPSA Bonds"). a portion of the proceeds of which will be used to purchase the Bonds, and provided further, that the true interest cost of the Bonds does not excced five and Ii Iìy one- hundredths percent (5.50 ~-;1) per annum. The Interest Payment Dates and the Principal Installments arc subject to change at the request of the VPSA. The City Manager is hereby authorized and directed to accept changes in thc Interest Payment Datcs and the Prineipa1 Installments at the request of the VPSA, provided that the aggregate principal alllount of the Bonds shall not exeeed the amount authorized by this Resolution. The execution and delivery of the Bonds as described in Section 8 hcreof shall conelusively evidence such interest rates established hy the VPSA and Interest Payment Dates and the Principal Installments requested hy the VPSA as having been so aceeptcd as authorized hy this Resolution. 5. Form of the Bonds. The Bonds shall be initially in the form of a single, temporary tYllewritten hond suhstantially in the fom] attached hereto as Exhihit A. 6. Payment; Pavinl! Al!ent and Bond Rel!istrar. The following provisions shall apply to thc Bonds: (a) For as long as the VPSA is the registered O\\11er of the Bonds, all payments of prim:ipal, premium, if any, and interest on the Bonds shall he made in immediately available tùnds to the VPSA at, or before 1 i :o( a.m. on the app1icahle Interest Payment Datc or Principal Payment Date, or if such date is not a husiness day for Virginia banks or for the Commonwealth of Virginia, then at or before 11 :00 a.m. on the husiness day next preceding sueh Interest Payment Date or Principal PaY111ent Date.. (b) All ovcrdue payments of principal and, to the extent permitted by law, intercst shall bear interl,st at the applicahle interest rate or rates on the Bonds. (C) Regions Bank. Richmond, Virginia, is designatcd as Bond Rcgistrar and Paying Agent for the Bonds. 7. ~o Redemption or Prepayment. The Principal Installments of the Bonds shall not he t!II~::8·.'1¿: :..., C','ï':;::(J ·j:)C-16-;J:} B-3 subject 10 redemption or prepa}1l1ent. Furthennore, the Council covenants, on behalf of the City, not to rcfund or relinance the Bonds without lirst obtaining the written consent of the VPSA or the registered owni.'r of the Bonds. 8. Execution of the Bonds. The Y1ayor or Vice Mayor and the Clerk or any Deputy Clerk of the Council arc authorized and directed to execute and deliver the Bonds and to affix the seal of the City thereto. 9. Pledl!e of Full Faith and Credit. For the prompt payment of the principal of, premium, if any, and the interest on the Bonds as the same shall become due, the full faith and credit of the City are hercby irrevocably pledged, and in each year while any of the Bonds shall be outstanding there shall be levied and collected in accordance with law an annual ad valorem tax upon all taxable property in the City subject to local taxation sufficient in amount to provide for the payment of the principal of and premium, if any, and the interest on the Bonds as such principal. premium, if any, alltl interest shall become due, which tax shall be without limitation as to rate or amount and in addition to all other taxes authorized to be levied in the City to the extcnt other funds of the City are not lawfully available and appropriated for such purpose. 10. Usc of Proceeds Certific:ltc and Certificate as to Arbitral!e. The Mayor, the City Manager and such ollicer or officers of the City as either may designate are hereby authorized and dir<::cted to execute a Certificate as to Arbitrage and a L:se of Proceeds Certificate each setting forth the expected use and investment of the proceeds of the Bonds and containing such covenants as may be necessary in order to show compliance with the provisions of the Internal Revenue Code of 11.)86, as amended (the "Code"), and applicable regulations relating to the exclusion ¡rom gross income of interest on the Bonds and on the VPSA Bonds except as provided bclow. The Council covenants on behall'ofthe City that (i) the proceeds ¡rom the issuance and sale of the Bonds will be invested and expended as set ¡òrth in such Certi lieate as to Arbitrage and such Use of Proceeds Certilieate and that the City shall comply with thc other covenants and representations contained therein and Iii) the City shall comply with the provisions of thc Code so that interest on the Bonds and on the VPSA Bonds will remain excludable fTOm gross income for Federal ineome tax purposes. 11. State l\on-Arbitral!c Prol!ram; Proceeds Al!reemellt. The Council hereby determines that it is in the best interests of the City to authorize and direct the City Treasurer to participate in the State !\o'l-Arbitrage Program in connection with the ßonds. The Mayor, the City Manager and such ollicer or otlicers of the City as either may designate are hereby authorized and directed to execute and deliver a Proceeds Agreement with respect to the deposit and investment of proceeds of the Bonds by and among the City, the other participants in the sale ofthe VPSA Bonds, thl: VPSA, the investment manager and the depository, substantially in the form submittl:d to thl: Couneilatthis mœting, which fornl is hereby approved. 12. COlltilluinl! Disclosure Al!reement. The Mayor, the City Manager and such officer or : ,:1C:~-~~7-: 60:;··1, ~:T:8;;G·-I:~d::.:jG· 01) B-4 orricers of the City as either may designatc arc hcreby authorizcd and directed to execute a Continuing Disclosurc Agreement, as set forth in Appendix E to the Bond Sale Agreement, setting forth the reports and notices to be filed by the City and containing such covenants as may be necessary in order to show compliance with the provisions of the Securities and Exchange Commission Rule 15c2-12 and dirccted to make all tilings required by Section 3 of the Bond Sale Agreemcnt should the City be detcrmincd by the VPSA to be a MOP (as detìned in the Continuing Disclosure Agreement). 13. Filin!! of Resolurion. The appropriate orricers or agents of the City are hereby authorized and directed to cause a eertilied copy of this Resolution to be filed with the Circuit Court of the City. 14. Previous'" Authorized Obli!!ations. The Bonds are intended to be issued in licu of (a) $7.500,000 of the 58,775,000 of general obligation bonds of the City previously authorized by Council for public school capital improvement projects pursuant to Resolution :">10. 36753-062104, adoptcd June 21. 2004, and (b) a $7,500,000 Literary Fund loan previously authorizcd by Council fÖr the Project pursuant to Resolution No. 36524-102303, adoptcd October 23. 2003. neither of which previously authorized obligations has been issued. 14. Fnrther Actions. The members of the Council and all oflicers, employees and agents of the City arc hcrcby authorized to take such action as they or anyone of them may consider necessary or dcsirablc in connection with the issuance and sale of the Bonds and any such action previously taken is hereby ratilied and confirmed. 15. Effective Date. This Resolution shall take efTect immediately. * * * {4¡.~671~~-:, ~17E:6-~ûC16 ~:l B-5 The undersigned Clerk of the City of Roanoke, Virginia, hereby certifies that the foregoing constitutes a true and correct extract from the minutes of a meeting of the City Council held on September 18, 2006, allll of the whole thereof so far as applicable to the matters referred to in such extract. ¡ hereby further certify that such meeting was a regularly scheduled meeting and that, during the consideration of the foregoing resolution, a quorum was present and that the attendance and voting of the members in attendance on the foregoing resolution were as follows:. Present Absent Aye Nay Abstain C. Nelson Harris, Mayor -- David B. Trinkle, Vice Mayor A IIi-cd T. Dowe, Jr. ------ -- _......-- Beverly T. Fitzpatrick, Jr. __...__w___· ----- Shem1an P. Lea __nO .--.----- Gwendolyn W. Mason .-----..--. -- Brian J. WishnelT --....--- W¡TI'ŒSS M'{ HAND and the seal of the City of Roanoke, Virginia, this _ day of September, 2006. C 1crk, City ofRO<Uloke, Virginia [SEAL] ~ Þ. :.:"'t ~.,' j I)". :"";77S)::·-\":.ìr:tj('-Ül } B-6 [Patrick Henry] EXHIBIT A (FORM OF TEMPORARY BOND) ~O. TS-I $ UNITED STATES OF AMERICA COI\IMOI\WEALTH OF VIRGII\IA CITY OF ROA:'JOKE General Ohligation School Bond Series 2006-B The CITY OF ROANOKE, VIRGINIA (the "City"), for value received, hereby acknowledges itself indebted and promises to pay to the VIRGINIA PUBLIC SCIIOOL AUTHORITY the principal amount of ___._._____ DOLLARS (5 ), in annual installmcnts in the amounts set forth on Schcdule I attached hereto payable on July 15, 2007 and annually on July 15 thereafter to and including July 15,2026 (each a "Principal Payment Date"), togcther with intcrcst from the date of this Bond on the unpaid installmcnts. payable semi-annually on January 15 and July 15 of each year. commencing on July 15.2007 (each an "Interest Payment Datc"; togcther with any Principal Payment Date, a "Payment Date"), at the ratcs per annum set forth on Schedule I attached hereto. Both principal of and interest on this Bond arc payable in lawful money of the United Statcs of America. For as long as the Virginia Public School Authority is thc rcgistered owner of this Bond, I~C~d·!l~~-:. G77E:6-080~6 ~:} A-I Regions Bank, as bond registrar (the "Bond Registrar"), shall make all payments of principal, premium, if any, and interest on this Bond, without the presentation or surrender hereof, to the Virginia Public School Authority, in immediately available funds at or before II :00 a.m. on the applicable Payment Date or date fixed for prepayment or redemption. If a Payment Date or date fixed lor prepayment or redemption is not a business day for banks in the Commonwealth of Virginia or fix the Commonwealth of Virginia. then the payment of principal, premium. if any, or interest on this Bond shall be made in immediately available funds at or before 11 :00 a.m. on the business day next preceding the scheduled Payment Date or date fixed for prepa)111ent or redemption. Upon receipt by the registered owner of this Bond of said payments of principal, premium, if any, and interest, written acknowledgment of the receipt thereof shall be given promptly to the 80nd Registrar, and the City shall be fully discharged of its obligation on this Bond to the extent of the payment so made. Upon final payment, this Bond shall be surrendered to the Bond Registrar for canccllation. The full faith and credit of the City are irrevocably pledged lor the payment of the principal of and the premium, if any, and interest on this Bond. The resolution adopted by the City Council authorizing the issuance of the Bonds provides, and Section 15.2-2624, Code of Virginia I <J5(), as amended. requires, that there shall be levied and collected an annual tax upon all taxable property in the City subject to local taxation sufficient to provide for the payment of the principal, premium, if any. and interest on this Bond as the S'Ulle shall become due which tax shall be without limitation as to rate or amount and shall be in addition to all other taxes authorized to be levied in the City to the extent other funds of the City are nOllawfully available and appropriated for such purpose. : i!X'~::;::'6~ 1, ¡..n: C;:'O';~·-Cl i A-2 This Bond is duly authorized and issued in compliance with and pursuant to the Constitution and laws of the Commonwealth of Virginia, including the Public FimUlce Act of 1991, Chapter 26, Title 15.2, Code of Virginia 1950. as amended, allll resolutions duly adopted by the City Counci I and the School Board of the City to provide funds for capital projects for school pUIlJoses. This Bond may be exch¡Ulged without cost, on twenty (20) days written notice 1rom the Virginia Public School Authority, at the office of the Bond Registrar on one or more occasions for two or more temporary bonds or definitive bonds in fully registered form in denominations of $5,000 and whole multiples thereof, and; in any easc, having an equal aggregate principal amount having maturities and bearihg interest at rates corresponding to the maturities of and the interest rales on the instalhnents of principal of this Bond then unpaid. This Bond is registered in the name of the Virginia Public School Authority on the books of the City kept by the Bond Registrar, and thc transtèr of this Bond may be effected by the registered owner of this Bond only upon due execution of an assignment by such registered owner. Upon receipt of such assignment and the surrender of this Bond. the Bond Registrar shall exchange this Bond for definitive Bonds as hereinabove provided, such delinitive Bonds to be rcgistered on such registration books in the name of the assignee or assignees named in such assignment. The plincipal installments of this Bond are not subject to redemption or prepaY1llent. All acts, conditions and things required by the Constitution and laws of the Commonwealth of Virginia to happen, exist or be performed precedent to and in the issuance of this Bond have hap- pencd, cxist and havc been performed in due timc, form and manncr as so required, and this Bond, ~ ~~.''1·::·Î>¿~,·"[, j77S2''::-(;C:)';6-1~1: A-3 together with all other indehtedness of the City. is within every deht and other limit preserihed by the Constitution and laws of the Comlllonweallh of Virginia. IN WITl'IESS WIIEREOj<', the City Council orthe City of Roanoke. Virginia has caused this Bond to be issued in the nallle of the City of Roanoke. Virginia. to be signed by its \1ayor or Vice "Iayor. its seal to be affixed hereto and attested by the signature of its Clerk or any of its Deputy Clerks. and this Bond to he dated .2006. CITY OF ROANOKE. VIRGli\lA (SEAL) ATTEST: Ckrk. City or Roanoke. Virginia Mayor. City of Roanoke. Virginia :i![IJS72.55 1, ~:-r!8~r; C~(:~5 Ol} A-4 ASSIG:'oIMENT FOR VALUE RECEIVED, the undersigned sells, assigns and transfers unto (PLEASE PRINT OR TYPEWRITE :-JAME A:-JD ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE) PLEASE INSERT SOCIAL SECUIUTY OR OTHER IDENTrFYTr"G NUMBER OF ASSIG:-JEE: the within Bond and irrevocably constitutes and appoints attorney to exchange said Bond for definitive bonds in lieu of which this Bond is issued and to register the transfer of such definitive bonds on the books kept lor registration thereof, with fÌlll power or substitution in the premises. Date: Registered Owner Signature Guaranteed: (NOTICE: The signature above must correspond with the name of Ihe Registered O\vller as it appears on the front of this Bond in every parlieu lar. without alteration or change.) (1\011C£: Sih'11ature(s) must be guaranteed by an "eligible guarantor institution" meeting the requirements of the Bond Registrar which requirements will include Membership or participation in STAMP or such other "signature guarantee program" as may be detcfI11ined by the Bond Registrar in addition to, or in substitution lor, STA\1P, all in accordance with the Securities Exchange Aet or 1934, as amended. i 1¡;."?'::"ïlÓ:· :, (";::.i.-.t:-~I('")·1·~<':} A-5 SCHEDULE I City of Roanoke Subsidized Local School Bond Fiscal Principal Rate Interest Total Total 7/15/2007 311,412,00 3.800% 194,014.13 $505,426.13 0.00 1/15/2008 0.000% 136,044.73 136,044.73 641,470.86 7/15/2008 317,060.00 3.800% 136,044.73 453,104.73 0.00 1/15/2009 0.000% 130,020.59 130,020.59 583,125.32 7/15/2009 317,954.00 3.850% 130,020.59 447,974.59 0.00 1/15/2010 0.000% 123,899.98 123,899.98 571,874.57 7/15/2010 318,965.00 3.850% 123.899.98 442,864.98 0.00 1/15/2011 0.000% 117,759.90 117,759.90 560,624.88 7/15/2011 320,015.00 3.850% 117,759.90 437,774.90 0.00 1/15/2012 0.000% 111,599.61 111,599.61 549,374.51 7/15/2012 321,517.00 4.100% 111,599.61 433,116.61 0.00 1/15/2013 0.000% 105,008.51 105,008.51 538,125.12 7/15/2013 323,489.00 4.100% 105,008.51 428,497.51 0.00 1/15/2014 0.000% 98,376.99 98,376.99 526,874.50 7/15/2014 325,545.00 4.100% 98,376.99 423,921.99 0.00 1/15/2015 0.000% 91,703.31 91,703.31 515,625.30 7/15/2015 327,686.00 4.100% 91,703.31 419,389.31 0.00 1/15/2016 0.000% 84,985.75 84,985.75 504,375.06 7/15/2016 330,761.00 4.600% 84,985.75 415,746.75 0.00 1/15/2017 0.000% 77 ,378.24 77,378.24 493,124.99 7/15/2017 334,819.00 4.600% 77 ,378.24 412,197.24 0.00 1/15/2018 0.000% 69,677.41 69,677 .41 481,874.65 7/15/2018 338,635.00 4.350% 69,677.41 408,312.41 0.00 1/15/2019 0.000% 62,312.10 62,312.10 470,624.50 7/15/2019 342,194.00 4.350% 62,312.10 404,506.10 0.00 1/15/2020 0.000% 54,869.38 54,869.38 459,375.47 7/15/2020 345,910.00 4.350% 54,869.38 400,779.38 0,00 1/15/2021 0.000% 47,345.83 47,345.83 448,125.21 7/15/2021 349.791.00 4.350% 47,345.83 397,136.83 0.00 1/15/2022 0.000% 39,737.88 39,737.88 436,874.71 7/15/2022 353,845.00 4.350% 39,737.88 393,582.88 0.00 1/15/2023 0.000% 32,041.75 32,041.75 425,624.62 7/15/2023 358,080.00 4.350% 32,041.75 390,121.75 0.00 1/15/2024 0.000% 24,253.51 24,253.51 414,375.25 7/15/2024 362,595.00 4.400% 24,253.51 386,848.51 0.00 1/15/2025 0.000% 16,276.42 16,276.42 403,124.92 7/15/2025 367,405.00 4.400% 16.276.42 383,681.42 0.00 1/15/2026 0.000% 8,193.51 8,193.51 391,874.92 7/15/2026 372,432.00 4.400% 8,193.51 380,625.51 0.00 1/15/2027 0.000% 0.00 0.00 380,625.51 7/15/2027 0.00 Debt Total $ 6,740,110.00 $ 3,056,984.82 $9,797,094.82 Premium Grand Total $ 6,740,110.00 Dated Date: 11/9/2006 EXHIBIT B The proceeds of the Bonds will be used to linanee the constmction of certain capital improvements and the acquisition and installation of ccrtain capital equipmellt for Patrick Henry Iligh School. (I}atrick Henry] APPEJliDIX C to the Bond Sale Agreement USE OF PROCU:DS CERTIFICATE FOR JliEW MONEY The S General Obligation School Bonds. Series 2006-13 (the "Bonds") issued by the City of Roanoke, Virginia (the "Issuer") will be purchased by the Virginia Public School Authority ("VPSA") from the proceeds of the VPSA's $ School Financing Bonds (1997 Resolution), Series 2006 13 (the "VPSA's Bonds"), pursuant to a Bond Sale Agreement dated as of September 27,2006. The proceeds of the Bonds will be used to acquire, eonstmet and equip public school facilities owned and/or operated by the school board lor the Issuer (the "School Board"). The Issuer and the School Board each recognize that certain facts, estimates and representations set forth in the Certificate as to Arbitrage executed by VPSA in connection with the issuance of the VPSA's Bonds must bc bascd on thc representations and ('ertifications of the Issuer and the School Board, upon which VPSA and Sidley Austin LI.P, its bond counsel ("Bond Counsel") rely, and that the exclusion from gross income for federal income tax purposes of the interest on the VPSA's Bonds depends on the use of proceeds of the VPSA's and the Issuer's Bonds, Accordingly, the Issuer and the School Board hereby covenant that: Section 1. Description of Proiec!. The proceeds of the Bonds, including investment income thereon ("proceeds"), will be used to !inance the acquisition, constmetion, and equipping of public school facilities of the Issuer (the "Project''). Section 2. Governmental Use of Proceeds, The Issuer and the School Board eo\'enant the following with respect to the use of proceeds of the Bonds and the facilities llnaneed therewith: (a) In General. (i) Private Business Use. No more tban ten percent (10°"'0) of the proceeds of the Bonds or the Project (based on 11](' greatest of: (A) the cost allocated on the basis of space occupied. (13) the fair market value, or (C) the actual cost of construction) has been or, so long as the Bonds are outstanding, will be. used in the aggregate tor any activities that constitute a "Private Use" (as such term is detìned below in subsection (d) of this Section 2). (ii) Private Seeuritv or Pavment. 'iIo more than ten percent (IO'};,) of the principal of or interest on the Bonds, under the terms thereof or any underlying arrangement, has been, or, so long as the B,onds arc outstanding. will be, directly or indirectly, (A) secured by any interest in (I) property used for a Private Lse or (II) payments in respect of such property or (8) derived from payments in respect of property used or to be used for a Private Use, whether or not such property is a part of the Project. :;t;flt)~73J7·1. 07ì~2fl.(J(I046-01: C-l (b) No Disproportionate or l:nrelated Use. With respcctto private business use disproportionate to or not related to governmental use financed or refinanced with the proceeds of the Bonds, no more than live percent (5~·ó) of the principal afar interest on such Bonds, under the terms thereo f or any underlying arrangement. has bccn, or, so long as the Bonds arc outstanding, will be, directly or indirectly, (x) secured by any interest in (I) property used for a Private Use or (J I) payments in respect of such property or (y) derived from payments in respect of property used or to be used for a Private Use. whether or not such property is a part of the Project. (c) No Private Loan Financing. 1\0 proceeds of the Bonds will be used to make or ¡ìnanee loans to any person other than to a state or local governmental unit. (d) Definition of Private Use. For purposcs of this Certificate, the tcrm "Private Cse" means any activity that constitutes a trade or business that is earricd on by persons or entities other than state or local governmcntal entities. Any activity carried on by a person other than a natural person is treated as a trade or business. The leasing of property financed or rcfinanced with the proceeds of the Bonds or the access of a person other than a state or local govemmental unit to property or services on a basis other than as a member of the gencral public shall constitute Private Use unless the Issuer obtains an opinion of Bond Counsel to the contrary. Use of property 1Ìnaneed or refinanced with proceeds of the Bonds by any person, othcr than a statc or local governmental unit, in its trade or business constitutes general public use only if the pruperty is intended to be available and is in fact reasonably available lor use on the same basis by natural persons not engagcd in a trade or business ("General Public Use"). Inmost cases Private Use will occur only if a nongovernmental person has a special legal cntitlement to use the financed or relinanced property under an arrangement with the Issuer or the Sehuol Board. Such a special legal entitlement would include ownership or actual or beneficial use of the Project pursuam tu a lease. management or incentive payment contract. output contract, research agreement or simi lar arrangement. In the case of property that is not available for General Public Use, Private Use may be established solely on the basis ofa spccial economic benefit to une or more nongovernmental persons. In detemlining whether special economic benefit gives rise to Private Cse, it is neccssary to consider all of the facts and t'ireumstances, including one or more of the following factors: (i) whethcr the linanced or refinanced property is functionally related or physically proximate to property used in the trade or business of a nongovernmental person; (ii) whether only a small number of nongovernmcntal persons receive the cconomic benclit; and (iii) whether the cost of the 1Ìnanced or refinanced propcrty is treated as depreciable by the nongovernmental person. As of the date hereof, no portion of the Project is leased (or will be so leased) by the Issuer or the School Board (or a related party or agent) to a person or entity other than a statc or local governmental unit ur tu members of the general public fur General Public Use. :itf)':lS7JJ7-1. 07iX;!Ö-orl(¡...(¡-OI :·('-2 (e) Management and Service Contracts. With rcspect to management and service contracts, the determination of whether a particular usc constitutcs Private Use under this Ccrtificate shall be detennined on thc basis of applying Revenue Proeedure 97-13,1997-1 C. B. 632, as modilìcd by Rcvcnue Procedure 2001-39, 2001-2 C.B. 38 (collcctively, "Rcvenuc Procedure 97-13"). As of the date hereof, no portion of the procceds derived from thc sale ofthc Bonds is bcing uscd to finance or refinance property subjcct to contracts or other arrangcments with persons or cntitics engaged in a tradc or business (other than govcrnmcnta1 units) that involve the management of property or thc provision of scrvices with rcspect to propcrty ¡ìnanccd or refinanced with proceeds of thc Bonds that does not comply with the standards of Revenue Proeedure 97-13. For purposes of detennining the nature of a Private Use, any arrangement that is properly characterized as a lease for federal income tax purposes is treated as a lease. Consequently, an arrangement that is referred to as a management or servicc contract may nevertheless be trcated as a lease. In dctermining whether a management contract is properly characterized as a lease, it is necessary to consider all of the filcts and circumstanccs, including the following factors: (i) the dcgrec of control over the property that is exercised by a nongovernmcntal person; and (ii) whether a nongovernmental person bcars risk of loss of the financed or refinanced propcrty. Seetion 3. Time Test and Duc Diligence Tcst. The Issuer or the School Board have incurred or will incur within 6 months of the date hercof substantial binding obligations, which arc not subject to contingencies within the control of the Issuer or the School Board or a related party, to third parties to expcnd at least 5~';' of the net sale proeeeds of the Bonds on the Project. The Issuer and ¡he School Board will proceed with due diligence to spend all of the proceeds of thc Bonds within three years of the date hereof. Scction 4. Dispositions and Change in Use. (a) 1\0 Sale or Disposition. The Issuer and the Sehool Board expect to own and operate and do not expect to sell or otherwise dispose of the Project, or any component thcrcot: prior to the Iinalmaturity date of the VPSA's Bonds (August 1, [20_]). (b) No Change in Cse. The Issuer and thc School Board represent. warrant and covenant that the facilitics lìnanccd or rcfinanced with proceeds of the Bonds will be used for thc govcrnmcntal purpose of the Issucr and the School Board during the period of time thc Bonds arc outstanding, unless an opinion of Bond Counscl is reeeived with respect to any proposed change in use ofthc Project. Section 5. 1\:0 Sinking or Pledgcd Funds. The Issuer and thc School Board have not established and will not establish any limds or accounts that are reasonably cxpcctcd to be uscd to pay dcbt service on the Bonds or that arc pledged (including ncgative pledges) as collateral for the Bonds for which there is a reasonable assurance that amounts on deposit thercin will be available to pay debt service on the Bonds ifthc Issuer or the School Board encountcrs financial di ftìcuhy. lff(llH7~n-]. u77~2{¡-0(1I)...11·(I] lC-3 Section 6. No Replacemcnt Proceeds. (a) In General. "10 portion of the proceeds of the Bonds will be used as a substitute for other funds that prior to the Issuer's resolving to proceed with the issuance of the Bonds was used or is to be used to pay any cost of the Project. (b) Safc Harbor. In accordancc with Section 1.148-1(c) of thc Trcasury Regulations regarding the salè harbor against thc creation of "replacement proceeds", as of the date hereof, the weighted average maturity of the Bonds does not exceed 120% of the reasonably expected economic life of the Project financed thereby. Section 7. No Refundinl(. The proceeds of the Bonds will not be used to provide for the payment of any principal of or interest on any obligations of the Issuer, other than the Bonds, incurred in the exercise of its borrowing power. Section S. Composite Issue. Except for the 1ssuer's General Obligation School Bonds, Series 2006-A. there arc no other obligations of [he Issuer that have been, or will he (a) sold within 15 days of VPSA 's Bonds. (b) sold pursuant to the same plan of Ilnancing together with the Bonds, and (c) paid out of substantially the same source offunds as the Bonds. Section 9. "10 Federal Guarantee. The Issuer and the School Board shall not take or pernlit any action that would cause (a) the payment of principal of or interest on the Bonds to he guaranteed, directly or indirectly, in whole or in part by the United States or any agency or instrumentality thereof or (h) 5 percent or more of the proceeds of the Bonds to be (i) used in making loans the payment of principal of or interest on which is guaranteed in whole or in part by the United States c,r any agency or instrumentality thereof or (ii) invested directly or indired]y in federally insured deposits or accounts (except as pernlitted under Section 149(b) of the Internal Revenue Code of 1986, as amended (the "Code"), or the regulations promulgated thereunder). The Issuer and the School Board have not, and will not enter into, any (i) long-term service contract with anv federal governmental a"encv (ii) service contract with anv federal ~ 0 ..' -' governmental agency under terms that are materially diftèrent from the terms of any contracts with any persons other than tèderal government agencies, and (iii) lease of property to any federal government agency that would cause the Bonds to be considered "federally guaranteed" within the meaning of Sect ion 149(b) of the Code. Section 10. No Hedlle Ronds. The Issuer and thc School cach reasonably expects that all of the net sale proceeds of the Bonds will be used to pay the cost of the Project within tbree years of the date hereof. Furthernl0re, not more than 50 percent of the proceeds of the Ronds will be invested in Nonpurpose Investments (as such ternl is de lined in Scction 148(f)(6)(A) of the Code) having a substantially guaranteed yield for four years or more. Section 11. No Overissuance. The total proceeds derived by the Issuer from the sale of the Bonds and anticipated investment earnings thereon do not exceed the total of the amounts necessary to Ilnance the Project. Section 12. Reimbursable Expenses. A portion of the procecds of the Bonds to be applied to the cost of the Project will be used to reimburse the Issuer for expenditures incurred thereby with respect to the Project in anticipation of the issuanee of the Bonds. The Issuer and :#/)q~7]'J7-1. (J77lt~1l..()((J46..I)IIC-4 the School Hoard represent the following with respect to the costs of the Project to be reimbursed rromthe proceeds orthe Bonds. (a) Oflìeial Intent. The total amount of reimbursed costs incurred by the Issuer with respect to the Project is not expected to exceed 57.500,000. Such expenditures were paid prior to the date hereof but no earlier than sixty (60) days prior to June 21, 2004, which is the date the Issuer or the School Board adopted its "official intent'" declaration (the "Oflìeial Intent Declaration") in accordance with Section 1.150-2 of the Treasury Regulations. The Official Intent Declaration: (i) was, on the date of its adoption, intended to constitute a written documentation on behalf of the Issuer that states that the Issuer reasonably expected to reimburse itself for such expenditures with the proceeds of a taxable or tax-exempt borrowing, (ii) set forth a general description of the Project. and (iii) stated the maximum principal amount of debt expected to be issued for the Project. Neither the Issuer nor the School Board has taken any action subsequent to the expression of such intent that would contradict or otherwise be inconsistent with such iment. (b) Reasonable Oflieial Intent. As or the date of the Oflieial Intent Declaration, the Issuer reasonably expected to reimburse such expenditures with the proceeds of a borrowing. The Issuer does not have a pattern of failing to reimburse expenditures for which an intention to reimburse such expenditures was declared and which were actually paid by the Issuer other than in circumstances that weTe unexpected and beyond the control of the Issuer. (el Reimbursement Period Requirement. The proceeds derived from the sale of the Bonds to be applied to reimburse the above-described expenditures will be so applied no later than the later orthe date that is (i) eighteen (18) months afier the date on which the expenditure being reimbursed was paid, or (ii) eighteen (18) months afier the date on which the portion of the Project to which such expenditure relates was placed in service (within the meaning. of Section 1.150-2 of the Treasury Regulations) or abandoned. The Issuer shall not, however, use Bond proceeds to reimburse the above-described expenditures later than three (3) years afier the date the original expenditure was paid. (d) Reimbursable Expenditures. The expenditures to be reimbursed are either (i) capital expenditures (within the meaning of Section 1.150-1 (b) of the Treasury Regulations). (ii) costs of issuance. (iii) certain working capital expenditures for extraordinary, nonrecurring items that are not customarily payable rrom current revenues (within the meaning of Section 1.148-6 (d) (3) (ii) (B) of the Treasury Regulations), (iv) grants (within the meaning of Section 1.148-6 (d) (4) of the Treasury Regulations), or (v) qualified student loans, qualified mOltgage loans or lJualified veterans' mortgage loans (within the meaning of Section 1.150-1(b) of the Treasury Regulations). None of the i#UI)S7JJ7-1. 077X2'I-fll)O"\(J-()]I C-5 expenditures to be reimbursed were ineurred for day-to-day operating eosts or similar working capital items. No portion of the proceeds of the Bonds being used to reimburse the Issuer for prior expenditures will be used. directly or indirectly, within one year of the date of a reimbursement allocation, in a manner that results in the creation of replacement proceeds (within the meaning of Section 1.148-1 of the Treasury Rcgu1ations), other than amounts deposited in a bona fìde debt service fund. (e) Anti-Abuse Rules. None of the procecds of the Bonds is being used in a manner that employs an abusivc arbitrage device under Section 1.148-10 of the Treasury Regulations to avoid the arbitrage restrietions or to avoid the restrictions under Sections 142 through 147 ofrhe Code. Section 13. Private Activitv Covenants. The Issuer and the School Board each represents, warrants and covenants that it will take no action that would cause either the Bonds or the VPSA's Bonds to be private activity bonds within the meaning of Section 141(a) of the Code and that it will not fail to take any action that would prevent the VPSA's Bonds and the Bonds from being private activity bonds, within the meaning of Section 141(a) of the Code. Furthenl1ore, the Issuer and the School Board have established reasonable procedures to ensure wmpliance with this covcnant. Section 14. Cuvcnant as to Arbitrage. The Issuer and the School Board each represents. warrants and covenants tbat whether or not any of the Bonds remain outstanding, the money on depusit in any Iì.md or account maimained in connection with the Bonds, whether or not such money was derived from the proceeds of the sale of the Bonds or from any other sources, will not be used in a manner that would cause the Bonds or the VPSA's Bonds to be "arbitrage bonds" within the meaning of Section 148 of the Code and the applicable regulations thereunder. Scction 15. Tax Covenant. The Issuer and the School Board each represents, warrants and covenants that it will not take any action which will. or fail to take any action which failure will. cause the interest on the Bonds or the VPSA's Bonds to become includable in the gross income of the owners of the Bonds or the VPSA's Bunds for federal income tax purposes pursuant to the provisions of the Code and the regulations promulgated thercunder in effect on the date of original issuance of the Bonds and the VPSA's Bonds. :;1tlW.:73J7-1, U77~C!{¡·{)n(J...(J.n] ¡C-6 Date; CITY OF ROANOKf:, VIRGI~IA l3y; Name: Darlene L. Burcham Title: City Manager SCHOOL BOAIU> OF THE CITY OF ROANOKE, VIRGINIA By: Kame: David B. Carson Title: Chairman 1#()1)87337-I, (J77¡':~6-{)!.IU-H)-OllC-7 APPENDIX D to tlte Bond Sale Agreement COl'ìSTRUCTlOl'ì EXCEPTIO:'ll AND E1GIITEEN-:\IONTH EXCEPTION TO THE REBATE IŒQUREMENT QUESTIONNAIRE The purpose of this questionnaire is to elicit facts concerning the cxpenùiture of the procceds oi" the City of Roanoke, Virginia (the "Issuer") general obligation school honds (the "Bonds") in order to make an initial determination that the construction exception from the rebate' requirement provided by Scetion 148(1)(4)(C) of the Internal Revenue Code of 1986. as amended, or the cighteen month exception from thc rebate rcquirement providcd by Scction 1.148-7(d) of the Treasury Regulations is available. PIc~lse supply thc infoTIIlation requested below and send this questionnaire to Richard A. Davis. Public Finance \>Ianager, Virginia Public School Authority, 1'. O. Box 1879, Richmond, Virginia 23218-1879, lor receipt no later September 27, 2006, with a copy to your bond counsel. I. Brielly describe the project (the "Project") to he fimUleed with the proceeds of the Bonds including the usefullilè of the projeet(s) being (inanecd. --+---- 1 (a) Indieatc the total amount of proceeds to be derived from the sale oi"the Bonds. (b) Indicate the amount that you reasonahly expect to receive from the investml'nt of the Bond prol'œds prior to spcnding all of the Bond proceeds set forth above in Question 2 (a). (c) Indicate the amount ofproceeùs derived from the sale of the Bonds that you expcet to use to finance the issuance costs of the Bonds. (e.g. your legal fees) (d) The amount Jet forth in Questions 2(a) plus the amount set forth in Question 2(b) : :;f)\I~("¡·I·l-l, !)77~~6-f)r.I():'5·(] } reduccd by thc amount sct forth in Question 2(c) cquals $ . This allloulll is hcreinafter referred to as "Available Construction Proceeds". Any bond preminm derived from sllle of the bonds and any investment earnings thereon will be treated as Available Construction Proceeds. 3. 1ndicatc ¡hc amount of money, othcr than thc Available Construction Proceeds of the Bonds, that will bc applied toward the cost of thc Projcct ¡lIld the cxpected sourcc of such money. Indicatc what such money will be used for. 4. Indicate. by principal eomponcnts. your current estimatcs of the cost for the acquisition and construction of thc l'rojeetthat will bc financed with the Available Construction Proceeds of the Bonds. including: (a) Acquisition of'lnterest in Land (b) Acquisition of Interest in I Real Property (e) Acquisition and/or Installation of Tangible Personal Propert! (d) Site Preparation (c) Construction of Real Property' (I) Reconstruction of Reall'ropert/ (g) Rehabilitation of Real Property' (h) Construction ofTangiblc Personal Property" (i) Specially dev~loped computer software' U) Interest on the gonds during Constmetion (k) Other (please specifY) s (I) Total $ (!\;ote: The sum of thc amounts described in (a) through (k) must equal the amount of Available Construction Proceeds of the Bonds set forth in Qucstion 2(d).) t·; Sl'l'lhl' I:nùn\,\t"s l1l1 j'la~6 [)-7 :md [)-~. {-!1:.;-2':·]·~:; <.i September 5. :!(Jf)Ci D-2 5. (a) Have you borrowed, directly or indirectly. (such as through an industrial dcvelopmc'lt authority) any money, either through a tax-exempt bank loan, a bond anticipation note, any tax-exempt or taxahle ohligation or otherwise (a "loan"), to pay for the Project costs? Yes 1\0 (h) Do you intend to use the proceeds ofthc Bonds to rcfinance or repay any loan used to financc thc Projcct costs'? '{es No (c) If the answcr to Qucstion 5(b) is "Yes", please attach a copy of the BAN, COP, or other evidence of thc loan and any tax certi ficate executed with such loan and indicate the lollowing: (i) Amount olÎoan: (ii) Date ofloan: (iii) Maturity datc of loan: (iv) Interest rate ofloan: (v) Name ofknder: (vi) Refinance or repayment date: (vii) Amount of unspent proceeds, ifany: (viii) Where unspent proceeds arc being held (e.g. SNAP): (d) If the answer to question 5(a) or (h) is "Yes", did you usc thc proceeds of the loan to reimburse yourself for expenses paid with respect to the Project before the loan was ohtained? Yes :'>10 (e) If the answer to question 5(b) is "Yes", do you expect to qualify for (hc small issuer exœption for the loan. 6. (a) Do you intend to reimburse yourself ¡rom the proceeds of the Bonds lor Projcct costs advanced from your Gcncral Fund or othcr availahle sources'? ·Yes No : 1;.<.': t:";':¡':: "I: S\.'ptl'mbcr.5,200(1 0-3 (b) If the answer to Question 5(d) or Question 6 (a) is "Yes", with respect to all such expenditures, please indicate the amount of such expenditure, when such expcnditun: was paid and the purpose of the expenditure (i.e., architectural fees, enginccring fees, other construction costs): (i) Amount expended S (ii) Date of expenditure: (iii) Purpose of expenditure: (~otc: if you intend to reimburse yourself for more than one expenditure, please attach a rider setting forth: (i) amount expended, (ii) date of expenditure, and (iii) purpose of expenditure) 7. If the answer to Question 5(d) or (;(a) is "Yes" please attach a copy of any other evidence of your intention to reimburse yourself with the proceeds of a borrowing such as the earliest possible resolution, declaration or minutes of a meeting. Include the date such resolution was adopted. meeting was held or deelarationll1ade. The purpose of questions 8. 9 and 10 is to determine if the Bonds may (ualify for the Construction Exception from the Rebate Requirement.] 8. Indieatc whether the total of the amounts shown in 4(d) through (i) on page D-2 is at least 75°" of the amount of Available Construction Proceeds (i.e., 75% of the amount in 4(i). Yes No If the answer to Question 8 is "'I' es", answer Question 9 and skip Qucstion 10. If the answer to Qliestion 8 is "\10", skip Question 9 and answcr Question 10. 9. (a) Assuming thc Bonds are delivered on November 9, 200(; and funds are made available to you on that date, please complete the fòllowing schedule indicating the amount of Available Construction Proceeds that the City/County expects to expcnd and disburse during the (òllowing timc pcriods: From November 9,200(; to May 9, 2007 From :Ytay 10,2007 to :"Jovembcr 9,2007 From November 10,2007 to May 9, 200S From :'vlay 10, 2008 to ~'ovember 9, 2008 "I" I? oW S x $ :s "nil l SCl' the [nùrlllll's (Ill P;lgC D-H ¡ ¡¡: :)~.::.(.'!' ·1·; ~: Scptembl:r 5. 20{C) D-4 (b) If you do not expect to spcnd 100% of Available Construction Proceeds by Novcmber 9, 2008, do you expect to spend 100'~'í, of Available Construction Proceeds by November 9. 2009'! Yes ~o 10. For purposes of this Question 10, assume that tbe Bonds arc delivered on November 9, 2006 and funds arc made available to you on that date. (a) Does tbe City/County expect to cxpend and disburse tbe amount shown in QUl,stion -I(a) for the acquisition ofland by May 9, 20U7? Yes :-<0 (b) Docs the City/County expect to expend and disburse the amount shown in Question -I(b) for the acquisition olïnterests in real property by May 9. 2007? Yes 1\0 (c) Docs the City/County expcetto expend and disburse thc amount sbown in Question -I(c) for the acquisition and/or installation of tangible personal Propcrty by May 9, 2007~ Yes No (d) (i) Docs the City/County expect to expend and disburse the amount shown 111 question -1(1) by :-<ovember 9, 20U9? Yes 1\0 (ii) Assuming that the Bonds arc delivered on May 11,2006, and funds are made available to you on that date, please complete the tòllowing schedule Üldicaling the amount of Available Construction Proceeds thatlhe City/County expects to expend and disburse during the following time periods: From I\ovcmber 9,2006 to :'v1ay 9, 2007 From May 10,2007 to Novcmber 9, 2007 From I\owmber 10,2007 to Y1ay 9, 200S From May 10,2008 to November 9, 200S $------------ ...11) Total s I ( S~l' ¡hl' Elld:;\'[l'S IlIl pagl' D-~. \. ;1'~;'[</l!'·1··',; ScptL'mh\.'r 5. 20()ó D-5 [The purpose of question]] is to determine if the Bonds may qnalify for the Ei~hteen Month Exception from the Rebate Reqnirement. II. The sum ofthc amounts sct forth in Questions 2(a) and 2(b) equals S (the "gross proceeds"). Assuming that thc Bonds arc delivered on I'\ovcmber 9, 2006 and funds arc made available to you on that datc, please complete the following schedulc indicating the amount of gross procccds that the City expects to expend and disburse during the following timc periods: From No\'Cmber 9, 20U6 to :VIay 9. 2007 $ From May 10,2007 to November 9,2007 From J\ovember 10, 2007 to :vIay 9. 200S Total $ 12. (a) Will this issue qualify lor the Small Issuer Exception'? ·Yes No (b) List any general obligation bond financings thc City has undertaken or is planning to undertakc in tbe calendar year 2U06. 1 understand that the forcgoing infonnation will be relicd upon by the Virginia Public School Authority (thc "Authority") in dctermining the applicability of the constmction exception to the Authority's School Financing Bonds (1997 Resolution), Series 200G B I hereby ccrti(y that 1 am làmiliar with the Project or have made due inquiry in order to complete this Questionnaire with respect to the Projcct and am authorized by the City to provide the foregoing infom1ation with respect to it. which inlollnation is truc, correct. and complete, to the best of my knowledge. I Inelude amounts expended prior to J\ovember 9,2006 and approved by your bond counsel for reimbursement from your bond procœds. This does not include any amount used to refinancc or repay any loan. . iiY;~·I:,,:'l ~ 1; , , Sl:ptcmbcr .5, 2fJ({) D-G (1;'-::.:-«1,·:,1 1.: Kenneth L. Mundy. Jf. l\ame of Person Completing Questionnaire Director for Fiscal Services Title Signature Date 0-7 September 5, 2{)(() .. ... El'íD\'OTES I. For purposes of this qucstionnaire, "real propcrty" mcans improvements to land, such as buildings or othcr inherently pemlanent stmetures, including items that arc structural components of such buildings or stmctures. For examplc, real property includes wiring in a building, plumbing systems, central hcating or central air conditioning systems, pipes or ducts, c1cvators or escalators installed in a building, paved parking areas. road. wharves and docks. bridges and sewage lines. 2. For purposes of this questionnaire, tangiblc personal property means any tangible property except rcal property. For example, tangible personal property includes machinery that is not a strul'tural component of a building, school buses, automobiles, of'lìee equipment, testing equipment and furnishings. 3. See dcseription of real propcrty in endnote I. This includes all capital expenditures that are properly dlargeable to or may be capitalized as part of the basis of the rcal propcrty prior to the datc thc property is placed in service. For purposes of this questionnaire. expenditures are considered paid in connection with the construction, reconstruction or rchabilitation of n:al property if the contract bctween the Issuer and thc seller requires the seller to build or install the property (such as under a "turnkey contract") but only to the cxtent the prupel1y has not been built or installed at the time the parties enter into the contract. If the propel1y has been pm1ially built or installed at the time the parties enter into the colllrilel, lhe expenditures that arc allocable to the portion of the property built or installed belore that time arc expenditures for the acquisition of rcal property. 4. See endnote 3. 5. See cndnote 3. 6. For purposes of this questionnain;, expcnditures arc 111 eonnel,tion with the construction of IClngibk personal prupel1y, as uetined in endnote 2, if: (a) A substantial portion of the property or properties is completed morc than 6 months aaer the earlier of the date construction or rehabilitation commenced and the date the Issuer cntered into an acquisition contract; (b) Based on the reasonable expectations of the Issuer, if any, or representations of the person constructing the propel1y, with the exercise of due diligence, completion of eonstmction or rehabilitation (and delivery to the Issuer) could not have occurred within that 6-month period: and (c) If the Issuer itsclf builds or rehabilitates the property, not morc than 75% of the capitalizable cost is attributable to property acquired by the Issuer (e.g., components, raw materials and other supplies). ! il''- ·:":~-:.E"l· _, Scrrcmhrr 5. 200fl D-S , 7. Specially developed computer soliware means any programs or routines used to cause a computer to perform a desired task or set of tasks, and the documentation relJuired to describe and maintain those programs, provided that the so/ìware is specially developed and is functionally related and subordinate to real properly or other constructed personal properly. 8. Include amounts expended prior to November 9. 2006 and approved by your bond counsel for reimbursement from your bond proceeds. This docs not include any amount used to refinance or repay any loan. 9. Total should equal the amount in 4( 1). 10. Include amounts expended prior to November 9. 2006 and approved by yonr hond counsellor reimbursement from your bond proceeds. This docs not include any amount used to relinance or repay any loan. -: r:= :i:,; :.t,.; ·1·~ -1 : S¡;plcmbl'r 5. 2006 0-9 APPE:\'DIX E to the Bond Sale Agreement CO:"íTINLING DISCLOSURE AGREEMENT [This Conlinuing Disclosure Agreement will impose obligations on the Local Issuer if and only if the Local Issuer is or has become and remains a "Material Obligated Person", as detined below] This Continuing Disclosure Agreement (the "Disclosure Agrecment") is executed and delivered by the undersigned local issuer (the "Local Issuer") in conneclion with the issuance by the Virginia Public School Aulhority (the "Authority") of $ aggregate principal amount of its School Financing Bonds (1997 Resolution) Series 2006 B (the "Series 2006 B Bonds") pursuall! to the provisions of a bond resolution (the "1997 Resolution ") ado pled on October 23, 1997, as amended and restated. The Series 2006 B Bonds and all other parity bonds heretofore and hereafter issuL'lI under the 1997 Resolution arc collectively eallt'llthe "Bonds". A portion of the proceeds of the Series 2006 B Bonds are being uSL'lI by the Authority to purchase certain general obligation school bonds (" Local School Bonds") of the Local Issuer pursuant to a bond sale agreement between the Authorily and the Local Issuer (the "Bond Sale Agreement"). Pursuant 10 paragraph 3 of the Bond Sale A greenwnt , the Local Issuer hereby covenants and agrees as follows: SECTION 1. Pumose of the Disclosure Al!reement. This Disclosure Agreement is being executed and delivered hy the Local Issuer ftlr the benefit of lhe holders of lhe Series 2006 B Bonds and in order to assist lhe Participating Underwriters (dctined below) in complying with the Rule (detined below). The Local Issuer acknowledges that it is undertaking primary responsibility for any reports, notices or disclosures that may be required under this Agreement. SECTION 2. !;1etinitions. In addition to the delinitions set forth in the 1997 Resolution, which apply 10 any capitalized term used in this Disclosure Agreement unless otherwise defined in this Section, the t()lIowing capitalized terms shall have the following meanings: "Annual Report" shall mean any Annual Report provided by the Local Issuer pursuant 10, and as described in, Sections 3 and 4 of this Disclosure Agreement. "bond sale agreement" shall mean the Bond Sale Agreement and any other comparable wrillen commitmell! of the Local Issuer to sell local school bonds to the Authority. "Dissemination Agent" shall mean the Local Issucr, acting in its capacity as Dissemination Agem hereunder. or any successor Dissemination Agent designated in writing by such Local Issuer and which has tiled with such Local Issuer a written acceptance of such designation. "Filing Date" shall have the meaning given to such term in Section 3(a) hereof. "Fiscal Year" shall mean the twelve-momh period at the end of which tinancia1 position : :f(t"lX(.-l-4:'i_l, 077:O::2(,-(IUI)5.:'-() I : F-I and n:sults of operations are determined. Currently, the Local Issucr's Fiscal Year begins July 1 and continues through June 30 of the next calendar year. "holder" shall mean, for purposes of this Disclosure Agreement, any person who is a record owner or beneficial owner of a Series 2006 B Bond. "Listed Events" shall mean any of the events listed in subsection 5(b)(5)(i)(C) of the Rule. "local school honds" shall mean any of the Local School Bonds and any other bonds of thc Locallssucr pkdgcd as sccurity for Bonds issued under the Authority's 1997 Resolution. "Material Obligated Person" (or "MOP") shall mean the Local Issuer if it has local school bonds outstanding in an aggregate principal amount that exceeds 10% of the aggregate principal amount of all outstanding Bonds of the Authority. "National Repository" shall mean any Nationally Recognized Municipal Securities Intormation Repository tor purposes of the Rule. "Participating Underwriter" shall mean any of the original underwriters of the Authority's Series 2006 B Bonds required to comply with the Rule in connection with the otfcring of such Bonds. "Repository" shall mean each National Repository and each State Repository. "Rule" shall mean Rule 15e2-12 adopted by the Securities and Exchange Commission under the Sewrities Exchange Act of 1934, as the same may be amended trom time to time. "State Repository" shall mean any public or private depository or entity designated by the State as a state depository for the purpose of the Rule. As of the date of this Agreement, there is no State Repository. SECTION 3. Provision of Annual Reports. (a) The Local Issuer shall, or shall cause the Dissemination Agent to, provide to each Repository an Annual Report which is consistent with the requin:ments or Section 4 of this Disclosure Agreement. Such Annual Report shall be tiled on a date (the "Filing Date") that is not later than 12 months arter the end of any Fiscal Year (commencing with its Fiscal Year ended June 30, 2006) as of the end of which such Local Issuer was a MOP, unless as of the Filing Date the Local Issuer is no longer a MOP.] Not later than ten (10) days prior to the Filing Date, the Local Issuer shall provide the Annual Report to lhe Dissemination Agent (if applicable) 'The Authority will covenant in the Bond Sale Agreement to advise the Local Issuer wilhin 60 days of the end of each Fiscal Year if such Local Issuer was a Material Obligated Person as of the end of such fiscal Year. Upon written request, the Authority will also advise the Local Issuer as to its status as a MOP as or any other date. : .,(\lX()-l-":'S-!. /.I77~Z('-lIUlJ55·nl f I' , -~ and shall provide copies to the Authority. In each case. the Annual Report (i) may be submitted as a single document or as separate documents comprising a package, (ii) may cross-reference other information as provided in Section 4 of tbis Disclosure Agreement and (iii) shall include the Local Issuer's audited linancial statements prepared in accordance with applicable State law or, if audited financial statements are not avaiJable, such unaudited tinancial statements as may be required by the Rule. In any event. audited tinancial statements of such Local Issuer must be submitted, if and when available, together with or separately from the Annual Report. (b) If the Local Issuer is unable to provide an Annual Report to the Repositories by the date required in subsection (a), the Local Issuer shall send a notice to the Municipal Securities Rulemaking Board and any State Repository in substantially the form attached hereto as Exhibit A. SECTION 4. Content of Annual Reports. Except as otherwise agreed. any Annual Report re4uired to be tiled hereunder shall contain or incorporate by reference, at a minimum. annuallinancial information relating to the Local Issuer, including operating data, (i) updating such information relating to the Local Issuer as shall have been includcd or cross-referenced in the linal Official Statement of the Authority dcscribing the Authority's Series 2006 B Bonds or (ii) if there is no such information described in clause (i), updating such information relating to the Local Issuer as shall have been included or cross-referenced in any comparable disclosure document of the Loeal Issuer relating to its tax-supported obligations or (iii) if there is no such information described in clause (i) or (ii) ahove, initially setting forth and then updating the information referred to in Exhibit B as it relates to the Local Issuer. all with a view toward assisting Participating Underwriters in complying with the Rule. Any or all of such int()rmation may be incorporated by reference from othcr documents, including official statements of securities issues with respect to which the Local Issuer is an "ohligated person" (within the meaning of the Rule), which have been filed with each of the Repositories or the Securities and Exchange Commission. If the document incorporated by reference is a linal ofticial statement, it must be available from the Municipal Securities Rulernaking Board. The Local Issuer shall clearly identify each such other document so incorporated by ætáence. SECTION 5. Reporting of Listed Events. Whenever the Local Issuer is a Material Obligated Person re4uired to liIe Annual Reports pursuant to Section 3(a) hereof and obtains knowledge of the occurrence of a Listcd Event, and if such Local Issuer has determined that knowledge of the occurrence of a ListL'Ù Event with respect to its local school bonds would be material, such Local Issuer shall promptly lile a no/ice of such occurrence with each National Repository or the Municipal Securities Rulemaking Board and each State Repository, if any, with a copy to the Authority. : ;-f)l}~ú..-J.5-1, (IT'::\2(-(I()(J55-111 : 1'-3 SECTION 6. Alternative Filing. The Local Issuer may, in lieu of tiling with the Repositories and each State Repository the Annual Reports and other notices referred to in Se¡;tions 3(a), 3(b) and 5 hereof, make such filings with DisclosureUSA, the central post oftice of the Municipal Advisory Council of Texas. SECTION 7. Termination of Reporting Ohlication. The Local Issuer's obligations under this Disdosure Agreement shall terminate upon the earlier to occur of the legal defeasance or tina1 retiremeIll of all the Local School Bonds. SECTION 8. Dissemination Agent. The Local Issuer may, from time to time. appoint or engage a Dissemination Agent to assist it in carrying out its obligations under this Disclosure Agreement and may discharge any such Agent, with or without appointing a successor Dissemination Agent. The Local Issuer shall advise the Authority of any such appointment or dis¡;harge. ]1' at any time there is not any other designated Dissemination Agent, the Local Issuer shall be the Dissemination Agent. SECTION 9. Amendment. Notwithstanding any other proVISion of this Disclosure Agreement, the Local Issuer may amend this Disclosure Agreement, if such amendment has been approved in writing by the Authority and is supported by an opinion of independent counsel, ac<:eptable to the Authority, with expertise in federal securities laws. to the effect that such amendm¡;Ill is permitted or required by the Rule. SECTION 10. Additional Information. Nothing in this Disclosure Agreement shall be deemed to pn:,vent the Local Issuer from disseminating any other information, using the means of dissemination set forth in this Disclosure Agreement or any other means of communication, or including any other inti)rmation in any Annual Report or notice of occurrence of a Listed Event, in addition to that which is required by this Disclosure Agreement. If the Local Issuer chooses to include any information in any Annual Report or notice of occurrence of a Listed Event, in addition to that which is specifically requirt.'<i by this Disclosure Agreement, such Local Issuer shall have no obligation under this Agreement to update such intimnation or include it in any future Annual Report or notice of o¡;currence of a Listed Event. SECTIO:-'¡ 11. Default. Any person referred to in Section 12 (other than the Local Issuer) may take such action as may be necessary and appropriate, including seeking mandate or specilìc performance by court order, to cause the Local Issuer to tile its Annual Report or to givc notice of a Listed Event. The Authority may, and the holders of not less than a majority in aggregate principal amoulll of Bonds outstanding may, take such actions as may be necessary and appropriate, including seeking mandate or speciticperformance by court order, to challenge the adequa¡;y of any information providL'<i pursuant to this Disclosure Agreement, or to enforce any other obligation of the Local Issuer hereunder. A default under this Disclosure Agreement shall nO[ be deemed an event of default under the applicable resolution or bonds of the Local Issuer, and the sole remedy under this Disclosure Agreement in the event of any failure of the Local Issuer to comply herewith shall be an action to compel pertormanee. Nothing in this provision shall be deemed to restrict the rights or remedies of any holder pursuant to the Securities Exchange Act of 1934, the rules and œgulations promulgated thereunder, or other applicable laws. l ¡'OI~(I"''':5-!. Ui7~2{)-(){)(155-U I : F-4 SECTION 12. Beneticiaries. This Disclosure Agreement shall inure solely to the benetit or the Authority, the Local Issuer, the Participating Underwriters, and holders trom time to time or the Authority's Bonds, and shall create no rights in any other person or entity. SECTION 13. Counterparts. This Disclosure Agreement may be executed in several counterparts, each of which shall be an original and all of which shall constitute but one and the same instrument. Date: November 9, 2006 CITY OF ROANOKE. VIRGINIA By Darlene L. Burcham City Manager . .:,lU(~(I":"¡5·1 . (J77!:12ó-UfJU:".:'i-Il] ; F-5 EXHIBIT A NOTICE OF FAILURE TO FILE ANNUAL REPORT [AUDITED FINANCIAL STATEMENTS] Re: VIRGINIA PUBLIC SCHOOL AUTHORITY SCHOOL FINANCING BONDS (1997 Resolution) SERIES 2006 B CllSIP Numbers: Dawd: November 1. 2006 Name of Local Issuer: City of Roanoke, Virginia NOTICE IS HEREBY GIVEN that the [Local Issuer] has not provided an Annual Report as required by Section 3(a) of the Continuing Disclosure Agreement, which was entered il1lo in connection with the above-named bonds issued pursuant to that certain Series Resolution adopted on [Seplember 6, 2006J, by lhe Board of Commissioners of lhe Virginia Public School Authority, the proceeds of which were used to purchase S [School Bonds J of the [Local 1ssuerJ. [The Local Issuer antieipales (hat the Annual Report will be filed by .J The Local Issuer is a material "ohligated person" within the meaning of Rule 15c2-12 under the Securities Exchange Act of 1934, as amended, with respect (0 the ahove- named honds of the Authority. Dated: [LOCAL ISSUER] By l:;:(JI)XC1......S·[, 077:,\~l)-UUU55-0 II f-6 EXHIBIT B CO:\'TENT OF ANNUAL REPORT Description 01' the Local Issuer. A description of the Local Issuer including a summary of its form of government, budgetary processes and its management and officers. Debt. A description of the terms of the Local Issuer's outstanding tax-supported and other debt including a historical summary of outstanding tax-supported debt; a summary of authorized but unissued tax-suppofled (!.ebt; a summary of legal debt margin; a summary of overlapping deht; and a summary of annual debt service on outstanding tax-supported debt as of the end of [he preceding tiscal year. The Annual Report should also include (to the extent not shown in the latest audited tinancial statements) a description of contingent obligations as well as pension plans administered by the Local Issuer and any unfunded pension liabilities. Financial Data. rinanc:al information respecting the Local Issuer including a description of revenues and expenditures for its major funds and a summary of its tax policy, structure and collections as of the end of the preceding fiscal year. Capital Improvement Plan. A summary of the Local Issuer's capital improvement plan. Demographic. Economic and Supplemental Information. ^ summary of the Local Issuer's demographic and economic characteristics such as population. income. employment, and puhlic school enrollment and infrastructure data as of the end of the preceding fiscal year. The Annual Report should also include a description of material litigation pending against the Local Issuer. :#l)IJ~ú-1':'5-1. u77R2h-IU)1l55·(¡ If C' " r-( PROCEEDS AGREEl\IE:"IT Respeding the Custody. Investment, and Disbursement of Proceeds of Local School Bonds Purchased by the Virginia Public School Authority with the Proceeds of Its S[2006 Il PAR AMOUNT] School Financing Bonds (1997 Resolution) Series 2006 B Dated November 9,2006 Among Virginia Puhlie School Authority Waehovia Bank, N.A. PF:\I Asset Management LLC and 12006 ß Loeal Issuersl Sidley Draft ..\lI~USt 28. 200() Tanle of Contents Page Section 1. Reci tals. ..........................................................................................................................1 Section 2. Detinitions. .....................................................................................................................J Section J. Disposition ofVPSA Bond Pro<:ecds. ............................................................................9 Section 4. Establishmcnt of Accounts. ..........................................................................................10 Section 5. Disposition of Local School Roml Proeecds. ...............................................................11 Section 6. Investment of Principal Sunaccount. ............................................................................11 Section 7. Disnursements from Principal Sunaccount. .................................................................11 Section 8. Investment of Income Subaccount. ..............................................................................12 Section 9. Income Subaccount. ........................................................................................ .............12 Section 10. Investment [.osses. .....................................................................................................14 Section 11. Renate Computations..................................................................................................15 Section 12. Transfers to Int:ome Sunaccnunl. ...............................................................................16 Section D. Disposition of Exœss Proceeds. Yield Restriction and 'Yield Reduction Pavmcnts. ........................................................................................................................... f (i Section 14. Rebate Paymcnts and Pcnalty Payments. f'ield Rcduetion Payments. ......................18 Section 15. Duties ofVPSA. .........................................................................................................19 Section 16. Dutics of the Depository. ....................................................................... .....................20 Section 17. Duties of Local Units..................................................................................................20 Section 18. Responsinilitie> ufthe Investment '"tanager. .............................................................21 Section 19. Costs. .. ..................................... ...... ........................................ ... ..... .............................21 Section 20. Opinions of Counsel. ........................ ... ........ ...............................................................22 Section 21. Amend mcnl. .............................................................................................................. .22 Section 22. 1\ utiees. ...................................................................................................................... .23 -n- \,y I 575J~,·15,..-1 Section 23. No Third Party ßenelÌciaries. .....................................................................................24 Section 24. Scvcrahi lity. ............................................................................................................. ...24 Section 25. "0 Personal Liability................................................................................................. .24 Scctioll 2(,. Appl icable La IV. ........................................................................................................ .25 Section 27. Counterparts. ............................................................................................................. .25 Sectioll 211. Effective Dale; Term. ............................................................................................... S-1 -lll- :--J....l ~::'I,.,·h·A PROCEEns AGIŒE\IENT Respecting the Custody, Investment, and Disbursement of Proceeds of Locll1 School Bonds Purchased by the Virginia I>ublic School Authorit)' with the Proceeds of Its $12006 B PAR AI\IOUNT School Financing Bonds (1997 Resolution) Series 2006 B This PROCEEDS AGREEME!'iT, dated :\ovember 9, 2006 (this nAgreemenC), is among the Virginia Public School Authorit)·. a public hody corporate and instrumentality of thc Commonwcalth of Virginia (nVPSAn), the L) counties and u cities that are signatories to this Agreement (collectively. the nLocal l;nitsn, and cach a '"Local Unitn), Waehovia Bank, !'i.A., a banking institution organized under the laws or the Lniled States of America and having an omce in Richmond, Virginia, and PFì\I Asset Management LLC, a corporation organized under the laws or Delaware and having an ollice in Ilarrisburg. Pcnnsylvania. All capitalized terms used herein shall have the meaning given to thcm in Section 2 hereoC The parties hereto agree and covenant as (,)lIows: Section 1. Recitals. A. On or bct,)re October II. 2006. VPSA and each llr the l.ocal Units entered into a I3v'nd Sale Agrcement. pursuant to which VPSA agreed to purchase. and the Local Unit agreed to sell its Local School Bonds. R. On Octllber 11. 2(()(¡. VPSA' s Bonds were awarded at competitive bidding to the Purchaser. Thc Purchaser is obligatl'd by the terms or its hid tll pay the purchase price ()r the VPSA's Bonds on the Closing Dale. VI'SA will apply certain or the proceeds of the sale of VPSA's 8<'nds to the purchase of thc Local School Bonds on Novembcr 9. 2()()6, tht: Local Schov,l Bonds (,l('lsing Date. VI'SA will also apply certain ofthc pwcceds or [he sale of VPSA 's :-"YI S7.'J!'I.'v.-l Blll1lls. together with other available tunds. to pay aœrued interest on and ccrtain wsts of issuance of the VPSA Bonds. C'. The Code imposes requirements on VPSA and the Local Units selling their Local School Bonds to VI'SA that must be met il" interest on VPSA's Bonds and intcrest on the Local School Bonds arc to be excludable tÌ"om gross income tix federal inwme tax purposes, including a requirement that in certain circumstances, certain investment income with respect to the Local School Bonds, which inCllme is deemed ti,r federal income tax purposes to be investment inellme of VPSA' s Bonds, be subject to payment, or in lieu thereof œrtain payments be made. to the United States Treasury. D. VPSA has dctcrmincd that in order to IÌJltìll its representations respecting the maintenance 01" the exclusion of the interest on VPSA's Bonds trom gross income for ti:deral inellme tax purposes. VI'SA must establish a mechanism to provide aeenuntability t()r the custody, investment and disbursl'ment of the proel'eds of VPSA's Bonds and the proceeds 01" the Local Scllllol Bonds. E. [t is the purpose 01" this Agreement tll enable VPSA (i) to tulfill the representations mentillned in the preceding subsection: (ii) subject to the constraints llf the Code aflècting the investmcnt of the proceeds of tax-exempt obligations. to achieve the optimum, practicable income by the professional management of the investment and reinvestment 01" thc procceds llf the Local Schlllll Bonds; (iii) to provide ror the custody. investment and disbursemcnt 01" the pmcceds of thc Local Sc1l($11 Bonds. and tllr thc maintenance 01" appropriate records tlwreof: (iv) tll meet the rebate requirement imposl'd by Section 148( t) of the Code, in part through the paY111ent of either the Local Unit Rebate Requirement by each of the L(lcal Units or the Penalty iflhe Penalty Election has been made on behalf of a Local Unit: and (v) III provide -2- $"1 ~"'5]"'15\A tix the allocation and payment of the costs ~Iss"ciated with the estahlishment and maintenance of this Agreement. F. The purposes set lorth in the preccding subsection E shall be accomplished through S:-.JAP. The proceeds of the Local School Bonds shall be invested in aeeordanee with the Information Statement. Any statements of faels contained in these recitals pertaining to the sall: of the VPSA's l30nds and the application of such proceeds. other than the purchase of the Local School Bonds, will not be deemed to be made by the Local Units except to the extent they have knowll:dge of such l~lets. Section 2. Definitions. In addition to the words and terms elsewhere detined in this Proceeds Agreement ineluding the Exhibits attached hereto. the following words and tenlls shall have the tllllowing qlèanlngs: "'Aggregate Local L:nits Rebate Requirement"" shall be the amount calculated pursuant to the Letter Agreement. "Agreement"' or "Proceeds Agreement" shall ml'an the Pwceeds AgrCl'ment. dated :\ovcmber 9. 2006, among the Authnrity. the Local ¡;nits, the Depository and the Investment Manager. "AutllLlrized Representative" shall mean. as applied to VPSA, the Depository, the Investment Manager and the Llleal Lnits. the person l)r each of the persons thereby designated, 1rom time to time, in aeeordancc with allll as listed on the page llf this Agreement executed by such party. "Availabll: Construction Proceeds" shall mean, as applied (0 each Local Unit, the sum of (i) the amount initially deposited to the Principal AeCllunt of such Local Unit pursuant to -3- 'lYl :'7;1('·1.5\",·1 Section 5 hereo!: and (ii) the investment eamings thereon. reduced hy thc amount of issuanec costs Iinanccd hy such Local Unit's Local School Bonds. In the event that the Local Unit has made the Bifurcation Elcction on its signature page, "Availahle Construction Proeecds" shall mean the sum of thc amount set forth on the signature page as the pOltion of the issue uscd I(')r construction and till' investment earnings thercon. reduced hy the amount set t(mh on the signature page as al kleablc to issuance expenscs. "Bifurcation Election", with respect to each issue of Local School l3onds, shall mean the election made by the Local Unit to treat a portion of its Local School Bonds used t(')r CllnstrUl.:tion as a separate issue pursuant to Section 14x(I)(4)(C)(v) of the Codc. "Bond Sale Agreements" shall refer to thc respective Bond Sale Agreements, dated as of September 27,2006, bctween VPSA and each Local Issuer. "Capital Expenditure" shall 111l'an any cost of a type that is properly chargeable to a capital account (or would be so chargeable with a proper election) undcr general federal ineomc tax principles as determined at the time the expenditure is paid with respect to the property. "CapitaIProjeet"' shall mean all Capital Expenditures. plus related working capital expenditun:s to which the de minimis exception provided by Section 1.14R-(i(d)(~ )(ii)(¡\) of the Treasury Regulations to the proœeds-spent-last rule applies. that carry out the govcrnmental purpose of the I.oeal Sehooll3ond issuc. "Ck1sing Date"· shall mean, with respect to the VPSA Bllnds. the date of delivery by VPSA of such Bonds to the Purehasl'r. Thc Closing Date is scheduled to he November 9. 2006. "Codc" shall mean the Internal Rcvenue Code of 19X6, as amended. -4- \;Y1 :'''':']1,·15\.'\ "Computation Datc" shallmcan eaeh of the Installment Computation Dates. Local l.:nit Computation Date. and the Final Computation Datc. "ContracC shall mean the Contract rcspecting thc Virginia Statc Non-Arbitrage Program, between the Treasury ßoard of the Commonwcalth of Virginia and the Investment Manager. including the Depository Agrl'enwnt appcaring as Appcndix A thereto. "Depository" shall mean Wachovia Bank. :\.A.. a banking institution organized under thc laws of the United States of America and having an oftice in Richmond. Virginia and its future successors and assigns undcr thl' Depository Agrccment. "Depository Agreeml'nt" shall mean thc Depository Ab'Teement appearing as Exhibit A to thc Contract. "Eightcen-Month Exception" shall mcan thc cxception to the Rebate Rcquirement provided hy Treasury Regulation Section 1.148-7( d). "Final Computation Date" shall mean the date the last hond that is part of the issuc ofVPSA"s Bonds is discharged. "Gross Procl'cds" shall havc thc mcamng glVl'n to suc,h term m the Letter Agrel'ment. "Income SuhaccounC shall mean the Income Subaccount established pursuant to Section -'I of this Procecds Agrccment tl)r each Local Unit. "Income Suhaccount Sct Asidc" shall ha\'c thc meaning given to such tenn by Section l)(h) of this Agrccment. "Individual Portll\lio" shall have thc meaning gl\'cu to such tcnn m the IntlHlnation Statcment. "Information StatcmcnC shall mean the current Int(mnation Statcment describing Sr\AP. as the same may he sUlpkmcutcù and amcl1lleù. -5- NYI ~;~lh·I:'\.·1 "Installment Computation Dates" shall mean November <), 2011. and each titìh (5th) anniversary date thereatìer. "Investment Manager" shall mean the investment manager of S:\AP and its successors and assigns. on the Closing Oak being PF\tl Asset Managl'lllCnt LLC, a corporation organized under the laws of Delaware and having an offiee in Harrisburg, Pennsylvania. "Investment Report" shall have the meaning given to such tenu in Part A of the I.etter Agrl'Cment. "Letter Agreement" shall mean the Letter Agreement. dated the date hereof: attached to this Agreement as Exhibit C. "Local School Bonds" shall mean general obligation school bonds of a Local Unit having the tellus and provisinns required by the Bond Sale Agreement. "Loeal School Bonds Closing Date" shall mean the Closing Date, except as tltherwise provided on the page or this Agreement executed by a Local Unit: provided. however, the Local School Bonds Closing Date with respect to an issue of Local School Bonds shalluot be deemed to have occurred until the related Local Unit shall have delivered the Local School Bonds ttl VPSA and otherwise complied with the tellus of its Bond Sale Agreement. "I,oeal Unit" or "Local ['nits'" shall have Ihe meaning accorded to such term hy the tìrst paragraph of this Agreement. "Local L:nit Computatitll1 Date" shall mean the date seleeted hy a Local Unit as the date as of which the Rebate Requirement with respect to its issue of Local School Btlnds shall he ctlmputed. Such date shall not be earlier than the date on which sueh Local Unit anticipates that all of the proceeds or such issue of Local School Bonds. including any amounts set aside in the Income Suhaccount telr the payment of the Rebate Requirement" shall be expended. -6- :-. Y1 57~ J H.~\ .·1 "Local Unit Rebate Computation", with respect to each issue of Local School Bonds, shall mean a Rebate Computation for each Local Unit made on each Computation Date pursuant to Section 11 of this Proceeds Agreement. "Loea1 Unit's Rebate Requirement", with respect to each issue of Local School Bonds, shall mean the amount payable to the L:nited States Treasury calculated pursuant to the Leiter Agreement. "Penalty" shall mean the amount that must be paid to the United States Treasury pursuant to the Penalty Election. "Penalty Election". with respect to each issue of Local School Bonds, shall mean the election made bv the Lneal Unit to pay a penalty in lieu of rebate pursuant to Section 148(t)(4)(C)(vii) of the Code. "Principal Subaccount"" shall mean the Principal Subaccount established pursuant to Secticln 4 of this Proceeds Agreement for caeh Lncal Unit. "Proceeds Account" shall mean, with respect to each Local Unit. its account established undcr Section 4 of this Procceds Agreement. "Purchaser" shall mean [2006 B PURCHASER], the biddl'f offering to pay the lowest true intcrest cost orthc VPSA's ßnnds and to which VPSA awarded the VPSA's Bonds at a competitive sale. "Rebate Calculation Agent"" shall have the mcaning given to such term in the Leiter Agreemcnt. "Rebate Computation" shall mean the computation, as of a Computation Date, of the Local Unit Rebatc Requireml'nt to such Computation Date. The amount so computed may be a positive or a negative number. -7- NY] 575]1>45\".,1 "Rebate Exceptions" shall mean the Spending Exœptions and the Small-Issuer Exception, collectively. "Rebate Report" shall mean the Local Unit Rebate Computations. "Rebate Requirement"' shall mean the rebate requirement imposed by Sections 148(1)(2) and (3) of the Code. , ' "Six-Month Exception" shall mean the exception to the Rebate Requirement provided by SCl:tion 14S(f)(4)(B) of the Code. "Small-Issuer Exception" shall mean the exception to the Rebate Requirement provided by Section 14S(f)(4)(0) of the Code. "SNAP" shall mean the State Non-Arbitrage Program established pursuant to Article 7.1, Chapter 14, Title 2.1, Code of Virginia. as amended. "SNAP Documents" shall mean the Information Statement and the Contract. "Spending Exceptions" shall mean Ihe Six-Month Exception. the Eighteen-Month Exception and the Two- Year Exception, collectively. "Tax Exempt Bond" shall mcan a blInd the interest on which is excludable hom gmss income undcr Section 103(a) of the Code and is not a speei1ìed private activity bonds as defined in Section 57(a)(5)(C) of the Code. "Two-,\'ear Exception" shall mean the exception to the Rebate Requirement provided by Section 148(f)(4)(C) of the Code. "VPSA" shall mean the Virginia Public School Authority, a public body corporate and instrumentality of the Commonwealth of Virginia. "VPSA . s Bond Yield" shall mean lhe Y icld on VPSA' s Bonds as set tllrth in the Letter Agreement. As provided in Treasury Regulation Section 1.1 48-4(a), the yield on each -S- NY] 57~lM5\·.4 issue of Local School Bonds of a Local Lnit thc interest on which is excluded Üom gross income shall cqual the VPSA's Bond Yield. "VI'SA's Bonds" shall mean the SI2006 B PAR AMOUì\Tl aggregate principal amount of VI' SA 's School Financing Bonds (1997 Resolution) Scries 2006 B. "Withdrawal Date" shall mean the date as of which an interim Rebate Calculation is made pursuant to Section 9 of this pflleeeds Agreement. "\'icld" shall have the meaning accorded to such term by the l.ctter Agreement. "Yield Reduction Payment'" shall have the same meaning given to such term by Section 13 of this Proceeds A¡">Teement. "Yield Restriction RequiremenC shall have the same meaning given to such tenn by Sectil\ll 13 of the Proceeds Agreement. Seetion J. I)isposition of VPSA Bond Proel'l'ds. A. Prior to the Closing Datc. 'eaeh l.oea1 Unit will eomplcte and submit, tll the Investment Manager. the program registration timn and the SNAP account registration timn annexed to the 1nti111nation Statement. B. On the Closing Date. VI'SA will transfer to the Deposihlry lilr deposit in SNAP. in inllnediately available funds. an amount et¡ual to the aggrl'gall' purchase price of all of the l.ocal Sehool13onds (51200613 PURCIIASE PRICE]), C'. Each Local Unit hereby agrecs to adhere strictly to the prescribed and reeonllnemled procedures described in the 1nlimnation Statement. Each l.oeal Unit hereby further agrees that it will not deviatc from or requcst an exccption to such procedures without lirst (,btaining the prior writtcn approval of VI'SA. In thc C\'l'nt of a eonllict betwecn thc pfllvisil\llS of this Agrecment and the Inlimllation Statemcnt. thc provisions of this Agreement shall control. -9- I\\ï .~·.'5 ]!,-1.~\..-1 Section 4. ~~stablishmcnt of Accounts. (a) Except as providcd in Scction 4(b) below. the Investment \1anager will establish on its bOllks fÒr .::ach Lo.::al Unit one (I) ael:ount and two (2) subaecounts therein as Illlltl\l's: VPSA-(~ame of Local Lnit} Proceeds Account -- Series 200613 Issue Principal Subael:ount Ineoml: Subaccount (b) The Investment Manager shall establish on its books tor each of [2006 B SUBSID'{ & NON-SUBSIDY ISSUERS] within thc onc (1) Proeœds Account te)r each such Local Unit. two (2) subaecounts therein, and two (2) subaeeounts within each subaccount as [l)1l0WS: VPSA-('Jame of Local L:nit) Proceeds Aeeount- Series 2006 B Issul: Non Suhsidy Suhaceount Principal SuhaC(:ounl 1neomc Subacl:ount Suhsidy Subaccount Principal Subaccount Income Subac<:ount The amOUllls in the Principal Subaecounts and Income Subaccounts of .::aeh of thl'se Local Units shall be comhined Illr purposes llfthis Agreement. Rl:quisitions from [2006 ß SU13SIDY & \:O\:-SUASIDY ISSUERS] shall specify the Subaccount trom which moneys are heing rcquisitioned. If a Local Unit has elected t(l treat a portion llf its Local Sl:hool 130nds issue used tllr construction as a separate issu.:: as set lorth on its signature page, the Investment Manager shall maintain such r.::cords as neccssary to dct'::lllline the portion of th.:: Principal Subael:ount and Inl:ome Subaccount of such Local Unit allol:able to the construction issue and the non- elHlstruction iSSUl'. - ¡ 0- 1\\"1 )7'lh"¡~·,..\ Scction 5. Disposition of Local School Bond Procccds. A. The Inv<:stm<:nt Manag<:r shall allocate the proceeds of the Local School Bonds on the Local School Bonds Closing Date(s) to the Local Unit(s). dollar t(H dollar. in ae<:ordanee with the respective purchase prin's of their Lo<:al SdlOOI Bllnds sd ìorth in Exhibit A to this Agreement. There is no aeerucd int<:rest on the Lo<:al S<:hool Bonds. Ex<:<:pt as provided in Sedion 5(13) -- ( ) helow. the proeœds of VI'SA's Bonds allocated to each Local Unit shall be credited tll the I'rin<:ipal Subae<:ount of the I.ll<:al Unit in th<: amounts s<:t t(lrth in Exhibit A with respect to the Subsidy Local School ßonds andíor the Non-Subsidy Lo<:al School Bonds. as th<: case may be. B. [INSERT INFORMATION CO:\CERNING ~006 B LOCAL ISSUERS REDEEMI"iG INTERIM FI1\ANCINGS I. Section 6. Invcstmcnt of Principal Subaccount. The Investment Manager shall invest and r<:inv<:st nlllneys to th<: credit of the Prin<:ipal Suha<:eollnt of each I.l1<:al Unit t(lr th<: b<:nctit of sll<:h Local Unit in accordance with the provisions of the Inl(lrmation Stat<:ment and S<:dion ll' of this Agreem<:nt. Th<: Investment Manager shall <:redit to th<: Local Unit's Inc.ome Sllba<:wllnt all inwme and proìits ti'om the in\'l'stmcnt and reinvestm<:nt of moneys to the credit of its r<:sp<:dive Prin<:ipaI Suhaeeollnl. Section 7. Dishurscmcnts fl'om Principal Suhaccount. ßeginning on its Local School Bonds Closing Date, ea<:h Lo<:al Unit may at any time withdraw all or any portion of the pro<:œds of its I.oeal School ßonds credited to its Principal Subaewunt (induding amounts translèrr<:d to the <:redit of the I'rin<:ipal Suhaeeount li'llm the hletlm<: Suha<:eount pursuant to Se<:tion <)), in ac<:ordance with th<: Inì(mnation Stat<:1Tl<:nt and. in the <:ase of a reimhursem<:111 10 lhe Lo<:al Unit. hy filing with the: [nve:stment \'tanager a requisition or requisitions therel()r in th<: ì(mn of Exhibit B to this Agreement sign<:d -11- 'lYl ~-Sl',":~\ ~ by an Authorized Representative of the Local Lnit. Notwithstanding anything to the contrary in thl' Infonnation Statcment. the Investmcnt Manager agrces that. in the case of a reimburscment to thc l.oca1 L1nit. it shall not disburse any money rrom the Principal Subaccount unlcss and until it has received such requisition ti'om thc Lneal L1nit. Scction 8. Invcstmcnt of Incomc Subaccount. The Investmcnt V1anager shall invest and reinvest nlLlneys to the credit nf the InèLlIllC Subaccount of each Local Unit Ji,l' the benefit of such Local L;nit in aecordancc with the provisions of the Intimnation Statement and Section 18 of this Agreement. The Investment Manager shall credit to the Local Unit's Income Subaccount all inèLlme and prolÌts from the investment and reinvestment of moneys to the credit thereof Scction 9. Incomc Subaccount. A. The Investment Manager willlll)tify a 1.0eal Unit and VPSA when the balancc to the credit of the Principal Subaccount of such Llleal L'nit shaH have bccn reducl'd tll zero ($0). Such Local Linit may then withdraw trnlll its Incomc Subaccount an amount llLlt in excess llf the amount then to the crcdit of its Income Subaccount if the Local Unit qualities ti)" anyone of the Rebate Exceptions or if such withdrawal is neecssary to quality ti,l' one of the Spending Exceptions, I. [n order to quality tix the Small-Issuer Exception, the Local Unit must deliver to VPSA and the Invcstmcnt Manager no later than the end nf calendar year 200ó (a) a letter 1Ì'<1Il1, or opinion o( nationally recognized bond counsel that the Local School Bonds of such Local Linit purchased by VPSA with the procecds of till' VPSA's ßllllds will be treated as meeting thc requirements of (\)de Sections 14X( 1)(2) and (3), pursuant to ('(Ide Sedion 148(t)(4)(O); and (b) (he Loeal Unit's eovenant that it shall provide lor the payment (lr reimburse VPSA li)r its payment llf the Local Unit" s Rebate Requirement -12- I\\ï 5-;:'1fA~\".·1 In the event that the Local School Bonds of such Local Unit t¡lil to meet all of the requirements (If the Small Issuer Exception. 2. In order to determine if a L(leal l:nit qualities ti.lr eithl'r the Six-Month Excepti(ln or the Eighteen-Month Exception, the Investment Manager shall advise each Local Unit and VPSA nf the am(lunt that has been disbursed tr(lm the Principal Subaccount and the Ineomt: Subaccount of such Local Unit (a) six (6) nlllnths from the Local Schnol Bnnds Clnsing Date. (h) twelve (12) months trom the Lneal Sdlll01 Bnnds Closing Date. and (c) eighteen (IS) months from the Local School Bonds Closing Date. To taeilitate such detellllination, each Local Unit shall set ti.lrth on the signaturl' page tor such I.oeal Unit the amount l,f investment proeccds that such Local Unit reasonably expects as of the Lneal School Bnnds Closing Date to eam. 3. [n order to determine if a Local Unit qualilìes Ii.,r the Two-l'ear Exccption. the hl\'estment :'vlanagcr shall advise each Loea[ Unit and VPSA. of the amount of Availahle Construction Proceeds that has hl'Cn disbursed from the Principal Sunaccount and the Inenme Sunaeeount of such L.oeal Unit (a) six (6) months from the Local Sehonl ßnnds Closing Date. (h) twelve (12) months fn)m the I.lleal School Ronds Closing Date, (c) eighteen (I X) months from the I.neal School Bonds Closing Date. and (d) twenty-t('ur (24) months from the I.oeal School ßonds Cl(lsing Date. To tacilitate such determination, each L.neal Unit ",hall ,;et torth on the signaturt: page ti.)r such Local Unit thc amount of invcstment prnceed,; that sueh L.neal Unit reasonably l'xpects as of the Local School Bonds Closing Dale to earn and the elections that it requests VPSA tnlllake on its nehal f. Furthellllnre. such Local Unit shall sct t,lrth in a eeltitÌ<:ate delivered to VPSA on the L.oeal School Bonds Closing Dale such t¡¡ets and eireulllstanœs as necessary to show that it reasllnahly expects to qualify lix the Two-Year Exception. -13- ~y] ':;?'i(."¡~\... 4. The portion of the proceeds of the VPSA Bonùs applied to purchase the llNSERT INELlGI13LE LOCAl. INTERIM FINANCINGSl do not qualify fÒr the Eighteen Month Exception or Two '{car Exccption. 13. Exccpt to the cxtent that a Penalty Election has neen made on neha1f of a Local Unit, ifthc Local L:nit t¡li1s to qualify for one of the Spending Exceptions. or is otherwise sunject to the Renate Requirement. then prior to a withdrawal from its Income Subaccount and upon receipt llf such notilication. the Local t:nit shall promptly fl:ljucst. pursuant to the terms of the Intollllation Statcment. an interim Rebate Computation lor the next Computation Date with respect to such Local Unit or an estimate of such Local Unit's Renate Requirement for purposes of detennining what amoun!. if any. to the credit of the Income Subaecount may ne sunjeet to rebate. Any estimate of the Local Unit's Renate Requiremcnt made by the Investment Manager shall also be pwvided to VPSA in writing. Notwithstanding anything to the contrary in the Intllnnation Statement. no disbursement will be made rrom the Income Subaccount until the atllrementioned calculation shall have bccn made. The amount to the credit of the Income Subaccount that may ne subject to' rebale is the Income Sunaecount Set Aside. On the Withdrawal Date. the 1n\'l'stment Manager shall (¡) reserve, in the Income Suhaceollnt. the amount of the --Income Suhaceount Set Aside" until the next Rehate Computation required ny Section 11 shall have heen made and (ii) credit the remaininl.!: ba1an", to the credit of the Income Subaccllunt to the credit of the Local Unit's Principal Suhaccount. Scction J O. Invcstmcnt Losscs. The Investml'nt Manager shall charge any loss realized rrom the investment or rcinvcstment of moneys to the crellit of the Income Subaccount and the Principal Suhaccount of a Local L nit as tlll knvs: -14- 'ly ~ .~7" 1 f,..I"'\'-I I. losses on moneys III the credit of the Plincipa1 Subaccount shall be charged therelo: and 2. losses on moneys to the credit of the Income Subaccount shall be charged tirst to the Principal Subaccount ami then to the Income Subaccount. Section 11. Rebate Computations. On or bctllre caeh Computation Date, VPSA will prepare. l'r cause to be prepared, in accordancc with the provisions of the Letter Agreement the Local Unit Rebate Computatilllls. The Loeal l;nit Rebate Computation tl'r each Local Unit shall be made on the basis of the Investment Reports maintained by the Investmelll \1anager t('r each Procceds Account. With rcspeet to thc amounts on deposit in the [2006 B TRANSFERRED PROCEEDS ACCOUNTSI. such amounts will only be taken into account for purposcs of the Local Unit Rebate Computations lor the respective Local Units only if the r2006 B INTERIM FINANCINGS WITII TRANSFERRED PROCEEDS] respectively. do not qualify t(lr one of the Spending Exceptions or tllil to meet all of the requirements of the Small Issuer Exception. As set tllrth in the Letter Agreement. the I.ocal Lnit Rebate Requirement shall be eakulated separately tllr each Local Unit. If it is determined. 11llwevcr. that the Local Unit Rebate Requirement is required to he calculated in the aggregate. the I.ocal Unit Rebate Requirement for each Local Unit shall be equal to a pen:entage of the Aggregate Local Units Rebate Requirement determined by multiplying the Aggregate Local Units Rebate Requirement hy a fraction. the numerator of which is the positive Local Unit Rebate Requircmcnt eakulatcd separately and the denominator of whidl is the sum of all of the pnsitive Local Unit Rebate Requirements calculated separately. I f any provision of this Agreement shall become inconsistent with any regulation or regulations prlllllulgated under Section 14S(t) of the Code subsequent to the date herell( -15- 1\1"1 S:-";Ih..."~·.-l. VPSA hereby agrees and covenants to prepare. or causc to be prepared. as soon as practicable. a Local Unit Rcbatc Computation for each Local Unit. in compliancc with such regulation or regulations. and VPSA. the Investment Manager and each of the Local Units hereby tùrther agree and covenant immediatdy to make any and all transfers and payments required by Sections 12 and 14 of this Agreement lì'om any moneys on deposit in the Income Subaccount and any other moneys orthe Local Unit legally available for such purpose. Section 12. Transfcrs to Incomc Subaccount. Upon reccipt by a I.oeal Unit or the Rebate Report from VPSA, if the amount on deposit in the Local Unit's Income Subaccount (including the Income Subaccount Set Aside) is less than the sum of the Local l:nit Rebate Requirement and 'rïcld Reduction Pa}1TIent of such Local Unit. the Investment Manager shall promptly charge the Principal Subaccount of such Local Unit an amount equal to the detìciency and credit its Income Subaccount such amount. To the extent that the amount on depl1sit in the Principal Subaccount IS insutlieient to remedy till: dcticiency, the Investment Manager shall advise VPSA and such Local Unit of the amount of the remaining dcticieney, and. to the extent pennilted by law, the l.oeal L'nit agrees to transfer promptly to the Depository, tÌ"om any funds that arc or may be made legally available tllr such purpose. the amount equal the remaining dcticiency, To the exknt that the amount on deposit in the Income Subaccount exceeds the slim of the Local Llnit Rebate Requirement and Yield Reduction Payment Il)r the Local Unit, sucb l'xcess shall be trunslerred to the Principal Subaccount llfthe Local Unit. St'ctioll 13. Disposition of Exccss I'mcct'ds, Yield Restriction and Yicld Rcduction Pa}'mcnts. A. When a Local Unit shall certify tll VPSA and thL' Investment \[¡lI1ager that then: are balances to the credit of the Local Unit's Principal Subaccount or Income Subaccount -16- 1\1'1 j·::-H'·I.~\".·1 that will not be used for Capital Projects, such amount shall be retained in the Proceeds Account and, to the extent such amount is not requircd to be deposited to the Income Subaccount pursuant to Section 12, VPSA will. except as provided in the last sentence (If this Section 13A, direct the Dcpository to apply such amount to redeem such Local Unit's Local School Bonds on the earliest possible date that such Bonds may he called without a pcnalty or premium. Notwithstanding the tlJregoing, when a Local L:nit shall eCrli fy to VPSA and the Investment Manager that it has made an election under Sel'lion 14R(t)(4)(C")(viii) or (ix) of the Code to tenllinate the Penalty Election. and that, pursuant to Code Section 14R(l)(4)(C)(viii)(1lI) of such tenllinatilln e1cetion, such Local Lnil indicatcs the amountl,f Availahle Constructilln Proceeds to be applied to the redemption of its Local SehOlll Bonds and the date of such redemption. VPSA will direct the Investmcnt Manager and the Depository to apply such amount toward the redemption of such Local Unit's Local Sehool13onds on the date indicated. B. If a Local Unit has any halanœ remaining in cither its Principal Subwxount or Income Subaccount on November 9. 2009. such amount shall not bc invested at a )'ield in excess of the VPSA's Bond Yield (the "Yield Restriction Requircment""), Except as pwvided in Section 13(' bell'w. any balances remaining on deposit in either the Principal Suhaceount or Income SuhaeclHmt of any Local l.lnit on November 9. 2009 will he invested hy the Investment Managcr in either an Individual Portfolio at a Yield not in cxcess of thc VPSA's Bond Yield or Tax- Exempt BLInds in order to comply with the Yield Rcstrietion RCluirenll'nt. C. If amounts on dcposit in thc Principal Suhaccount or Income Subaccount of a Local Unit qualil'ìed ()r the temporary periods set forth under Treasury Rcgulation Section 1.14X-2(e)(2) or Treasury Regulation Sectil'n 1.I4X-2(e)(6). such Local Unit may continue to invest such amounts in the SNAP Fund in aCL:ordance with the pnlVisions of the 1nf¡mnation Statement and may wmply with the Yield Restriction Rcquirement by making yield reduction -17- 1\\1.<;751(,-1-:'\".-I. payments pursuant to Treasury Regulation Scctilln 1.14~-5(e) (""'Yïeld Reduction Payments") to reducc the yield earned after November (). 100l) on any investments in either its Principal Subaccount or Income Subaccount. On or hcti,re l'aeh Computation Date, VPSA will prepare, or causc to he prepared. the 'Iïeld Rcduction Payment required to hc made with respect to elleh Local Unit in order to comply with the Yield Restriction Requirement on the basis of the Investment Reports maintained by the Investment Manager ti,r eaeh Procceds Account. Such 'Yïcld Reduction Payments must be mmk by the Local Unit at the same time and in the same manner as the Rebate Requirement is required tll be paid. Section 14. Rehate Payments and PenalQ' Payments, Yield Reduction Payments. A. The Lllea] Unit R<:bate Requirement and Yield Rcduetion Paym<:nt of ea<:h Locall;nit shall be paid to the United States Treasury at the direction ofVPSA on hehalfofand ti,r the accounts of the Local Unit and VPSA in accordance with the Letter Agreement B. The payment of the I.oeal Unit Rebate Requirement of each Local Unit shall be in partial satisfaction with respect to thc VPSA's Bllnds, and total satisllldion with respect to the pn,'eccds of the Local SdlOOI Bonds on deposit in the Procecds Account, of thc rcquirements of S<:ctillll 14S(t) of the Code exe<:pt to the exknt that such issue of Local School Bonds may be trl'ated as a composite issue under Treasury Regulation * 1,150-1 (e) with another issue of obligations, (', Notwithstanding anything to the contrary herein, if VPSA has made the Penalty Election Ill! behal f of a Loeal Unit and if such I.oeal Cnit fails to qualify t<-'T one of the Spending Exceptions, thcn. prior to any furthl'r disbursements tÌ'lllll the Prineipll] Subllccount nr Income Subaccount the Local Unit shall pn>mptly request, pursuant to the terms of the Intonnation Statement a computatioll of the amoullt nf the Penalty that must be paid to the Lniled Statl'S Treasury pursuant tll the Penalty Election. -I x- \I'd 57511'-1--\\4 If the amount on deposit in the Local Unit's Income Subaœount and Principal Subaccount is less than the amount of the Pcnalty due by such Local Unit, the Investment Manager shall advise VPSA and such Local Unit l>f the amount of the dcticicncy, and to the extent pcnnitted by law. the Local Unit agrees t() transfá promptly to the Deposihlry, t£"0111 any funds that are or may be made legally available fi.>r such pUrp(lse. the amount of the dctieieney. The Penalty of each Local Unit shall be paid tl> the United States Treasury at the dircction of VI'SA llll behalf of and Illr the accounts of the Local Units no later than ninety (<)0) days atìer the end of the spending period to which thc Penalty relates. Section 15. Duties ofVPSA. VPSA shall carry out its duties and responsibilities under this Ab'l"eement and may retain agents. independent contractors and others that it deems lJualificd to CatTY out any or all of such duties and responsibilities. VPSA shall carry out. llr cause to be carried out, all of its responsibilities under the Letter Agreement. VPSA shall retain a copy of all Rcbatc Computations tor at least six (6) years atìer the retircment of the last of VPSA' s Rond:;, VPSA agrees that. cxcept as provided in this Agreement. any rebate liability that VPSA may have on account of the investment and reinvestment of the Gross Proceeds of VPSA's bonds, including. by way of example and not of limitation. any rebate liability as a result of the investment <.If money credited to funds and accounts created under its bond resolutions or as a result of the a<.h':lI1ce rctìmding of its bonds. shall be the sole responsibility of VPSA and not any Local Unit. -19- ~~Yl :;75~!'~:i\·.-1 Section 16. Duties of the Depository. The Depositllry shall carry out its duties and responsibilities under the SNAP Documents and this Agreement. Section 17. Duties of Loca111llits. A. The Local Units will cooperate with VPSA. the Investment ~anager and the Depository in order to ensure that the purposes of this Agreement are fultìlled. To that end, each Local Unit covenants and agrees that it will take any and all ac.tion and rctrainITom taking any and all ac.tion, as recommended by its bllnd counsel, to maintain the exclusion trOlu b'TOSS income for federal income tax purposes of interest on its Local School Bonds III the same extcnt such interest was so exeludabk on the Closing Date. B. If a Local Unit is required to restrict the \ïeld on its investments in order to comply with such covenant or t(l maintain the exelusion trom gross ineomc for kderal income tax purposes of the interest on VPSA·s 13onds. it shall timely notily the Investment Manager to restrict such Yield to the VPSA's 130nd \'ield. To the extent penuilled by law. each Local Unit agrees to provide ror the payml'l1t of any Yidd Reduction Payment required to ellmply with the Yield Restriction Requirement, ti'om any funds that are, or may be made legally availabk. tllr sueh purpose. Each Local Unit acknowledges that thc payment or its Yield Reduction Paymcnt is nec.cssary to maintain the exclusion Irom gross income 1,lr federal income [ax purposes or interest on its Local School 130mb as well as the VPSA's Bonds. Each Local Unit agrees to complete and to provide to VPSA such tllTlllS as VPSA may rcqllest Illr liling in conncction with the paymcnt of the Local Unit's 'Yield Rcduetinn Payment. C. Each Local Unit agrec, Illlt to dmrgc its gcnera1 fund or othcrwisc set a,idc llr carmark funds with which to IJav debt service on its Local School ß()nds (other than as a IlUd~et ~ ~ itcm) prior III the date of payment therenfto VI'SA. -10- :-.1....1 :,:~ I h...~\ -I- D. Eaeh Loeal Unit agrœs to provide I,'r the payment of its Local Unit Rehate Requirement and/or Penalty and acknowledges that the payment of its Local Unit Rebate Requirement and/or Penalty is necessary to maintain the exclusion trom gross income lor federal income tax purposes of interest on its Local School BLInds as well as the VPSA's BLInds. Eaeh Local Unit agrœs to complete and to provide to VPSA such 1,)fIns as VPSA may request I,'r tìling in connection with the Inl)1nent of the Local Lnit Rebate Requirement alll/!or Penalty. E. Each Local Unit herehy covenants and represents that neither the Local Unit nor any related party. as detined in Section 1.150-1 (b) of the Treasury Regulations. to such Local Unit, pursuant to any arrangement. I¡mnal or inl,)fma1, will purchase the VPSA's Bonds in an amount related to the amount of Local School Bonds to he aequired from such Local Unit hy VPSA. Section Ill. Responsihilities of thc Invcstmcnt Manager. The Investment Manager shall be the agent o( and serve at the expense o( the Local Units. to manage and direct the temporary investment and reinvestment of all moneys to the credit of the Proceeds Accounts pending their disbursement to the Local Units and to make such computations as required hy this Agrl'Cment. In general. the duties of the Investment 'v1anager shall inelude those described in the S:'\AP Documents. In particular. the Investment Manager will direct the investment and reinvestment of nHlneys to the credit of the Suhaccounts or each Local Unit in accordance with the Inlimnation Statl'ment, the Contract and this Agrœment. Section 19. Costs. Costs of SNAP arc payable as provided in the Information Statement. The difference III the interest rates hetv\ecn VPSA's ßonds and the Local School Bonds shall be -21- \YJ :'75J~1:'\".·1 colkct.:d and retained hy VPSA as partial payment of the administrative <:osts incurred hy VPSA in wnncction with issuing. <:arrying. and r.:paying VI'SA's ßonds, and th.: underwriting dis<:ount. if any. and th.: Cllst of purchasing. .:arrying, and sdling or redeeming the Local S.:hool Bonds. VPSA will not charge any oth.:r fee to th.: I.o.:al Units for its s.:rvi<:.:s or sœk reimhursement ti,r its kes and .:xpenses. including counsel tees. incurred in wnn<:ction with the disdmrg.: of its duti<:s and responsihilities under this Agrœm<:nt. Section 20. Opinions of Counsel. On the Closing Date. VPSA and .:aeh I.o.:al Unit shall lilfllish an opinion of wunsel addressed, in the case of counsel to VI'SA, to all the Lo<:al Units. and in the case of counsel to the Local Units, to VI'SA. to the effect that the ohligations of its client under this Agreement are valid. hinding and entim;eablc against su<:h e1ient in accordance with its terms. Section 21. Amendment. This Agreement may h.: amemkd only with the .:onse11l of all the affected parties; provided. however, that this Agreem.:nt shall be amcnded whcnever, in th.: judgment of VI'SA, hased on an opinion of its Cllunsel. such amcndment is required in order to insure that interest on VI'SA's Bonds shall remain exdudablc hom gwss inwme ti)r kderal inCllme tax purposes to the sam.: .:xt.:lll it was. in the opinion of su.:h <:nunsel, so exdudahk on the Closing Date. VI'SA shall oflà to am<:nd this Agre.:m.:nt wh.:n.:v.:r it shall in gllod Ü¡ith d':ll:nlline, based on an ,)pinion of its counsel. that anyone (Ir more of the restrictions or relluirem.:nts imposed hy this Agr<:cmcnt upon the Lo.:all.'nits, or any llfthem, may be remov.:d or moditìcd without adverscly am:cting the exclusion of int.:r.:st on VI'SA's Bonds ti'om gross income I,')r federal in<:ome tax purposes. -22- 1\, 1 :;7~ 1 fl"¡~\ .-1 Section 22. Notices. Whenever notice is to be given pursuant to the provisions of this Agreement, such notice shall be deemed to havc been satisfactorily given on the same day if hand delivered or tclecllpied during rl'gular business hours or three (3) days atìer the date of postmark if mailed. tirst class mail, postage prepaid. as follows: If to VPSA. to Virginia Public SChOll I Authority c/o State Treasurcr by hand 3rd Floor. James Monroe Building 10] North J 4th Street Richmond, Virginia 23219 bymail Post Office Box 1879 Richmond, Virginia 23218-] 879 by tclec()picr (804) :225-3] 87 In nil y case Attention: Public Finance Manager If t() thc Deposiwry. to \Yaehovia Bank, N.A. 13 Y hand 1021 East Cary Strcl't Richmond. Virginia 23219 Bymail Post Office Box 27602 Richmond, Virginia 23261 By telecopier (804) 697-7370 In any L'as~ Attention: Richard H. Grattan Senior Vice President If to the 1nvcstment :Ylanagcr. to PF:Y1 As,et Management LLC 13 Y hand Olll' Keystone Plaza. Suite 300 J\. Front & Markct Streets Harrishurg. P A 17101 By mail One Keystone Plaza. Suite .'00 N. Front & Market Streets lIarrishurg, P 1\ 1710 1 13y telecopicr (717)2.i3-ó07.' -23- t~YI ~:51l'45\""¡ In any ease Attention: Barbara Fava Managing Diredor If to a Lo.:al Unit. tn the addr.:ss or tdecopier number indi.:at<:d on the page of this Agreement executed by su.:h Ll..:al Unit. Any su.:h address or number may b.: .:hanged by written notice given to all the other parties to this Agr<:cment and the Investment \-Ianag.:r, .:x.:ept that a Lncal Unit need give sueh noti<:c only to VI'SA, the Depository and th.: Investml:l1t ~l:lI1ager. Section 23. No Third Party Beneficillries. EX':l'pt as herein otherwise expressly provided, nothing in this Agreement exprcsscd or implied is intended or shall be .:onstrued to confer upon any person, linn or corporation other than the parties hereto any right. remedy or claim. legal or e4uitable. under or by reason of this Agreement or any pwvision hereof: this Agreement and all its pnlVisions being intended to be and being for the sole ami exdusive benetit of the parties here[n. Section 2.... Scvcrability. In case any nne nr mnre of the provisions of this Agreement shall It)" any reason be held to be illegal or invalid. such illegality or invalidity shall not alkct any other provision of this Agreement and this Agrccment shall be construed and enll>reed as if sudl illegal or invalid provision had not been contained herein. In case any covenant. stipulation, obligation or agreement contained in this Agreement shall ¡il!" any reason be held 10 be in viol:1tion of law. tlll'n such covenant. stipulation. obligatinn nr agreement shall be deemed to be the ellvenanl. stipulation, obligatinn or agrcement ofthc affected party [n the lùll extent permitted hy law. Section 25. No Persolllll Lillbilit~,. All .:ovcnants, stipulations. obligatinns and agreements of VI'SA .:ontained in this Agreement shall be deemed tll be covenants. stipulations. obligations and agr<:cments of VPSA -24- \I'd 57:'1,.,·1....\. ~ to the tllll L,-xtent authorized by the laws and permilled by the Constitution of Virginia. No covenant, stipulation, obligation or agreement contained herein shall be deemed to be a covenant, stipulation. obligation or agreement of any present or lùture member, employee or agent of VPSA or any Local L1nit in his individual capacity. ì\:o commissioner, otlìeer. employee or agent of VI'SA or any Local Llnit shall incur any personal liability in acting <'r proceeding or in Iwt acting or not procceding. in good faith, reasonably and in accordance with the terms of this Agreement and the applicable laws of the C\'mnwllIvealth of Virginia. Section 26. Applicable Law. This Agreement is executed with the intent thaI the laws oflhe Commonwealth of Virginia shall govem its construction. Section 27. COllntcrparts. This Agrecmcnt may be executed in one or more counterparts. ,- -",)- :-. Y I ~7~ I h·I~\ ..\ Section 28. Effective Date; Term. This Agrecmcnt shall take em.'ct on thc Closing Datc and shall cxpire on thc datc on which VPSA shallmakc thc tinal rehate paymcnt rcquired hy Part D ofthc Lcttcr Agreemcnt. Virginia Pnblic School Authority By: Name: Title: Rkhanl A. Davis Assistant Sccretary and Assistant Treasurer Wachovia Bank. N.A. By·: Namc: Titlc: Richard II. Grattan Senior Viee Prl'sidcnt PFi\I Asset Management LLC By: Namc: Title: Barbara Fava Managing Director -"':'1'1 S'SI',·I:'v.-1 :-'¡,UIE OF ISSUER: Page 1 of2 A. Address for notices. by hand, hy mail and by teleeopier, if any, as referred to in Section 22 abovc: n. Authorized Reprcscntative(s): Name Iitlç S12-ç~ilJ)çn Signature C. Loe:.I School Bonds Closing Date (if not November 9, 2006 enter Date of Issue of Local School Bonds): D. Is the Small Issuer Exception applicable to this Issul'r'! (If Yl'S, an opinion of Bond Counsel and Issuer's eo\'Cnant is required as per Section 9 herein). Yes :"'Jl\ E. Eighteen Month Exception: Estimated Investment Earnings I"r purposes "fthe Eighteen-'vlonth Exceptinn: $ If any proceeds are used to rellllld prinr debt. pleasl' indicate: proCl'Cds llsed to refund prinr deht: $ issuanCl: expense allllcabk tll the rdllllding portion of the issue: $ ~Yi ~:"ll,~5·,·1 :"/A:\1E OF ISSUER: -. Page 2 of2 F. Elections with respect to Two-Year Exception: I. Eledion to use adual f:.K(s in lieu of rcasonabk expœtations ttlr purposes or the Two- '{ ear Exception: Yes No ') Estimatcd Investment Earnings: S I. (I' any proceeds are used to rerund prior deht. pkasl' indieatc: (a) prl1cceds uscd to relùnd prior deht: S (b) issuanœ expenses allocahle to the refunding portion of the issue: S ') Bifureation Election to treat the portion of the issue used ttlr construction as a scparatc issue: 'Y'es ì\o (ryes. state thc portion tlrthe issue used ttlr construction and non-constructitln. respcctivdy: (the SIUll ofthl' ttJlhlwing amounts must equal the issue priœ of Sm. , , .,--..___ reduœd by any Pllltion used ttlr refunding purposcs): (a) p()rtion (lJ'the issue used t"r constructi(ln: S (h) issuance cxpcllses allocahlc to the c<lnstrudion portion or the issue: $ (e) porti(lll oftl1l' issue used t,'r 1l0n-wnstmcti()ll: $ (d) issu~mcc cxpenses allocal?le to the non-eonstruetion ptlrtion of the issue: S 3. Penalty E1eeti(ln to pay 011C and Onc-HalfPereent Penalty in lieu orrehate: Ycs No City/County By: ì\allle: Title: 'iYJ :':'SI11I:'\·1 Lucall:nit TOTAL: \Y1 ~7511'-15\··1 LOCAL SCHOOL BOI\DS - NON-SUBSmy Principal Amount of Bonds $ Exhibit A Page I of2 Purchase Price ::; S' ~ A-I ~ Local Unit TOTAL: 1\''1"1 5;:'lh"¡~\".·1 Exhibit A Page 2 of 2 LOCAL SCIlOOL BONDS - Sl"BSIDY Principal Amount of Bonds $ Purchase Price $ s i\- , i Exhihit B [:\0 requisition is required in conjunction with a cheek payable to a vendor in respect <-,fan invoicc due and payable.] FOR'I OF REQUSITlO:'ll FOR REIl\lBURS~:I\Œ:'IIT BY 1}IŒ-AlJnIOIUZED ELECTRONIC Fl!:'IIDS TRANSFER [To be used for REIMBURSEMENT to a Local Unit from Local Sehotll Bond proceeds for an invoiœ or obligation that has been paid and is eligible tilf payment ti'om Local School Bond proceeds. ] PFI\1 Asset \fanagcmcnt LLC One KeyslOne Plaza. Suite 300 N. Front & \f¡n'ket Streets Harrisburg, Pennsylvania 17101 VIRGI:'IIIA PUBLIC SCHOOL ALTlIORITY [Name of Local Unit) BO:'llD PROCEEDS ACCOLI\T - SERIES 200(i B ISSUE Rt'tlUisition from thc Principnl Suhnccount Rcquisition :\0. ("item Ilumber") This requisition ti.>r payment th,m the Principal Subaœount of thc Prllcceds Aœount is submitted in aeeordance with the pro\'isions of the Proceeds Agreement d:lled November 9. ~006. among thc Virginia Public SdJ[l{ll Authority ("VPSA"), the uI1llcrsigncd (the "Local l:nif') and thc other units ofloeal governml'nt signatory thereto, ProM Asset Management LLC. as [II\'cstment Manager and Waehovia Bank. 'J,A.. as Depository, \\m arc hereby notilìed that you arc authorized and dircetcd by the Local Unit tn pay the li)lIowing obligatilll) l'Ì"tlm the Principal Suhac'enunt: I. The item numbcr of sueh payment: , The amounl[ s] to be paid: S 3. Purpnse by general dassitieation till' which sueh obligation was ineurrcd: ß-I \Yl ~"'51/'·15\··1 Dated N....I S75Ih"¡.~vA 4. Th.: date(s) the exp.:nditure(s) was/were made: To r.:imbursc the Local Unit tllr costs of the _ School paid hy the Local Unit through _, 20_ as tllllows: 5. A .:opy of each supporting I invoice. work llrd.:r. statement] Ilx which reimhursement is to be made is attached hereto. 6. The ohligationrs] in the stated amount[s] havc been paid. and each item thereof is a proper charge against th.: proceeds of the Lll.:al Unit's Proœeds A<:<:ount and has not hcen the suhjcct of a pr.:vious withdrawal ti'OJ]] th<: Pw<:<:eds A<:eount. 7. All ofwhi<:h is h<:r<:hy <:l'rtiti.:d. [Name of Local Unit] By: Authoriz<:d Lo<:al Cnit Representative B-2 Exhibit C Vir~inia Public School Authority 101 :"Iorth 14th Strect Richmond, Virginia 23219 LETTER AGIŒEI\IENT Novembcr 9, 200() Rc: Custody, Invcstment, and Disburseml'nt of Proceeds of Local School Bonds Purchased hy the \'ir~inia Public School Authority with the Proceeds of Its $1200() B PAR Al\'IOl!~TI School Financing Bonds (1997 Resolution) Series 200() B This LETTER AGREK\IENT. dated the date shown above (this "Letter Agreement"'). is betwccn the Authority and the Investment Manager. All capitalized tenns used herein shall have the meaning givcn to them in Part E of this Letter Agreement or in Section 2 of the Pwœeds Agreementlo which this Letter Agreement is attached as Exhibit C. With respl'et to the VPSA's Bonds. the Code requires that an amount equal to the VPSA's Rehate Requirement be paid to the Lnited States Treasury. With respect to each issue of Ll1eal Sehl10l Sl1nds, the Cl1de requires that an amount equal to the Local Unit's Rebate Requirement be paid to the United States Treasury. Aœnrdingly, VPSA hereby directs the Investment Managl'r. as provided below, to assist VPSA and each Local Unit to comply with the VPSA's Rebate Requirement and the respective Local Unit's Rebate Requirement. To enahle VPSA and the Ll"al Units to fulfill their respe<.:tive obligations under the Proceeds Agreement and to make such payments. and to enable tbe Investment Manager tl1 fultìll its llbligatilllls umler this Letter Agreement, the Investment Managcr will prepare, on or bctì.>re June I, 2006 and each June I thereatìer. the Investment Reports t,'r VPSA as of the preœding November 9 and ea<.:h l.llca1 Unit as of the pre<.:cding Nllvembcr 9. In addition. if a Loca111nit has selected a L<"eal Unit Computation Date other than an Installment Clllnputation Date or the Final Cl1mputation Date, the Investment \'tanager will prepare the Investment Report tix ,ueh I.o<.:al Unit within (7) days aller the Loea1 Unit Computation Date. On the basis of su<.:h Investment Rl'ports. VPSA shall cause the Rehate Cal<.:ulation Agent tl> prepare (a) the 1.0<.:a1 Unit Rchate Computation setting Illlth the Local Unit Rebatc Requirenli.'nt as nf each Computation Date li)r each Local Unit with respe<.:t to its is,ue of Ll1<:al Schol11 Bonds as described in paragraph .1l)f Part B hereto and (b) a calculatil1n l1f the Yield Reduction Payment as llf each Computation Date that must be paid by till' I.o<.:al L:nit to <.:omply with the 'Yield Restriction Requirement as described in Part D hereto. In addition. the Invcstment \-lanager will. based nn the R<.:hate Report. transfer. within thirty (3n) days atier the Computation Date llf ea<.:h I.l><.:al Unit. trom its Principal Suhaecount, if ne<.:cssary. to its Income Subaccount. the amount required so that th<.: anli)Unt to the credit of the InCl1l11l' Suba<,:cllunt of each Lo<.:al Unit shall equal its Local Unit Rebate Requirement. ('-I 'lYI ~:':'lh·I:',.·1 A. Investment Report With respect to all '\onpurpose Investments acquired during thl' term of this Letter Agreement with Gross Proeccds of each issue of Local School Bonds, the Investment Manager shaIlmaintain sl'parate Investment Reports for each issue of Local School Bonds. The Investment Report ((Ir each Local Linit shaIl rdleet the investments made with !"Cspect to its Proceeds Account. B. Itebate Computationllll Local School Bonds vPSA shall compute each Local l;nit's Rebate Re4uirement with respect to its issue of Llleal SehlllllBonds in accordance with the proccdure described helow: 1., As of each Computatillll Date, VPSA shaIl cause the Rebate Calculation Agent to determine the Future Value of all nonpurpose payments made with respect to the Nonpurpose Investments purchased with or allocated to the Gross Proceeds nf the Local School Bonds, as well as any rebate payments made, to such Computation Date in accordance with the requirements of the Treasury Regulations. Unless vPSA shall otherwise direct, transaction costs incurred in acquiring, carrying, selling or redeeming such nbligalions, shall be accounted for as provided in the Information Statement. 2. As of each Computation Date. vPSA shall cause the Rehate Calculation Agent to determine the Future Value of all nonpurpose receipts rcceived with respcet to the "onpurpose Investments purchased with or allocated to the Gross Prllcceds of the Local School Bonds, as well as any rebate payments recovered, to such Computation Date in accordance with the requirements of the Treasury Regulations. 3. As of each Computation Date. vPSA shall subtract the amount computed pursuant to paragraph I from the amount computed pursuant to paragraph 2. Such amount shall be the "Local Unit Rebate Requirement"' as of the COlllputatÏlln Date. 4. Each of the Local Units has covenanted in Section 17 of the Proceeds Agreelllent not to charge its general fund or otherwise set aside or earmark funds with which to pay debt service on its Loeal SelllKl1 Bllllds (other than as a budget item) prior to the date of payment the!"Cofto vPSA. 5. The Local Unit Rebate RC4uirement may be treated as being met and no rebate computation shall be required with respect tn the proeccds of the vPSA's Bonds applied to purl'hase such Local Unit's Local Sl'hoo1 Bonds if the VPSA receives the opinions and covenants or eeltitieation described in Section 9A llf the Proceeds Agrel'ment that a Lncal Unit mects the requirements of the (a) Six-Month Exception. (b) Lightl'l,n-Month Exccptinn. (c) Small Issuer Exception. or (d) Two-Year Excepti")1, suhjeetto the pHJvisions described below. (a) Six-\lonth Exccption. Notwithstanding the l;¡ct that all of the Gross Proceeds of the Local School Bnnds are spent within six (6) months nf the date of issue and no other Gross Prlleeeds of the Local School Bonds arc antil'Ïpated l(lr the remainder of the term of the issue, if Gross Procceds of the Local Seholll Bonds hel'Ol11e availahlc after the C_J \YI 57~h'·I:;\".-1 end of the initial six-nlllnth period. the Local Unit Renate Requirement shall be computed with respect to such GrllSS Proceeds in accordance with the procedure deserined above. (b) Eightcen-Month Exception. Notwithstanding the fact that all of the Gross Proceeds of the Local School Bonds are spent within eighteen ( 18) months of the date of issue and no other Gross Proceeds of the Local School ßonds are anticipated tllr the rcmaindcr of the term 01' the issue. if Gross Proceeds of the Local Sdl001 Bllllds bceome ,mlilable aner ¡he end of the initial eighteen-nwnth period, the Local Lnil Rebate Requirement shall be computed with respect to such Gross Proceeds in accordance with the proccdure dcseribed above. (c) Small Issuer Excention. If a Local Unit delivers to VPSA no later than the end of calendar year 2006 (i) the opinion of natillnally recognized bond counsel that the Local School ßonds of such Local Unit purchased by VPSA with the proceeds of the vPSA's Bonds will be treated as meeting the requirements of Code Scctions 148 (t)(2) ami (3) pursuant to Code Section 148 (t)(4)(D) and (ii) the Local Unit's covenant that it shall provide for the paymcnt of or reimburse vPSA I,)r its paY111ent of the Local Unit Rebate Requirement in the event that the Local School ßonds of such Local Unit fail tll meet all the requirements of the Small Issuer Exception, then no rehate computation shall be made with respect to the proceeds of VPSA' s Bonds applied to purchase such Local School ßonds. Although the Local School Bonds of a Local Unit may qualify for the Small Issuer Exception, custody, investment and disbursement of the proeceds of the vPSA's Bonds applied tll the purchase of the Local Unifs Local School Bonds shall continue under the Proceeds Agreement, and the Investment Manager shall continue to provide an Invcstmcnt Rcport tlll'sueh Local Unil. 6. In addition to the foregoing, no rebate computation shall bc required with respcct to the proceeds of the vPSA's ßonds appli<:d to purchase a Local Lnifs Local Seholll Bl.lnds ¡fa Penalty Ekction has been made on nehal f of the Local Unit with respect to such Local SChOll! ßonds. C. Aggregate Renate Computation on Local School Bond~ In the event that the Treasury Regulations require that the Local Units' Renate Requirements be eakulatcd in the aggregate. vPSA shall el.)mpute the Aggregate Local Unit~; Rebate Requirement in accordance with the procedurl' set t,'rth below, I. As of each Computation Uate. vPSA shall cause the Renate Calculation Agent to dctel111ine the Futurc Valuc of all nonpurpose payments made with respect to the Nonpurpose Investments purchased with or allocated to the Gross Proceeds of all of the Local School Bonds in the aggregate (except those qua!itYing tllr Olll' of the Rehate Exceptions or those thaI have made thc Penalty I:Jection). as well as any rebate payments madc. to such Computation Date in aceordance with the requirements of the Treasury Regulations. ) As of eaeh Computation Date. V PSA shall cause the Rehate Caku!ation Agent to determine the Future Value of all nonpurpose receipts rceeived with respect 10 the Nonpurpl.)se Investments purchased with or allocated to the Grl.lSS Proceeds of alll.,f the Local Schol.)1 ßonds C-3 f\Yl :;7:' I h4~~...J. in the aggregate (except those qualitying !()r one of the Rebate Exccptions or those that have madc thc Penalty Election), as well as any rchate receipts recovered, to such Computation Dale in accordance wilh the requirements of the Treasury Regulations. 1 As of each Computation Date, VPSA shall subtract the amount cumputed pursuant to paragraph 1 trom the amount computed pursuant to paragraph 2. Such amuunt shall be the "Aggrcgatc Lllcal Units' Rebate Requirement"' as ofthc Computation Datc. D. Yield Reduction Pavment With respect to each Loc,lIl:nit that has amounts on dcposit in its Proceeds Accounts on .lIld aftcr November 9, 2009. VPSA shall cause the Rcbate Calculation Agcnt to computc, as of each COlllputati,)n Date. the amount that such Local Unit must pay as a Yield Reduetion Payment pursuant to Treas. Reg. Section 1.14S-5(c) in order tu cause the )'icld on the investment of any amounts in the Proeccds Account on and aner \lovember 9. 2009 to be less than or equal tll the VPSA's Bund Yield. The calculation of such 'Yield Reduction Payment shall not take into account any investment activity prior to November 9, 200l). Such amount shall be the "1.ocal Unit Yield Reduction Payment" as of the Computation Datc. E. Rebate Pavment I. Upon the calculation of the Loeall:nit Rcbate Rcquirement and Yield Reduction Payment tix each Local Unit, VPSA shall noti ry the Investment \1anager therel,r. The Investment Manager shall promptly charge the Principal Subaccount of a Local Unit to the extent the amount on deposit tll the credit of its In<.·ome Subaccount is less than the sum of its Local Unit Rebate Requirement and Local Unit Yield Reduction Payment and credit its Income Subaccount with an amount such that the balance to the credit of the Income Subaccount is equal to the sum of its Local Unit Rebate Requirement and Local lnit Yield Reduction Payment (taking into account prior amounts credited to the Ineome Subaccount including investment ineome thcrcon). To the extent that the amount on deposit in thc Principal Subaccount is insutlieient to provide for a deposit to the Income Suhael'Ount such that the halance in the Income Subaecounl is equal to the sum llf the Local Unit Rebate Requirement and Local Gnit Yield Reduction Paymcnt t()" thc Local Unit, the IlJ\'estml'nt Manager shall advise VPSA and such I.ocal l:nit of the amount of the dcticicney so that the Local l;nit may promptly transler to thc Dcpository the amount required pursuant to Seelion 12 of the Proceeds Agreemcnt. ) In addition to the computation or the U'eal Lnits' Rebate Requirement. VPSA shall calculate its Rebate Requirement with respect to Nonpurpose Investments that were acquired with the Gross Proceeds or the VPSA's ßonds in accordance with the prncedures set li'lrth in the Tax Certitìeate exeeuled by VPSA in connection with the issuance or the VPSA's Bonds. J. The Local Unit Rebate Requirellll'nt tix l'ach Local Unit. ir a posilive number. shall be paid at the dircction of VPSA to the United States in installments. Each payment musl be in an amount not lcss than the total of nincty pen:ent (l)()C!ó) or the Local Unit Rebate Requirement t(lr each Local Unit as of each Installment Computation Date. All o!'the Local Unit Rebate Requirement must be paid to the United States within sixty (60) days atier the Final C-4 \YI ~7:i11,·1::".: Computation Date. All of the Local Unit 'Yield Reduction Payment as lll' each Computation Date must he paid to the United States within sixty (60) days of each Computati()n Date. Each payment shall be made not later than sixty (60) days aner each Computation Date. Payment shall be made to the Internal Revenue Service Center, Ogden, Utah R420 I and he accompanied by Form :<03:<-T. VPSA shall make such paYlllent as required. Investment Rl'ports and rewrds ()f the determinations made hereunder shall he rl'lainl'd hy the Investml'nt \1anager and by VPSA. respectively. until six (6) years aticr the retirem<:nt of the last ofVPSA's Bonds. F. DdilliliQus In addition to the words and tem)s dctined in the Proceeds Agrl'ement to which this Letter Agreement is attached as Exhihit C. the 1(,llowing words and terms shall have the fllllowing meanings: uß()nd Resolution"' shall mean the resolution of the Authority adopted on October 23, 1997, as amended and restated on Oetober 5, 1998, and as supplemented. "'Fair Market Price" shall mean thc purchase price and disposition price of a Nonpurpose Investment. Any :\onpurpose Investment purchased must be purchased at the Fair Market Price. An investmcnt that is not of a type traded ()n an established market. within the meaning of Section 1273 of the Code, is rebuttably presumed to be acquired llr disposed of at a price that is not equal to its fair market value. Accordingly. a premium may not be paid to adjust the yield on an investment, a lower interest rate than is usually paid may not adjust the yield on an investment and no transaction may result in a smaller prolìt o~.larger loss than would have resulted if the transaeti()n had been at arm's-length and had the yield with respect to the Bonds not been relevant to either party. Pursuant to Treasury Re!,'ulatioj¡ Section 1.14S-5(d), the following are safe harbllrs tor establishing the Fair Market Price of eertitìeates ()f deposit and guaranteed investment contracts: ¡i) Certiticate of Deposit. A certitieate ()f deposit with a Ii xed interest rate, tixed paYlllent schedule and a substantial penalty for early withdrawal will be deemed purchased li'r tllir market value if the yield on the certilìeate of deposit is not less than (i) the yield on reasonably comparable direct obligations of the United States and (ii) the highest yield published or posted by the provider to be currently availaole from the provider on reasonaoly comparah1e certitieates offered to the public. See Section 1.148- 5(d)(6)(ii) of the Treasury Regulations. Iii) Investment Agreement. Investments pursuant to a !,'llarantœd investment contract will be regarded as being made at fair market value if (a) A hona tide s()lieitation Ii)' a guaranteed investment contract is made tbat satisties all of the following requirements: (A) the hid speeitieations an.' in writing and are timcly lilflvarded tl) potential providers. (B) the hid speeitieations include all material tenlls that may directly llr indirectly affect the yield or the cost of the guaranteed investment contract. (C') the bid spceitieations include a statement notilying potl,ntial providers that submission of a hid is a representation that the potential provider did not consult with any other potential ('-5 ~~y I 57:' I "·1:\\". I J\Y I .~-;~ I (1"¡~\·.-1 provider abllut its bid. that the bid was ddçrrninçd without regard to any other tl.lnnal or in t<mnal agreement that the potential provider has with the Issuçr or any other person (whether or not in connection with the issuance of the Bonds), and that the bid is not being submitted solely as a courtesy to the Issuer or any other person t,'r purposes llf satisfying the requirements wntained in Section 1.14S- 5(d)(6)(iii)(B)(1) or (2) of the Tn:asury Regulations. (Dl the t<.'l1ns of the bid speeilìeations are commercially reasllnable in that there is a kgitimate business purpose tl.lr eaeh te11n other than to increase the purchase priee or reduce the yield of the guaranteed investment contracts. (E) the terms of the solicitation take into acwunt the reasonably expected deposit ¡llld drawdown schedule t(lr the amounts to be invested, (F) all potential providers have :In equal opportunity to bid and no potential provider is giwn the opportunity to review other bids (i.e.. a "Iast look") bd<lre providing a bid. (G) in those cases where the Issuer çngages a bidding agent to eonduct the bidding, such agent did not bid to pwvide the investmçnt. and (II) at lçast threç reasonably e011lpetitive providers are solicited for bids. A oOreasllllably w11lpditive providd' is a provider that has an established industry reputati\.lll as a competitive provider of investments of the same type as such ¡,'uaranteed investment wntract; (b) At least three bona tìde bids on the guarantœd investment contract arÇ received from providers that haw 11ll material tìnaneial interest in the Bonds. The tl.lllowing are deemed to have a materiallìnandal interest in the Bonds: (A) the lead purchaser in a negotiated underwriting tr,msaetion until 15 days alìer the issue datl' of the issul'. (B) any entity ading as a lìnaneial advisor with respect to the purchase of the guarantel'd inwstmcnt wntract at the time the bid speeilkations are IÖrwarded to potential providers, and (C) a pnlVider that is a related party to a provider that has a material tinaneial interest in the execution and delivery of the Bonds; (c) At least one of the thrçe bids received IS from a reasonably competitive providcr. as described above; (d) The winning bidder pnwides a certiticate that (i\) lists the reCIpIents. amounts and purposes of any brokcrage fcc, plaeement fee. commission or administrati\'e wsts that it is paying (or ex peds to pay) to third partiçs in conneetion with supplying the guaranteed investment clllltraet, (13) states that the yield on the guaranked invcstment eon tract is not kss than the yield availabk tÌ"llln the pnlVider on reaslHlably comparahk guaranteed investmcnt eon tracts lltl"cred to other persons tì'om sources of funds other than gross procl:Cds of tax-exempt obligations, and (C) in those agreements wherein the Issuer deposits amounts (llther than amounts deposited in debt service funds or re:Nlnably relluired reserve or replacement (ùnds) statcs that the ¡ssuer's draw- down scheduk was a signiticant factor in determining the terms ofth<.' guarantecd investment contrad: (e) The highest yielding guarantecd il1\"Cstment eontrae,( tÖr which a bona tide hid was made is purchased (lktermined nd ofhroker's fees. if any); and ("-6 (f) The t'lllowing rœords arc retained with the bond documents until three years atier the last outstanding Bond is redeemed: (A) a copy of (he guaranteed investment contract. (B) the receipt or other record amount actually paid tor the guaranteed investment contract. including a record of any administrative costs paid and the eertitication under subsection (d) bereof: (C) for each bid that is submitted. thc name of the person and entity submitting the bid, thc time and date of the hid. and the hid results, and (D) the bid solicitation t'lnn and, if the terms of the guaranteed investment eon(ract deviated from the bid solieitaticllI t'lnn or a submitted hid is modi lied. a brief statement explaining the deviation and stating the purpose I,)r the deviation. "future Value" of a payment or rel'eipt at the end of any period is determined using the economic accrual method and equals the value of that payment or receipt when it is paid or rœeived (or treatcd as paid or received), plus intercst assumed to be earncd and compoundcd lIver the period at a rate equal to the Yield on thc VPSA's Bonds, using the same compounding interval and financial conventions used tll compute that yield. "Gross Proceeds" shall have the meaning aserihed to such term in Section 148 'of the Code and shall mean: (a) anlllunts actually received or constructively received hy VPSA Irom the sale of the VPSA's Bonds and the amounts actually or constructively reecived by thc Local Units from the sale of the Local School Bonds, other than any interest accruing llll the VPSA' s Bonds from thc dated datc to the issue datc of such bonds; (h) amounts treated as Transferred Proceeds (as defined in Treasury Regulations Section 1.148-9) of thc VPSA's Bonds or thc I.ocal School Bonds, if any; (c) amounts that arc reasonably expcetcd to be or arc in tilet used to pay deht service on the Bonds including amounts in the sinking fund portilHl llf thc 1997 Income Fund under the Bond Resolution and the 1997 Sinking Fund under the Bond Rcsolutilln: (d) securities or ohligations pledged hy the VPSA llr I.ocal Unit as sl'curity for payment of deht service with resp~ct to thc VPSA's Bonds or thc I.oeal School Bonds: (c) amounts received with respect to any invcstmcnts acquired with Gross Proceeds I,)r the purpllSC of carrying OUl the governmental purpose t,'r which tbe VI'SA' s Bonds or thc Local School Bonds were issued, including thc Local School Bonds, except that such amounts shall not include amounts, if any, that are properly allocable to qualified administrative costs reCl\vcrable under Treasury Regulation Scction 1.148-5(e) or to the higher yicld pcnnitted undcr Treasury Regulation Sœtion 1.148-2(d) or Section 14-,(g) of the Code; ('-7 'lYI --751¡Ÿ5\""'¡ (1) amounts treated as "replaccment proceeds" of the VPSA's Bonds or the Local School Bonds within the meaning of section 1.148-1 (c) of the Treasury Regulations: (g) any funds that are part of a rcserve or replacement fund for the VPSA Bonds nr Local School Bonds; and (h) amounts received as a rcsult of investing any Gross Proceeds. Gross Proccl'ds shall inelude amounts that at"l' on deposit in the Income SuhaeCl1unt to the extent that such amounts arc dcrivcd from Gross Proceeds of the VPSA's Bonds or the Local School Bonds. The detenninatilll] of whether an amount is ineluded within this delinition shall be made without regard to whethcr thc amount is credited to any fund or account established under the Bond Resolution, or whether the amount is subject to the pledge of the 130nd Resolution. For purposes of subsection (d) above. an amount is pledged to pay principal or interest with respect to VPSA 's Bonds or Local School Bonds if there is a reasonahle assurance that the amonnt will he available for such purposes in the event that the VPSA or Lnea1 Unit encountcrs tinancial ditliculties. An amount can he indirectly pledged to pay principal or interest with respect to VI'SA's Bnnds or Local School Bonds if it is pledged to a guarantor of cither or both such honds. An amount may he "negatively" pledged to pay principal or interest with respect to VPSA's Bonds or Local School Bonds il"it is held under an agreement to maintain thc amount at a particular level It)r the direct or indirect bcnctit ofthc holders of the blltlds or a guarantor of the bonds. An amount is not negatively pledged howcver if (i) VPSA or the Local Units may grant rights in the amount that are superinr to the rights of the holders of the bonds or a guarantor of the bonds. or (ii) the amount docs not c"ceed reasnnable necds tt)r which it is maintained. the rcquired level is tested no more ti'cquently than every 6 months. and the amount may be spent without any substantial restriction other than a reqnirement to replenish the amount by thc next testing datc. If a decision is made to apply any insurancc or condemnation procccds to the redemptilln or VPSA's 13nnds or Local School Bonds instead of using such proceeds tt)" repair or rcplacemcnt. any such proceeds becnme Gross I'rocecds nn the date of such a decision. The deJinitinn nr Gross Proceeds has been sd out in rull tt)r the sake or completcness. With respect tn each Local School Bond. all of thc Gross Proceeds arc nn dcposit in such Local l;nifs Proceeds Account CXCl'pt to thc extent that the Local School Bonds may be parI of a cllmpositc issuc undcr Treasury Regulation ~ 1.150-1 (c). or the Local Lnit may have retained Transtcm:d Proceeds. With respect to the VI'SA's 13onds. all or its <.irllss Prllceeds arc the total nf the amounts on deposit in the Proceeds ACCllunts of thc Local Units. cxcept as providcd abovc. and the amounts on deposit in the sinking IÌJnd pOltion of its 1997 Income Fund undcr the Bnnd Resolutinn and thc 1997 Sinking Fund under the Bond Resolution. "nveslmt'nt Hepolt" shall mcan the rCCllrd of investment activity maintaincd by the Inn:stment Managl'r with respcct tn thc invcstment property and the Local Units. as dcseribcd in the Contract. C-8 '1....1 ~7:' I h·15·;. I ""Local Unit's Rebate Requirement"" shall mean the sum of (i) the excess of (A) the aggrcgate amount eamed on all '\onpurpose Investments acquired with the Gross Proceeds of the Local School Bonds over (B) the amount that wcluld have been eamed if the Nonpurpose Investments had a Yicld equal to the VPSA's Bond plus (ii) any income attributable to the excess described in clause (i). "Nonpurpose Investments" shall mean any security. obligations, annuity contract or any other investment-type property (as such term is defined in Section 1.148-I(b) of the Treasury Regulations) that is not acquired to e,arry out the govemmental purpl'se of the VPSA's Bonds or the Local School Bonds. Nonpurpose Investments shall not include Tax-Exempt Investments. Any Nonpurpllse Investments shall bll purchased by the Investment Manager only if the purchase price of the '\()npurpose Invcstment is the Fair V1arket Price. ""Rebate Caleulation Agent'" shall milan that accounting t¡rm with a favorable national reputation in the field of the calculation of amounts subject to rehate to the Lnited States under Section 14S( f) of the Code and the Temporary Regulations that has been appl'inted under Section 7.~ of the Contract or by VPSA. ""Tax-Exempt Investments"" shall include: (i) obligations the interest on which is excludable hom gross income /()r tederal inCllme tax purposes. and not treated as an item of tax prcterenee under Scetion 57(a)(5)(C) of the Code. (ii) stock in a regulakd investment company to the extent that at least 95°/Í> of the income to the holder of the interest is excludable fr()m gross income under Section 103 of the Code, and (iii) certitieates of indehtedness issued hy the United States Treasury pursuant tl> Demand Deposit State and Local GoVellUllent Series program described in 31 CFR part 344 (""SLGs""). "Treasury Regulations" shall mean the Treasury Regulations Sections 1.148-0 through 1.148-11, 1.149(b)-\. I. 149(d)-1. 1.149(e)-I. 1.149(g)-1. Section 1.150-1 and Section 1.150-2. as amended from time to time hereatier, and other regulations pmmulgated under Section 148 of the Code. ""VPSA's Renate Requirement'" shall mean the sum of (i) the excess of (A) the aggregate amount earned llll all Nonpurpose Investments acquired with the Gross Proceeds l,f VPSA's Honds over (B) the amount that would have been earned if the Nonpurpose Investments had a Yield equal to VPSA's B()nd Yield plus (ii) any income attributable to the excess described in clause (i). ""Yield"". Iì)r purposes of this Lctter Agreement, shall be ealeulated pursuant to the Treasury Regulations ny means of an actuarial nll'thod of yield calculation whereby ""yicld"" ml'ans that disCllunt rate which. when used in computing the present value of all the unconditionally payable payments of principal and interest and all the payments t(lr a qualitied guarantee paid and to he paid with respect to the hand. produces an anlllunt equal t() the issue C_l) I\YI s;~ Ih.I.~\".-1 price l,fthe bond. For purposes of this Letter Agreement. the Yield nn VPSA"s Bonds is [2006 ß 'YltLD1~o. The 'Yield on investments mllst he computed by the use of the same frequency interval of compounding interest as is used in computing the Yield on the VPSA's Bonds and the Loeal School Bonds. ('-10 \ Y 1 ~-;~ I (,"¡~\·.·I G. Amcndmcnts In ordcr to comply with thc covenants by V"SA and each of thc Local Units regarding wmpliance with the requiremcnts ofthc Codc and thc ,-,xdusion tÌ"llm federal income taxation of the imerest paid and to he paid on thc Llleal School Bonds and VPSA's Bonds, thc proœdures described in this Lctter Agrecment may be moditied as m:ccssary, based on the advice of wunsd, to comply with rulings. regulations. legislation or judicial decisions as may be applicab Ie to such bonds. Very truly yours. VIRGINIA PUBLIC SCHOOL Al!TIIORITY By: Name: Tille: Richard A. Davis Assistant Secretary and Assistant Treasurer Accepted: PFM Asset :\Ianagement LLC By: ~amc: Barham Fava Title: Managing Director ('-II \YI S751/)-1-"\"' Exhibit 0 AI.:T110RIZED RF:PRESE:"ITA T1VES The tilllowing are the Authorized Repn:sl'ntatives of Virginia Public School Authority, Wa<:hovia Bank, N.A. and PFM Assct \>lanagement I.I.C: V1RGIl'\IA PUBLIC SCHOOL AUTHORITY: ,Name Tit)c .s.pcein1cn Sil!nature Richard A. Davis Assistant Secretary and Assistant Treasurer Evelyn R. Whitley Assistant Sceretary and Assislant Trcasurcr W ACHOVL\ BANK, :'I.A.: " :.lI11C Title Snecimen Sil!naturc Richard H. Grallan Senior Vice President PF:\1 ASSET l\IA:'IAGEi\IENT LLC: Namc Title Soe<:imen Sil!IHlture Barbara L. Fava Managing Dircdor I)-I :-.. Y I 57~ I h·I~\·.·1 WOODS ROGERS r ATTORNEYS AT LAW I. I , 1~II'd: J. ..\. ("I ;' ~ ~'. I .:'.~il q:-;.~_:7 2:-: Çk~l1ll'~ \~,)\)\brllt~l'r" l'llln September 11,2006 City Council City of Roanoke, Virgima Roanoke, Virginia Re: Resolution Authorizing the Issuance of!\ot to Exe<:cd 57,500,000 General Obligation School Bonds of the City of Roanoke. Virginia, Series 2006-B for Patrick Henry 1-1 igh School Gl'ntkmen and \1s. l'vIaslln: Our Ilrm serves as bond ('OlIllSel to the City and Roanoke City Schools in connection with certain school bond financings. On October 23, 2UU3, Council adopted Resolution No. 36524- 1 (¡230], approving an application by Roanoke City Schools to the Commonwealth of Virginia Board of Education lor a loan of 57,50t).noo ¡rom the Literary Fund, to finance a part of the cost of constructing and equipping Patrick Henry I-ligh School (the "PH Literary Fund Loan''). The Board of Education approved the application It)' the PH Literary Fund Loan and placed it on thc Literary Funll waiting list on Septcmber 22. 2U04. Aner publication of notice and the holding of a public hearing on June 21, 2004, as relJuired by the Public Financc Act. Council also adopted Resolution No. 36ì53-0621 04. authorizing the issuanœ of up to $22,350,000 of gcneral obligation bonds of the City, $8.ì75.000 of which bonds were intended to be used to fund a portion of the cost of constructing and equipping Patrick Henry High School (such $8,ì75,OOO of bonds. the "PH GO Bonds"). 1 am advised that $7,500,000 of the PH GO Bonds were intendcd as a possible financing alternative to the I'll Literary Fund Loan. The PH Literary Fund Loan has not been consummated, and only 51.250,OOU fae.:: arnount of the 1'1-1 GO Bonds has been issued to date (leaving 57,525,00U of the previously appr()\'ed I'll GO Bonds unissued). In order to obtain the financing represented altemati\'C.ly by the 1'1-1 Literary Fund Loan and 57,500J)0(¡ of the unissued I'll GO Bonds, Roanoke City Schools liled an application to the Virginia Public School Authority (VPSA) on August 17, 1(1)(,. lor interest rate subsidy bond t1nancing of up to 57,500,000 for capital improvements at Patrick Henry High School (the "PH VI'SA Bonds"). The I'll VPSA Bonds will be issued instead Mthe I'll Literary Fund Loan and 57,500,000 of the unissued PH GO Bonds. The VPSA's interest rate subsidy bond program is structured so that the net interest cost to the City and lht: priI1l:ipal installments lor the 1'1-1 VPSA Bonds will bc csscntially thc samc as lor thc PH I.iterary Fund I.oan. The public hearing previously held for the 1'1-1 GO Bonds will f'J) tkl\: 141 ~=- ¡ Rll:¡:~'.Ikl'. Virgilli~ 2'¡'1~:-':-...1 ~5 : l,IIl),:-: I.~(,-I, !J:!"Í21>-! Illll_llt_I): , : () ~::1l.11I::1 Jl,::I..:rS~11l Sln':l.'l. Suik I,WU 54() 'J:'3--;(.uI). h.lx 5..f) "'SJ-771] ! lllail;(/'\\·¡."JsJ\l!.:l'r~ l'¡'nl Ut Ii,';..'s al~,-\ in BlíJl'~;~hurg. I ).111\ ilk. L)11{:hhur~~ ¡l1ld R.id~-1liond_ Virginiu City Council Pagc 2 satisfy the requirement of the Public Finance Act for a public hearing in connection with the issuance oflhc PH VPSA Bonds, so no ncw public hearing is required. I attach for your consideration a I1nal bond resolution authorizing the issuance orthe PH VPSA Bonds. The resolution approves the details of the bonds, including an estimated debt service schedule and related documents. and authorizes and directs the Mayor or the Vice Mayor and the Clerk or any Deputy Clerk orthe City to execute and deliver the bonds to the Virginia Public School Authority. Following adoption of the resolution. the financing is expected to be finalized and p'roeeeds will be available to the City on or around :'>Iovember 9, 2006. ineerelr L_,e..~~.. ___._. George J. A. Clemo ee: William Hackworth. City Attorney, City of Roanoke Timothy Spencer, Assistant City Attorney, City of Roanoke Kenneth F. Mundy, Jr., Director ror Fiscal Services, Roanoke City Schools Jesse Hall. Director of Finance, City of Roanoke 1/;(;'.IS~ 1 J().] . 07!x.:!tl-l)()r.14()-O] : ....fi"~1.~ r.~""". -_~ ".~I¡"'~";_~ .-...... . ....L:'I: ...: ~ ò.t .;'t- ".i.u~m;¡ CITY OF ROANOKE OFFICE OF THE CITY CLERK 215 Church Avenue, S. W., Room 456 Roanoke, Virginia 24011-1536 Telephone: (540) 853-2541 Fax: (540) 853-1145 E-mail: clerk@roanokeva.gov SHEILA N. HARTMAN Assistant City Clerk STEPHANIE M. MOON, CMC Acting City Clerk September 22, 2006 File #1-1 5-38-83-280 William M. Hackworth City Attorney Roanoke, Virginia ,D.ear Mr. Hackworth: At a regular meeting of the Council of the City of Roanoke which was held on Monday, September 18, 2006, you were reappointed as City Attorney of the City of Roanoke, for a term of two years commencing October 1, 2006, and ending September 30, 2008. . Enclosed you will find a Certificate of your reappointment and an Oath or Affirmation of Office which may be administered by the Clerk of the Circuit Court of the City of Roanoke. Please return one copy of the Oath of Office to the undersigned no later than September 30, 2006. Sincerely, Á~ìn.~ Stephanie M. Moon, CMC Acting City Clerk SMM:ew l"\CLERK\DATA\CKEW1ioath and leaVing service\Qualifications Council Appointed Officers\qualiflcalion oaths2006.doc COMMONWEALTH OF VIRGINIA ) ) To-wit: ) CITY OF ROANOKE I, Stephanie M. Moon, Acting City Clerk, and as such Acting City Clerk of the City of Roanoke and keeper of the records thereof, do hereby certify that at a regular, meeting of Council which was held on the eighteenth day of September, 2006, WILLIAM M. HACKWORTH was reappointed as City Attorney of the City of Roanoke, for a term of two years commencing October 1, 2006, and ending September 30, 2008. Given under my hand and the Seal of the City of Roanoke this twenty- second day of September, 2006. ~hJ.~ Acting City Clerk L:iCLERK\DATA\C"EW1\oe.lh and leavmg scrvicc\Qual.fications Council A¡::pointed Officers\qualificalion oaths2006.doc Oath or Affirmation of Office Commonwealth of Virginia, City of Roanoke, to-wit: I, William M. Hackworth, do solemnly affirm that I will support the Constitution of the United States of America and the Constitution of the Commonwealth of Virginia, and that I will faithfully and impartially discharge and perform all the duties incumbent upon me as City Attorney of the City of Roanoke, for a term of two years commencing October 1, 2006, and ending September 30, 2008, according to the best of my ability. Subscribed and sworn to before me this _ day of 2006. BRENDA S. HAMILTON, CLERK OF THE CIRCUIT COURT BY , CLERK L·~CLERKiDATA"Cf\EW1ioalh and leaving servicc\Qualiflcatlons Council Appointed Officersiqualificalion oalhs2006.doc CITY OF ROANOKE OFFICE OF THE CITY CLERK 215 Church Avenue, S. W., Room 456 Roanoke, Virginia 24011·1536 Telephone: (540) 853-2541 Fax: (540) 853-1145 E-mail: clerk@roanokeva.gov SHEILA N. HARTMAN Assistant City Clerk STEPHANIE M. MOON, CMC Acting City Clerk September 22, 2006 File #1-1 5-38-83-280 Jesse A. Hall Director of Finance Roanoke, Virginia Dear Mr. Hall: At a regular meeting ·of the Council of the City of Roanoke which was held on Monday, September 18, 2006, you were reappointed as Director of Finance of the City of Roanoke, for a term of two years commencing October 1, 2006, and ending September 30, 2008. Enclosed you will find a Certificate of your reappointment and an Oath or Affirmation of Office which may be administered by the Clerk of the Circuit Court of the City of Roanoke. Please return one copy of the Oath of Office to the undersigned no later than September 30, 2006. Sincerely, ~rn.~~ Stephanie M. Moon, CMC Acting City Clerk SMM:ew L:iCLERI\\QATA\CKEW1\Cö:h and leaving scrvice'.Qualifica!ions Council Appointed Olficcrs\qualillcation oöl!)s2006.doc CITY OF ROANOKE ) ) To-wit: ) COMMONWEALTH OF VIRGINIA . I, Stephanie M. Moon, Acting City Clerk, and as such Acting City Clerk of the City of Roanoke and keeper of the records thereof, do hereby certify that at a regular meeting of Council which was held on the seventh day of September, 2004, JESSE A. HALL was reappointed as Director of Finance of the City of Roanoke, for a term of two years commencing October 1, 2006, and ending September 30, 2008. Given under my hand and the Seal of the City of Roanoke this twenty- second day of September, 2006. ~'vYì.~~ Acting City Clerk l·~CLERi\\DATA\CKEW1;oalh and leaving scrvice\Qualifica!lons CounCil Appointed Officers\qL.:aliflca!lon oa~hs2ù06.dcc Oath or Affirmation of Office Commonwealth of Virginia, City of Roanoke, to-wit: I, Jesse A. Hall, do solemnly swear (or affirm) that I will support the Constitution of the United States of America and the Constitution of the Commonwealth of Virginia, and that I will faithfully and impartially discharge and perform all the duties incumbent upon me as Director of Finance of the City of Roanoke, for a term of two years commencing October 1, 2006, and ending September 30, 2008, according to the best of my ability. Subscribed and sworn to before me this _ day of 2006. BRENDA S. HAMILTON, CLERK OF THE CIRCUIT COURT BY , CLERK L""¡CLERKiDATA\CKEW1\oattl and I~aving service\Qualifications Council Ap;lOinled Officcrs;quéllificaticn oalhs2006.doc oI1[~~.... f!> ~, ., ." ,-" ~I . ;;J..;:. ·ii· ~ ~u CITY OF ROANOKE OFFICE OF THE CITY CLERK 215 Church Avenue, S. W., Room 456 Roanoke, Virginia 24011-1536 Telephone: (540) 853-2541 Fax: (540) 853-1145 E~mail: clerk@roanokeva.gov SHEILA N. HARTMAN Assistant City Clerk STEPHANIE M. MOON, CMC Acting City Clerk September 22, 2006 File #1-1 5-38-83-280 Troy A. Harmon Municipal Auditor Roanoke, Virginia Dear Mr. Harmon: At a regular meeting of the Council of the City of Roanoke which was held on Monday, September 18, 2006, you were reappointed as Municipal Auditor of the City of Roanoke, for a term of two years commencing October 1, 2006, and ending September 30, 2008. Enclosed you will find a Certificate of your reappointment and an Oath or Affirmation of Office which may be administered by the Clerk of the Circuit Court of the City of Roanoke. Please return one copy of the Oath of Office to the undersigned no later than September 30, 2006. Sincerely, , 'rn. mð71YJ Stephanie M. Moon, CMC' I Acting City Clerk SMM:ew L:\CLERK\DATA\CKEW1\oath and leaving service\Qualiflcations Council ApPOinted Officers\qualification oa!hs2006.doc COMMONWEALTH OF VIRGINIA ) ) To-wit: ) CITY OF ROANOKE I, Stephanie M. Moon, Acting City Clerk, and as such Acting City Clerk of the City of Roanoke and keeper of the records thereof, do hereby certify that at a regular meeting of Council which was held on the eighteenth day of September, 2006, TROY A. HARMON was reappointed as Municipal Auditor of the City of Roanoke, for a term of two years commencing October 1, 2006, and ending September 30, 2008. Given under my hand and the Seal of the City of Roanoke this twenty- second day of September, 2006. ~rn.~ Acting City Clerk L:\CLERK\DATA\CKEW1\oat!l and leaving servicc\Qualiflcaticns Council Appointed Officcrsìc;ualificalion oalhs2006.doc Oath or Affirmation of Office Commonwealth of Virginia, City of Roanoke, to-wit: I, Troy A. Harmon, do solemnly affirm that I will support the Constitution of the United States of America and the Constitution of the Commonwealth of Virginia, and that I will faithfully and impartially discharge and perform all the duties incumbent upon me as Municipal Auditor of the City of Roanoke, for a term of two years commencing October 1, 2006, and ending September 30, 2008, according to the best of my ability. Subscribed and sworn to before me this _ day of 2006. BRENDA S. HAMILTON, CLERK OF THE CIRCUIT COURT BY , CLERK L:\CLERK\DA1A\CKEW1\oath and leaving service\Qualiflcations Council Appomled Officers\qualificalion oaths2006.doc CITY OF ROANOKE Office of the City Clerk 215 Church Annue. S. W.. Room 456 Rllanoke. Virginia 24011-1536 Telephlllle: (540) 853-2541 Fax: (540) 853-1145 [-mail: clerk/ª, rmlllok(""a.go\' Stephanie i\1. Moon. C'IC Acting City Clerk Sheila N. lIartman Assistant City Clerk September 21, 2006 The Honorable Mayor and Members of the Roanoke City Council Roanoke, Virginia Dear Mayor Harris and Members of Council: Your attention is called to Section 9, Elections by council, when held, terms, etc., of the Roanoke City Charter which provides, in part, that during the month of September 1974 and during the month of September of the second year thereafter, the Council shall elect a City Clerk, a Director of Finance, a Municipal Auditor and a City Attorney, each of whom shall serve for a term of two years from the first day of October next following the date of their election and until their successor shall have been elected and qualified. Pursuant to the above referenced City Charter provision, the two year terms of the following Council Appointed officers will expire on September 30, 2006: City Clerk Jesse A. Hall, Director of Finance Troy A. Harmon, Municipal Auditor William M. Hackworth, City Attorney A communication from Mary F. Parker, City Clerk, advising of her retirement as City Clerk for the City of Roanoke, effective October 1, 2006, was accepted by City Council at its regular meeting on Monday August 7, 2006. Sincerely yours, ~'rY). Stephanie M. Moon ~ Acting City Clerk SMM:ew CITY OF ROANOKE OFFICE OF THE CITY CLERK STEI'HA~IE M, MOOK. CMe Acting Cily C1~rk 215 Church A venue. S. W., Room 456 Roanoke. Virginia 24011-1536 Telepl,,'ne: (540) X53-2541 Fox: (540) g53-1145 E-T1I3il: c1crk@roanokeva.gov SHEII.A 1\. HART.\1AN. CMC f\~sist3nl CilY Clerk September 12, 2005 File #1 5-11 0-249 Ms. Barbara A. Botkin 616 Marshall Avenue, S. W. Roanoke, Virginia 24016 Dear Ms. Botkin: At a regular meeting of the Council of the City of Roanoke which was held on Monday, September 18, 2006, you were reappointed as a member of the Architectural Review Board, for a term ending October 1,2010. Enclosed you will find a Certificate of your reappointment and an Oath or Affirmation of Office which may be administered by the Clerk of the Circuit Court of the City of Roanoke, located on the third floor of the Roanoke City Courts Facility, 315 Church Avenue, S. W. Please return one copy of the Oath of Office to Room 456 in the Noel C. Taylor Municipal Building, 215 Church Avenue, S. W., prior to serving in the capacity to which you were reappointed. Pursuant to Section 2.2-3702, Code of Virginia (1950), as amended, I am enclosing copy of the Virginia Freedom of Information Act. The Act requires that you be provided with a copy within two weeks of your reappointment and each appointee is required "to read and become familiar with provisions of the Act." &ß~O .~.t,~A',;.. :íìl":' . .." 11II- '-@Æ'" -," - . '@ill CITY OF ROANOKE OFFICE OF THE CITY CLERK 215 Church Avenue. S. W" Room45ó Roanoke. Virginia 24011-153ó Telephone: 1540) 853-2541 Fox: (540) 853-1145 E-nKlil: clerk@roanokt'va.gov SHEILA~, HARTMAN, CMC ^~~i~t~nL City Clerk STEI'HA~IE ~1. ~K)ON, CMC Actin!,! City Clak September 12, 2005 File #1 5-110-249 Ms. Barbara A. Botkin 616 Marshall Avenue, S. W. Roanoke, Virginia 24016 Dear Ms. Botkin: At a regular meeting of the Council of the City of Roanoke which was held on Monday, September 18, 2006, you were reappointed as a member of the Architectural Review Board, for a term ending October 1,2010. Enclosed you will find a Certificate of your reappointment and an Oath or Affirmation of Office which may be administered by the Clerk of the Circuit Court of the City of Roanoke, located on the third floor of the Roanoke City Courts Facility, 315 Church Avenue, S. W, Please return one copy of the Oath of Office to Room 456 in the Noel C. Taylor Municipal Building, 215 Church Avenue, S. W., prior to serving in the capacity to which you were reappointed. Pursuant to Section 2.2-3702, Code of Virginia (1950), as amended, I am enclosing copy of the Virginia Freedom of Information Act. The Act requires that you be provided with a copy within two weeks of your reappointment and each appointee is required "to read and become familiar with provisions of the Act." Ms. Barbara A. Botkin September 20, 2006 Page 2 On behalf of the Mayor and Members of City Council, I would like to express appreciation for your willingness to continue your service to the City of Roanoke as a member of the Architectural Review Board. Sincerely, ~fvJ,~ Stephanie M. Moon, CMC Acting City Clerk SMM:ew Enclosures pc: Martha P. Franklin, Secretary, Architectural Review Board COMMONWEALTH OF VIRGINIA ) ) To-wit: ) CITY OF ROANOKE I, Stephanie M. Moon, Acting City Clerk, and as such Acting City Clerk of the City of Roanoke and keeper of the records thereof, do hereby certify that at a regular meeting of Council which was held on the eighteenth day of September, 2006, BARBARA A. BOTKIN was reappointed as a member of the Architectural Review Board, for another term ending October 1, 2010. Given under my hand and the Seal of the City of Roanoke this twentieth day of September, 2006. CITY OF ROANOKE OFFICE OF THE CITY CLERK STLI'HA:\IE M. \100'1. CMC Acting CilY Clerk 215 Church l\\"t~nlll'. S. \V.. Rnom456 Rl)antlkc. Virginia 24(H 1-15~6 Telc!,I","c: (540) X5.1-1541 f'ax: 1540.) X5.1-1145 E·Il1i.lil: cl('rk<P'n)anokcva.gnv SHEILA N. HAIHMA:\. CMC Assi~lan[ City Clerk September 20, 2006 File #15-110-249 Ms. Lora J. Katz 1833 Belleville Road, S. W. Roanoke, Virginia 24015 Dear Ms. Katz: At a regular meeting of the Council of the City of Roanoke which was held on Monday, September 18, 2006, you were reappointed as a member of the Architectural Review Board, for a term ending October 1, 2010. Enclosed you will find a Certificate of your reappointment and an Oath or Affirmation of Office which may be administered by the Clerk of the Circuit Court of the City of Roanoke, located on the third floor of the Roanoke City Courts Facility, 315 Church Avenue, S. W. Please return one copy of the Oath of Office to Room 456 in the Noel C. Taylor Municipal Building, 215 Church Avenue, S. W., prior to serving in the capacity to which you were reappointed. Pursuant to Section 2.2-3702, Code of Virginia (1950), as amended, I am enclosing copy of the Virginia Freedom of Information Act. The Act requires that you be provided with a copy within two weeks of your reappointment and each appointee is required "to read and become familiar with provisions of the Act." Ms. LoraJ. Katz September 20, 2006 Page 2 On behalf of the Mayor and Members of City Council, I would like to express appreciation for your willingness to continue your service to the City of Roanoke as a member of the Architectural Review Board. Sincerely, ~ 'hJ. t)'\O~ Stephanie M. Moon, CMC I Acting City Clerk SMM:ew Enclosures pc: Martha P. Franklin, Secretary, Architectural Review Board CITY OF ROANOKE ) ) To-wit: ) COMMONWEALTH OF VIRGINIA I, Stephanie M. Moon, Acting City Clerk, and as such Acting City Clerk of the City of Roanoke and keeper of the records thereof, do hereby certify that at a regular meeting of Council which was held on the eighteenth day of September, 2006, LORA J. KATZ was reappointed as a member of the Architectural Review Board, for a another term ending October 1, 2010. Given under my hand and the Seal of the City of Roanoke this twentieth day of September, 2006. ~rn.~ Acting City Clerk ' CITY OF ROANOKE OFFICE OF THE CITY CLERK Sl12I'HA'-i1f' M, ~lnn'J. OK .\l'tillg City Ck'rk 115 Church A \'enue. S. V\1.. Room 45ó Roanoke. Vir~inia 2-WI1-15Jh Telephone: ,:<4111 ,:;3-:!54 1 hl.X: 1:<40185.1-1145 E-mail: L"kr.:(q·r(lalh.lke\'~I.~{\' SHEILA r-;, HARTMA'J. C\le A",~i~I::lIlt Cir)' Clerk September 20, 2006 File #51 The Reverend Castin Mesadieu, Pastor Haitian Sinai Baptist Church 3846 Wilmont Avenue, N. W. Roanoke, Virginia 24017 Dear Reverend Mesadieu: I am enclosing copy of Ordinance No. 37539-091806 to amend §36.2-100, Code of the City of Roanoke (1979), as amended, and the Official Zoning Map, City of Roanoke, dated December 5,2005, as amended, be amended to reflect that Official Tax Map No. 2480115 located at 2905 Cove Road, N.w., be and is hereby rezoned from R-7, Residential Single Family District, to INPUD, Institutional Planned Unit Development District, as set forth in the Second Amended Petition to Rezone filed in the Office of the City Clerk on August 9, 2006. The abovereferenced measure was adopted by the Council of the City of Roanoke at a regular meeting which was held on Monday, September 18, 2006, and is in full force and effect upon its passage. Sincerely, . /Î7.~d1W Stephanie M. Moon, CMC Acting City Clerk SMM:ew Enclosure L:\CLERK\DATA\CKEW1\AGENDA CORRESPONDENCE\agenda correspondence 06\Sepl 06\Sept 18 06 cor.doc The Reverend Castin Mesadieu, Pastor September 20, 2006 Page 2 pc: Mr. and Mrs. Vandel Muse, 3758 Troutland Avenue, N. W., Roanoke, Virginia 24017 Ms. Rebecca C. Hale, 2501 Lakeview Drive, N. W., Roanoke, Virginia 24017 Mr. Tom B. McCarthy, 1713 Coveland Drive, N. W., Roanoke, Virginia 24017 Mr. and Mrs. Michael B. Ferguson, 1725 E. Wyck Circle, Birmingham, Alabama 35215-4327 Westwind Associates, 800 Heathwood Boulevard, Blacksburg, Virginia 24060 Mr. and Mrs. John L. Washington, 2816 Ordway Drive, N. W., Roanoke, Virginia 24017 Ms. Debra M. Pannell, 2820 Aspen Grove Court, Roanoke, Virginia 24017 Blue Ridge Housing Development Corporation, P. O. Box 2868, Roanoke, Virginia 24001 Ms. Esther H. Whitlock, 2813 Aspen Grove Court, Roanoke, Virginia 24017 Ms. Janis A. Wade, 2809 Aspen Grove Court, Roanoke, Virginia 24017 Mr. Stanley L. Aughtry,Jr., 2805 Aspen Grove Court, Roanoke, Virginia 24017 Ms. Nannie E. Taylor, 5205 Lancelot Lane, Apt. #5, Roanoke, Virginia 24017 Mr. and Mrs. Busby J. Trussell, 2840 Cove Road, N. W., Roanoke, Virginia 24017 Trustees of Macedonia Baptist Church, 2754 Brooklyn Drive, N. W., Roanoke, Virginia 24017 Mr. and Mrs. Lynwood English, 2836 Cove Road, N. W., Roanoke, Virginia 24017 Alfred T. Dowe, Sr., President, Fairland Lake Civic League, 2711 Kirkland Drive, N. W., Roanoke, Virginia 24017 Pat Reynolds, President, Villa Heights Crime Prevention Organization, 2628 Clifton Street, N. W., Roanoke, Virginia 24017 Rolanda B. Russell, Assistant City Manager for Community Development Steven J. Talevi, Assistant City Attorney Susan S. Lower, Director, Real Estate Valuation Philip C. Schirmer, City Engineer Martha P. Franklin, Secretary, City Planning Commission L:ICLERKIDATAICKEW1\AGENDA CORRESPONDENCE\agcnda correspondence 061Sepl 061Sepl 18 06 cor.doc /' r·' ~( I ' ~~ ;;'. I c¡tO v q,ll\ IN THE COUKCIL OF THE CITY OF ROAKOKE, VIRGINIA, The 18th day of September, 2006. No. 37539-091806. Al\' ORDINANCE to amend ~36.2-100, Code of the City of Roanoke (J979), as amended, and the Official Zoning Map, City of Roanoke, dated December 5, 2005, as amended. to rezone cel1ain property within the City; and dispensing with the second reading of this ordinance by titk. WHEREAS, Haitian Sinai Baptist Church has made application to the Council of the City of Roanoke, Virginia (""City Council'"), to have the hereinafter described property rezoned from R-7, Residential Single-Family District, to INPUD, Institutional Planned Unit Development District; WJlEREAS, the City Planning Commission, after gl\"lng proper notice to all concerneù as required by §36.2-540, Code of thc City of Roanoke (1979), as amcnded, and after conducting a public hearing on the matter, has made its recommendation to City Council; WHEREAS, a public hearing was held by City Council on such application at its meeting on September 1 S, 2006, after due and timely notice thereof as required by §36.2- 540, Code of the City of Roanoke (1979), as amended, at which hearing all parties in interest and citizens were gIven an opportunity to be heard, both for and against the proposcd rezoning: and Rezoning - Haitian Sinai Baptist Church WHEREAS, this Council, after considering the aforesaid application, the rccom- mendation made to City Council by the Planning Commission, the City's Comprehensive Plan, and the matters presentcd at thc public hearing, finds that thc public necessity, convenicnce, general welfare and good zoning practice, rcquire the rezoning of the subject property, and for those reasons. is of the opinion that thc hereinafìcr described property should bc rezoned as hercin provided. THEREFORE, BE IT ORDAI1\ED by the Council of the City of Roanoke that: I. Section 36.2-100, Code of the City of Roanoke (1979), as amended, and the Official Zoning Map, City of Roanoke, Virginia. dated December 5, 2005. as amended, be amended to reflect that Official Tax Map 1\0.2480115, located at 2905 Cove Road, 1\'.W., be, and is hereby, rezoncd from R-7, Residential Single Family District, to INPUD, Institutional PlanJled t:nit Development District, as set forth in the Second Amended Petition to Rezone filed in the Office ofthc City Clerk on August 9,2006. 2. Pursuant to the provisions of Section 12 of the City Charter, the second reading of this ordinance by title is hereby dispensed with. A TrEST: "ÌY).~ City Clerk. Rezoning - Haitian Sinai Daptist Church ~~·~~;;:¡~I)~:Fi.~~>\ _.- -ilK ,~~ m: ·'1r}f;;'. i ~~I"'~~h:';'~ ."S/ CITY OF ROANOKE PLANNING BUILDING AND DEVELOPMENT 215 Church AVClllll', S.\\'.. Room 161, RmmokC'. \-¡rginia 2-1011 Tdl'l'hone: (5401 H53-IBO Fax: (54(1/85.'-11.'0 E~l11ajl: JllanninJ.!@'t·i.r()anc)kl·.\·~I.lIs \IThill'cILlra] Ht'\"i¡'" Un:ll'd I'll:u'd nl" 1.lIlIi..!.: .\lln-:ll~ 'lallllill! (:lllllllli.~~i"lI September 1 8, 2006 Honorable C. Nelson Harris, Mayor Honorable David B. Trinkle, Vice Mayor Honorable Alfred T. Dowe, Jr., Council Member Honorable Beverly T. Fitzpatrick, Jr., Council Mayor Honorable Sherman P. Lea, Council Member Honorable Gwendolyn W. Mason, Council Member Honorable Brian J. Wishneff, Council Member Dear Mayor Harris and Members of City Council: Subject: Request from the Haitian Sinai Baptist Church represented by Castin Mesadieu, Pastor, that property on Cove Road N.W. bearing Official Tax No. 2480115, currently zoned R-7, Residential Single-Family District, be rezoned to INPUD, Institutional Planned Unit Development District. to allow for a place of worship. Planning Commission Action Planning Commission public hearing was held on Thursday, August 17, 2006. Bya vote of 5-0 (Messrs. Butler and Scholz absent), the Commission recommended that City Council approve the requested rezoning. Background The petitioner owns property (Official Tax No. 2480115) located in the Fairland Neighborhood at 2905 Cove Road, NW., which is zoned R-7, Residential Single-Family District. The owner wishes to rezone the property to INPUD, Institutional Planned Unit Development District to permit the construction of a church facility. There is currently a one and a half story stick built dwelling, manufactured home and associated accessory buildings located on the 5.49 acre property. The development plan calls for the preservation of the dwelling and the construction of a sanctuary, fellowship hall, educational building and associated parking facilities. The construction of the buildings is proposed to occur in three phases and the parking in two. The Petition to Rezone was filed on June 1, 2006. This petition was amended and filed on July 12, 2006 to provide a suitable development plan. A second amended petition 1 was filed on August 9, 2006 to address specific staff comments on the previously submitted development plan. Considerations Surroundinq Zoninq Districts and Land Uses The subject property is located in the Fairland Neighborhood on Cove Road NW., at its intersection with Abbott Street NW., and is currently zoned R-7, Residential Single- Family District. Immediately surrounding zoning and land use is as follows: · R-7, Residential Single-Family District: Single-family residences make up the majority of the surrounding land uses to the south, east and west. All but three parcels are built upon. · RMF, Residential Multi-Family District: Westwinds apartment complex adjoins the property to the north. · IN, Institutional District: Macedonia Baptist Church lies directly across Cove Road from the subject property. · NO, Neighborhood Design Overlay District is located on the opposite side of Cove Road, extending southeast. Compliance with the Zoninq Ordinance Haitian Sinai Baptist Church acquired the subject property in July of 2002. At that time, the property was zoned RS-3 District, which permitted a place of worship as a principle use. However, with the adoption of the current zoning ordinance in December of 2005, a place of worship is no longer permitted. If the property is rezoned to INPUD, Institutional Planned Unit Development District, the church can continue with the planned development of its facilities. As a planned unit development, the property must be developed in accordance the Development Plan prepared by Hughes Associates Architects, dated August 3. 2006, and attached to the petition as Exhibit C, subject to any changes required by the City during the Comprehensive Site Plan review. Compatibilitv with the Citv's Comprehensive and Neiqhborhood Plans Both Vision 2001-2020 and the FairlandNilla Heights Neighborhood Plans encourage new development that promotes the use of the city's neighborhoods as villages where residents can obtain a variety of services in close proximity to their homes. The Fairland Neighborhood has traditionally functioned in this manner with a mix of churches, schools and small commercial centers. The FairlandNilla Heights community also sees churches as an integral component to their neighborhood with many of them offering their facilities for community meetings and activities. 2 The FairlandNilla Heights Neighborhood Plan identifies Cove Road NW. as one of four main thoroughfares through the neighborhoods. There is a concern over traffic safety on this street which has seen a steady increase in traffic over the years due to new development. However, Cove Road NW. should not see additional impact during peak traffic times due to primary services being held on weekends and evenings. Additionally, the City Traffic Engineer has required that the church's entrance align with Abbott Street NW. and that the petitioner evaluate the need for a right turn lane or taper at the entrance in accordance with Virginia Department of Transportation requirements to allow for better vehicular flow. The plan identified future land use of the subject property as single-family residential. The future land use along Cove Road NW. is primarily single and two-family residential with scattered institutional uses. The following policies from the Vision 2001-2020 Comprehensive Plan and the FairlandNilla Heights Neighborhood Plan are relevant in the consideration of the current petition. . Vision 2001-2020: o NH P2: Neighborhoods as villages. Neighborhoods will function as villages, offering opportunities to live, work, shop and play and interact in a neighborhood setting. o IN P4: Parking. Roanoke will encourage on-street parking wherever possible and discourage excessive surface parking lots. Maximum parking standards for development outside of downtown will be established. Off-street parking will be encouraged to the side and rear of building. . FairlandNilla Heights Neighborhood Plan: o Community Design: Roanoke will encourage development of Fairland and Villa Heights as a mixed traditional and suburban neighborhood model prescribed by Vision 2001-2020. Compatibility between diverse uses will be encouraged through quality design. o Community Design: New development should enhance and contribute to the neighborhoods long-term viability. o Community Design: Roanoke will encourage the Fairland and Villa Heights neighborhoods to be mixed-use urban neighborhoods with opportunities for housing, employment, and services for all ages, races and incomes. o Infrastructure: Plant species of street trees that enhance the historic character of the neighborhood such as oaks and maples. o Quality of Life: The tree canopy should be maintained and increased throughout the neighborhood. o Quality of Life: Encourage neighborhood churches to coordinate efforts to improve the quality and range of outreach services. 3 Many design principles specified in the Vision 2001-2020 Comprehensive Plan are relevant in the consideration of the current petition. The development plan includes the following design principles: · Street trees will be provided along Cove Road N.W. in accordance with the Zoning Ordinance to create a canopy adjacent to the roadway. · Trees will be provided in the parking area as required by the Zoning Ordinance. This should create an adequate canopy within the site. · Off-street parking will be located to the side of the building. · A sidewalk will be provided from the principle building to the street giving pedestrians access to the surrounding neighborhoods and village center. Currently, only the southern side of Cove Road N.W. has a complete sidewalk system. · The proposed building provides for a deeper setback from the street in accordance with design principles for institutional buildings. · The sanctuary's front and entrance face the street. · The buildings will be single-story and their mass is broken into three main components. Planning Commission Discussion The proposed church and related development were discussed, primarily relative to the location of the building, sidewalk access and tree canopy as follows: The Planning Commission asked about the statement regarding a deeper setback for institutional buildings, noting that many neighborhood churches are located close to the street and are contributing structures in the neighborhood. Staff confirmed that the statement was intended to show that there is justification for a deeper setback compared to adjacent properties, as proposed by the petitioner, given that the development proposed was related to the expansion of an existing building. The Planning Commission asked if staff considered requiring a sidewalk along the entire Cove Road right-of-way adjacent to the property. Staff responded that the petitioner is not required to provide any sidewalks from a development to or along the right-of-way in an INPUD, Institutional Planned Unit Development. However, staff believed that a sidewalk from the church to the right-of-way that allowed pedestrian access to the sidewalk on the opposite side of Cove Road was appropriate for the neighborhood setting. The Planning Commission asked if staff considered requiring trees along the driveway into the church facility to provide additional tree canopy as noted as a goal of the comprehensive plan. Staff responded that the petitioner was providing street trees and parking lot landscaping as required by the zoning ordinance but that there is no requirement for tree canopy over a driveway in the ordinance. The Planning Commission asked the representative of the petitioner 4 if he would be willing to revise the development plan to include additional trees along the driveway and to submit an amended petition containing the revised plan. The representative declined to revise the plan and submit a revised petition based on the cost involved. Recommendation By a vote of 5-0, the Planning Commission recommends that City Council approve the requested rezoning. The Commission finds that the petition to rezone the subject property from R-7, Mixed Density Residential District to INPUD, Institutional Planned Unit Development District, is a reasonable request and provides for practical use of the property consistent with the general mixture of uses along Cove Road N.W. Respectfully submitted, 1{~~ a..<{~":f- Richard A. Rife, Chairman Roanoke City Planning Commission cc: Darlene L. Burcham, City Manager Rolanda Russell, Assistant City Manager for Community Development William M. Hackworth, City Attorney Castin Mesadieu (Pastor), Haitian Sinai Baptist Church. Petitioner 5 . . SECOND AMENDED PETITION TO REZONE IN THE COUNCIL OF THE CITY OF ROANOKE, VIRGINIA INRi::: R~zoning of a tract of land contains 5.49 acrcs, locat~d at 2905 COV~ Rd. Tax numh~r 2480115- R-7 R~sidential Singlc Family District. TO THE HONORABLE MA YOR AND MEMBERS OF THE COUNCIL OF THE CITY OF ROANOKE: The Petitioner. Haitian Sinai Baptist Church (lwns land in the city of Roanoke containing 5.49 acres mor~ or Iess.1ocatcd at 2905 C(lVC Road, NW Tax Number 2480115-R-7 Rcsidcntia1 Single Family District. ^ map of the property to he r~zon~d is attachcd as Exhibit A. Pursuant t(l Section 36.2-540, Codc ofthc City of Roanok~ (I (79), as amended, the I'etition~r requ~sts that the said property be rezoned from R-7, Residential Singl~-Family District. to 1NPIJD, Institutional Planned Unit D~vdopment District for thc purpos~ of building a church. In 2002 when wc purchased thc property it was zoned RS-3, Residential Singl~ Family District. which allowed operation and future construction of a church by right at this location. Last Decem her. the city was r~zoncd and thc property hecame R-7, Residential Sing1~ Family District. We ar~ requesting that the property be rezoncd to INPUD, Institutional Planned Unit Dewlopment District which would allow for church construction. The petitioner believes the rezoning of the said tract of land will further thc intcnt and purposes of the City's Zoning Ordinance and its comprehensive plan, in that it will allow cxpansion of an existing church. Attaehcd as exhihit 13. are names, addresscs and tax numbers of the owner or own~rs ol'all lots or property immediately adjacent to and immediately across a strect or road from the propcrty to be r~z()ned. Exhibit C contains a site plan showing thc proposed developmcnt of . . the property. Exhihit D is a signed petition from sewral adjacent property owners supporting the proposed rezoning. WHEREfORE. thc petitioner requests that the abovc-described tract be rezoned as requested in accordanl'c with the provisions of the Zoning Ordinance of thc City of Roanoke. Respectfully submittcd this 4th day of August 2006 Castin Mesadieu (Pastor) 3846 Wi1mont Ave. Roanoke. Virginia 24017 Home # (540) 343-9436 Cell # (540) 819-6303 Trustet:s Aramy St.Fleur Marie Lapierre Andæt: J. Mcsadieu Fresnel Joseph Winstin Mesadieu Gt:snel Saintmelus . Rt:spectfully submiUt:d. By: Haitian Sinai Baotist Church Owner " " '1./': ....: .d,,'" j.':r.i'!o":,.J>~:'·-l·/(: ~-\... .f' .~ p, ._1..... . ~ J' -.:.: .""= . ,;;f;/ "ì ....-;.. .-::...../ S.(~~· . ~ Je·¡£fJi//.r;:·6&.r/,"-:r>jf' \ .,' ...~ 1\ , , ',- --=--.~ , : ,- ...r ;'.'"1,<'"¿:' ! .' .. . ':::.-L' }' / }, .. ' V,-" W""';:; /Vi ~'" c......-.... ;. ~ ¿~~~t "? ,/ ,t_ -...---11.....-.· . I:.. '.- - t' :-- Cj¡-y of Roanoke - GIS . ,.:-~.- .7 J, . , ;/""C' ,'".u ~- 17- . Page 1 of3 Print Report I Close Window Property Information Card for: TRS HAITIAN SINAI BAPTIST CHURCH 2905 COVE RD NW ROANOKE VA 24017 BUILDING PERMITS View Pennits & Code Enforcement Notices MAPS & PLANS '!l.;w Enoineerino MaDS &' Plans Images ~::í'g;;;¡<~"J,.-~ 'b,.~-~.J7 - (h~"'}~'Z'~~;~:-~~ ~-~ riJi{k~~t¡¡:;f.(' - I..:' ".-",~'~~;!3.J.~ >-'-''''~ '1~';'~,: ~)<:(·~,~tJ.}t~-~- ",- '-. "l.,:'} i; ;- Sketches S~~tch i OWNER/LEGAL INFORMATION T ax Number Property Address Legal Description Owner Name Owner 2 Name Owner Address 2480115 2905 COVE RD NW LOT 1 COVE ROAD TRS HAITIAN SINAI BAPTIST CHURCH NfA 2905 COVE RD NW ROANOKE VA 24017 510 0,0??oo 200-SingIeFamily Neighborhood Number Census Tract Property Use "",..nn,11r 0._...._1":'__1._ r"'1C' nA/10I"ltìn¡:. . 5..x A_I:;' I '- Pe Official Tax No.! N arne of Propert)· Owner Mailing Address 1 Street Address 2480153 Vandel S.and Dollie K.Muse 3758 TroutlandAve. N.W. Cove Rd.,N.W. Roanoke,Va.24017 2480155x Rebecca C. Hale 2501 Lakeview Dr. NW Covel and Dr.,N.W. Roanoke,V A 24017 2480162 Tom B. McCanhy 1713 Coveland Dr CoveJand Dr., N.W. Roanoke, V A 24017 2480147 Tom B. McCarthy 1725 East 1713 Coveland Dr., N.W. Binningham, AL 35215 2480159 Weslwind Associates 800 H eathwood Bv 3001 Coveland Dr., N.W. Blacksburg, V A 24060 2480161 Westwind Associates 800 Heathwood Bv 3069 Ordway Rd.,NW Blacksburg, V A 24060 2470123 John L & Shirley A. Washington 28]6 Ordway Rd.,NW 28]6 Ordway Rd.,NW Roanoke, V A 240 J 7 2470130 Debra M. Pannell 2820 Aspen Grove Ct. 2820 Asper Grove Cl. Roanoke,VA 24019 2470129 Blue Ridge Housing P.O. Box 2868 Aspen Grove Ct.,NW Roanoke,V A 2400 I . _2410 1 2JL _._. -"_.-.. ....- . E£1.ber H):ltQn_\1.'hillock.. ._,-'- _28.aAsp.en.Gm.'>1.e.Cl._... . .- 1-. 28 3 Aspen Grm'e CI.,NW Roanoke,V A 24017 2470127 Janis A. Wade 2809 Aspen Ct.,NW 2809 Aspen Grove Ct.,NW Roanoke. V A 24017 2470126 Stanley L. Aughlf)', JR. 2805 Aspen Ct. NW 2805 Aspen Ct. NW Roanoke,V A 24017 2460205 Nannie E. Taylor 5205 Lancclot LN #5 2846 Cove Rd. NW Roanoke,V A 24019 2460238 Busby J. & Shirley L. 2840 Cove Rd.,NW 2840 Cove Rd..N W Trussell Roanoke,V A 24017 , 2460204 Trustees of Macedonia 2754 Booklyn Dr.NW I : 2910 Cove Rd.NW Baptist Church Roanoke.V A 24017 " '~ 1 ::1,.:' ~~~;::: -¡.....- ~-f"~ ºg~ -".r:'~ ::c~~ .< . . .~ ~.< .' :~~~,: :( . ':~{" /, ........ " '. '1...' .. <~:.:. , '..".~'." -. ' . . ..'..... ~;. ~.--...~ .-- - \.': " I:,. U .:' i, ,~~~. ( ,::'1': ""." "" ~ .:. " "I," i ~ :- .j::'¡i·;; ':; ~, . ", .'~ . ~,. : .~. ".:".... i~' "',. ': li". .r.",", ;( ",- .;;" ,~~'.: .::" , -. .t:..·~,·, ".. ...,.~" ~f'.~':~'$~:: .",: (..,~~. - ..-;/.. ~"...;:'-> " .' <'. ,'.... '-', ,.:". ','. .~," ....-:....." ~: ". ~ . ....".. .... ," ~'. :' ,··'·,·~f'~:",l~,.,.,(,.i.~,~.'," ',~::2¿.~::,i.'~~~",":.~.>·Z::~~,:,.~.~,':."'~"""" \,'", ,..' f"',5,v -" ,;-- .-- - "í'[ ".:~~ ~ ~;~~'i :.;;:,j~;;'if~?':.:>~;:~.:~~;:: <~~<:~::~!: ~~~~4,. .:.'- '"" .." :(oj.:. ';~-:'.'-' ,"'. --:,".: ~~~....:~}. ~~;"~"(.~~ ';:~<~~ : " e:(" " '>'~~'!.,... ":'" "'\' '. ".-.." .. '~."~;i.i~\.. ;·:;:'~t'> ....' "~"". ;~ ;~¡ % ",« " .~,::...¡¡.",\ t'; ,·.<:~i:~1;f\~', ,," ·,':--''',:t) ¡ -,./ "'" :' U'../",: ,.....~_ '. "- ":~i '. \:-':/~~C~\~~>'" ~~ "'~Y.,d.>.:," ~~" ,/ ~ "'. ': '. '-'. L/ . .......I'S.,..I.'·;¡·,.c.-.....c:..-.. M" :::::...c:~;;¡.'O-:: ç~::- if ,:i n H?"'I'1H? .J..SI.J..d"''"'' I"'NIS N'o'I.J..I'o'H ~O= ~NINC=;¡~ .", z~ z~ § I~! liii'l L - :,:; ~ ! ~¡ ¡ " ç Q /'" ~':~::. ". ~'~:.~ '..' ~!! .. .~~<~~~ .. .:~, r,;' " ,\ '. ¡: , " '. '~'\"~,,,,.. ...... ....... " '" ~~ 'c ~~ ~ ,,~ ~~ ¡;~ I~ ,." '. (~' ~, ,~, .' '" ";-' . ~ ~ ,:. ~ '~r- i,! '<":,, ~ ". ...,. ;,;; :¡ .". ,-,:; " "1" ~ ~ : ~ :: ~ I '. ~, '^ . . '~ ~ ~ ~ I; " ~. :'. .,'" '. ji" iIIL;! ,c' ,; '.."':;' ¡ ---:=::-==.::_-~ i· ~ ". ~: ~ 11.'1 ~ ; ~ ~ '. :." .~. ~'i '. ~. ~ :,¡.': ~ , .... :; E1 ~m ~ ~ fu -.I:~J ~(= C: (=.1 -' <I:: ;;.. (J) ... ;=.:a -- -- , ,'í, :r:: Cl.. "'" 0:-: === " .!:: . « <bX' h. I -b . .:!) HAITIAN SINAI BAPTIST CHURCH 2905 Cove Road Roanoke VA 24017 (540) 563-1817 Castin Mesadieu, Pastor Dear neighbor: We are pleased to inform you that we have the intention to have a church built in this community. As our neighbor, one of the steps that we have to take is to get your agrcementlO that matter. Please help us fill this petition to this regard. We thank you for your time and your consideration. '1 ' Nam~]dcn.-- 1Ü:£.{U¡..Lfi-L____ 2'8Lj() C} ¿~ ú!d Address: __n____n____________________________ ------:-/-3 _m~__~~_c_u____, ;Uí- '-<,~L:'"_2cL:.tç:zc________~_____~~<;:_[____ PH ONE: _n__________n_______________________ ,- / YES I AGREE---'-------- NO, I DON'T AGREE-------------- Nam5:-\ (Jj{lj_::#~L~Op10 ' ~:--T~..s &f'J! f) . J. (', AI/O AdQboess:--J-:t.L-..;----------C"~~~--------~ /' ,) I {A'- L jj J /, I r' '",-- . i..~ 1;7~ lr:.k-l-Ll.. í'::" _I '"1(.-'[ .... P--H--OT7~w..---·-..ëËT:;;n~; ¡ 7:.¥--¡-"-g0"3 NE: _____~__~.J.:.....__u..::. ""'l ~__ __________ (../ YES I AGREE---m------ NO, I DON'T AGREE-------------- ¡I,' / . '~œ 'vI" ,:,: ./-/,,; ,i N ·&/~7\.-LI....(///~.. 'anlc·-I--, ~----- --------"-------~--------- .:;;r _ /1"-:: ") :-'-/' '.. .¿:. /' Add ../ ':-, ..., '-->c ,: ¿.. C: / (,' ress:--~-~---~-----------------~---------- f: . :~. ; //. ,¡ ., .," ¡J"'...... ¿; l ¿: :,.' /I,: 1',.. : ......... _~~_~__:_:_____:___:____~:;t____,.¿:l_~~_~__;_____ PI~O~:-------------------------------------- -,,-' m-¥ES-I-A-GREE---k:':::=--- ",. ____u___ _ H --- NO, I DON'T AGREE-------------- , ,,--- N -C- ^' j'\ J L. l"J ¡"" ,-\C , aI11e: ------~..¡,.:--...:------------~-~-------- ) (' .-... ,...-, M"" Address:-~2£:-LL:h,:;&LLt..c[D-"'(¿ I.... I ________~-":~-(l~1~~----~~~!::--------- J'11()~:------------~----------------- YES I AGREE------------ NO, I DON'T AGREE-------------- NauJ1e:---------------------------------------- Address: _____________________n_______________ <' /""' 4 ':.' /. '::;... J'11()~:--.L·--·--------------'--------------- YES I AGREE--j,¿:"-n-- NO, I DON'T AGREE-------------- . '4 N.m.ilixJ!ßoe r fl' ------------------ '} '"\,. ." ex. . (,. . ¡ 'IJ/'] ~s:----~--- - -~~cLÇQ!lt-'- __~X5j]¡).t\e Vir :1l0/ Î PHONE:----J.~3:~Q.II~------------c--- -----.---------- YES, I AGREE----~ NO, I DON'T AGREE-------------- ~8I1le:---------------------------------------- Address:--------------- ' ----------------------- i;~~~I;:~~~~~~~~~~~~~~~~~--------------------- --------------------- YES, I AGREE----------- NO, I DON'T AGREE-------------- ~ 8 me: -------------=-=----~~-~~-~~~=~-~~~~-~- Address: ---------------- ---------------------- ;;~~~I;:~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ YES, I AGREE------------ NO, I DON'T AGREE-------------- ~ ~:--------------- ------------------------- Address:-------------- - - ---------------------- --------------------------------------------- PH ONE:--------------- ----------------------- YES J A GREE------------ NO, J DON'T AGREE-------------- . N 8I1le:------------- -------- --------------------------- Address:----------- --------------------------- ;~()~;~~~~=:~~~~~~~~------------------------ ------------------------ YES, I AGREE------------ NO, I DON'T AGREE-------------- N 8I1le:--------------- - --------------------....--- Address:------------ -------------------------- ;~~~~-------------------------------------- .-------------------------------------- YES, I AGREE------------ NO, I DON'T AGREE-------------- -_.-- -~:-~.....---...!""....._-......-_"":---_..---"'-"'--.--..,-..............._---..,-.---~-- Address: ------------ -------------------------- ;:~~~~~~~~~~~~~~---------------------------- ---------------------------- YES, I AGREE------------ NO, I DON'T AGREE------ . ------- N a l1le :--------------- ------------------------- Address:------------ -------------------------- ;~~~~~~------------------------------------- . ------------------------------------- YES I AGREE---------- NO, I DON'T AGREE------------ " . . . ~ ~ ':'""':ij~~¿;. . ,.. _:c;-~ .~. ~ ", 2905 Cove Road, N.W. Tax Map No. 2480115 c;.,ò '¡'he Roanoke Times Roanoke, VirgtniR Affidavit of P~biication The Roa~oke T~mes I· r1ARY F. PAR,:RR CITY OF ROANOKE CLERK'S OFFICE ~15 CHJRCH AVE SW RM 456 NORL C. TAYLOP MUNICIPAL BLDG. ROANOKE VA 24011 REFERENCE: 321~330~ 9836353 NOTICE OF PUBLIC HEARING NOTICEOFPUBLICHEARIN The Council 01 the Clh of Roanoke wfff hold a pu'bUc hearin~ on Monda}", Sc-ptcmber 18, 2006. al 7:00 p.m.: or as soon therealterasthema.lterma.v be hc-.:Hd. in the CouncJI Chamber. fourth floor. in th~ No~1 C. Ta~lor Municipal Building. 215 Church I Avenue. S.W.. Roanoke. I Virginia. to tonsid~r th~ follo:.,,·ing: Request from H,liHan Sinai Baptist Church. repr~s~nted byC.:Istin Mes<ldi('u. Pastor. that propert)' located at 2905 Cllli!:! Road. N.W.. bearlngOfflcial Tax No. 2480115. be rezoned from R·7, Residential Single Family District. to INPLD. Institutional Planned Unit I' Development Dlslrict, to allow fOr llllpíJnsion of an e.\istingthurch. A copy of the ,lm~nded petition IS availllble for I review In the Office of the City Clerk. Room 456. Noel ¡C. Taylor Municipal Building, ,215 Church Avenue. S.W.. . Roanoke. Virginia. .AII parties in interest and citizens may appear on the abovc-dateandbche<Jrdon ¡the mailer. If you are él IPcrsonw,th<ldiS.:lbilitYY<hO, needs accommodations for . ¡this hearing. pl!:!ase çontaet . I·the Cily Clerk s Office. at 853-2541. before noon on thl:' Thursdav before the date otheheminglistt!d aboYI!. IGIVEN under my h.:lnd this : 30th day of August. 2006. I Mary F. Park~r. City Clt:'rk. I :983~~?}\ ..'.." S~ate of Virginia C it·.·· 0 f Roanoke I, (the undersigned) an authorized rep:!:'"esel:tative of ~hc Times-World Corporation, which corporation is publisher of the Roanoke Times, a daily newspaper published in Roanoke, in the State of Virginia, do certify that the annexed notice was published in said newspapers on the following dates, City/County of Roanoke, Commonwealth/State of Virg~J1ia. Sworn and subscribed before rr:e this j_~~...day of September 2006. Nitness:ny hand ar~~Ci~seal. M;l~~~l1L PUBII5H~~ ON, 09/01 09/08 TOTAL COST: FILED ON, 320.16 09/13/06 Authori:::.ed Signature: Billi.ng Services Represen:ative £:"~ :~ ,-, r- IT' 2$! .-~. .-::-.7:, cf, (,.1") rn ""T.:I ,-. .1.:::.. l' "" ~~ nJ & en S~'r , , .' l'\OTICE OF PUBLIC HF.;\IHl'\G The Council of the City of Roanoke will hold a public hearing on Monday, September IS, 20(¡<í, at 7:00 p.m.. or as soon thereafter as the matter may be heard. in the Council Chamber, ¡,)tllth 1100r, in the I\od C. Taylor 1\1unicipal Building, 215 Church Avenue, S.W., Roanoke, Virginia, to consider the following: Rcquest from Haitian Sinai Baptist Church, represented by Castin Mesadieu, Pastor. that property located at 2905 Cove Road, I\.W., bearing Official Tax 1\0. 2480 ¡ 15, be rezoned from R-7, Residential Single Family District, to II\PUD. Institutional Planned Unit Devdopment District, to allow rÒr expansion of an existing church. ;\ copy of the amended pdition is available lor review in the Oflicc orthe City Clerk, Room 456, Noel C. Taylor !\lunicipall3uilding, 215 Church Avenue. S.W.. Roanoke, Virginia. All parties in interest and citizens may appear on the above date and be heard on the matter. IfYllll arc a person with a disability who needs accommodations ¡or this hearing. please contact the City Clerk's Oftì"e, at 853-2541. before noon on the Thursday before the date ortlle hearing listed abo\'e. G1VE:-J under my hand this 30tlday Or.ål1Kust .2006. Mary F. Parker, City Clerk. f:S(¡Tllr:~.II·\III.\t."I'\.\IIl.\I'I!"rl"lIl.lI.l11.--;fIlWL.:_Jl:J::/II';[,JI{¡{" )\iotice to Publisher: Publish in the Roanoke Timcs onee on Friday, September L 2006 and September 8,2006. Scnd affidavit to: Mmy F. Parker. City Clerk 215 Church Avenue, S. W. Roanoke, Virginia 24011 (540) 853-2541 Send bill to: Castin Mesadieu. Pastor Hatian Sinai Baptist Church 2905 Cove Road, N.W. Roanoke, Virginia 24017 (540) 343-9436 or (540) 819-6303 CITY OF ROANOKE OFFICE OF THE CITY CLERK 215 Church Avenue. s.w.. Room 45ó Rl)'U1oke. Virginia 24011-1536 Tekrhone: I)-H). ~:'i~-::!5·~] Fax: \5~nl 853-1]45 l:-I~lail: d~r"li"..;i.nl:'lllllkc.\·[l.U~ STEPHA rilE \1. \lOor>. ole DeplH) Cit~; Clerk September 5, 2006 File #51 smm.A r>. HARTMAN A..;,!'-i;'<l{¡ml City Clerk The Reverend Castin Mesadieu, Pastor Haitian Sinai Baptist Church 3846 Wilmont Avenue, N. W. Roanoke, Virginia 24017 Dear Reverend Mesadieu: Pursuant to provisions of Resolution No.2 5 523 adopted by the Council ofthe City of Roanoke on Monday, April 6, 1981, I have advertised a public hearing for Monday, September 18, 2006, at 7:00 p.m., or as soon thereafter as the matter may be heard, in the City Council Chamber, Room 450, Noel C. Taylor Municipal Building, 215 Church Avenue, S. W., City of Roanoke, on the request of Haitian Sinai Baptist Church that property located at 2905 Cove Road, N. W., identified as Official Tax No. 2480115, be rezoned from R-7, Residential Single Family District, to INPUD, Institutional Planned Unit Development District, to allow for a place to worship. For your information, I am enclosing copy of a report of the City Planning Commission and a notice of public hearing. Please review the documents and if you have questions, you may contact Steven J. Talevi, Assistant City Attorney, at 540-853-2431. Questions with regard to the City Planning Commission report should be directed to the Department of Planning, Building and Economic Development at 540-853-1730. It will be necessary for you, or your representative, to be present at the September 18 public hearing. Failure to appear could result in a deferral of the matter until a later date. Sincerely, '. . ~.h\01h-J Stephanie M. Moon, ~~~ Deputy City Clerk SMM:ew Enclosure I .:\CLERK\DA T A\CK.I::WI \Pubhl.: Hcarings\Public Hearings 2006\SEP 06'Atlomcys and Adjoining Property O\\11t'TS Sep.doc CITY OF ROANOKE OFFICE OF THE CITY CLER K :!15 Church A\'CIlUL:. S.W.. RIl()Jl} 456 Rl);mokc. Virg:iuia 2.+0 11-1530 'It"kl.lh\lIll..': I ~-l-\I :;.':;3-:!.:'~! fa\: L'i·!t)¡ :-\53-11·1:' r.-maiJ. ;:k¡j.. If. cl.r",~I1II~:I..'. \ ...L1:o. STEPHY\IF 1\.1. MOO:S. C\IC r.lt'pu:y City Ct~r" September 5, 2006 File #51 Mr. and Mrs. Vandel Muse Ms. Rebecca C. Hale Mr. Tom McCarthy Mr. and Mrs. Michael B. Ferguson Westwind I and II Associates Mr. and Mrs. Busby Trussell Mr. and Mrs. Lynwood English Mr. Alfred T. Dowe, Sr., President Fairland Lake Civic League Ladies and Gentlemen: SIIFlI.A :\. H.·\H.'nlA~ :\."iSl.lI"Ii CIlY Ckrk Blue Ridge Housing Development Corporation Ms. Esther H. Whitlock Ms. Janis A. Wade Mr. Stanley L. Aughtry, Jr. Ms. Nannie Taylor Mr. and Mrs. John Washington Ms. Debra Pannell Ms. Pat Reynolds, President Villa Heights Crime Prevention Organization Pursuant to provisions of Resolution No. 25523 adopted by the Council of the City of Roanoke on Monday, April 6, 1981, I have advertised a public hearing for Monday, September 18, 2006, at 7:00 p.m., or as soon thereafter as the matter may be heard, in the City Council Chamber, Room 450, Noel C. Taylor Municipal Building, 215 Church Avenue, S. W., City of Roanoke, on the request of Haitian Sinai Baptist Church, represented by The Reverend Castin Mesadieu, Pastor, that property located at 2905 Cove Road, N. W., identified as Official Tax No. 248011 5, be rezoned from R-7, Residential Single Family District, to INPUD, Institutional Planned Unit Development District, to allow for a place to worship. This letter is provided for your information as an interested property owner and/or -adjoining -property owner. -If you have questions with-regard -to-the matter, please call the Department of Planning, Building and Economic Development at 540-853-1730. If you would like to receive a copy of the report of the City Planning Commission, please call the City Clerk's Office at 540-853-2541. MFP:ew Sincerely, ~ fY). fYJ r»,v Stephanie M. Moon, CMcl Deputy City Clerk L\CLEIU\\DAIA \('KFWl \Pu¡"'hc Ht'uringsWuh,lil..' Hearings 2Ú06\SEP 06\Aut1mc)'s and Adjoining Properly OWilers Scp.doc TO THE CITY CLERK OF THE CITY OF ROANOKE, VIRGINIA PERTAINING TO THE REZONING REQUEST OF: Haitian Sinai Baptist Church at 2905 Cove Road, NW., Tax No. 2480115, from R-7 to INPUD ) )AFFIDAVIT COMMONWEALTH OF VIRGINIA ) ) TO-WIT: ) CITY OF ROANOKE The affiant, Martha Pace Franklin, first being duly sworn, states that she is Secretary to the Roanoke City Planning Commission, and as such is competent to make this affidavit of her own personal knowledge. Affidavit states that, pursuant to the provisions of Section 15.2-2204, Code of Virginia, (1950), as amended, on behalf of the Planning Commission of the City of Roanoke, she has sent by first-class mail on the 21st day of July, 2006, notices of a public hearing to be held on the 17th day of August, 2006, on the request captioned above to the owner or agent of the parcels listed below: Tax No. Propertv Owner Owner's Address 2480153 Vandel and Dollie Muse 3758 Troutland Avenue, NW Roanoke, VA 24017 2480115X Rebecca C. Hale 2501 Lakeview Drive, NW Roanoke,VA 24017 2480162 Tom McCarthy 1713 Coveland Drive Roanoke,VA 24107 2480147 Tom B. McCarthy Michael B. Ferguson Judy Lynn Ferguson 1725 E. Wyck Circle Birmingham, AL 35215 2480159 Westwind I Associates 2480161 Westwind II Associates 800 Heathwood Blvd. Blacksburg, VA 24060 2470123 John and Shirley Washington 2816 Ordway Drive, NW Roanoke, VA 24107 2470130 Debra Pannell 2820 Aspen Grove Court Roanoke, VA 24017 2470129 Blue Ridge Housing POBox 2868 Roanoke, VA 24001 2470128 Esther Hylton Whitlock 2813 Aspen Grove Court Roanoke,VA 24017 2470127 Janis A. Wade 2809 Aspen Grove Court Roanoke, VA 24017 2470126 Stanley L. Aughtry, Jr. , 2805 Aspen Grove Court Roanoke, VA 24017 2460205 Nannie Taylor 5205 Lancelot Ln. #5 Roanoke,VA 24017 2460238 Busby and Shirley Trussell 2840 Cove Road, NW Roanoke, VA 24017 2460204 Petitioner 240239 Lynwood and Joyce English 2836 Cove Road Roanoke, VA 24107 Also mailed to: Alfred Dowe, President Fairland Lake Civic League 2711 Kirkland Drive, NW Roanoke, VA 24017 Pat Reynolds, President Villa Heights Crime Prevention Organization 2628 Clifton Street, NW Roanoke,VA 24017 -Th~'^--I(µL iJy~ Martha Pace Franklin SUBSCRIBED AND SWORN to before me, a Notary Public, in the City of Roanoke, Virginia, this 21st day of July, 2006. ~ ~a0~~ My Commission Expires: c:? - d g --ò /) ~- ,oh. ~ " NOTICE OF PUBLIC HEARING BEFORE THE CITY OF ROANOKE PLANNING COMMISSION TO WHOM IT MAY CONCERN: The City of Roanoke Planning Commission will hold a public hearing on Thursday, August 17, 2006, at 1 :30 p.m., or as soon as the matter may be heard, in the City Council Chamber, fourth floor, Noel C. Taylor Municipal Building, 215 Church Avenue, S.W., Roanoke, Virginia, to consider the following: Request from Haitian Sinai Baptist Church, represented by Castin Mesadieu, Pastor, that property located at 2905 Cove Road, NW., bearing Official Tax No. 2480115, be rezoned from R-7, Residential Single Family District, to INPUD, Institutional Planned Unit Development District to allow for expansion of an existing church. A copy of the petition is available for review in the Department of Planning Building and Economic Development, Room 166, Noel C. Taylor Municipal Building. All parties in interest and citizens may appear on the above date and be heard on the matter. If you are a person with a disability who needs accommodations for this hearing, please contact the Department of Planning Building and Economic Development at 853-1730 before 12:00 noon on the Tuesday before the date of the hearing listed above. Martha P. Franklin, Seçretary City Planning Commission - Please print in newspaper on Tuesday, August 1 and 8, 2006 Please bill: Castin Mesadieu, Pastor Haitian Sinai Baptist Church 3845 Wilmont Avenue, NW. Roanoke, VA 24017 (540) 343-9436 or 819-6303 Please send affidavit of publication to: Martha Franklin Planning Building and Economic Development Room 166, Noel C. Taylor Municipal Building 215 Church Avenue, SW. Roanoke, VA 24011 (540) 853-1730 CITY OF ROANOKE OFFICE OF THE CITY CLERK 'S' \ ~~'). . .";: } <~\ '1:/ «~~/ :\1.\RY f. PARKER. C\.IC City Ckr~. :! l:'i Church Avenue. S.\V.. Room 456 }{oanc.kc. Virginia ::!4011-1536 TL'kpJwnl": i5·H")) ~S:;-~:'i-tl Fax: 1:'..10) fiS~-11·1S [-III:ll]. ~·kd.(:'" ~i.rll;J1~(l"c.:.\'a.t:~ STEI'IlM\IE \1. 'IOO:'\'. C\.fC f.kPUI) C¡ly CIerI.: September 5, 2006 File #51 Mr. and Mrs. Vandel Muse Ms. Rebecca C. Hale Mr. Tom McCarthy Mr. and Mrs. Michael B. Ferguson Westwind I and II Associates Mr. and Mrs. Busby Trussell Mr. and Mrs. Lynwood English Mr. Alfred T. Dowe, Sr., President Fairland Lake Civic League Ladies and Gentlemen: SIIEILA 'l. HARHIAl> :\.,~i~l:l!ll (,il~ Clerk Blue Ridge Housing Development Corporation Ms. Esther H. Whitlock Ms. Janis A. Wade Mr. Stanley L. Aughtry, Jr. Ms. Nannie Taylor Mr. and Mrs. John Washington Ms. Debra Pannell . Ms. Pat Reynolds, President Villa Heights Crime Prevention Organization Pursuant to provisions of Resolution No.2 5 52 3 adopted by the Council of the City of Roanoke on Monday, April 6, 1981, I have advertised a public hearing for Monday, September 18, 2006, at 7:00 p.m., or as soon thereafter as the matter may be heard, in the City Council Chamber, Room 450, Noel C. Taylor Municipal Building, 215 Church Avenue, S. W., City of Roanoke, on the request of Haitian Sinai Baptist Church, represented by The Reverend Castin Mesadieu, Pastor, that property located at 2905 Cove Road, N. W., identified as Official Tax No. 2480115, be rezoned from R-7, Residential Single Family District, to INPUD, Institutional Planned Unit Development District, to allow for a place to worship. This letter is provided for your information as an interested property owner and/or adjoining property owner. If you have questions with regard to the matter, please call the Department of Planning, Building and Economic Development at 540-853-1730. If you would like to receive a copy of the report of the City Planning Commission, please call the City Clerk's Office at 540-853-2541. MFP:ew Sincerely, ~;~Mu..O~·C~œw Deputy City Clerk L\C1.f:RK\DA T,\ \CIŒWI WubliL Hl'~rillgs\PllÞ]ic ¡Icarings 200(i\.~EP 06\Anorncys and Adjoining Property Owners Scp.doc " , CITY OF ROANOKE OFFICE OF THE CITY CLERK 215 Chllrch A"enlle, S.W.. Room 456 Roanoke, Virginia24011-1536 h'lcphl)lh~: (s·H)) :':53·2541 bx. \54UI1:l5.::'-11-1.:' E-mail: dt'rk¡<'!'l.:i.rnrllloke VOJ ll~ STEPIU'l1E M. )1001'. CMC Deputy City Clerk SHEILA ~. H,\RT;\IAN Assi.~[¡ll\l Cil)" Ckr~. August 10, 2006 File #51 Richard A. Rife, Chair City Planning Commission 1326 Grandin Road, S. W. Roanoke, Virginia 24015 Dear Mr. Rife: Pursuant to Section 36.2-540(c)(4) Code of the City of Roanoke (1979), as amended, I am enclosing copy of a Second Amended Petition received in the City Clerk's Office on August 9, 2006, from The Reverend Castin Mesadieu, Pastor, Haitian Sinai Baptist Church, requesting that a tract of land containing 5.49 acres, located at 2905 Cove Road, N. W., identified as Official Tax No. 2480115, be rezoned from R-7, Residential Single, Family District, to INPUD, Institutional Planned Unit Development District. Sincerely, , m.~_ Stephanie M. Moon, CMC Deputy City Clerk SMM:ew Enclosures l. ·ClEKK"·l)A"] A\CKEW]\II.FJ.O:-.lJ;,\\j A....[) STRI:H ïl.OSL:lI.nRezonmgs - Sllec"l ....lIt)" (It'-\.::0os CO"e Rd halllan ~mal baplisl church Z 3T1lC'nd dUo: · Richard A. Rife August 10, 2006 Page 2 pc: The Honorable Mayor and Members of the Roanoke City Council The Reverend Castin Mesadieu, Pastor, Haitian Sinai Baptist Church, 3846 Wilmont Avenue, N. W., Roanoke, Virginia 24017 Susan S. Lower, Director, Real Estate Valuation Martha P. Franklin, Secretary, City Planning Commission Philip C. Schirmer, City Engineer William M. Hackworth, City Attorney Steven J. Talevi, Assistant City Attorney Ian D. Shaw, Senior Planner L.\CLERK:DAT..l,,·.CKEW1:Rr:Z()!\I~G AI\D STREET Cl.OSlIRE"Rc.:onings - SlrcC'l Aile} O(,',:·lOS CC"·c Rd I:aUi.J.:l S:1I3: ~plisl dlUTCh ~ amend J"c ~ SECOND AMENDED PETITION TO REZONE IN THE COUNCIL or THE CITY OF ROANOKE, VIRGINIA IN RE: Rezoning of a tract of land contains 5.49 acres. located at 2905 Cove Rd. Tax numher 24110 I 15- R-7 Rcsidcntial Single Family District. TO THE HONORAßLE MAYOR AND MEMRERS or THE COUNCIL OF THE CITY or ROANOKE: The Petitioner, Ilaitian Sinai Raptist Church owns land in the city of Roanoke containing 5.49 acrcs morc or less, locatcd at 2905 Cove Road, NW Tax Numhcr 2480 I 15-R-7 Residential Single Family District. A map of the properly to he rezoncd is attach cd as Exhihit A. Pursuant to Scction 36.2-540. Code of the City of Roanoke (1979), as amended, the Petitioner requests thaI the said property be rezoncd Irom R-7, Residential Single-Family District, to 1NPUD, Institutional Planned Unit Development District for the purpose of building a church. In 2002 when we purchased the properly it was zoned RS-3, Residential Single Family District, which allowed operation and future construction of a church h)' right at this location. Last Deccmher, the city was rezoned and the property became R-7, Residential Single Family District. We arc requesting that the property he rezoned to INI'UD, Institutional Planned Unit Development District which would allow for church construction. The petitioner believes the rezoning of the said tract of land will further tht: intt:nt and purpost:s ofthe City's Zoning Ordinance and its comprehensive plan, in that it will allow expansion of an existing church. Attached as exhibit R arc names, addresses and tax numbers of the owner or owners of all lots or property immediately adjacent to and immediately across a street or road from the property to he rezoned. Exhibit C contairis a site plan showing the proposed development of the property. Exhibit D is a signed pdililln from se:ve:ral adjacent property owne:rs supporling the propose:d re:zoning. WHEREFORE, the petitioner requests that the: above-described tract he rezoned as œquested in accordance: with the provisions of the Zoning Ordinance: of the City of Roanoke. Respectfully submitted this 4lh day of August 2006 Respectfully submitted, By: Haitian Sinai,Baotist Church Owner Castin Mesadieu (Pastor) 3846 Wilmont Ave. Roanoke. ViTlÚnia 24017 Home # (540) 343-9436 Cell # (540) S19-6303 Trustees Aramy St.Fleur .' /~. .-. ...,'/ . ,....~.~ .~iJ r¡~/:J~~·'J/:"-L..f-.; ""." .... ¡ ";\.~/ Marie Lapierre '=- " /,.,. . .." ," ," IJ ,....../. "";/" .~.. -:.,,-/ ;.~-:-;.: Andree J. Mesadieu ~ æu:e;rd!;;¿/:£td,,:(Jf ,'" Fresnel Joseph ~_. '2.~ ·;··,-11/.:.:··,.....: :._-' ,·-:;¡~·,r;·-- . ">""" ·A ...,.-t:jf-...t:..." . .~.. .:...:.. ." ....t.. . -:-- . ¡, Winstin Mcsadieu l " ¡ ~A...._.. ¿¿~j' Jí. ~ . ' vi C4-C4--iI .. , " <'iesncl Saintmclus 'Y-. ' t':~ 0--& (l ~a.J}J;¡;o..ef!ut City of Roanoke - GIS ,':" ?, . , '-,-- ..·ji/~ t C p Page 1 of3 Print Report I Close Window Property Information Card for: TRS HAITIAN SINAI BAPTIST CHURCH 2905 COVE RD NW ROANOKE VA 24017 BUILDING PERMITS 'Li!1w P'1rmits & Code r;:nforcement Notices MAPS & PLANS View E_QgineeJin9..Mm1.~ & Pian§ Images :i";:r.. Æ';"l;~ : t~~--;7..7.~ST - "t,~~!<~~t--' .~:-~' )'>"i!i"~'í"'fl'c ~~:m';l~'." - -,'. ~..._~-,.;¡;-'~ .,. .>:.~::;:,: 'CC ':;IIr:r:~ ,'.". .->c_~>- ~:::' ~::t~t~,~~·-.- . '" :.,!;. '~::; .... Sketches Sketçb...1 OWNER/LEGAL INFORMATION Tax Number Property Address Legal Description Owner Name Owner 2 Name Owner Address 2480115 2905 COVE RD NW LOT 1 COVE ROAD TRS HAiTIAN SINAI BAPTIST CHURCH NIA 2905 COVE RD NW ROANOKE VA 24017 510 0.0??oo 200-SingIeFamily Neighborhood Number Census Tract Property Use "",..nn1'1r" 0._..._1:'__1..-. ~T<' nA/10¡'1nne.. ;:.xht~IL, '"", ("'-' Official Tax NoJ N arne of Property Owner Mailing Address Street Address 2480153 Vandel S.and Dollie K.Muse 3758 Troutland Ave. N.W. Cove Rd.,N.W. Roanoke,Va.24017 2480155x Rebecca C. Hale 2501 LakeviewDr. NW Coveland Dr.,N.W. Roanoke,V A 24017 2480162 Tom B. McCanhy 1713 Coveland Dr Coveland Dr., N.W, Roanoke, VA 24017 2480147 Tom B. McCanhy 1725 East 1713 Covel and Dr.. N.W. Binningham, AL 35215 2480159 Westwind Associates 800 Heathwood Bv 3001 Coveland Dr., N.W. Blacksburg, V A 24060 2480161 Westwind Associates 800 Heathwood Bv 3069 Ordway Rd.,NW Blacksburg, V A 24060 2470123 John L & Shirley A. Washington 28]6 Ordway Rd.,NW 28]6 Ordway Rd..NW Roanoke,VA 240]7 2470130 ,Debra M. Pannell 2820 Aspen Grove Cl. 2820 Asper Grove Cl. Roanoke,V A 24019 2470129 Blue Ridge Housing P.O. Box 2868 Aspen Grove Ct.,NW Roanoke,VA 24001 24.7Q.l.~8: _ _ ---- -- "-_..- _Estb!:L!;\)1ton Whitlock_ "'--.'-- _28.]3.Aspen.Gr.mlJ:..ct._ .. n_ _ :,,- f-' 2813 Aspen Grove CI.,NW Roanoke,V A 24017 2470] 27 Janis A. Wade 2809 Aspen Ct.,NW 2809 Aspen Grove CI.,NW Roanoke, V A 240] 7 2470]26 Stanley L. Aught])', JR. 2805 Aspen Cl. NW 2805 Aspen Cl. NW Roanoke,V A 24017 2460205 Nannie E. Taylor 5205 Lancelot LN #5 2846 Cove Rd. NW Roanoke,V A 24019 2460238 Busby J. & Shirley L. 2840 Cove Rd.,NW 2840 Cove Rd.,NW Trussell Roanoke,V A 24017 , 2460204 Trustees of Macedonia 2754 Booklyn Dr.NW ¡ 2910 Cove Rd.NW Baptist Church Roanoke.V A 24017 C/1'.r.';; ., I 1 I ;.:.J:.<.ll- ....'''''~'... ;;I>lC'1'l....Ç", ~N ::rvC"l>l_....=..O>o~ ¡ . f-~; H?"""t1H? ..l.SI..l.d....a n ~ ~ ¡ ;¡: _ri¡ i I ::r::<:ll] ~gt: . ~ õ' "II . I , ~ ~ 1 I....NIS N....I..l.I....H ~~ ~ <J "' ill 'I'i' , ::J:iiJ ". ,.,'J'.J. " ), ~ ""'CO=' "$)NINO%;I"2=I , ~ l..:Jl :r::~~ ,Ji! , ~< Hi· .'~-' . l'~(~ '. .-..:..... ~~~( ~ ,'",', ,,/' '/, - , - '>:¡; .,~,::/ .',;''' , ",:.), ~ ~ .."". .,....... ii,' ..... ;'-'".,~..". a; ",., ..;J<: .' ~. ''''';:~'' ~ ¡ ,~/ ,....~.. t· ~ \~<' ~~ /"" "" 'Ü" J ~ .;« ':',.'" !;"~// ;:: '.' ~'é; >,:' '>'., .,'::" ",.," 1:<':; ,:;::~~.~~. :: "~~'" ". .Qi:~, c-f \.·.;i .,' 01' .,-'. ',,;,' ~.,' .1',). I' '.._ ~" ~.' ,0;' . ~,' '..' ~ 'J.-;:-", ;," h~,"·;'.·''''' ,~ ..?'~-/\: '.~ ',,": ,,:> "'1,;,< . '~. ,< '".,:." ,:-, .~:¡¡; "" '! "i. f....~. . ""et:..'! ir:' "/'~"~'. '" ,. . j;':~>"(¡4~/" 'I'; ;;,,"?~>~.l<::-ç~1/"/~::~~<~~'1 '\ .,.,' il' ;'; \'>'.:';>' >11;;(:<~" :;';';;-'<>0.:' .... ...> j -.. .'./.'~', ~ ? ~.~..~'.-';...:.:' ''''~>".<...-.<, "1", '" .:.....~.:'" :':, . ~ r,l. J.. 1;' \'ll "," "" .'. -'., ~ ~ , l;,,' . <ll.. .' ........ ;'l:"" ", ...... , .:. .... .\ .-,". .. h," ,. .. .' . ..... ...¿" "":~\.. - '<\'.,~: '.':1 .... '~f":-(,' ...{-,~,.' .;,:.-~~\~. ~< ""... ~ ~....:.::. ,.,.'. ......~,. ,~.......--. ~,~,,;,( '':'~:..-.... ~::.~. . _ "~ ;' .r,:~~{'· _ "<~,,"" . ¡;' -...- ,:~ " .:~~~\>,... ~.··!,:,".;0, ~"" "'~~,. "'\' Z;-.. , , "<' -'.. r:'~):V ~., ;; Þr ',":"" \ : .' 'V' : -·:;·.+..fí '.':~,~>.,.,. ~ H ". -'., ~ :: 5 ....... ", "'" t - ~:- .~ ' <,) . I. .¡.~ . ¡h~ t~ ~,... .~ .. " ; , " .. .. .. " " , " .. " .. , :. ~ ,. ,.¡ ~: I I :;.... <:.,.' 'I' '. ,. ," . ..... .'. " ~ ~, . ,;. '. ~. , ~ ~. .~ .~: "1; I. j~;: t> ',. ., :.''¡ ~: ~ .~ -, ., i!·¡: ; .~ :.' .... ~ t .. t " " r.: ,* ,~ -r.; U.' o -. c ~ :,~ :....... I' " :;r. ~ -;:: .= ...... ~.' ì:.:; ! / / ..,' /// ,-- , - .::;-, ". " 1 , ,", , , " ., \ i " ,. .. ; , :;: " 'I , ,0, " , ~'. ; - " " , I ¡ , , , , , ! "', ë'l 'l: <by h. ,"b \+ j) HAITIAN SINAI BAPTIST CHURCH 2905 Cove Road Roanoke VA 24017 (540) 563-1817 Castin Mesadieu, Pastor Dear neighbor: We arc pleased to inform you that we have the intention to have a church built in this community. As our neighbor, one of the steps that we have to take is to get your agreement 10 that matter. Please help us fill this petition to this regard. We thank you for your time and your consideration. Nam~~cú..J1lº-1U(i.&L____ 2'84) C) ¡;~ œd PHONE:----------------~------------------- Address: -------------------------------------- ..-/' '_._._n,,~' '00_'_'_'_'" "--"....,-00,-.=-:-'--':--:'7' ----------¥ES+A-GREE-.~k--=.- 00_ - ____u " ___m_ _00 'F~/,; /, «',,_ t Ii. 2<./-c / 0 ON'T GREE ....¿1:c.......t.....L''''_·______________________________ N , I D A ------------__ PH ON E: -------------------------------------- / YES ] AGREE---~~~------ NO,] DON'T AGREE-------------- ¿ /"\ ,'/ "11 ('. Î'':j Nam~~-¡---&~1~~~5~ I (¡IlL) ~d SS:__J_:l.L~-----------.~-~--------~ l - ~ / ¡ fA( ~ .--'; ; ~ ~.. ; \ "A.. 1.,7! ~ , /. ....JUf" ... : l ''; ,tV{........ " . I'-! ' -----.-~~~--~~--_._-----~- ----~~~------~ J , Á Ii" /; '-;l (;' -" S ~'-..5 PHONE:-----......-- .k.:__i2 ~ __L_______ t/' YES] A GREE------------ NO,] DON'T AGREE----------·--- ¡ ,',' _____ I /1 - £-.1 .' , .~".11 '/1/1..'/7 I'þ~ < 1 I{,.{I.J-;A.... !:.'-L i./ ! I - to Name ::;J--u-""----- .-----------------.--,----- ""Î..--. :~-;, /.... ,/: , ..¿- ) '- ' /'" , .. .J;' "ï )~ C/O C' .--:.- Address~---¿-"'"--~----------------·----------- " ' _~_~~__:!~~~_C~:(~~~____L~i¿____~~:~;:~~_:;----- . . ("'\ /"'" -C ~ ,-. L.. L" ¡ (\ í'c N ame: __......__~.u_~_________=:..bl_,,¿________ C'C "\ n ~--r . '2/'-"'; 1-. s,", 'I' ---:'[ -, Li:.: U Address.----C\.".-J---------~-L-!--~ _c_ ' :-;-. )..,¡ _________t:;_l:~_Cl~_~~____~~!::_________ J>Jl()NE:------------~~----------------- YES ] AGREE------------ NO, ] DON'T AGREE-------------- NaJIle:---------------------------------------- Address: -------------------------------------- ------------------------------------------------- s:.; ,,'.. .c;:.- .:', /" ".~ J>]~()NE:-- ___.____""-"_~__"2:______________ YES I AGREE--i-::::::"~---- NO, ] DON'T AGREE-------------- '.m.lik~ce f 7-1, ----------------- ') "' i ' ./ ex.. ,: ') i ,1j,J AddœsS:----~--- _ > ~N ({i¡Jot '-------' ,7 --~è:.---------,c "t- v-: V. /1 ,¡/r.? I II.- "y I -¡ __~~_'_J_~'D_I{..___ V'I e!'{. vI / PHONE:----;).{,ô.:-Ç~Œ0-----·--------- ---------------..--- YES, J AGREE----¿ NO, J DON'T AGREE-------------- Name:------------- -------- --------------------------- Address·---------- ' . ---------------------------- ~l~¡;~~~::::::::::---------------------------- ---------------------------- YES, I AGREE----------- NO, I DON'T AGREE-------------- NaIne:-------------~~~--~~~-~~~~~~=~---- Address .--------- . ----------------------------- -------~----------------------------------------- PH ON E: --------------- ----------------------- YES, J AGREE------------ NO, J DON'T AGREE-------------- Na me:------------ -------- ---------------------------- Address:---------- ---------------------------- PHONE:------------ . -------------------------- YES I AGREE------------ NO, J DON'T AGREE------------- 1'1 aIne:-------------- -------- ----------------------..--- Address: ------------------ ------------------- --------------..---------------------------------- PHO~:------------------ -------------------- 'lES, I A GREE------------ NO, I DON'T AGREE-------------- Name:--------------- - - - --....------------------- Address: --------------- ----------------------- ~;i¡;~~~:~::~:~::::::------------------------ ------------------------ YES, J AGREE------------ NO, I DON'T AGREE-------------- ____oN arne:~..,.--~~·--..,.~-......""----·--..,.......---...,~....~·...:~·.....=..--~---- Address:-------------- ------------------------ ~;i¡;~~:::::::::::::::::~:::::::::::::::::::: YES, I AGREE------------ NO, I DON'T AGREE------------- N a me: ___n_________ -------------------------- Address:------------ -------------------------- ~;i()~~~~:----------------------------------- . ----------------------------------- ~S J J\<3REI:------------ NO, I DON'T AGREE----------~--- 2 /~~\ I'~'I.' ::.¡ \ Jf.l . >1;., ."'.'''1' '·f/ '~ ~L\RY t: J'ARIÜ:R. ntc City Clerk CITY OF ROANOKE OFFICE OF THE CITY CLERK 215 Church Avenue, S.W.. Room ~56 RmulÜke. Virginia 24011-1536 Tdeplll.1ll~: (540) 853-25-1] F~.'i: (:'-1(1) l:i5.~ 11-1) [-lIlail. der k1ii ¡·i.r("an()k~'. \"a.l!~ STEl>J1A~IE M. MOOi'õ. ole Deputy Cily Clerk SHEILA N. HARDUri A~~isl;mt City Ch:rk July 13, 2006 File #51 Richard A. Rife, Chair City Planning Commission 1326 Grandin Road, S. W. Roanoke, Virginia 24015 Dear Mr. Rife: Pursuant to Section 36.2-540(c)(4) of the Code of the City of Roanoke (1979), as amended, I am enclosing copy of an Amended Petition received in the City Clerk's Office on July 12, 2006, from Castin Mesadieu, Pastor, Haitian Sinai Baptist Church, requesting that a tract of land containing 5.49 acres, located at 2905 Cove Road, N. W., identified as Official Tax No. 2480115, be rezoned from R-7, Residential Single Family District, to INPUD, Institutional Planned Unit Development District. Sincerely, f) ý\. 6.... " 1 ro.... I ') I Mary F. Parker, CMC City Clerk t-~ - MFP:ew Enclosures' L ",('I.F.RK",oAl A;('KEWI\IŒlO~I:>lG A:'oID STREET CLOSURë\ll.ezul1ml!s _ Slrecl AHey r.(>"~90S Cove RJ haillan sir.nl baptISt çhurch amend...lll;: Richard A. Rife July 13, 2006 Page 2 pc: The Honorable Mayor and Members of the Roanoke City Council Castin Mesadieu, Pastor, Haitian Sinai Baptist Church 3846 Wilmont Avenue, N. W., Roanoke, Virginia 24017 Susan S. Lower, Director, Real Estate Valuation Martha P. Franklin, Secretary, City Planning Commission Philip C. Schirmer, City Engineer William M. Hackworth, City Attorney Steven J. Talevi, Assistant City Attorney Ian D. Shaw, Senior Planner L \CL¡;RK\D.'\TA'.CKEWI·.RF.zO~]N(j A.~D 5iREET ClOSUJŒ\Rewr.ings - Sueel Aile} úf.:::905 CC'~ Rd 1z.1IIi:lIlsinai h3l'tist church amend dl>e AMENDED PETITION TO REZONE IN THE COUNCIL OF 1'1 IE CITY OF ROANOKE, VIRGINIA IN RE: Rezoning of a tract of land contains 5.49 acres, localt:d at 2905 Cove Rd. Tax nwnber 248011 R-7 Residential Single Family District. TO THE HONORABLE MAYOR AND MEMBERS OF THE COUNCIL OF THE CITY or ROANOKE: The Petitioner, Haitian Sinai Baptist Church owns land in the city of Roanoke containing 5.49 acres more or less, located at 2905 Cove Road, NW Tax Nwnber 24801 15-R-7 Residential Single Family District. A map of the property to be rezoned is attached as Exhibit A. Pursuant to Section 36.2-540, Code of the City of Roanoke (1979). as amended, the Petitioner requests that the said property be rezoned from R-7, Residential Single-Family District, to 1NPUD, Institutional Planned Unit Development District for the purpose of building a church. In 2002 when we purchased the property it was zoned RS-3, Residential Singlc Family District, which allowed operation and future construction of a chureh by right at this location. Last December, the city wa~ rezoned and the property became R-7, Residential Single Family District. We are requesting that the property be rezpned to INPUD, Institutional Planned Unit Development District which would allow for church construction. The petitioner believes the rezoning of the said tract of land will further the intent and purposes of the City's Zoning Ordinance and its comprehensive plan, in that it will allow expansion of an existing church. Attached as exhibit B are names, addresscs and tax numbers of the owner or owners of all lots or property immediately adjacent to and immediately across a street or road from the property to be rezoned. Exhibit C contains a site plan showing the proposcd development of the property. Exhibit D is a signed petition from several adjacent property owner supporting the proposed rezoning. WHEREFORE, the petitioner requests that the above-described tract be rezoned as requested in accordance with the provisions of the Zoning Ordinance of the City of Roanoke. Respectfully submitted this 121h day of July 2006. 'j": . Respectfu.l1y submitted, By: Haitian Sinai Baotist Church Owner Castin Mesadieu !Pastor) 3846 Wi1monl Ave. Roanoke. Vir~inia 24017 Home # (540) 343-9436 Cell # (540) 819-6303 Trustees Aramy St.F1eur ¿.. Winstin Mesadieu ,=~~,td~; ·~;:.i:;.s.~· ....--) I I.. - // . ~~~e~l;:&d;'?'vt;\ /-f ~ /Î ¡ì"tLA{)I1d/ .--- .,~~?1~~~ o v'. I / ~. ftt/ I}, ê' --A;". _:1..:_.____ ~ ,?-o(l ¿~.t..t Marie Lapierre Andree J. Mesadieu Fresnel Joseph Gesncl Saintmelus Çity of Roanoke - GIS .:~. . P'J '.,1- ·iN,!;; ~ '-"' f?- Page 1 00 Print Report I Close Window Property Information Card for: TRS HAITIAN SINAI BAPTIST CHURCH 2905 COVE RD NW ROANOKE VA 24017 BUILDING PERMITS Yiew P~.ITT!its & Coqe..Enforceme!lt..Notice§ MAPS & PLANS ',Lie.!'! .fn9Lneering .~aD§..a..,'plan§ Images Yl~w..!ir~ Sketches Sl<e.\Ç~.J OWNER/LEGAL INFORMATION Tax Number Property Address Legal Description Owner Name Owner 2 Name Owner Address 2480115 2905 COVE RD NW LOT 1 COVE ROAD TRS HAiTIAN SINAI BAPTIST CHURCH N/A 2905 COVE RD NW . RQANOKE.vA 2~017·, 510 0.00000 200-SingleFamily Neighborhood Number Census Tract Property Use http://gis/website/rnke/rptDetaiIAII.cfm?mapno=2480115 &mapFn=rnke _GIS... 04/1S/2006 µJ.t-I ~I"" P Official Tax No.1 Name of Property Owner Mailing Address Street Address 2480153 Vandel S.and Dollie K.Muse 3758 Troutland Ave. N.W. Cove Rd.,N.W. Roanoke,Va.24017 2480155x Rebecca C. Hale 2501 Lakeview Dr. NW Coveland Dr.,N.W. Roanoke.V A 24017 2480162 Tom B. McCanhy 1713 Coveland Dr , Coveland Dr., N.W. Roanoke, V A 24017 2480147 Tom B. McCarthy 1725 East 1713 Coveland Dr., N.W. Birmingham, AL 35215 2480159 Westwind Associates 800 Heathwood Bv 3001 Coveland Dr., N.W. Blacksburg, V A 24060 2480161 Westwind Associates 800 Heathwood Bv 3069 Ordway Rd.,NW B1acksburg; V A 24060 2470123 John L & Shirley A. Washington 28]6 Ordway Rd.,NW 2816 Ordway Rd.,NW Roanoke, V A 24017 2470130 Debra M. Pannell 2820 Aspen Grove Ct. 2820 Asper Grove CI. Roanoke,VA 24019 2470129 Blue Ridge Housing P.O. Box 2868 Aspen Grove Ct.,NW Roanoke. V A 2400 I ,-.l:1]012L .. _n___ _... ".--- ..-----. Eslher.Hyllon Whitl9Ck___,...._ _.2813 Aspen ,Gro:lle_Ct., -----.-. - 2813 Aspen Gro\'e CI.,N W Roanoke,V A 24017 2470127 Janis A. Wade 2809 Aspen Ct.,NW 2809 Aspen Grove Ct., N W Roanoke, V A 24017 2470126 ., Stanley L. Aughtry, JR. 2805 Aspen Ct. NW 2805 Aspen Ct. NW Roanoke,V A 24017 2460205 Nannie E. Taylor 5205 Laneelot LN #5 2846 Cove Rd. NW Roanoke,V A 24019 2460238 Busby J. & Shirley L. 2840 Cove Rd.,NW 2840 Cove Rd.,NW . Trussell Roanoke, V A 24017 2460204 Trustees of Macedonia 2754 Booklyn Dr.NW ! 2910 Cove Rd.NW Baptist Church Roanoke,V A 24017 <byh.l-b 1+ j) HAITIAN SINAI BAPTIST CHURCH 2905 Cove Road Roanoke VA 24017 (540) 563-1817 Castin Mesadieu, Pastor Dear neighbor: We are pleased to inform you that we have the intention to have a church built in this community. As our neighbor, one of the steps that we have to take is to get your agreement to that matter. Please help us fill this petition to this regard. We thank you for your time and your consideration. Narn~]d~Œú..__hl£Üa<:L.&~~_____ 2i!¿kJ 0ii"€- ú2d Address :-------------------------------..__..___ ,~) ,;::---VA -'24Ó /-1 ~'"-'L~_Zç:_______________________________ P1lC>NEì:-------------------------------------- YES I AGREE---¿----- NO, I DC>N'T AGREEì---~---------- ~\ '¡ ./!.: Narne:-- -':!t~-___#~{~Ç¡,L!..f.2v.. " . 11,' -"' &f'J¿ß",'t.J (. 111/0 A~ss.-- - .Li--------:--.:.l-r&---------P( L i..-::I.¡11!lJ ^';.t.':j, t ,(A' ~ dr, ~)(' I '-" J' I" 1-................ ~ f'.- I -----T'-J ~-- '-----"---- -, --' --,,"""__-... I ""'r--7"t;r."'< PHC>NE:-----¿¡-H.I.?---~~--L':>..-:-':::!.. -/' YES I AGREE----!:------- NC>, I DON'T AGREEì-------------- I '/-- --- ¡// -1-1 - .-"'!.d" ·vl/i.. /;";. N ·}¿r:?L-L/L:......//-"/1 arne,"-- ------- -----------________~------ :-; .~: :) ~..-.,-, /:t 1.'- J '" ','--,/ [¿, ( - '/,- Address:·-""-""--·--..---------_...._.._...:___..__..___ ^ ' .¡...:. /J . ;?r-.; ,.I . ·'-'j~/~(·!t! ¡'./ /\,.",~..,-,. ·:~-~--~~----~-:_-~:----~~~---~~~!-~~-~--t----- PHC>~:----------------------------..-________ ~ YES-I-A-G-REEì-"---------- - -- ,- _u_ -,-- NC>, I DC>N'T AGREEì-------------- -<-- l""I.......... N '-- ~ "",c_ " i{\i'e~ aulle:--~--~~-~--------~-~-~--______ '2 ç ",(¡ ,-\ ,"', 1 G:' ,(- 'Lr C'-r- . .". ~J"S:, .,-....:: Address.----CL-L----___\!--L_ __ __L:__, c;--., ¡, (; {::;. ----_____~;~~~-(l~2-~~____~~~_~_________ l'I~()~:---------..---------.."-..-----------....-- ,/' L-- YES I AGREE------------ NC>, I DC>N'T AGREE-------------- NlUlle:----------------------------------____.._ Address: ----------------------_____________..__ ----~-------------------------------------------- PHC>"'= <' I <:: -- <. ,-' / ,-i--, J~[J:--~.--~----~~-~__w________________ YES I AGREE--j,¿'--..-- NC>, I DON'T AGREE--------..----- N.m.~ ~,"e r ßdœ)s~~---il~ii~~~~;jte, - __::1(\.-X1.flûKe-----~f¡- ;:;¡ i..;/ 7 PHONE:----~~-s.:-Q.u ¡c---------------- -------------------- YES, I AGREE----~ NO, I DON'T AGREE-------------- Name:--------------- -------- ------------------------- Address: ----------- --------- ------------------ ~;¡~~ì;~~~~~~~~~~~~~~~~----------------------- ----------------------- YES, I AGREE------------ NO, I DON'T AGREE-------------- Name:---------------~~==~----~~---~~~~---~~-- Address·----------- . ----..---------------------- ~i~~~i;~~~~~~~~~~~~~~~~~---------------------- --~------------------- YES, I AGREE------------ NO, I DON'T AGREE-------------- Name:------------------ . ---------------------- Address :--------------- ----------------------- PHONE:--------------- - ----------------------- YES I AGREE------------ NO, 1 DON'T AGREE-------------- Name:----------- -------- ----------------------------- Address:----------- --------------------------- -------------- ]>HO~' ----------------------------------- ,-------------------------------------- YES, I AGREE------------ NO, I DON'T AGREE-------- ------ Name:---------- -------- ------------------------------ Address :------------- ------------------------- ~i~~~~~~~~---------------------------------- . ---------------------------------- YES, I AGREE------------ NO, I DON'T AGREE-------------- .._~:..-.....,~.._......----.-_..--..-!!-..-...,..~=.....----...------~ Address: ------------------ -------------------- ~~~~~-------------------------------------- .-------------------------------------- YES, 1 AGREE------------ NO, I DON'T AGREE-------------- Name·------- --------" --------------------------------- Address:------------ -------------------------- ~~~~~~~~~---------------------------------- . ---------------------------------- '{!:S I J\(JREE------------ NO, 1 DON'T AGREE-------------- 2 - Official Tax No.1 Name of Property Owner Mailing Address Street Address 2480153 Vandel S.and Dollie K.Muse 3758 Troutland Ave. N.W. Cove Rd..N.W. Roanoke,Va.24017 2480155x Rebecca C. Hale 2501 Lakeview Dr. NW Coveland Dr..N.W. Roanoke, V A 24017 2480162 Tom B. McCanhy 1713 Coveland Dr Covcland Dr., N,W. Roanoke, V A 24017 2480147 Tom ß. McCanhy 1725 Easl"yuk Circle 1713 Coveland Dr., N. W. Birmingham. AL 35215 2480159 Wf'stwind Associates 800 Heathwood Bv 3001 Covel and Dr., N.W. Blacksburg, V A 24060 2480161 Wt:stwind Associalt:s 800 Heathwood Bv 3069 Ordway Rd..NW Blacksburg. V A 24060 2470123 John L & Shirley A. Washington 2816 Ordway Rd..NW 2816 Ordway Rd..NW Roanoke.V A 24017 2470130 Debra M. Pannell 2820 Aspen Grove CI. 2820 Asper Grove Ct. Roanoke, V A 24019 2470129 Blue Ridge Housing P.O. Box 2868 Aspen Grove CI.,NW Roanoke,V A 2400 I 2470128 Esther Hylton Whitlock 2813 Aspen Grove CI. 2813 Aspen Grove CI.,NW Roanoke,V A 24017 2470127 Janis A. Wade 2809 Aspen Ct.,NW 2809 Aspen Grove Ct..NW Roanoke. V A 24017 2470126 Stanley L. Aughlry, JR. 2805 Aspen Cl. NW 2805 Aspen Cl. NW Roanoke, V A 24017 2460205 Nannie E. Taylor 5205 Lancelot LN #5 2846 Cove Rd. NW Roanoke.V A 240 I 9 2460238 Busby J. & Shirley L. 2840 Cove Rd.,NW 2840 Cove Rd.,N W Roanoke, V A 24017 2460204 Trustees of Maadonia 2754 Booklyn Dr.NW 2910 Cove Rd.NW Baptist Church Roanoke.VA 24017 Official Tax No.1 Na!De of Property Owner Mailing Address Street Address 2480153 Vandel S.and Dollie K.Muse 3758 Troutland Ave. N.W. Cove Rd..N. W. Roanoke. Va. 24017 2480155x Rebecca C. Hale 250 I Lakeview Dr. NW Coveland Dr.,N.W. Roanoke, V A 240 I 7 2480162 Tom B. McCarthy 1713 Coveland Dr Coveland Dr.. N.W. Roanoke, VA 24017 2480147 Tom B. McCarthy 1725 East 1713 Coveland Dr., N.W. Birmingham, AL 35215 2480159 Westwind Associates 800 Heathwood Bv 3001 Coveland Dr., N.W. Blacksbur¡, V A 24060 2480161 Westwind Associates 800 Heathwood Bv 3069 Ordwav Rd..NW Blacksburg, V A 24060 2470123 John L & Shirley A. Washington 2816 Ordway Rd.,NW 2816 Ordway Rd.,NW Roanoke, V A 24017 2470130 Debra M. Pannell 2820 Aspen Grove Ct. 2820 Asper Grove Ct. Roanoke,VA 24019 2470129 Blue Ridge Housing P.O. Box 2868 Aspen Grove Ct.,NW Roanoke. V A 2400 I 2470128 Esther Hylton Whitlock 2813 Aspen Grove Ct. 2813 Aspen Grove Ct.,NW Roanoke,VA 24017 2470127 Janis A. Wade 2809 Aspen Ct.,NW 2809 Aspen Grove Ct.,NW Roanoke, VA 24017 2470126 Stanley L. Aughtry, JR. 2805 Aspen Ct. NW 2805 Aspen Ct. NW Roanoke, V A 2401 7 2460205 Nannie E. Taylor 5205 Lancelot LN #5 2846 Cove Rd. NW Roanoke.VA 24019 2460238 Busby J. & Shirley L. 2840 Cove Rd..NW 2840 Cove Rd.,NW Trussell Roanoke,VA 24017 2460204 Trustees of Macedonia 2754 Bookl)n Dr.NW 2910 Cove Rd.NW : BaPtist Church Roanoke V A 24017 I '.' " ..,' ' ,... ," . :~.,:." '"... " ".,' ' " . .... .,..: ".' , " , "",' '," " uj\ I I i I i I ¡ ! ! 'I I II ! II! i Ii Il'~ I'll! '1,1 ¡: ! ! !,' . II I ¡I II ¡ ill' "1' q i ¡I q: ;:1 !I'!li a. 1 '. ¡ i' ~ Î ¡¡ ¡ 01 '! ,H liIl.,....!II !II'" , "..' ); ~.ii;;'·;' /" .: 'J \ (//., .:.'( .:/ '. j . ..: '~ \ '. " , ". ....., , , ',,',V B ~ '/'1 lull" . 'I!' i·:,I·· I . 1 \ , ,I :5' ./ l;"l :'." :0 !i- i; .. \ ~!i :z: ). i! .,. n ::"'. en ;;: g n ;".' > :i,;. ¡;; .................. ~K\ ,;:,'J)<' , / / / I" ,,:"," ./ \" ., , ), " . ". ú' I" , ~~ 'z ít ,,'.', ". ,/. ReZONING> FOR HAITIAN SINAI SAPTIST CHUFõ:.CH ~ l:C'.I'I!~.:>....... co....~. ",_........ ..~::~.,;.'.,...;,.._.... II II!II! II; I!mn mill ~ II,j¡ ¡in ii' ¡!Iii; 11 , .,.. Ii Ii il II' 'I :.1 ! !"il! :: ~;! ¡'II :: i'n È §Il:mi ~ Ii . . !lI¡!CI1il I ~.!Cl.!'l!CI!ll!Cl . I. ;Q ).~). ~ $:P).):;')' .! ~ ~ ~ I ~ ! I . I In II II ¡II II II ¡ I I ~ I' ¡tlli! U ~m !,~! !¡ ! In ~I! Ila ¡ ¡ ¡ ¡¡ "i'~ ", ~ .... .' ~ , ." ,(/ .., /" / ./ ... /: ..;:." è'~ ¡II " II I I. I" n 'I' I! I . , I»"" l':I(r.- .C!~e ¡:;pø .", ,,~:I: ¡c¡:om Vl~~ "EVI.'ONSlj! þþþþþ¡;l IIIII ¡ 1: , " Gl <!l 1 \, '. II ~ III U'li " 11!l ! h¡lIh! !; .11 i il¡ II it'!!!il ill ill j' " ' 'i Ij, "II "I · ø >l, t,' . . '!I I ~ "i'. ,'"II' !',' '''"I i ill I ".' ¡ ,¡' ,. <, ' .' 11ft.: n H "'j ",' !'! ,~¡ !II;~ ï iII¡IO-1 I'if : a ,'" 'I' ' ,'" ~ ," lll', , :, "" i', ...~~ I,"·.... 1"1' I l! i i e Ilj "I~ !¡ .;11, ~ n ~". '} '~).'}~{.{.. . , , , , ;' .., ~ ' " ~ I,'; ._, 1 I ' , ! ¡ ~~ . ~i.: ";", ~ -ÄI' . " ,v ',ì~ "- \ '.' ,- ii g- þ'5! §ä · c;> ~" " ii ~ ./ 'tl ' , :I: ' : ,ñ::-..,i . : ,,' Ul' ',\.. \ ' .. § ("). "~ \ \ " "~. /",~\ \. " ,'," ': /. " " "',,,/-: ", , :/; ',.\, , ;t '-..... ". ¡::'. . § .1 ~.I ,':-v/ /'A' / , "j/ /./ <1' r·,/ I / . ¡..' . ,'" : .) , ~ :.C. ~~ C. f~ 6ìl' il:l'~I"1 Ill"' I, REZONING FOR HAITIAN SINAI ~6"'PTISTC.HUI't "~~""'" '.." CH. .~.""_II:<l"'" L...,_ ' ,. Hi II II 'u I ,J~' I ~ II' illl-~ In"i 'II I" ql,l!~ ~!! !! m;~I! i ..!Ii' II."' i·" a ~lI!lI m ! ¡ !ii P , , , , I ''''-..., '. \.. ~' ~ /', /" / , i " I I ". ~ ~ ] .: " ..' i .' ~',' . .. ' , - {.' ..-- ,.' ! ; \, " I ¡ ;~ " .,r~ 1 ...: ,', Iii' III ¡n 'I.' In " III I I I .' .". ," ....: I I \ . 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L~", I, r) , Name.~f-Æix~( -¥,0/J e 1/ . ~d . s~~~~~j;I~-;-;J--0~'JVê :p.:..-----------{ t- ____ _ 1r'£.!£1I.Jfie VA;.,')/ vi 7 PH 0 . ____r1ÍP. š:-Õi¡--0---------------- ~E:. - ------ --- - . - þ.------------- YE:S, I AGREE----~ NO, I DO~'T AGREE-------------- Name:----------- ' -------- ----------------------------- Address·--------- ' · ----------------------------- ;:;i~~~~~~~~~~~~~----------------------------- · ----------------------------- YES, I AGREE:------------ ~O, I DO~'T AGREE:--------- Name:---------------~~------~~~-------=-~~~~- Address' ---------- · ---------------------------- ;:;i~~~~~~~~~~~~~----------"------------------ · --------~~------------------- YES, I AGREE:------------ ~O, I DO~'T AGREE-------------- Name:----------- ' -------- ----------------------------- Address:-------------- ------------------------ PHO~E:----------- ,. ----~---------------------- YE:S I A GREE------------ ~O, I DO~'T AGREE:-------------- Name:------------- - -------- - ------------------------- Address:------------------- ------------------. ;:;i~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ YES, I AGREE------------ ~O, I DO~'T AGREE------- ------ Name"--------- --------" ------------------------------- Address·------- . ------------------------------- ;.-;;~~~~-------------------------------------- .-------------------------------------- YES, 1 AGREE------------ ~O. I DO~'T AGREE-------------- -----~:-~~~~-~------~-----~-----~~~~:~~-------- Address: --------------- . .---------------------- ;:;;~----~-------------------------------------- ~.-------------------------------------- YES, 1 AGREE------------ ~O, I DO~'T AGREE-------------- Name"-------- --------0 -------------------------------- Address·-------- ° ------------------------------ ;:;i~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ YES 1 AGREE------------ ~O, I DO~'T AGREE----------~--- 2 Official Tax No.1 Name of Property Owner Mailing Address Street Address 2~80 I 53 Vandcl S.and Dollie K.Musc 3758 Troutland Ave. N.W. Cove Rd.,N.W. Roanoke. Va. 24017 2~80155x Rebecca C. Hale 250 I Lakeview Dr. N W Coveland Dr..N. W. Roanoke, V A 2~O 17 2480162 Tom B. McCarthy J 7/ J Coveland Dr Coveland Dr., N.W. Roanoke, V A 24017 2480147 Tom B. McCarthy 1725 Easlwyuk Circle 1713 Coveland Dr., N.W. Birmingham, AL 35215 2480159 Westwind Associates 800 Heathwood Bv 3001 Coveland Dr., N.W. Blacksburg, V A 24060 2~80161 Wcstwind Associates 800 Heathwood Bv 3069 Ordway Rd..NW Blacksburg, V A 2~060 2~7012J John L & Shirley A. Washington 2816 Ordway Rd.,N W 2816 Ordway Rd"NW Roanoke. V A 24017 2470130 Debra M. Pannell 2820 Aspen Grove Ct. 2820 Asper Grove CI. Roanoke,V A 24019 2470129 Blue Ridge Housing P.O. Box 2868 Aspen Grove CI..NW Roanoke. V A 2400 2470128 Esther Hylton Whitlock 2813 Aspen Grove CI. 2813 Aspen Grove CI.,NW Roanoke.V A 2~O17 2~70127 Janis A. Wade 2809 Aspen CI.,NW 2809 Aspen Grove Cl..NW Roanoke, V A 24017 2~70126 Stanley I.. Aughtl')', JR. 2805 Aspen CI. NW 2805 Aspen Ct. NW Roanoke.V A 24017 2460205 Nannie E. Taylor 5205 Laneelot LN !i5 28~6 Cove Rd. N W Roanoke. V A 24019 2460238 Busby J. & Shirley L. 2840 Cove Rd.,NW 2840 Cove Rd..NW Rnanoke.V A 24017 2460204 Trustt:es of Maadonia 2754 Booklyn Dr.NW 2910 Cove Rd.NW Baptist Church Roanoke, V A 24017 CITY OF ROANOKE OFFICE OF THE CITY CLERK 215 Church Avenue. S.w.. RoÒm456 Roanoke. Virginia 24011-1 53ti Tell-phIllie. (540) ~5:::'-:!5~] F.I."" (5-101 :-:=-~-II-1~ E-mail: rkrklf ci.r~I;lllnJ..:t·.\"iLL1~ STEI'HA:'<IE ~1. MOON, C~lC. Deputy City Clerk SHEII.A "- IIAKTl\.1,\N 1\~!'iq,1D1 CilY ('Jerk. June 2, 2006 File #51 Richard A. Rife, Chair City Planning Commission 1326 Grandin Road, S. W. Roanoke, Virginia 24015 Dear Mr. Rife: Pursuant to Section 36.2-540(c)(4) of the Code of the City of Roanoke (1979), as amended, I am enclosing copy of a petition received in the City Clerk's Office on June 1, 2006, from Castin Mesadieu, Pastor, representing Haitian Sinai Baptist Church, requesting that a tract of land containing 5.49 acres, located at 2905 Cove Road, N. W., identified as Official Tax No. 2480115, be rezoned from R-7, Residential Single Family District, to INPUD, Institutional Planned Unit Development District. Sincerely, ~~ .J. ¡J A.Þ-- Mary F. Parker, CMC City Clerk MFP:ew Enclosures , (", l:l'L"'n,,"' ..·.r...¡.\\·,'Il¡:/n~N¡; A'll) STRI:F.T (,L(JSlIIU:·Rc~A':lII;~ _ SlrC'C'1 ,\I:ey 0t."1Q:I~ Ü....e Rd hJi¡¡õlll ~11I3¡ b:1rv.L~: t:hurcli doç Richard A. Rife, Chair June 2, 2006 Page 2 pc: The Honorable Mayor and Members of the Roanoke City Council The Honorable Gwendolyn W. Mason, Council Member- Elect, 3841 Bosworth Drive, S. W., Roanoke Virginia 24014 The Honorable David B. Trinkle, Council Member- Elect, 2855 S.Jefferson Street, Roanoke, Virginia 24014 Castin Mesadieu, Pastor, 3846 Wilmont Avenue, N. W., Roanoke, Virginia 24017 Susan S. Lower, Director, Real Estate Valuation Martha P. Franklin, Secretary, City Planning Commission Philip C. Schirmer, City Engineer William M. Hackworth, City Attorney Steven J. Talevi, Assistant City Attorney Ian D. Shaw, Senior Planner L ',(LCRK\DAT A\C"F.WliRLZOl"I'SG A~n STRF.ETCLOSURE\Rtzollings, SI,cel Alic)' 06;::QO~ C'1l"C Rd hanian sir-a; baptist d:urch.doc 'ETITlON TO REZONE IN THE COUNCIL OF THE CITY OF ROANOKE, VIRGINIA 11\ RE: Rezoning of a tract ofland contains 5.49 acres, located at 2905 Cove Rd. Tax number 2480115 R-7 Residential Single Family District. TO THE HONORABLE MAYOR AND MEMBERS OF THE COUNCIL OF THE CITY OF ROANOKE: The Petitioner. Haitian Sinai ßaptist Church OW11S land in the City of Roanoke containing 5.49 acrcs morc or less. located at 2905 Covc Road, NW Tax Number 2480115-R-7 Residential Single Family District. A map of the property to be rezoned is attachcd as Exhibit A. Pursuant to Section 36.2-540, Code of the City oCRoanokc( 1979), as amendcd, thc Pctitioner rcquests that the said propcrty bc rczoned from R-7, Residcntial Single-Family District, to INPUD, Institutional Planncd Unit Development District for thc purpose ofbuilding a church. In 2002 when we purchased the propcrty it was zoned RS-3.Rcsidential Singlc Family District, which allowed opcration and future construction of a church by right at this location. I,ast Decembcr. thc city was rezoncd and the property became R-7,Residential Single family District. We arc requesting that the property be rezoned to INPUD. Institutional Planned Unit Developmcnt District which would allow for church construction. Thc petitioner believes the rezoning of the said tract of land will further the intent and purposes of the City's Zoning Ordinance and its comprehensive plan, in that it will allow expansion fo an existing church. Attached as Exhihitll arc names, addresses and tax numbers of the owner or owners of all lots or property immcdiately adjacent to and immediatdy across a street or road from thc propcrty to bc rczoned. Exhibit C contaiT!sa·sitcp1an showing the proposed development of property to be rezoned. Exhibit C contains a site plan showing two proposed development of the property. Exhibitl! is a signed petition from several adjacent property owners supporting the proposed rezoning. WHEREFORE, the petitioner requests that the above-described tract be rezoned as requested in accordance with the provisions ofthc Zoning Ordinance of the City of Roanoke. Respectfully submilled this ~ day of June,2006 \ " I,· By: Casun Mesadieu (Pastor) 3846 Wilmont Ave Roanoke. Vin!Ìnia 24017 H.0me # (540) 343-9436 Cell# (540) 8196303 Respectfully submitted, H"" aJtlan Sinai Baotist Church Owner ,--, ~.\ ~ . ~~~ ,..-----..- ., 0 'j JVL~ct/I.ß--c.-"-_/ City of Roanoke - GIS " F·" ~ '1- tl!: r '-' H- Page I of3 Print Report I Close Window Property Information Card for: TRS HAITIAN SINAI BAPTIST CHURCH 2905 COVE RD NW ROANOKE VA 24017 BUILDING PERMITS 'ii!ll'Lf'.ermits & GoQ!l...l;nforce.m.!lnt Notice.ª MAPS & PLANS Vi,eYl Engineering M--ªP-'L{l,. Plans Images yiew.!¡;1rge phQto Sketches Ske[s;,bJ OWNER/LEGAL INFORMATION Tax Number Property Address Legal Description Owner Name Owner 2 Name Owner Address 2480115 2905 COVE RD NW LOT 1 COVE ROAD TRS HAITIAN SINAI BAPTIST CHURCH N!A 2905 COVE RD NW ROANOKE VA 24017 510 0.00000 200-SingleFamily Neighborhood Number Census Tract Property Use hllp://gis/website/mkc/rptDetailAILefm')mapno=2480 I J 5 &mapFn=mke _GIS... 04/18/2006 S:Xhl,",'1. (:..:::> Official Tax No.1 Name of Property Owner Mailing Address Street Address 248UI53 Vande! S.and Dollie K.Muse 3758 Troutland Ave. N.W, Cove Rd..N,W. Roanoke.Va, 24017 2480155x Rebecca C. lIale 250 I Lakeview Dr. N W Coveland Dr..N.W. Roanoke.V A 24017 2480162 Tom A. McCarthy 1713 Coveland Dr Coveland Dr.. N.W. Roanoke, V A 240 I 7 2480147 TomB. McCarthy 1725 Eas' 1713 Covel and Dr.. N.W. Birmingham, AL 35215 2480159 Westwind Associates 800 H eathwood B v 3001 Coveland Dr.. N.W. Blackshurg, V A 24060 2480161 Westwind AssociatL:s 800 Heathwood Bv 3069 Ordway RduNW Blackshurg. V A 24060 247UI23 John L & Shirley A. Washington 2816 Ordway Rd.,NW 2816 Ordway Rd.,NW Roanoke, V A 2401 7 2470130 Debra M. 'Pannell 2820 Aspen Grove Cl. 2820 Asper Grove 0, Roanoke.V A 24019 2470129 13lue Ridge lIousing P.O. 130x 2868 Aspen Grove Cl..NW Roanoke, V A 2400 I - 2HOl28 ..-------- Esther Hylton Whitlock____ 2813 Aspen Grove_CI.____..__._._ 2813 Aspen Grove CI..NW Roanoke.VA 24017 2470127 Janis A. Wade 2809 Aspen CI.,NW 2809 Aspen Grove CI.,NW Roanoke, V A 24017 2470126 Stanley L. Aughlry. JR. 2805 Aspen Cl. NW 2805 Aspen Cl. NW Roanoke.VA 24017 2460205 Nannie E. Taylor 5205 I.ancelot LN #5 2846 Cove Rd_ N W Roanoke, V A 24019 2460238 Busby J. & Shirley L. 2840 Cove Rd..NW 284U Cove Rd.,NW Trussell Roanoke, V A 24017 2460204 Trustees of Macedonia 2754 Booklyn Dr.NW 2910 Cove Rd.NW Baptist Church Roanoke,V A 24017 , 'b +fJ '2S\(1I1 I' ...;/ HAITIAN SINAI BAPTIST CHURCH 2905 Cove Road Roanoke VA 24017 (540) 563-1817 Castin Mesadieu, Pastor Dear neighbor: We are pleased to inform you that we have the intention to have a church built in this community. As our neighbor, one of the steps that we have to take is to get your agreement to that maHer. Please help us fill this petition to this regard. We thank you for your time and your consideration. . ·:1~.(;·· \ Æ)ë!.r( 1/ ('11 j Name. _________j_I..__.k~_______lU....{~______ ",,---..... Address:--~~'1.1.{L_CL~~~:l¿lJ..___ (j~c;..J.Lf.:.K.':.-...____)J::L____2':1Ç~Xl Pff()NI2:--------------------------------______ YES I AGREI2---I------ N(), I D()N'T AGRI2E-------------- (\1.,1 Name:--r:.~~:t-~:~~;11~~Y, Iv It) Aß%T-Xl1;-"--,:_lLc-Â -~_~~:fU1l1.æ.J:.j),."~___~/ --2!:!:~L7.., I' , ~ Ú 'J < ~L::" ··'Õ~,..J Pf I()NE:-----"'-'---¡..L-- .J..__L________ YES I AGREE----¿-~-- N(). I D()N'T AGREE-------------- .I '. .---- /;/ ,//" ( , ')/(,1;,<.. LA~ {/ " , (,: v ~ame:- _~.j'-C_____ c_______________"__~~----- t"Î);" ) ."--.,;". ./ /1/ Address:c-:2.::-~:,L~~~~_~~___~_..'c:_________ ·Il i ,'> "t, "I' ¡' 'IJ ') , ., ," .:. ,..,." ! /, - i. I.~J : ~ -~--~--~------~---~:_--_l~~~----~--!-~--~--f----- PI f () NI2: -----------------,--------------------- . ---YES f-AGREE---~:-- N(). I D()N'T AGREE-------------- . ".~. ---r ~ ("" ¿: l" \ f\ ¡'\ (:. ~anne:---~--~~-~-------~=~l-~-~-~------ ?>,.c--/l r\s·¡· (~'r"(( cT Address:-----l..:-J---------\f-LL\..C-_L_ . 1? \~,Cè,f\C,I(Q C:\ ^ ,----------~-_._--------------------------------- PH ()N E: --------------------"----------------- / C·, YES I AGREE------------ N(), I D()N'T AGREE-------------- Name: ---------------------------------------- Address: -------------------------------------- <; , ,~'.. .,".) .,~ '.~ ' Ptl()NI::--~L-------cL-"-"~-----______________ YES 1 AGRI:E--J.¿:~---- N(), I D()N'T AGRI2E-------------- //;? r~_ i , 1/ Name:Ucæc¡ , c.. ,],'] (' " -------- ------~J.' ---------------;-- l:;¿' ¿ , ! i, ' ,,¡J ,~s:c-ni?2(~n-J- -~?~-'!..--:£!_i ~ '-- ~- / ' .\ ....... .1 . ____ _ \..~..Q_(¿J:55.,.__n_Y_:1__ ~?i 1.--1 7 PHONE:----aw.:;.:-<:~U-k:2- _m --00------ --------------- YES, I AGREE----~ NO, I DON'T AGREE-------------- Name:---------------------------------------- Address: ____________n ------------------------ ;;HO~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ YES, I AGREE------------ NO, I DON'T AGREEn------------ Name:-----n----n -------- --------------------------- Address: ______n_____ ------------------------- ------------------ PH ON E: mm_~~~~~~~~~~--------------------- --------------------- YES, I AGREE------------ NO, I DON'T AGREE-------------- Name:---------------------------------------- Address: ---------------- ---------------------- ~;~o---:~-------------------------------------- N c. ------- ------- ------------------------ YES, I AGREE------------ NO, I DON'T AGREE-------------- Name:----------------------~-====:=---===---~----·-----------Name:---------------------------------------- Address: ---00------- -------------------------- ;;HO~~~~~~~~~~~~~~~~~~~~~~~~~---------------- ---------------- YES. I AGREE-------m-- NO. J DON'T AGREE-------------- Name:---------------------------------------- Address: ________m__ ------------------------- PH ON E: ____m____ --------------------------- YES I AGREE-m-nm-- NO. I DON'T AGREE-----------n- Address: ____n___________ --------------------- ;;;~O~--~~~~~~~~~------------------------------ E. ------------------------------ YES, I AGREE-nnn----- NO. J DON'T AGREE------------ Name:----n--n--- -------- --------------------------- Address:----------------- --------------------- ~;;~O~~~~~~~~~~~------------------------------ . ------------------------------ YES I AGREE------------ NO, I DON'T AGREE-----------m 2 Official Tax No.1 Name of Property Owner Mailing Address Street Address 2~80 153 Vandd S.and Dollie K.Muse 3758 Troutland Ave. N.W. COy\: Rd.,N.W. Roanoke, Va. 2~O 17 2~80155x Reheeea C. lIale 250 I Lrtkcvicw Dr. NW Covdand Dr.,N.W. Roanoke, V A 2~O I 7 2480162 Tom B. McCarthy 1713 Coveland Dr Coveland Dr., N,W. Roanoke. V A 24017 2~SOI~7 Tom 13. McCarthy J 1'25 East 1713 Coveland Dr.. N.W, Binningham. AI. 35215 2480159 Wcslwind Associates 800 lleathwood Bv 3001 Coveland Dr., N.W, lllaekshurg. V A 24060 2~80161 West wind Assm.:ialcs 800 Hemhwood Bv 3069 Ordway Rd..I'W Blackshurg, V A 24060 2~70123 John L & Shirley A. Washington 2816 Ordway Rd.,NW 2816 Ordway Rd..NW Roanoke, V A 2~0 17 2~ 70130 Debra M. Pannell 2820 Aspen Orove Ct. 2820 Asper Grove Ct. Roanoke.VA 2~O19 2·nO 129 Blue Ridge Hnusing P.O. Box 2868 Aspen Grove Ct.,NW Roanoke. V A 2400 I 2470128 ESlher Hylton Whillock 2813 Aspen Grove n. 2813 Aspen (,rove C1..I'W Roanoke, V A 24017 2470127 Janis A. Wade 2809 Aspen Cl..NW 2809 Aspen Grove Ct..NW Roanoke. V A 2~0 17 2~70126 SIan ley L. Aught!)'. JR. 2805 Aspen Ct. N W 2805 Aspen 0, NW Roanoke.VA 24017 2460205 Nannie E, Taylor 5205 I.ancelot LN !l5 2846 Cove Rd. NW Roanoke. V A 2~O 19 2~60238 Busby J. & Shirley L. 2840 Cove Rd..NW 28~O Cove Rd..NW Trussell Roanoke. V A 24017 2~6020~ Trustees of Macedonia 275~ Booklyn DLNW 2910 Cove Rd.NW Baplisl Church Roanoke. V A 2~0 I 7 Official Tax No.! Name of Property Owner Mailing Address Street Address 2480153 Vandel S.and Dollie K.Muse 3758 Troutland Ave. N.W. Cove Rd.,N.W. Roanoke, V a. 240 I 7 2480155x Rebecca C. Hale 2501 Lakeview Dr. NW Covcland Dr.,N.W. Roanoke,V A 24017 2480162 Tom B. McCartby 1713 Coveland Dr Coveland Dr., N.W. Roanoke, V A 24017 2480147 Tom B. McCarthy 1 725 East 171J Coveland Dr.. N.W. Binningham, At 35215 2480159 Westwind Associates 800 Healhwood Bv 300 I Coveland Dr.. N. W. Blacksburg. V A 24060 2480161 Westwind Associatt:s 800 Ilcalhwood Bv 3069 Ordwav Rd..NW Blacksburg, V A 24060 2470123 John L & Shirley A. Washington 2816 Ordway Rd.,NW 2816 Ordway Rd.,NW Roanokc.V A 24017 2470130 Debra M. Pmmell 2820 Aspcn Grove Ct. 2820 Asper Grove Ct. Roanokc.V A 24019 2470129 Blue Ridge Housing P.O. Box 2868 Aspcn Grove Ct.,N W Roanoke. V A 2400 1 2470128 Esther Hylton Whitlock 2813 Aspen Grove Ct. 2813 Aspen Grovc Ct..NW Roanokc,V A 24017 2470127 Janis A. Wade 2809 Aspen Ct..NW 2809 Aspen Grove Ct.,NW Roanoke. V A 24017 2470126 Stanley L. Aughtry, JR. 2805 Aspen Cl. NW 2805 Aspen Ct. N W Roanoke,V A 24017 2460205 Nannie E. Taylor 5205 Lancelol LN #5 2846 Cove Rd. NW Roanoke.V A 24019 2460238 Busby J. & Shirley L. 2840 Cove Rd..NW 2840 Cove Rd..NW Trussell Roanoke. V A 24017 2460204 Trustees of Macedonia 2754 Booklyo Dr.NW 2910 Cove Rd.NW Bantist ChUTCh Roanoke,V A 24017 [~- i ' : ¡ Ijl . .: ~ , 11, " , '"j . .' '. ~". ' < ''" ";,!-. " .,: '; \.: '., ~'h -'.. I,,';. c. .' r," ,: .....,.. '!IJl :!'-j -¡Ill ·io 'r ,. z ,!.' ~.. ...... '.',. '..,. .... '.. "'--. :1' ::'''~ --!:¡.......ç;... -.;,-. " ....-.---. ~/::' ;¡ .i )' .I . ,;:~:~~. . i1.. I. f,::. ... , - . I,~-:- \ \ :,;¡ \:. 1~ " \ I . r ':'".,;._ _;...... ....., ~li i , : :11 , I ':, .: ~; . 'f .,¡" ""', .,.... ~.: \, .) -;. . . .~ '":-. .,. ",'.' ""': ~l~, - ,., ': ~~ : I..~ /~. '~j;f/ ..,-i. "!~,,;' .....", :"j '~"/ . . ~.., i ! , " ,.. , ' ''--1:;\ \ \ '\~l\ I -'-:;) 'J r_III, ._ ! .' ¡,~. >?~.. ~~ -" .... : j->~. ..""... .. , , . . ". , J' ~ ".f( 'Ù "":" ~,' :~ .0;" ./ . "\:'"-- . ..:. ',è:" '.~ , 1:" ,. '-, .f' '. . - ~ ~ 4': ,/ :'1 ":':,.1 ':.) "<-:" ;' - -..,:- ........, .( ...~. I.;A: .... " '. ..... .. I :,' :~. '" .. .. .. ,. r: 7 " . ......-.-..--. '-'. '. "" -.. ~:~.:/~/~':-===:~~~:~:~-- - '-'-. '-"-. "'., -'. :.:_- -~...;..:.. ..... ", -.. :-.::-' -:" ~-_:... '.:: ~;'--:~,~ - '. == ~ =--, . \. <, " ., ~. " ...:_,~ .~ "~f· ..."..... <r .~ !.~ .. :/ Zoning Amendment/Conditional Rezoning Filing Compliance Statement Petitioner: l-k.;hC,A Date G / I/ZooG C', , .=;)'V\CA,. ßúrf'<:J- Cl-cUJ d", Petition Includes: /1, --:;:/' 2, ~3. ---/4, -1~' 6, Filing Fee: Name. address and phone number of petitioner Names, signatures and addresses of the owner or owners of the lots or property including in the proposed change Description of the purpose for the requested zoning district classification and the proposed use of the property, Concept plan outlining features of the proposed use of the property including buildings, parking, access, and similar features; Map of the area requested for rezoning; Names, addresses and official tax numbers of owners of the lots or property immediately adjacent to and those directly opposite thereto. $ I, l'>'l ~5 s~ ecretary, Ity annlng ommlsslon Fee Schedule Rezoning to Residential Districts RA, R-12, R-ì, R-S, R-3, RM-l, RM-2, RMF $600 + $25 per acre or any portion Rezoning to Commercial Districts CN, CG, CLS $900 + S25 per acre or allY portion Rezoning to Industrial Districts 1-1, 1-2 $900 + $25 per acre or any portion RE'zoning to Special Purpose Districts D. Downtown MA, Mixed Use IN, Institutional Distrjct ROS, Recreation and Open Space AD, Airport Development S900 + $25 per acre 01 and portion Rezoning to Planned Unit Developments Distric(s MXPUD, Mixed PUD INPUD, Institutional PUD IPUD. Industrial PUD $1.000... 525 per acre or any portion Rc;,oning to Overlay Districts H-I. Historic Downtown H·2. Neighborhood Historic ND, Neighborhood Design RCC, Rlv~r and Creek Corridor CS, Comprehensive Sign s~so Amendment to Proffered Condition') $;00 CITY OF ROANOKE , OFFICE OF THE CITY CLERK STE>HA~IE ~f, MOOI\. 01C Actin,g City Clerk 2 J 5 Church i\ venue, S. W.. Room 45ó 1~I.'an(lke. Virginia 24VII-1536 Telephone: (540) X53-254 I Fax: (540) X53-]]45 E-)Jail: I.:'lcrk@"wanokc\"a.gov SI1EILA N. IIARTMA~. CMC Assistant City Clerk September 20, 2006 File #53-467 George J. A. Clemo, Attorney Woods Rogers PLC P.O. Box 14125 Roanoke, Virginia 24038-4125 Dear Mr. Clemo: I am enclosing two copies of Resolution No. 37540-091806 authorizing issuance of not to exceed $2,100,000.00 General Obligation School Bonds of the City of Roanoke, Virginia, Series 2006-A, to be sold to the Virginia Public School Authority and providing for the form and details thereof, for financing certain capital improvements, for appropriate filing with the Circuit Court of the City of Roanoke. The above referenced measure was adopted by the Council of the City of Roanoke at a regular meeting which was held on Monday, September 18, 2006. Sincerely, -- . tn, (!Jb1h0 Stephanie M. Moon, CMC Acting City Clerk SMM:ew Enclosure pc: The Honorable Brenda L. Hamilton, Clerk of Circuit Court Darlene L. Burcham, City Manager Jesse A. Hall, Director of Finance Marvin T. Thompson, Superintendent, Roanoke City Public Schools, P. O. Box 13145, Roanoke, Virginia 24031 Cindy H. Poulton, Clerk, Roanoke City School Board, P. O. Box 13145, Roanoke, Virginia 24031 L:ICLERKIDATAICKEW1\AGENDA CORRESPONDENCElagenda correspondence 06\Sepl 06\Sept 18 06 cor,doc CERTIFICATE OF THE CLERK OF THE CIRCUIT COURT OF THE CITY OF ROANOKE. VIRGINIA The undersigned Clerk of the Circuit Court of the City of Roanoke, Virginia, hereby certifies that: (I) The Mayor and Members of the City Council of the City of Roanoke, Virginia (the "Council"), named below have taken and subscribed the oath prescribed by law on or before the date or dates on which his or her term or terms of office began, pursuant to § 15.2-1522 of the Code of Virginia 1950, as amended, as follows: Name Datel's) Oath Taken Ralph K. Smith, Mayor C. Nelson Harris, Mayor, Vice Mayorl M. Rupert Cutler Alfred T. Dowe, Jr. Beverly T. Fitzpatrick, Jr., Vice Mayor William D. Bestpitch Linda F. Wyatt Brenda 1. McDaniee Brian J. Wishneff Sherman P. Lea David B. Trinklc, Vice Mayor4 Gwendolyn W. Mason 6/29/2000 6/20/2002,6/24/2004 6/20/2002 6/20/2002, 6/12/2006 5/19/2003, 6/24/2004 6/29/2000 6/29/2000 7/6/2004 6/24/2004 6/24/2004 6/12/2006 6/12/2006 I Term of office as Vice Mayor was from 7/112002 - 6/30/2004; vacated council seat when elected mayor for 4 year term beginning 7/112004. 2 Appointed to fill unexpired council term of William H. Carder; elected to Council for 4 year term beginning 7/112004; served as Vice Mayor for 2 year term from 7/112004-6/3012006. 3 Appointed to fill unexpired council term of C. Nelson Harris ending 6/30/2006. 4 Serves as Vice Mayor for 2 year term beginning 7/1/2006. {#0989754-I.077826.()()()46-o11 IB8B15G-1 OnU6-00043-01 (2) Pursuant to Section 15.2-2607 of the Code of Virginia of 1950, as amended, there has been filed with the Court a certified copy of (a) a resolution of the Council entitled "RESOLUTION AUTHORJZING THE ISSUANCE OF NOT TO EXCEED $2,100,000 GENERAL OBLIGATION SCHOOL BONDS, SERIES 2006-A, OF THE CITY OF ROANOKE, VIRGINIA, TO BE SOLD TO THE VIRGINIA PUBLIC SCHOOL AUTHORITY AND PROVIDING FOR THE FORM AND DETAILS THEREOF," adopted by the City Council of the City of Roanoke, Virginia, on September 18,2006, and (b) a resolution of the Council entitled "RESOLUTION AUTHORJZING THE ISSUANCE OF NOT TO EXCEED $7,500,000 GENERAL OBLlGA nON SCHOOL BONDS, SERIES 2006-B, OF THE CITY OF ROANOKE, VIRGINIA, TO BE SOLD TO THE VIRGINIA PUBLIC SCHOOL AUTHORITY AND PROVIDING FOR THE FORM AND DETAILS THEREOF," adopted by the City Council of the City of Roanoke, Virginia, on September 18, 2006. WITNESS my hand and seal of the Circuit Court of the City of Roanoke, Virginia, this . crrl 1r- day of September, 2006. CI , Circuit Court of t e City of Roanoke, Virginia [SEAL] {#0989754-1. 077826.()()()46-o1} 1#881150-1 07782.6-0004:1-01 The 18th day, of September" 2006. Resolution No. 37540-091806. [Non-Subsidy] [Monterey] RESOLUTION AlmWRIZING THE ISSUANCE OF NOT TO EXCEED $2,]00,000 GENERAl, OBLIGATION SCHOOL BONDS OF THE CITY OF ROANOKE, VIRGINIA, SERIES 2006-A, TO BE SOLD TO THE VIRGINIA PUBLIC SCHOOL AUTHORITY AND I>ROYIDING FOR THE FORM AND DETAILS THEREOF. WHEREAS, the City Council (the "Council") of the City of Roanoke, Virginia (the "City"), has detennined that it is necessary and expedient to borrow an amount not to exceed 52,000,000 and to issue its general obligation school bonds for the purpose of financing certain capital projects for scboo1 purposes; and WHEREAS, the City helda public hearing, duly noticed, on September lS, 2006, on the issuance of the Bonds (as defined below) in accordance with the requirements of Section 15.2-2606, Code of Virginia 1950, as amended (the "Virginia Code"); and WHEREAS, the Bond Sale Agreement (as defined below) shall indicatc that $2,000,000 is the amount of proceeds requested (the "Proceeds Requested") from the Virginia Public School Authority (the "VPSA") in connection with the sale of the Bonds; and WHEREAS, thc VPSA's objective is to pay the City a purchase price for the Bonds which, in VPSA's judgment, reflects the Bonds' market value (the "VPSA Purchase Price Objective"), taking consideration of such factors as the amortization schedule the City has requested for the Bonds re1ativc to the amortization schedules requested by other localities, the purchase price to be received bv VPSA for its bonds and other market conditions relating to the sale of the \'PSA's - - bonds; and WHEREAS, such factors may result in the Bonds having a purchase price other than par and consequently (i) the City may have to issue a principal amount of Bonds that is greater than or less than the proceeds Requested in order to receive an anlount of proceeds that is substantially equal to the Proceeds Requested, or (ii) if the maximum authorized principal amount of the Bonds set forth in section 1 below does not exceed the Proceeds Requested by at least the amount of any discount, the purchase price to be paid to the City, given the VPSA Purchase Price ObjeCtive and market conditions, will be less than the Proceeds Rcquested. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ROANOKE, VIRGINIA: 1 Authorization of Bouds and Use of Proceeds. The Council hereby detennines that it is {fi09679~O-1. 07722E-0005S-01J advisable to contract a debt and issue and sell its general obligation school bonds in an aggregate principal amount not to exceed 52,100,000 (the "Bonds") for the purpose of financing certain capital projects for school purposes as described in Exhibit B. The Council hercby authorizes the issuance and sale of the Bonds in the fonn and upon the tenns established pursuant to this Resolution. 2 Sale of the Bonds. It is dctemlined 10 be in the best interest of the City to accept the offer of the VP5A to purchase from the City, and to sell to the VPSA, the Bonds at a price, detennined by the VPSA to be fair and accepted by the Mayor and the City Manager, or either of them that is substantially equal to the Proceeds Requested, except that the Bonds may be sold for a purchase price not lower than 95% of the Proceeds Requested if issuing the Bonds in the maximum principal amount authorized by Section 1 of this Resolution is insufficient, given the VPSA Purchase Price Objective and market conditions, to generate an amount of proceeds substantially equal to the Proceeds Requestcd. The Mayor, the City Manager, or either of them and such other officer or officers of the City as either may designate are hereby authorized and directed to enter into a Bond Sale Agreement dated September 27, 2006, with the VPSA providing for the sale of the Bonds to the VPSA The agreement shall be in substantially the fonn submitted 10 the Council at this meeting, which fonn is hereby approved (the "Bond Sale Agreement"). 3 Details of the Bonds. The Bonds shall b,e dated the date of issuance and delivery of the Bonds; shall be designated "General Obligation School Bonds, Series 2006-A"; shall bear interest from thc date of delivery thcreof payable semi-annually on each January 15 and July 15 beginning July 15, 2007 (each an "Intercst Payment Date"), at the rates established in accordance with Section 4 of this Resolution; and shall malure on July 15 in the years (each a "Principal Payment Date") and in the amounts set forth on Schedule I attached hereTO (the "Principal Installments"), subject to the provisions of Section 4 of this Resolution. 4 Interest R:ltes and I'rillcipal Installments. The City Manager is hereby authorized and directed to accept the interest rates on the Bonds established by the VPSA, provided that each interest rate shall be ten one-hundredths of one percent (0.10%) over the interest rate to be paid by the VPSA for the corresponding principal payment date of the bonds to be issued by the VPSA (the "VPSA Bonds"), a portion of the proceeds of which will be used to purchase the Bonds, and provided further that the true interest cost of the Bonds does not exceed five and fifty one- hundredths percent (5.50 '%) per annum. The Interest Payment Dates and the Principal Installments are subject to change at the request of the VPSA The City Manager is hereby authorized and directed to accept changes in the Interest Payment Dates and the Principal Installments at the request of the VPSA, provided that the aggregate principal amount of the Bonds shall not exceed the amount authorized by this Resolution. The execution and delivery of the Bonds as described in Section 8 hereof shall l"Onclusively evidence such interest rates established by the VPSA and Interest Payment Dates and the Principal Installmcnts requested by the VPSA as having been so accepted as authorized by this Resolution. ' {W0967950-:, C77S26-00055-01} 2 5 Form of the Bonds. The Bonds shall be initially in the fonn of a single, temporary typewritten bond substantially in the form attached hereto as Exhibit A. 6 Payment: I'ayinl! Al!ent and Bond Rel!istrar. The following provisions shall apply to the Bonds: (a) For as long as the VPSA is the registered owner of the Bonds, all payments of principal, premium, if any, and interest on the Bonds shall be made in immediately available funds to the VPSA at, or before] ] :00 a.m. on the applicable Interest Payment Date, Principal Payment Date or date fixed for prepayment or redemption, or if such date is not a business day for Virginia banks or for the Commonwealth of Virginia, then at or before 11 :00 a.m. on the business day next preceding such Interest Payment Date, Principal Pa)1TIent Date or date fixed for prepayment or redemption. (b) All overdue pa)1TIents of principal and, to the extent permitted by law, interest shall bear interest at the applicable interest rate or rates on the Bonds. (c) Regions Bank, Richmond, Virginia, is designated as Bond Registrar and Paying Agent for the Bonds. 7 Prepayment or Redemption. The Principal Installments of the Bonds held by the VPSA coming due on or before July ]5, 2016, and the definitive Bonds for which the Bonds held by the VPSA may be exchanged that mature on or before July 15, 2016, are not subject to prepa)1TIcnt or redemption prior to their stated maturities. The Principal Installments of the Bonds held by the VPSA coming due after July 15, 20] 6, and the definitive bonds for which the Bonds held by the VPSA may be exchanged that mature aHer July 15, 2016, are subject to prepayment or redemption at the option of the City prior to thcir stated maturities in whole or in part, on any date on or after July 15, 2016, upon payment of the prepayment or redemption prices (expressed as percentages of Principal Jnslallments to be prepaid or the principal amount of the Bonds to be redeemed) set forth below plus acc.rued interest to the date set for prepa)1nent or redemption: Datc.s Pri ces July ]5, 20]6 through July 14, 2017 July 15, 2017 through July 14, 2018 July 15, 20] 8 and thereafter 101% ]OO~í 100 Provided, however, that the Bonds shall not be subject to prepa)1TIent or redemption prior to their stated maturities as described above without first obtaining the written consent of the VPSA or the registered owner of the Bonds. Notice of any such prepayment or redemption shall be given by the Bond Registrar to the registered owner by registered mail not more than ninety (90) and not less than sixty (60) days before the date fixed for prepayment or redemption. (tC9E7950-1. 077826-000S5-~:) 3 8 Exeeulion of the Bonds. The J\layor or Vice Mayor and the Clerk or any Deputy Clerk of the Council are authorized and directed to execute and deliver the Bonds and to affix the sea) of the City thereto. 9 Pledl!e of Full Faith and Cr¡>dit. For the prompt payment of the principal of, premium, if any, and the interest on the Bonds as the s,une shall become due, the full faith and credit of the City arc hereby irrevocably pledged, and in cach year while any of the Bonds shall be outstanding there shall be levied and collected in accordance with law an annual ad valorem tax upon all taxable property in the City subject to local taxation sufficicnt in amount to provide for the payment of the principal of and premium, if any, and the intcrest on the Bonds as such plincipal, premium, if any, and interest shall become due, which tax shall bc without limitation as to rate or amount and in addition to all other taxes authorized to be levied in the City to the extent other funds of the City are not lawfully available and appropriated for such purpose. 10 Vse of Proce¡>ds Cerlificate lllld Certificate as to Arbitral!e. The Mayor, the City Manager and such other officer or officers of the City as either may designate are hereby authorized and directed to execute a Certificate as to Arbitrage and a Use of Proceeds Certificate each setting forth the expected use and investment of the proceeds of the Bonds and containing such covenants as may be neccssary in order to show compliance with the provisions of the Internal Revenue Code of 1986, as amended (the "Code"), and applicable regulations relating to the exclusion from gioss income of interest on the Bonds and on the VPSA Bonds. The Council covenants on behalf of the City that (i) the proceeds from the issuance and sale of the Bonds will be invested and expended as set forth in such Ccrtificatc as to l..rbitrage and such Use of Proceeds Certificate and that the City shall comply with the other covenants and representations contained therein and (ii) the City shall comply with thc provisions of the Code so that interest on the Bonds and on the VPSA Bonds will rcmain excludable fi'om gioss income for Federal inc.ome tax pUJposes. J] State l"on-Arbitnll!e Program: Proceeds Al!recment. -The Council hereby detennines that it is in the best interests of the City to authorize and direct the City Treasurer to participate in the State Non-Arbitrage Progiam in connection with the Bonds. The Mayor, the City Manager and such officer or officers of the City as either may designate are hereby authorized and directed to execute and deliver a Proceeds Agicement with respect to the deposit and investment of proceeds of the Bonds by and among the City, the other participants in the sale of the VPSA Bonds, the VPSA; the investment manager and the depository, substaJJtially in the form submitted to the Council at this meeting, which fornl is hereby approved. 12 ('ontinuilll! Disclosure Agn>ement. The Mayor, the City Manager and such other officer or officers of the City as either may designate are hereby authorized and directed to execute a Continuing Disclosure Agieement, as set forth in Appendix E to the Bond Sale Agieement, setting forth the reports and notices to be filed by the City and containing such covenants as may be necessary in order to show compliance with the provisions of the Securities and Exchange {#09F7950-:. OÎ7626-000~5-01} 4 Commission Rule 15c2-12, under thc Securities Exchange Act of 1934, as amended, and directed to make all filings required by Scction 3 of the Bond Sale Agreement should the City be detennined by the VPSA to be a MOP (as defined in the Continuing Disclosure Agreement). 13 FiJin!:! of Re~oJution. Thc appropriate officers or agents of the City are hereby authorized and directed to causc a certificd copy of this Resolution to be filed with the Circuit Court of the City. 14 Further Actions. The members of the Council and all officers, employees and agents of the City are hereby authorized 10 take ~uch action as they or anyone of thcm may consider . ~ ... necessary or desirable in conncction with the issuanec and sale of the Bonds and any such action .' - previously taken is hereby ratified and confimled. 15 Effective Date. This Resolution shall take effect immediately. * * * (~G~e~~50.1, OÎ7é26-000=~-Ol) 5 The undersigned Clerk of the City of Roanoke, Virginia, hereby certifies that the foregoing' constitutes a true and correct extract fi·om the minutes of a meeting of the City Council held on September] 8, 2006, and of the whole thereof so far as applicable to the matters referred to in such extract. I hereby further certify that such meeting was a regularly scheduled meeting and that, during the consideration of the foregoing resolution, a quorum was present and that the anendance and voting of the members in allendancc on the foregoing resolution were as follows: Present Absent Aye Nay Abstain C. Nelson Harris, Mayor X X David B. Trinkle, Vice Mayor x X Alfred T. Dowe, ]r. _-..X_ x Beverly T. Fitzpatlick, ]r. X X Shennan P. Lea y. y Gwendolyn W. Mason X Brian]. \Vishneff X X WITNESS MY HAND and the seal of the City of Roanoke, Virginia, thi~J...¡ay of September, 2006. Clerk, City of Roanoke, Virginia tn,~ [SEAL] (~0987950.1, 07ïE2E-CCC~=-úl} 6 EXHffiIT A (FORM OF TEMPOR¡\RY BOND) ~O. TR-] $ t:NITED STATES OF AMERICA COMMO:\'WEALTII OF VIRGINIA CITY OF ROANOKE General Obligation SelIOO) Bond Series 2006-A The CITY OF ROAJ\OKE, VIRGINIA (the "City"), for value received, hereby' acknowledges itself indebted and promises 10 pay to the VIRGINIA Pl1BLlC SCHOOL AUTHORJTY the principal amount of DOLLARS ($ ), in annual inS13l1ments in the amounts sel forth on Schedule I anached hereto payable on July 15, 2007 and annually on July 15 thereafter \0 and including July 15,20_ (each a "Principal Payment Date"), together with interest from the date of this Bond on the unpaid installments, payable semi-annually on Januarv ] 5 and Julv ] 5 of each \'Car, commencin12 on Julv 15. 2007 (each an "Interest Payment - ~ . ..... -" " Date"; together with any Principal Payment Date, a "Payment Date"), at the rates per annum set forth on Schedule 1 anached hereto, subject 10 prepayment or redemption as hereinafter provided. Both principal of and interest on this Bond are payable in lawful money of the United States of America, For as 10n12 as the Vir12inia Public School Authoritv is the re12istered owner of this Bond ........ ,¡.... ' (f1096795C-l, Oï76;:6-(OOO=~~01) Regions Bank, as bond registrar (the "Bond Registrar"), shall make all payments of principal, premium, if any, and interest on this Bond, without the presentation or surrender hereof, to the Virginia Public School l\uthOlity, in immediately available funds at or before 11 :00 a.m. on the applicable Payment Date or date fixed for prepayment or redemption. If a Paymcnt Date or date fixed for prepay~nent or redemption is not a bminess day for banks in the Commonwealth of Virginia or for the ComJ11ùnwealth of Virginia, then the pay~nent of principal, premium, if any, or interest on this Bond shall be made in immediatelv available funds at or before 11 :00 a.m. on the business day next preceding the scheduled Payment Date or date fixed for prepayment or redemption. Upon receipt by the registered o\\~]er of this Bond of said paymcnts of principal, , premium, if any, and interest, wrinen acknowledgment of the reccipt thereof shall be given promptly 10 thc Bond Registrar, and the City shall be fully discharged of its obligation on this Bond to the extent of the payment so made. Upon final payment, this Bond shall be surrendered to the Bond Registrar for cancC]lation. The full faith and credit of thc City arc irrevocably pledged for the payment of the principal of and the prcmium, if any, and interest on this Bond. The resolution adopted by the City Council authorizing the issuance of the Bonds provides. and Section 15.2-2624. Code of Virginia 1950, as amended, requires, that there shall be levied and collected an annual tax upon all taxable property in the City subject to local taxation sufficient to provide for the pa)111ent of the principal, premium, if any, and interest on this Bond as the same shall become due which tax shall be without limitation as 10 rate or amount and shall bc in addition to all other taxes authorized to be levied in the City to the extcnt other funds of the City are not lawfully available and appropriated for such purpose. {#C9879SQ-l, 077e26-0005~-0:) A-2 This Bond is duly authorized and issued in compliance with and pursuant to the Constitution and laws of the Conunonwealth of Virginia, including the Public Finance Act of 1991, Chapter 26, Title 15.2, Codc of Virginia 1950, as amended, and resolutions duly adopted by the, City Council and the School Board of the City to provide funds for capital projects for school purposes. This Bond may be exchanged "'ithout cost, on twenty (20) days written notice from the Virginia Public School Authority, at the office of the Bond Registrar on one or more occasions for one or more temporary 'Donds or definitive hands in marketable form and, in any case, in fully registered form, in denominations of $5,000 and whole multiples thereof, and having an equal aggregate principal amount, having principal installmcnts or maturities and bearing interest at rates corresponding 10 the maturities of and the interest rates on the installments of principal of this Bond then unpaid. This Bond is registered in the name of the Virginia Public School Authority on the books of the City kept by the Bond Registrar, and the transfer of this Bond may be effected by the registered owncr of this Bond only upon due execution of an assignment by such registered owner, Cpon receipt of such assignment and the surrender of this Bond, the Bond Registrar shall exchange this Bond for definitive Bonds as hereinabove provided, such definitive Bonds to be registered on such rcgistration books in the name of the assignce or assignees named in such assignmcnt. The principal installments of this Bond coming due on or before July 15, 2016 and the definitive Bonds for which this Bond may be exchanged that mature on or before July 15,2016, are not subject to prepayment or redemption prior to their stated maturities. The principal installments of this Bond coming due after July 15, 2016, and the definitive Bonds for which this Bond may be (~098Î9~O-1, 077626-00055-01) A-3 exchanged that mature after July 15, 2016, are subject to prepa)lnent or redemption at the option of the City prior to thei~ stated maturities in whole or in part, on any date on or after July 15, 2016, upon pa)111ent of the prepa)TIlent or redemption prices (expressed as percentages of principal installments to be prepaid or the principal amount of the Bonds to be redeemed) set forth below plus accrued interest to the date set for prepa)TIlent or redemption: Dates Prices Julv 15.20]6 through Julv 14. 2017 .' ~ - . Julv 15,2017 through July 14,2018 July 15, 201S and thereafter 101% 1 00~/2 100 Provided, however, that the Bonds shall not be subject to prepa)lnent or redemption prior to their stated maturities as described above without the prior written consent of the registered owner of the Bonds. Notice of any such prepayment or redemption shall be given by the Bond Registrar to the registered lwmer by registered mail not more than ninety (90) and not Jess than sixty (60) days before the date fixed for prepayment or redemption. All acts, conditions and things required by the Constitution and laws of the Commonwealth of Virginia to happen, exist or be performed preccdcnt to and in the issuance of this Bond have hap- pcned, exist and havc been perfonlïed in due time, fOlm and manner as so required, and this Bond, together with all other indebtedness of the City, is within every debt and other limit prescribed by the Constitution and laws of the Commonwealth of Virginia. í#096ï950-1. 07Î826-00C5~-~:} A-4 I~ WIT~ESS WHEREOF, Ihe Cily Council oflhe Cily of Roanoke, Virginia has caused Ihis Bond to be issued in Ihe name of Ihe Cily of Roanoke, Virginia, 10 be signed by ils Mayor or Vice-Mayor, its seal 10 be affixed hereto and anested by Ihe signalure of its Clerk or any of its Deputy CJerks, and Ihis Bond to be dated ,2006. CITY OF VIRGINIA (SEAL) ATTEST: ;>'1ayor, City of Roanoke, Virginia Clerk. Citv of Roanoke, Virginia ~~8~87?:O-1, OíiE26-C0055-Cl} .11.-5 ASSIG:\ME1\T FOR V ALL:E RECEIVED, the undersigned sells, assigns and transfers unto (PLEASE PRINT OR TYPEWRITE NAME A!\TI ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE) PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING ;\IU!\1BER OF ASSIGNEE: the ,,'ithin Bond and irrevocably constitutes and appoints anomey to exchange said Bond for definitive bonds in lieu of which this Bond is issued and to register the transfer of sueh definitive bonds on the books kept for registration thereof with full power of substitution in the premises. Date: Registered O\\~ler ~OTICE: The signature above must correspond with the nanle of the Registered Owner as it appears on the front of this Bond in every particular, without alteration or change.) Si~'11ature Guaranteed: (NOTICE: Sig:n3ture(sì must be guaranteed by an "eligible guarantor institution" meeting the requirements of the, Bond Registrar which requirements will include \1embership or participation in STAMP or such other "signature guarantec program" as may be detcnnined by the Bond Rcgistrar in addition to, or in substinnion for, STAMP, all in accordance with the Sccurities Exchange Act of 1934, as amended. {#C967?50-1, Cì7626-0CO=5-01J A-6 SCHEDULE I City of Roanoke Non-Subsidized Local School Bond Fiscal Principal Rate Interest Total Total 7/15/2007 $100,000 3.800% 557,434.17 $157,434.17 1/15/2008 0 40,125.00 40,125.00 $197,559.17 7/15/2008 100,000 3.800% 40,125.00 140,125.00 1/15/2009 0 38,225.00 38,225.00 178,350.00 7/15/2009 100,000 3.850% 38,225.00 138,225.00 1/15/2010 0 36,300.00, 36,300.00 174,525.00 7/15/2010 100,000 3.850% 36,300.00 136,300.00 1/15/2011 0 34,375.00 ='~,375.00 170,675.00 7/15/2011 100,000 3,850% 34,375.00 134,375.00 1/15/2012 0 32,450.00 32,450.00 166,825.00 7/15/2012 100,000 4.îOO% 32,450.00 132,450.00 1/15/2013 0 30,400.00 30,400.00 162,850.00 7/15/2013 100,000 4.100% 30,400.00 130,400.00 1/15/2014 0 28,350.00 28,350.00 158,750.00 7/15/2014 100,000 4.100% 28,350.00 128,350.00 1/15/2015 0 26,300.00 26,300.00 154,650.00 7/15/2015 100,000 4,100% 26,300.00 126,300.00 1/15/2016 0 24.250.00 24,250.00 150,550.00 7/15/2016 100,000 4.600% 24,250.00 124,250.00 1/15/2017 0 21,950.00 21,950.00 146,200.00 7/15/2017 100,000 4.600% 21,950,00 121,950.00 1/15/2018 0 19,650.00 19,650.00 141,600.00 7/15/2018 100,000 4.350% 19,650.00 119,650.00 1/15/2019 0 17,475.00 17,475.00 137,125.00 7/15/2019 100.000 4.350%:: 17,475.00 117,475.00 1/15/2020 0 15,300.00 15,300.00 132,775.00 7/15/2020 100,000 4.350% 15,300.00 115,300.00 1/15/2021 0 13,125.00 13,125.00 128,425.00 7/15/2021 100,000 ~ .350% 13,125.00 113,125.00 1/15/2022 0 10,950.00 10,950.00 124,075.00 7/1512022 100,000 4.350% 10,950.00 110,950.00 1/15/2023 0 8,775.00 8,775.00 119,725.00 7/15/2023 100,000 4.350% 8.775.00 108,775.00 1/15/2024 0 6,600.00 6,600.00 115,375.00 7/15/202~ ~ 00.000 4.~00% 6,600.00 106,600.00 1/15/2025 0 4,400.00 4,400.00 111,000.00 7/15/2025 100,000 4.400% 4,400.00 104,400.00 1/15/2026 0 2,200.00 2.200.00 106,600.00 7/15/2026 100,000 4.400% 2,200.00 102,200.00 1/15/2027 0 0.00 0.00 102,200.00 7/15/2027 Debt Total 52,000,000.00 5879.834.17 $2,879,834.17 Premium Grand Total 52,000,000.00 Dated Date 11/9/2006 EXHillIT B The proceeds of the Bonds will be used to finance the construction of certain capital improvements and the acq1Jisilion and installation of certain capital equipment for Monterey Elementary School (the "Project"), provided that any proceeds not needed for the Project may be expended on any other capital improvement for school purposes within the City. (H·9Sï9!:.O-1, 07762£:-0005=-0]) \ \ \ " [Monterey VIRGINIA PL'ßLlC SCHOOL AUTHORITY BOND SALE AGREEMENT Name of Jurisdiction (the "Local Unit"): City of Roanoke, Virginia Sale Date: The VPSA Sale Date (expected to be on or about October 11,2006) Closing Date: On or about !\'ovember 9, 2006 Procceds Requested: S2,Ona,00o Maximum Authorized Par Amount: S2, 100,nOO Amortiz.ation Period: 20 years ********************************************************************************* I. The Virginia Public School Authority ("VPSA") hereby otTers to purchase, solely from the proceeds of the VPSA's bonds, your general obligation school bonds at a price, determined by the VPSA to be fair and accepted by you, that, subject to VPSA 's purchase price objeclire and market conditions described below. is subsl<U1tially equal to your Proceeds Requested set forth above (as authorized by your bond resolution). The sale of VPSA's bonds is tentatively scheduled for October 11, 2006 but may occur, subject to market conditions, at any time betwecn October 2, 2006 and October 19.2006 (the "VPSA Sale Date"). You acknowledge that VPSA has advised you that its objective is to pay you a purchase price for your bonds which in VPSA 's judgment renects their market value ( "purchase price o~jeclive ") taking into consideration such factors as the amortization schedule you have requested for your bonds relative to the amortization schedules requested by the other localities for their' respective bonds, the purchase price received by VPSA lor its bonds and other market conditions relating to the sale of the VPSA's bonds. You further acknowledge that VPSA has advised you that such factors mlly result in your honds having a value other than par and that in order to receive an amount of proceeds that is substantially equal to your Proceeds Requested, you may need to issue a par amount of bonds that is greater or less than your Proceeds Requested. '{ou, at the request of VPSA, agree to issue an amount of the local school bonds not in excess of the Maximum Authorized Par Amount to provide, to the fùllest extent practicable given VPSA's f'urchase priCl' ohjeclil'e, a purchase price for your bonds and a proceeds amount that is substantially equal to your Proceeds Requested. You acknowledge that the purchase priee for your bonds will be less than the Proceeds Requested should the \1aximum Authorized Par Amount be insuflìeient, based upon VPSA's purchase price ohjeclil'e, to gencrate an amount of proceeds substantially equal to your Proceeds Requested. 2. 'fou represent that on or before September 27. 2006, your local governing body will have duly authorized the issuance of your bonds by adopting a resolution in the form attached hereto as Appendix B (the "local resolution") and that your bonds will be in the lom1 set forth in the local resolution. Any changes that you or your counsel wish to make to the form of the local resolution and/or your bonds must be approved by the VPSA prior to adoption of the local :,:,,(!t)~7155-!. (17?¡':'2f)-U()(¡5~-(\\ \ n:solution by your local govcrning body. 3. You hereby covenant that you will comply with and carry out all of the provisions of thc Continuing Disclosure Agrccment in thc form attached hcrcto as Appcndix E, which agreemcnt is hereby incorporated by referencc herein and cxprcssly made a part hereof for all purposes. The VPSA has de lined a Matcrial Obligated Pcrson ("MOP") for purposes of thc Continuing Disclosurc Agreement as any Local Issuer thc principal amount of whosc local school bonds pledged under VPSA's 1997 Resolution comprises morc than 10% of thc total principal amount of all outstanding 1997 Resolution bonds. :vIOP status will bc detemlined by adding the principal amount of your local school bonds to be sold to the VI' SA and the principal amount of your local bonds previously sold to the VPSA and currently pledged under VPSA's 1997 Resolution and measuring the total against 10% of the Ihee value of all bonds outstanding as of the Closing Date under VPSA's 1997 Resolution. If you are or may be a MOP, the VPSA will require that you lile all the infomlation described in the following paragraph prior to VpSA's distributing its Preliminary Omcial Statcment, currently scheduled for Octobcr 2, 2006. You acknowledge that if you are, or in the sole judgment ofVPSA may be, a MOP following the issuance of your local school bonds that are the subject of this Bond Sale Agreement, the VPSA will include by specific refercncc in its Preliminary Oflìcial Statements and linal Ollicial Statcments (for this sale and, if you remain a MOP or become a MOP again aner ccasing to be a MOP, for applicable fùture sales) the infomlation respecting you ("Your 1nfomlation") that is on file with the Nationally Recognized Municipal Securitics lntonnation Repositories or thcir respective successors (";\IRMSIRs") and the Municipal Securities Rulemaking Board or its successors ("MSRB"l. Accordingly, if VPSA has determined that you are at any timc a MOP (l) following the delivcry of your local school bonds to the VPSA in connection with this sale, or (11) during the course of any future sale, whether or not you arc a participant in such sale, you hereby reprcscnt and covenant to the VPSA that you will (ile such additional information, ifany, as is required so that Your Information. as of each of (I)(A) thc date of the VpSA's applicable Preliminary Official Statemcnt (in the case of this sale. expccted to be October 2, 2006), (B) the date ofthc VPSA's applicable linal OflìciaJ'Statcment (in the case of this sale, expected to be October 11, 2(06) and (C) the date of delivery of the applicabk VPSA bonds (in the case of this sale, expected to be November 9, 2(06) and (II) such othcr dates associatcd with future sales as VPSA may specify to you, will be true and corrcct and will not contain any untrue statemcnt of a matcrial fact or omit to state a material ¡hct which should be included in Your lnfomlation for thc purpose for which it is included by speeilic referencc in VPSA's oJ1Ïcial statement or which is necessary to make the statements contained in such information, in light of the circumstances undcr which they were made. not misleading. You further agree to tÙll1ish to thc VPSA a copy of all filings you make with NRMS1Rs and thc MSRB subsequent to the datc of this Agreement. Such copy will be furnishcd to the VPSA on or before the day that any such filing is made. The VPSA WIll advise you within 60 days aller the end of caeh fiscal year if you were a MOP as of the end of such liscal year. Upon written rcquest, the VPSA will also advise you of your status as a MOP as of any other date. '{ou hcreby covcnant that you will provide the certificate described in clause (el of Section 4 below if VPSA ineludes Your lnfomlation by spccilic reference in its disclosure documents in connection with this sale or any future sale, whether or llf(J91:\7155-],077X26-UU/J55-01, Sqncrnbl.'r S. 201)6 not you arc a participant in such sale. 4. VPSA's commitment to purchase your bonds is contingent upon (I) VPSA's receipt on the Closing Date of (a) your bonds which shall include and othenvise meet the Standard Tenns and Conditions contained in Appendix A hereto, (b) certified copies of the local rcsolution (scc Appendix B attached hereto), , (c) an executed agreement, among VPSA, you and the other local units simultaneously selling their bonds to VPSA, the depository and the investment manager for the State Non-Arbitrage Program ("SNAP"), providing (or the custody, investment and disbursement of the proceeds of your bonds and the other general obligation school bonds, and the payment by you and the other local units of the allocable, associated costs of compliance with the lntcmal Revenue Code of 1986, as amended, ¡lIld any costs incurred in connection with your participation in Sr-;AP (the "Proeceds Agreement"), (d) an executed copy of the Use of Proceeds Certificate in the form attached hereto as Appendix C, (e) if the VPSA has included by specific reference Your Information into the VPSA Preliminary and final Official Statement: your certificate dated the date of the delivery of the VPSA's bonds to the effect that (i) Your Information was as o[the date oftbe VPSA's Preliminary and final Oftìcial Statements, ami is as of tbe date of the ccrtificate, true and correct ¡lIld did not and docs not contain an untrue statement of a material fact or omit to state a material fact which shonld be included in \. our 1nfol111ation for the purpose for which it is included by specific reference in or which is necessary to make the statements contained in such infol111ation, in light of the circumstances under which they were made. not misleading, and (ii) you have complied with your undertakings regarding the amcndments adopted on November 10, 1994 to Rule] 5e2-12 under the Securities Exehangc Act of 1934. as amended, (f) an approving legal opinion from your bond counscl in tonn satisfactory to VI'SA as to tbe validity of the bonds and the exclusion from gross income for federal and Virginia income tax purposes of the interest on your bonds, the eonlol1nity of the tenns and provisions of your bonds to the requirements of this Bond Sale Agrccmcnt including the appendices attached hereto, and the due authori/.ation, execution and delivery of this Bond Sale Agreement, Continuing Disclosure Agreement and the Proceeds Agrccment, and the validity of the Continuing Disclosure Agrccment and the Proceeds Agrccment, (g) a transcript of the other customary closing documents not listed above, and (h) the proceeds of VPSA's bonds, (11) if you will be using the proceeds of your bonds to retire a bond anticipation note, certificate of participation or other form of interim financing (the "Interim Security"), receipt by VPSA of (a) an opinion of your bond counsel that, as of the Closing Date, the Interim Security will havc been paid in titll or defcased according to thc provisions of thc instrument authorizing the Interim Sccurity (in rendering such opinion bond counsel may rely on a letter or ccrtificate of an acconnting or financial professional as to any mathematical computations necessary for the basis for such opinion) and (b) an executcd copy of the escrow deposit agreemcnt/letter of instruction providing tor the retiremcnt of the Interim Sccurity and (Ill) your compliancc with the rel111S of this agreement. One complete original transcript of the documents listed above shall be provided by your counsel to Sidley Austin LLP. bond counsel to VPSA, on the Closing Date or. with VPSA's permission. as soon as practicable therea[ler but in no event more than thirty (3U) busincss days after thc Closing Date. 5. Subjcct to the conditions described in Section 4 hereto. this Bond Sale Agrecment shall become binding as orthe later o[the VPSA Sale Date and the date you execute this Bond Sale Agreement. ¡;/O\)~71 .:'5-], (Jì7~~()-Ul)(~5·nl : Septcmhl'r l::. :!un(¡ Dated as of September 27.2006 Virginia Public School Authority Name of Jurisdiction: City of Roanoke, Virginia By: Authorized VPSA Representative By: \lame: Darlene L. Burcham Title: City Manager ¡ "'O~~7155·1, 1l77S~('-OOfl55·0 I : Sr..:ptr..:mho.:r R. 21)06 (For information only; not part of the Bond Sale Agreement.) Please have the presiding officer. or other specifically designated agent, of your governing body executc two (2) copies of this Bond Sale Agreemcnt and return them, along with the tax questionnaire attached hereto as Appendix D, no later than close of hnsiness on September 27, 2006 to, Richard A. Davis, Publie Finance :\Iana¡:er, Virginia Public School Authority, P. O. Box IS79, Richmond, Vir¡:inhl 2321S-1879 or by hand or courier service, James Monroe Buildin¡:- 3rd Floor, 101 N. 14th Street, Richmond, Vir¡:inia 23219. Tire VPSA recIJ//Il11e/lds tile IIse IJf all lJI·emigllt deli~'elJ' seM'iæ to ell,WIre timely arrival IJf YIJllr tlIJCllmellts. If your govcrning body or bond counscl rcquires more than one originally signed Bond Sale Agreement, please send the appropriate number; all hut one will be returned at closing. I 'OI)~7155-1, {)77~2(1·(¡t)(t55-U I : Scptl'mbl.:r ~. 2fl06 APPE:'IIDIX A to the Bond Sale A¡:reement STANDARD TERMS AND CONDITIONS D.:scribcd below arc tcrms of thc local school bonds which must be embodicd in your bond re'solution and bond form and othcr l'Onditions which must bc met in order for VPSA to purchase your local school bonds on thc Closing Date. VPSA will not purchase local school bonds unless and until such tenns are present in the related hond resolution and bond form adopted by your goveming hody and such conditions are met. Interest and Principal Payments Your bonds will bear interest (rom the Closing Datel set lorth in the Bond Sale Agreemcnt and will mature on July 15 01" the years and in the amounts as established by VPSA. Your honds will hear interest payable in installments due semiannually on January 15 ,1Ild .July 15. The first principal and interest installments will be payable on July 15, 2007. Your honds will bear intcrcst at rates 10 basis points (0.1 O~ó) above the actual ratcs on VPSA's bonds with corrcsponding principal pa)lTICnt datcs. Pa\,1l1cnt For so long as thc VPSA is thc rcgistcrcd owncr of your bonds, (i) thc paying agcnt and bond rcgistrar thcrefor shall be a bank or trust company qualificd to servc as such. and {t'V/,S:·! dol'S nol purchase your local school honds on Ihe Closing Dale due 10 your ,!iudl. VP.~:,1 will invesl. in dellllllu¡ or ovemight invesllllenls. Ihe alllount of ils bond proceeds 10 he used to purchasc your local school hands. {t'you cure your j(¡ilurc 10 deliver your local school honds within Ihe sixly (60) day period jò/lowing Ihl' Closing Dale. Ihe VPSA will purchase your local school bonds and your bonds will bllar illlaesljimn the dale ofdelil'ery and paYlllent or olher dale salisfaclory 10 Ihe Vp.~:·1. You will. hOll'el'a. he required to pay 10 VP.~:·l at YOUI' actual closing an all/OUIII equal to the ¡wsitivc difference. it' any, be/ll'{!en the alllOllll1 of in Ie res I thaI would have accmed on youl'local school hOlllll'ji'olll the Closing Dale 10 your aClllal closing dale aud the "!ssel' oflhe illllOUnt ofinlerl'sl incolI/e V/,S:·! l\'il.l· ahle to eam. during such period, frOIl/ the inveSlll/elll 0/ its bond procl'eds pending Iheil' use 10 purchase YOUI' honds and Ihe al'hilrage yield on Ihe VPS:4 '.1' bonds. :,¡n'}l'itl'¡.")-I lI77ð:!I¡-UOO::'-ll} ¡ Scph:rnbcr ~, :!O!l(l (ii) all payments of principal, premium, if any, and interest shall be madc in funds that shall be immediately available to the VPSA on or before 11 :00 A.M. on the applicable interest or principal payment date, or date fixed for prepayment or redemption, or if such date is not a business day for banks in Virginia or for the Commonwealth, then on or before 11 :00 A.M. on the business day preceding such scheduled due date. Overdue pa)111ents of principal and, to the extent pennilted by law, imerest shall bear interest at the applicable interest rates on your bonds. Prepayment or Redemptio~ Bonds will be subjcct to redemption at the option of your governing body, subject to the consent of the VPSA or other registered owner. Your bond resolution shall provide lor prepayment or redemption as follows: The bonds maturing afier July 15, 2016 arc subject to optional prCpa)111ent or redemption prior (0 maturity by the issuer, from .lIlY available moneys, in whole or in parL on any date on or aHer .I uly 15, 2016, at the following prepayment or redemption prices on the following prepayment or redemption dates, plus aeemed interest to the date fixed lor prepayment or redemption: Dates Priee July 15,2016 through July 14,2017 July 15,2017 through July 14.2018 .I uly 15, 2018 and thereafier 101% I OO~/2 100 l'rovided, however, that the bonds shall not be sub.ieet to prepayment or redemption prior to their respective maturities except with the prior written consent of the registered owner. Kotiee of any such prepa)111ent or redemption shall be given to the registered owner by registered mail at least 60, but not more than 90, days prior to the date lixed [or prepayment or redemption. : ~lil)SÓ"'JI}-l. 077:~(~{I.(JO()55-(lll Scpll'mb~r g, ~(Jnfl 2 Security Your bonds must constitute valid and binding gcneral obligations for thc payment of which the full tàith and lTedit of the local unit are irrevocably plcdgcd, and all taxab1c propcrty withinthc boundarics of the local unit must be subject to the levy of ,U1 ad valorem tax, over and above all other taxes and without limitation as to rate or amount, for the payment of the principal of, ami prcmium, if any, and interest on the bonds to the extent other funds of the local unit are not lawfully available ,U1d appropriated for such purpose. Tax Matters You shall complete the Questionnaire attached hereto as Appendix D to the Bond Sale Agreement and send alon~ with the Bond Sale Agreement for receipt no later than the close of business on September 27, 2006 to Richard A. Davis, l'ublic Finance Mana~er, Virginia Public School Authority, either at 1'.0. Box 1879, Richmond, Vir~inia 23218-1879 or if delivered by hlmd to the James :\lonroe Bnilding- 3rd Floor, 10] N. ]4th Street, Richmond, Virginia 23219. You shall execute the Use of Proceeds Certificate in the fonn provided in Appendix C attachcd to thc Bond Sale Agreement for receipt by the VPSA at least three business days prior to the Closing Date.2 1\0 Composite Issue ·You will covenant not to sell, without VPSA's consent, any general obligation bonds whicb are part of the same common plan of financing (and payable from the same source of filllds) as your local school bonds, during tbe period beginning 15 days in advance of and ending 15 days aller the VPSA Sale Date. As noted in the Bond Sale Agreement, the VPSA Sale Date is expectcd to be on or about October 11, 20nG but. subject to market conditions. may occur any time between Octob~r 1, 20nG and October 19, 200G. Binding Commitment Subject to the satisfaction of the conditions in Section 4 of the Bond Sale Agreement. the Bond Sale A¡''feement shall constitute a binding commitment of the Local Issuer to sell its Local School Bonds to VPSA as of the later of the VPSA Sale Date and the date the Local Issuer , VPSA reqllires Ihallhe Use of Proceeds Cerlijìcale he execlIled separalelyjro1// the tax cali/ieliles prepared by YOllr bOlld COlllISel. YOllr hOlld cOllllselmay also prepare aile or mure tax cerlifìclitl's Ihlit cOlllaill some illforma/iollfolllld ill the Use of Pruceeds Cenificale ill additiolllo iI~(or1//lilioll sllch as YOllr reasullahle expectlitiollS as 10 medillg Ihe re'llIiremellls 10 allY o.(lhe rehale excepliolls. : J:UI)SI)"¡':;').[, (l7!X2(¡-U(¡l}.:'5-Ull 8cp(crnb~r 8. 2((/f) 3 executes the: Bond Sale Agreement. Public ¡!carinI( and Notice Before the final authorization 0[" your issuance of the bonds by the governing body, the governing body must I:old a public hearing on the proposed issue unless the: issuance of such bonds has been approved at referendum. The notice of the hearing, meèling the require:ments of Section 15.2-261)(" Code of Virginia 1950. as amended, must be published once a week for 2 successive weeks (notices at least 7 days apart) in a newspaper published or having general circulation in your locality. The public hearing may not be held less th,m 6 nor more than 21 days allcr the date the second notice appears in the newspaper. Deliverv VPSA will accept delivery of your honds onlv in the form of a single. typewritten, temporary bond, in registered ["orm, payablc to VPSA. The form of the bond is included as Exhibit A to the n:solution in Appendix B to the Bond Sale Agreement. On 20 days written notice ["rom VPSA, you agree to deliver, at your expense, in exchange for the typewritten bond, on one or more occasions, one or more temporary bonds or definitive bonds in marketable form and, in any case, in tìllly registered ["ol1n. in denominations of $5,000 and whole multiples thereof, and having the same aggregate principal amount and accruing interest at the same rates as the bonds surrendered in exchange, as requested by VPSA. Comprehensive Annual Financial Report Annually lor the life of your bonds. you will be required to submit a copy of your locality's Comprehensive Annual Financial Report ("CAFR") or annual audited tìnancial statements to the rating agencies referenced below: \1oody's Investors Service, Inc. Public Finance Department Attention: Robert Kurtter l)l) Church Street New York, New York 10007 Fitch Ratings Governmental Finance Attention: Riehard.l. Raphael One State Street Plaza New York, New York 10004 l:;:(J')l:i(¡-13'J-I. U77l\.:!IH)I)o55-(JI Sl"pLLmIK'r x, ~Ol)(¡ 4 [:-.Jon-Subsidy] [Monterey] APPE:"lDlX B to the Bond Sale Agreement Resolution 1\0. RESOLUTION AUTHORIZING THE ISSUANCE OF "'"0'1' TO EXCEED S2,100,000 GDIERAL OBLIGATlO:"l SCHOOL BOl'iDS OF THE CITY OJ. ROAl'iOKE, VIRGIl'iIA, SERIES 2006-A, TO BE SOLD TO THE VIRGIl'iIA PUBLIC SCHOOL AUTHORITY Al'iD PROYJl)I:'IIG FOR THE FORM MiD DETAILS THEREOF. "WHEREAS, the City Council (the "Council") of the City of Roanoke, Virginia (the "City"), has determined that it is necessary and expedient to borrow an amount not to exceed $2.00'0,000 and to issue its general obligation school bonds for the purpose of financing certain capital projects lor school purposes; and '"",- WHEREAS, the City helda public hearing, duly noticed, on September IS, 2006, on the issuance of the Bonds (as defined below) in accordance with the requirements of Section 15.2-2606, Code of Virginia 1950, as amended (the "Virginia Code"); and WHEREAS, the Bond Sale Agreement (as defined helow) shall indicate that S2,OOO,OOO is the amount of proceeds requested (the "Proceeds Requested") from the Virginia Public School Authority (the "VPSA") in connection with the sale of the Bonds; and WHEREAS, the VPSA's objective is to pay the City a purchase plicc for the Bonds which, in VPSA's jud¡pnent, retleets the Bonds' market value (the "VPSA Purchase Price Objective"). taking consideration of such tàetors as the amortization schedule the City has requested for the Bonds relative to the amortization schedules requested by other localities, the purchase price to be received by VPSA for its bonds, and other market conditions relating to the sale of the VPSA's bonds; and WH EREAS, such factors llIay result in the Bonds having a purchase price other than par and consequently (i) the City llIay have to issue a principal amount of Bonds that is greater than or less than the Procceds Requested in order to receive an amount of proeecds that is substantially equal to the Proceeds Requested, or (ii) if the maXilllLUlI authorized principal amount of the Bonds set fonh in section 1 below docs not exceed the Procccds Requested by at least the amount of any discount, the purchase price to be paid to the City, given the VI'SA Purchase Price Objective ¡U1d i;!Yj~,r .~,; 1, :)7";'87.(· ·(';)(;:·5-:)],) B-1 Scptcmb..:r ~, ~úf)/J m~rket conditions, will be less than the Proceeds Requested. "lOW, THEREFORE. BE IT RESOLV~:t) BY THE CITY COlJNCIL OF THE CITY OF ROANOKE, VIRGINIA: I Anthoriz~tion of Bonds and Use of I}roceeds. The Council hereby detemlines that it is advisable to contract a debt and issue and sell its general obligation school bonds in an aggregate prineip~1 ~mount not to exceed 52,100,000 (the "Bonds") for the purpose of fimllleing certain eapit~1 projects for school purposes as described in Exhibit B. The Council hereby authorizes the issuance and sale of the Bonds in the form and upon the terms established pursuant to this Resolution. 2 Sale of the Bonds. It is detemlined to be in the best interest of the City to accept the otìer of the VPSA to purchase Irom the City, and to sell to the VPSA, the Bonds at a price, determined by the VPSA to be fair and accepted by the Mayor and the City Manager, or either of them that is substantially equal to the Proceeds Requested. except that the Bonds may be sold lor a purchase price not lower than 95% of the Proceeds Requested if issuing the Bonds in the maximum principal amount authorized by Section I of this Resolution is insufficient, given the VPSA Purchase Price Objective and market conditions. to generate an amount of proeceds substantially equal to the Proceeds Requested. The Mayor, the City Man~ger, or either of them ~nd such other ollieer or officers or the City as either may designate arc hereby authorized and din:ded to enter into a Bond Sale Agreement d~ted September 27, 2006, with the VPSA pro\iding lor the sale or the Bonds to the VPSA. The ~greelllent shall be in substantially the lorm submitted to the Council at this meeting. which form is hereby approved (the "Bond Sale Agri.'Clllelll"). 3 Details of the Honds. The Bonds shall be dated the date of issuance and delivery of the Bonds; shall be designated "General Obligation School Bonds, Series 2006-A"; shall bear interest 'rom the date of delivelY thereof payable semi-annually on each January 15 and July 15 beginning July 15,2007 (each an "Interest PaYl11ent Date"). at the rates established in accordance with Section 4 of this Resolution; and shall mature on July 15 in the years (each a "Principal PaYl11ent Date") and in the amounts set forth on Schedule 1 ~ttaehed hereto (the "Principal Installments"), subject to the pro\'isions of Section 4 or this Resolution. 4 Interest Rates and Principallnstallmenls. The City Manager is hereby authorized and directed to accept the interest rates on the Bonds established by the VI'S^, provided th~t each interest rate shall be ten one-hundredths of one percent (0.1 O'!Ó) over the interest rate to be paid by the VPSA Ii)" the corresponding principal p~yment date or the bonds to be issued by the VPSA (the "VPSA Bonds"), a portion of the proceeds of which will be used to purchase the Bonds, and provided further that the true interest cost of the Bonds docs not exceed live and fifty one- hundredths percent (5.50 ~íl) per annum. The Interest Payment Dates and the Principal Installments are subject to change at the request or the VPSA. The City \1anager is hereby authorized and {!rt:~~!ï.l6':; :, (:i";'t;'/.t) j:)I~:·5..~";} B-2 Sl'rtcmhcr 11. lo()/) directcd to accept changes in the Interest Payment Datcs and the Principal Installmcnts at the reqnest of the VPSA, provided that thc aggrcgatc principal amount of the Bonds shall not exceed the amount authorizcd by this Rcsolution. Thc execution and delivcry of [hc Bonds as described in Section 8 hereof shall conclusivcly evidence such interest rates established by the VPSA and Interest Pa~1llent Dates and the Principal Installments requested by the VPSA as having been so accepted as anthorized by this Resolution. 5 Form of the Bonds. The Bonds shall be initially in the form of a single, temporary typewritten bond substantially in the loml attached hereto as Exhibit A. 6 Payment; Payinl! Al!ent and Bond Rel!istrar. The following provisions shall apply to the Bonds: (a) For as long as the VPSA is the registered owner of the Bonds, all payments of principal, premium. if any, and interest on the Bonds shall be made in immediately available funds to the VPSA at, or before 11 :00 a.m. on the applicable Interest Payment Date, Principal Payment Date or date fixed for prepayment or redemption. or if such date is not a business day for Virginia banks or for the Commonwealth of Virginia, then at or before 11 :00 a.m. on the business day next preceding such Interest Payment Date, Principal Payment Date or date fixed for prepayment or redcmption. (h) All overdue pa}lnents of principal and, to the extent permitted by law, interest shall bear interest at the applicable interest rate or rates on the Bonds. (c) Rcgions Bank, Richmond, Virginia, is designated as Bond Registrar and Paying Agent [or the Bonds. 7 )repayment or Redemption. The Principal Installments of thc Bonds held by the VPSA eoming due on or belore July 15.2016, and the definitive Bonds lor which the Bonds held by the VPSA may be exchanged that mature on or before .lull' 15, 2016, are not subject to prepayment or redemption prior to their statcd maturities. The Principal Installments of the Bonds held hy the VPSA coming due after July 15, 201G, and the definitive bonds for whieh the Bonds hcld by the VPSA may be exchanged that maturc ancr .lull' 15,2016, arc subject to prepayment or redemption at the option of the City prior to thcir stated maturities in whole or in patt, on any date on or alkr July 15,2016, upon pa}1llent of the prepayment or redemption prices (expresscd as percentages of Principal Installrllcnts to be prepaid or the principal amount of thc Bonds to be redeemed) set forth below plus aeerued intercst to the date set tor prepayment or redemption: Dates Priecs July 15,2016 through July 14, 2017 July 15,2017 through July 14,2018 July 15,2018 .U1d thereafter 101% 100\/, 100 !4C?8~lG~-:, (:17~:t-~CO~~-~:¡ B-3 Sl:plCll1blT R, ~((¡ó Provided, however, that the Bonds shall not be subject to prepayment or redcmption prior to their stated maturitics as dcscribed above without first obtaining the written consent of the VPSA or the registered owncr of the Bonds. \lotice of any such prepayment or redemption shall be given by the Bond Registrar (ü the registered owner by registered mail not more than ninety (90) ami not less than sixty (60) days before the dak fixed for prepayment or redemption. 8 Execution of the Bonds. The Mayor or Vice \1ayor and the Clerk or any Deputy Clerk of the Council arc authorized and directed to execute and deliver the Bonds and to anix the seal of the City thereto. 9 Pledge of Full Faith and Credit. For the prompt payment of the principal of, premium, i I' any, and the interest on the Bonds as the same shall become duc, the full fàith and credit of the City are hereby irrevocably pledged, and in each year while imy of the Bonds shall bc outstanding there shall be levied and collected in accordance with law an annual ad valorcm tax upon all taxable propel1y in the City subject to local taxation sufficient in amount to provide for the payment of the principal of and premium, if any, and the interest on the Bonds as such principal, premium, if any. and interest shall become due, which tax shall be without limitation as to rate or amount and in addition to all other taxes authorized to be levied in the City to the extent other funds of the City arc not lawlillly available and appropriated for such purpose. 1 I) Use of Proceeds Ccrtitic:lte and Certificate as to Arbitrage. Thc Mayor, the City Manager and such other officer or officers of the City as either may designatc arc hereby authorized and directed to execute a Certificatc as to Arbitrage and a Usc of Proceeds Certificate each setting forth the expected use and investment of the proceeds of the Bonds and containing such covemUlts as may be necessary in order to show compliance with the provisions of the In(ernal Revenue Code of 1986, as amended (the "Code"), and applicable regulations relating to the exclusion from gross income of interest on the Bonds and on the VPSA Bonds. The Council covenants on behalf of (he City that (i) the proceeds from the issuance and sale of the Bonds will be invested and expended as set forth in such Certi ficate as to Arbitrage and such Use of Proceeds Certificate and that the City shall comply with the other covenants and representations contained therein and (ii) the City shall comply with the provisions of the Code so that interest on the Ronds and on the VPSA Bonds will remain excludable from gross income for Federal income tax purposes. 11 State !'ion-Arbitrage Program; Proceeds Agreement. The Council hereby determines that it is in the best interests of the City to authorize and direct the City Treasurer to participate in the State Non-Arbitrage Program in connection with the Ronds. The Mayor. the City Manager and such officer or officers of the City as either may designate arc hereby authorized and directed to execute and deliver a Proceeds Agreement with respect to the deposit and investment of proceeds of the Bonds by and among the City, the other participants in the sale of the VPSA Bonds. the VPSA, the investmcnt manager óUld the depository, substantially in the form submitted (0 the Council at this meeting. which form is hereby approved. 1~(9E71[1-:. (~775~0-0C~~~-~1~ B-4 Scph:mbcr ~, ~OfJ(, 12 Contilluinl! Disclosure Al!reement. The Mayor. the City Manager and such other officer or oflìeers of the City as either may designate arc hereby authorized and directed to exeeutc a Continuing Disclosure Agreement. as set forth in Appendix E to the Bond Sale Agrcement, sClling lorth the reports and notices to be liled by the City and containing such covcnants as may he necessary in order to show compliance with the provisions of the Seeuritics and Exchange Commission Rule 15e2-12. under the Securities Exchange Act of 1934, as amended, and directed to make all filings required by Section 3 of the Bond Salc Agreemcnt should the City be dctennined by the VI'SA to be a MOl' (as defined in the Continuing Disclosure Agreemcnt). 13 Fililll! of Resolution. The appropriatc officers or agcnts of the City are hereby authorized amI directed to cause a certified copy of this Resolution to he liled with the Circuit Court ofthc City. 14 Further Actions. The membcrs of thc Council and all ol1icers, employees and agcnts of the City are hereby authorized to takc such action as they or anyone of thcm may consider necessary or desirable in connection with the issuanec and sale of the Bonds and any such action previously taken is hcrcby ratified and eontìnned. 15 Effective Ilate This Rcso1ution shall take effect immediately. * * * l !11:::~·2.-!16'~ _, r:7;.:.:;:G<'GG~~·_·):'} 8-5 Septemhcr ~, ,20011 The undcrsigncd Clerk of thc City of Roanokc, Virginia, hereby ccrtifics that thc forcgoing constitutcs a mlc .1IId corrcct cxtract from thc minutes of a meeting of the City Council held on September 1 S. 2006. and of thc whole thercof so far as applicable to the matters refcrreù to in such extract. I hercby furthcr ccrtify that such meeting was a regularly scheduled mccting and that, during the consideration orthe loregoing resolution, a t¡uonUll was prcscnt anù that the attendance and voting of the mcmbers in attendance on the foregoing resolution were as follows: W1T!\ESS MY HAND and the seal of the City of Roanoke. Virginia. this Scptcmber. 2006. day of Clerk, City of Roanoke, Virginia [SEAL] {r.'~'~~è'!104 !,,;773::'(-Q'-::~15:· 02.; 8-6 Septt'TlIncr S. 20U6 EXHIBIT A (FOR\1 OF TEMPORARY BOND) 1\0. TR-I $ UNrnm STATES OF AMERICA COMMONWEALTH OF VIRGI~IA CITY OF ROA~OKE General Obligation School Bond Series 2006-A The CITY OF ROANOKE, VIRGIi\IA (the "City"), tor value received, hereby acknowledges itsell" indebted and promises to pay to the VIRGIi\IA PUBLIC SCHOOL AlTHORIT\" the principal amount of ........ ._. ...._..h..__ DOLLARS ($ ), in annual installments in the amounts set forth on Schedule I attached hereto payable on July 15, 2007 and annually on July 15 thereafìer to and including July 15. 20_ (cach a "Principal Payment Date"), together with interest from the date of this Bond on the unpaid installments, payable semi-annually on January 15 and July 15 oreaeh year, commencing on July 15,2007 (each an "Interest Payment Date"; together with any Principal Payment Date, a "Pa)lllent Date"), at the rates per annum set torth on Schedule I attached hereto, subject to prepayment or redemption as hereinatìer provided. Both principal of and interest on this Bond arc payahle in lawful money or the United States of America. :. i~ .J'., S .,':' :=;''; .)7¡ 22 S·- 0~1'~ :::.~j -.):"} A-I Seplt:mbcr S. ~()O(, For as long as the Virginia Public School Authority is the registered owner of this Bond, Rcgions Bank, as bond registrar (the "Bond Registrar"), shall make all paymcnts of principal, premium, if any. and interest on this Bond, withoul the presentation or surrender hereof, to the Virginia Public School Authority, in immcdiately available funds at or before II :00 a.m. on the applicablc Payment Date or date fixed for prepaymcnt or redemption. I f a Payment Date or date fixed for prepaYlnent or redemption is not a business day for banks in the Commonwealth of Virginia or for the Commonwealth of Virginia, then the payment of principal, premium, if any, or interest on this Bond shall be made in immediately available funds at or before 11 :00 a.m. on the business day next preceding the scheduled Payment Date or date fixed tor prepayment or redcmption. Lpon receipt by the registered owner of this Bond of said payments of principal, prcmium, if any, and interest, written acknowledgment of the receipt lhereof shall be given promptly to the Bond Registrar, and the City shall be fully discharged of its obligation on this Bond to thc extenl of the paymenl so made. Upon final payment, this Bond shall be surrendered to thc Bond Registrar lor cancellation. The full faith and credit of the City are irrevocablyplcdged for the payment of the principal of and the premium. if any, and interest on this Bond. The resolution adopted by the City Council authorizing the issuance of the Bonds provides, and Section 15.2-2624, Code of Virginia 1950, as amended, requires, that there shall be levied and collected an annual tax upon all taxable property in the Cily subject to local taxation sufficient to provide lor the payment of the principal, premiulll, if any, and intcrest on this Bond as the sallle shall become due which tax shall be without limitation as to rate or amount and sh;¡1l be in addition to all other taxes authorized to be levied in the City to the tJi(~ê~iE'1-:::', '.:7ì·S::6 8(;~5:'-Gl; A-2 Sl'ptt'lllhl'r 8. ~OOf¡ ~xt~nt other funds of the City arc not lawfully available and appropriated for such purpose. This Bond is duly authorized and issued in compliance with and pursuant to the Constitution and laws of the Commonwealth of Virginia, including the Public Finance Act of 1991, Chapter 26. Title 15.2, Code of Virginia 1950. as amended, and resolutions duly adopted by the City Council and the School Board of the City to provide lìmds for capital projccts for school purposes. This Bond may be exchanged without cost, on twenty (20) days wril1en notice from the Virginia Public School Authority, at the office of the Bond Registrar on one or more occasions for one or more temporary bonds or delÏnitive bonds in marketablc tom1 and, in any case, in fully registl'red tonll. in denominations of $5,000 and whole multiples thcrcof: and having an equal aggn:gate principal amount, having principal installments or maturities and bearing interest at rates corresponding to thc maturities of and the interest rates onthc installments of principal of this Bond then unpaid. This Bond is registered in the name of the Virginia Public School Authority on thc books of the City kept by the Bond Registrar. and the transfer of this Bond may be effccted by the registered owner of this Bond only upon due execution of an assignment by such registered owner. Upon receipt of such assignment and the surrender of this Bond, the Bond Registrar shall exchange this Bond tor detinitive Bonds as hereinabove provided. such delÏnitive Bonds to bc registered on such registration books in the name ofthc assignee or assignees named in such assignment. The principal installments of this Bond coming due on or before July 15, 2016 and the delÏnitive Bonds for which this Bond may bc exchanged that mature on or bcJore July 15,2016, are not subject to prepayment or redemption prior to their stated maturities. The principal installments ~i!:~S.\~'~6'; 1, :::"!'!¿'::.6 ö.'"·~!'.::'J<;l} A-3 Scpll'mhcl" S, 2UU( of this Bond coming duc after July 15,2016, and the definitive Bonds for which this Bond may be exchanged that mature after July 15,2016, arc subject to prepa)1llent or redemption at the option of the City prior to their stated maturities in whole or in part, on any date on or aller July 15, 2016. upon payment of the prepa)111ent or rcdemption prices (expressed as percentages of principal installments to be prepaid or the principal amount of the Bonds to be redeemed) set forth below plus accrued interest to the date set for prepa)111ent or redemption: Dates Prices July 15, 2016 through July 14, 2017 July 15, 2u17 through July 14, 2018 July 15, 2018 and thereafter 101% IOO~í 100 Provided, however, that the Bonds shall not be subject to prepayment or redemption prior to their stated maturities as described above without the prior written consent of the registered owner of the Bonds. Notice of any such prepayment or redemption shall be given by the Bond Registrar to the registered owner by registered mail not more than ninety (90) and not less than sixty (60) days before the date lixed lor prepayment or redemption. All acts. conditions and things required by the Constitution and laws of the Commonwealth of Virginia to happen, exist or be perfomled precedent to and in the issuance ofthis Bond have hap- pened, exist and have been performed in due time, form and mmmer as so required, and this Bond, together with all other indebtedness of the City, is within every debt and other limit prescribed by the Constitution and law, of the Commonwealth of Virginia. IN WIT:"IESS WIIEREOF, the City Council of the City of Roanoke, Virginia has caused this Bond to be issued in the name of the City of Roanoke, Virginia, to be signed by its Mayor or {_09871~·1-1. O"¡"!bJ6 Or05~-Gl? A-4 S"plcl11l:1cr x, ."!(JO{l Viœ-Mayor, its seal to be affixed hereto and attested by the signature of its Clerk or any of its Deputy Clerks, and this Bond to be dated '., .2006. CITY OF VIRGINIA (SEAL) ATTEST: Clerk, City of Roanoke, Virginia \1ayor, City of Roanoke, Virginia {q0~a'/l~4 ¡. ~77g2E-C08~~ Cl~ A-5 S"ph:mhl'f H. ~((Jh ASSIGN:\1El'iT fOR VALUE RECEIVED, the undersigned sells, assigns and translèrs unto --... ..-.....-.--- (PLEASE PRINT OR TYPEWRITE NA\1E AND ADDRESS. IT\CLUDTNG Zß) CODE, OF ASSIGNEE) PLEASE NSERT SOCIAL SECURIT'{ OR OTHER IDENTIF'r'lNG NUMBER OF ASSIGNEE: the within Bond and irrevGcahly constitutes and appoints attorncy to cxchange said Bond for definitivc bonds in lieu of which this Bond is issucd and to register thc transfer of such definitive bonds on thc books kept for registration thereof, with full powcr of substitution in the premises. Date: Signaturc Guaranteed: Registered Owner (NOTICE: Thc signature above must corrcspond with the name of the Registered Owner as it appcars on the front of this Bond in every particular, without alteration or change.) (I\OTlCE: Signature(s) must be guaranteed by an "eligible guarantor institution" meeting the requirements of the Bond Registrar which requiremcnts will inelude Membcrship or participation in STAM P or such othcr "signaturc guaranke program" as may be dctermined by the Bond Registrar in addition to, or in suhstitution for, STAMP, all in accordance with the Sccurities Exchange Act of ] 934. as amended. :!';·~'.:''''16.',-::', 8;72:::6 C;:jC:-:'~; :"):J A-6 Sqncrnber H. 211lJú SCHEDULE I City of Roanoke Non-Subsidized Local School Bond Fiscal Principal Rate Interest Total Total 7/15/2007 S 1 00,000 3,800% $57,434.17 $157,434.17 1/15/2008 0 40,125.00 40,125.00 $197,559.17 7/15/2008 100.000 3.800% 40,125.00 140,125.00 1/15/2009 0 38,225.00 38,225.00 178,350.00 7/15/2009 100,000 3.850% 38,225.00 138,225.00 1/15/2010 0 36,300.00 36,300.00 174,525.00 7/15/2010 100,000 3.850% 36,300.00 136,300.00 1/15/2011 0 34,375.00 34.375.00 170,675.00 7/15/2011 100,000 3.850% 34,375.00 134,375.00 1/15/2012 0 32,450.00 32,450.00 166,825.00 7/15/2012 100,000 4.100% 32,450.00 132,450.00 1/15/2013 0 30,400.00 30,400.00 162,850.00 7/15/2013 100,000 4.100% 30,400.00 130,400.00 1/15/2014 0 28,350.00 28,350.00 158.750.00 7/15/2014 100,000 4.100% 28,350.00 128,350.00 1/15/2015 0 26,300.00 26,300.00 154,650.00 7/15/2015 100,000 4.100% 26,300.00 126,300.00 1/15/2016 0 24,250.00 24,250.00 150,550.00 7/15/2016 100,000 4.600% 24,250.00 124,250.00 1/15/2017 0 21,950.00 21,950.00 146.200.00 7/15/2017 100,000 4.600% 21,950.00 121,950.00 1/15/2018 0 19,650.00 19,650.00 141,600.00 7/15/2018 100,000 4.350% 19,650.00 119,650.00 1/15/2019 0 17,4 75.00 17,475.00 137,125.00 7/15/2019 100,000 4.350% 17,475.00 117,475.00 1/15/2020 0 15,300.00 15,300.00 132,775.00 7/15/2020 100,000 4.350% 15,300.00 115,300.00 1/15/2021 0 13,125.00 13,125.00 128,425.00 7/15/2021 100,000 4.350% 13,125.00 113,125.00 1/15/2022 0 10,950.00 10,950.00 124,075.00 7/15/2022 100,000 4.350% 10,950.00 110,950.00 1/15/2023 0 8,775.00 8,775.00 119,725.00 7/15/2023 100,000 4.350% 8,775.00 108,775.00 1/15/2024 0 6,600.00 6,600.00 115,375.00 7/15/2024 100,000 4.400% 6,600.00 106,600.00 1/15/2025 0 4,400.00 4,400.00 111,000.00 7/15/2025 100,000 4.400% 4,400.00 104,400.00 1/15/2026 0 2,200.00 2,200.00 106,600.00 7/15/2026 100,000 4.400% 2,200.00 102,200.00 1/15/2027 0 0.00 0.00 102,200.00 7/15/2027 Debt Total $2,000,000.00 S879.834.17 $2,879,834.17 Premium Grand Total $2,000,000.00 Dated Date 11/9/2006 EXHIBIT ß Thc proceeds of the Bonds will be uscd to financc thc construction of certain capital improvements and the acquisition and installation ofccrtain capital cquipmcnt for Montcrcy Elcmcntary School (thc "Projcct"), provided that any proceeds not needed for the Projcctmay bc expcndcd on any othcr capital improvcmcnt for school purposes within the City. lJ\1onterey) APPENDIX C to the- Bond Sale Agreeme-nt USE OF I}ROCEEDS CERTIFICATE FOR N~:W :\-lONEY The $.__ General Obligation School Bonds, Series 2006-A (the "Bonds") issued by the City of Roanoke, Virginia (the "Issuer") will be purchased by the Virginia Public School Authority CVPSA") from the proceeds of the VPSA's $_.____..__,_ School Financing Bonds (1997 Resolution), Series 2006 B (the "VPSA's Bonds"), pursuant to a Bond Sale Agreement dated as of September 27.2006. The proceeds of the Bonds will be used to acquire, construct and equip public school facilities owned and/or operated by the school board for the Issuer (the "School Board"). The Issuer and the School Board each recognize that certain facts, estimates and representations set forth in the Certificate as to Arbitrage executed by VPSA in connection with the issuance of the VPSA's Bonds must be based on the representations and certifications of the Issuer and the School Board, upon which VPSA and Sidley Austin LLP. its bond counsel ("Bond Counsel") rely, and that the exclusion from gross income tar federal income tax purposes of the interest on the VPSA's Bonds depends on the use of proceeds of the VPSA's and the Issuer's Bonds. Accordingly, the Issuer and the School Board hereby covenant that: Section I. Description of Proieet. The proceeds of the Bonds. including investment income thereon ("proceeds"), will be used to finance the acquisition. construction, and equipping of public school facilities of the Issuer (the "Project"). Section 2. Governmental Use of Proceeds. The Issuer and the School Board covenant the fallowing with respect to the use of proceeds of the Bonds and the facilities tinan,'ed therewith: (a) In General. (i) Private Business Use. No more than ten percent (10%) of the proceeds of the Bonds or the Project (based on the greatest of: (A) the cost allocated on the basis of space occupied, (B) the fair market value, or (C) the actual cost of construction) has been or, so long as the Bonds are outstanding. will be, used in the aggregate for any activities that constitute a "Private Use" (as such term is defined below in subsection (d) of this Section 2). (ii) Private Security or Payment. No more than ten percent (10%) of the principal of or interest on the Bonds, under the tenns thereof or any underlying arrangement, has been. or, so long as the Bonds are outstanding, will be, directly or indirectly, (A) secured by any interest in (I) property used for a Private Use or (TT) payments in respect of such property or (B) derived from payments in respect of property used or to be used for a Private Use, whether or not such property is a part of the Project. I/109S?.:!] \.], 077S26-UUU:'5-(JI le-l (b) No D;sproportionate or Unrclated Use. With respect to private business use disproportionate to or not related to govemmental use financed or refinanced with the proceeds of the Bonds, no more than five percent (5'~,'í,) of the principal of or interest on such Bonds, under the tenns thereof or any underlying arrangement, has been, or, so long as the Bonds are outstanding, will be, directly or indirectly, (x) secured by any interest in (I) property used for a Private Use or (11) payments in respect of such property or (y) derived from payments in respect of property used or to be used for a Private lise, whether or not such property is a part of the Project. (c) 1\0 Private Loan Financing. 1"0 proceeds of tbe Bonds will be used to make or linanee loans to any person other than to a state or local governmental unit. (d) Delinition of Private Lise. For purposes of this Certificate. the tenn "Private Use" means any activity that constitutes a trade or business that is carried on by persons or entities other than state or local governmental entities. Any activity carried on by a person other than a natural person is treated as a trade or business. The leasing of property linanced or relinanced with (he proceeds of the Bonds or the access of a person other than a state or local governmental unit to property or services on a basis other than as a member of the general public shall constitute Private Use unless the Issuer obtains an opinion of Bond Counsel to the contrary. Use of property linaneed or refinanced with proceeds of the Bonds by any person, other than a state or local governmental unit. in its trade or business constitutes general public use only if the property is intended to be available and is in fact reasonably available for use on the same basis by natural persons not engaged in a trade or business ("General Public Use"). In most cases Privute Lise will occur only if a nongovernmental person has a special legal entitlement to use the linaneed or refinanced property under an arrangement with the Issuer or thl' School Board. Sucil a special legal entitlement would include ownership or actual or benelieial use of the Project pursuant to a lease, management or incentive payment contract, output contract, research agreement or similar arrangement. In the case of property that is not available for General Public Use, Private Use may be established solely on the basis of a special economic benefit to one or more nongovernmental persons. In detennining whether special economic benelit gives rise to Private Use, it is necessary to consider all of the facts and circumstances, including one or more of the following factors: (i) whether the financed or relinaneed property is functionally related or physically proximate to property used in the trade or business of a nongovernmental person; (ii) whether only a small number of nongovernmental persons receive the economic benelit: and (iii) whether the cost of the financed or refinanced property is treated as depreciable by the nongovernnlental person. As of the date hereof. no portion of the Project is leased (or will be so leased) by the Issuer or the School Board (or a related party or agent) to a person or entity other than a state or local governmental unit 0.. to members of the general public for General Public Use. :#lJ():=:7~] 1-1. r/77H:!(i-(f(t;'iS-OI: C-2 (c) Mana~ement and Service Contracts. With respect to management and service contracts, the determination of whcther a particular use constitutes Private Usc under this Certificate shall be determined on the basis of applying Revenue Procedure 97-13, 1997-1 e. B. 632, as modified by Revenue Procedure 2001-39, 2001-2 e.B. 38 (collectively, "Revenue Procedure 97-13"). As of the date hereof, no portion of the proceeds derived from the sale of the Bonds is being used to finance or refinance property subject to contracts or other arrangements with persons or entities engaged in a trade or business (other than governmental units) that involve the management of property or the provision of services with respect to property linaneed or refinanced with proceeds of the Bonds that does not comply with the standards of Revenue Procedure 97-13. For purposes of determining the nature of a Private Use, any arrangement that is properly characterized as a lease for federal income tax purposes is treated as a lease. Consequently, an arrangement that is referred to as a management or service contract may nevertheless be treated as a lease. In determining whether a management contract is properly characterized as a lease, it is necessary to consider all of the facts and circumstances, including the following factors: (i) the degree of control over the property that is exercised by a nongovernmental person; and (ii) whether a nongovernmental person bears risk of loss of the financed or refinanced property. Section 3. Time Test ami Due Diligence Test. The Issuer or the School Board have incurred or will incur within ó months of the date hereof substantial binding obligations, which arc not subject to contingencies within the control of the Issuer or the School Board or a related party, to third parties to expend at least 5(~·ú of the net sale proceeds of the Bonds on the Project. The Issuer and the School Board will proceed with due diligence to spend all of the proceeds of the Bonds within three years of the date hereof. Section 4. Dispositions and Change in Use. (a) No Sale or Disposition. The Issuer and the School Board expect to own and operate and do not exp,",et to sell or otherwise dispose of the Project, or any component thereof, prior to the final maturity date of the VPSA's Bonds (August I, [20_J>. (b) 1\0 Chan~e in Use. The Issuer and the School Board represent, warrant and covenant that the tàeilities (inanced or refinanced with proceeds of the Bonds will be used for the governmental purpose of the Issuer and the School Board during the period of time the Bonds arc outstanding, unless an opinion of Bond Counsel is received with respect to any proposed change in use of the Project. Section 5. No Sinking or Pledged Funds. The Issuer and the School Board have not established and will not establish any filllds or accounts that are reasonably expected to be used to pay debt service on the Bonds or that arc pledged (including negative pledges) as collateral for the Bonds for which there is a reasonable assurance that amounts on deposit therein will be a\'ailable to pay debt service on the Bonds if the Issuer or the School Board encounters financial diflieulty. :;';/)".lS72I 1-I.077S211-1)l)f)55-01IC-3 Section 6. No Replacement Procceds. (a) In Gencral. No portion of the procccds of the Bonds will be uscd as a substitute for other funds that prior to thc Issucr's rcso1ving to procccd with the issuance of the Bonds was used or is to be used to pay any cost of the Project. (b) Safe Harbor. In accordancc with Scction 1.148-1(c) of the Treasury Regulations regarding the sale harbor against the creation of "replacement procccds", as of the datc hcrcof, thc wcightcd avcragc maturity of thc Bonds does not exceed 120% of the reasonably expected economic life of the Project financed thercby. Section 7. 1\0 Refunding. The proceeds of thc Bonds will not be uscd to provide lor the payment of any principal of or interest on any obligations of the Issuer. other than the Bonds, incurred in the exercise of its borrowing power. Section 8. Composite Issue. Except for the Issuer's General Obligation School Bonds, Series 200(j-B, there arc no other obligations of the Issuer that have been, or will be (a) sold within 15 days of VPSA's Bonds, (b) sold pursuant to the same plan of finaneing together with the Bonds, and (c) paid out of substantially the same source of funds as the Bonds. Scction'), 1\0 Fcderal Guarantcc, The Issuer and the School Board shall not take or permit any action that would cause (a) the paymcnt of principal of or interest on the Bonds to bc guarantced, dircctly or il'.dircctly, in whole or in part hy the United Statcs or any agency or instrumentality thcreof or (b) 5 perccnt or morc of thc procceds of the Bonds to bc (i) uscd in making loans thc payment of principal of or interest on which is guarantccd in whole or in part by tbe United States or any agcncy or instrumcntality thcrcof or (ii) invested dircctly or indirectly in federally insured deposits or accounts (except as pennitted under Section 149(b) of the Internal Revenue Code of 1986, as amended (the "Code"), or the regulations promulgated thereunder). The Issuer and thc School Board have not, and will not entcr into, any (i) long-tenu service contract with any federal govcrnmcntal agcncy, (ii) service contract with any federal govcrnmcntal agcncy under tenus that are materially different from the tenus of any contracts with any persons other than federal governmcnt agcncics, and (iii) lease of propcrty to any federal govcrnmcnt agency that would cause the Bonds to bc considered "federally guar.mteed" within the meaning ofSeclion 14<)(b) of the Code. Section 10. No Hedl!e Bonds. The Issuer and the School cach rcasonably expects that all of the net sale procecds oftbe Bonds will be used to pay the cost of the Project within three years of the date bereof. Furthermore, not more than 50 percent of the proceeds of the Bonds will be invested in Nonpurpose Investments (as such term is defined in Section 148(t)(6)(A) of the Code) having a substantially guaranteed yield for four years or more. Section 11. "Jo Overissuance. The total proceeds derived by the Issuer li'om the sale of the Bonds and anticipated investment earnings thereon do not exceed the total of the amounts nl'eessary to linanee the Project. Scction 12. Reimbursablc Expenses. A portion of the proceeds of the Bonds to be applied to the cost of the Project will be used to reimburse the Issuer for expenditures incurred thereby with respect to the Project in anticipation of the issuance of thc Bonds. The Issuer and lr,ü9~7:!J I-I. 077S2tl-UUU,55-fll fC-4 the School Board represent the f'ollowing with rcspect to thc costs ofthc Projcctto bc reimburscd from thc procceds of the Bonds. (a) Onicial Intcnt. The total amount of reimbursed costs incurred by the Issuer with respect to the Project is not expectcd to cxcccd $533,297. Such cxpenditurcs wcrc paid prior to the date hercof but no carlicr than sixty (60) days prior to April 17,2006. which is the date the Issuer or the School Board adopted its "ollkial intent" declaration (thc "Official Intent Declaration") in accordance with Scction 1.150-2 of the Treasury Regulations. The Omcial Intent Declaration: (i) was, on the date of its adoption, intended to constitute a written documentation on behalf of the Issucr that statcs that the Issuer reasonably expected to reimburse itself for such expenditures with the proceeds of a taxable or tax-exempt borrowing, (ii) set forth a general description of the Project, and (III) statcd thc maximum principal amount of debt expected to be issued f'or the Project. l\'either the Issuer nor the School Board has taken any action subsequcnt to the expression of such intent that would contradict or otherwise be inconsistent with such intent. (b) Reasonable Omcial Intent. As of the date of the Ofticia1 Intent Declaration. the Issuer reasonably expected to reimburse such expenditures with the proceeds of a borrowing. The Issuer does not have a pattern of failing to reimburse expenditures for which an intention to reimburse such expenditures was declared and which were actually paid by the Issuer other than in cireumstances that were unexpected and beyond the control of the Issuer. (c) Reimbursemcnt Period Rcquircmcnt. The procccds dcrived from the sale of the Bonds to be applied to rcimbursc the above-described expenditures will be so applied no later than the later of the date that is (i) eighteen (I S) months after the date on which the expenditure being reimbursed was paid. or (ii) eighteen (18) months afier the date on which the portion of the Project to which such expenditure relates was placed in service (within the meaning of Section 1.150-2 of the Treasury Regulations) or abandoned. The Issuer shall not. however. use Bond proeeeds to reimburse the above,-described expenditures later than three (3) years afier the date the original expenditure was paid. (d) Reimbursable Expenditures. The expenditures to be reimbursed are either (i) capital expenditures (within the meaning of Seetion 1.150-1 (b) of the Treasury Regulations), (ii) eosts of issuance, (iii) certain working capital expenditures for extraordinary, nonrecurring items that are not customarily payable from current revenues (within the meaning of Section 1.148-6 (d) (3) (ii) (B) of the Treasury Regulations), (iv) grants (within thr meaning of Section 1.148-6 (d) (4) of the Treasury Regulations), or (v) qualified student loans, qualified mortgage loans or qualified veterans' mortgage loans (within the meaning of Section l.150-1(b) of the Treasury Regulations). None of the ¡","UIl<i7~ II-I. 077~~6-0011:;:'-UlIC-5 expenditures to b-: reimbursed werc incurred for day-lo-day operating costs or similar working capital itcms. No portion of the procccds of the Bonds being uscd to reimburse the Issuer for prior expenditures will be used, directly or indirectly, within one year of the date of a reimbursement allocation, in a manner that results in the creation of replaecment proceeds (within the meaning of Seetion 1.148-1 of the Treasury Regulations), other than amounts deposited in a bona fide debt scrvice fund. (e) Anti-Abuse Rules. None of the proeecds of the Bonds is being used in a manner that employs an abusive arbitrage deviee under Seetion 1.148-10 of the Treasury Regulations to avoid the arbitrage restrictions or (0 avoid the restrictions under Sections 142 through 147 of the Code. Section 13. Private Activitv Covenants. The Issuer and the School Board each represents, warrants and c,ovcnants that it will take no aetion that would cause either the Bonds or the VPS;\'s Bonds to be private activity bonds within the meaning of Section l41(a) of thc Code and that it will not làil to takc any action that would prcvcnt the VPSA's Bonds and the Bonds from being private activity bonds, within the meaning of Section 141(a) of the Code. Furthermore. the Issucr and thc School Board have established rcasonable proccdurcs to ensure compliancc with this covenant. Section 14. Covenant as to Arbitral!e. Thc Issuer and the School Board each represcnts. warrants and covenants thm whether or not any of thc Bonds rcmain outstanding, the money on deposit in any fund or account maintained in conncction with the Bonds, whether or not such money was dcrivcd from the proceeds of the sale of the Bonds or from any other sources, will not be used in a manner that would causc the Bonds or the VPSA's Bonds to be "arbitrage bonds" within the meaning of Scction 148 of the Code and the applicable regulations thereunder. Scction 15. Tax Covenant. The Issucr and the School Board cach reprcscnts, warrants and covenants that it will not takc any action which will, or fail to take any action which failure will, cause the interest on the Bonds or the VPSA's Bonds to become includable in the gross income of the owncrs of the Bonds or the VPSA's Bonds for fedcral income tax purposes pursuant to thc provisions of the Code and the regulations promulgated thereunder in effect on the date of original issuance of the Bonds and the VPSA's Bonds. IUOI)~7211-]. 077R~(I.(ln()5:'-(l] ¡C-6 Date: CITY OF ROANOKE, VIRGINIA By: :'\lame: Darlene L. Burcham Title: City Manager SCHOOL BOARI> OF THE CITY OF ROA:"/OKE, VIRGINIA By: Name: David B. Carson Title: Chairman lrt(.Il87~11-1, U77S2o-ll(jU:':'-Ul:C-7 APPENDIX D to the Bond Sale Agreement COl'\STRUCTlO~ EXCEPTION AND EIGHTEE:"l-MONTH EXCEPTION TO TIlE REBATE REQUIRE:\1ENT QUESTIONNAIRE The purpose of this questionnaire is to elicit facts concerniug the expenditure of the proceeds of the City of Roanoke, Virginia (the "Issuer") general obligation school bonds (tht:: "Bonds") in order to make an initial determination that the construction exception from the rebate requiremeut provided by Section J48(f)(4)(C) of the Internal Revenue Code of 1986, as amended, or the eighteen month exception from the rebate requirement provided by Section J.I48-7(d) of tht:: Treasury Regulations is available. Please supply the information requested below and send this questionnaire to Richard A. Davis, Public Finance Manager, Virginia Public School Authority, P. O. Box 1879, Richmond, Virginia 23218-1879, for receipt no later September 27,2006, with a copy to your bond counsel. 1. Brieny describe the project (the "Project") to be financed with the procet::ds of the Bonds including the useful life of the project(s) being financed. 2. (a) Indicate the total amount ofpTOceeds to be derived from the sale of the Bonds. (b) Indicate the amount that you reasouab1y expect to receive fTom the investment of the Bond proceeds prior to spending all of the Bond proceeds set torth above in Question 2 (a). (c) 'Indicate the amount of proceeds derived from the sale of the Bonds that you expect to use to finance the issuance costs of the Bonds. (e.g. your legal fees) (d) The amount 3et forth in Questions 2(a) plus the amount set forth in Question 2(b) jfrO%6-14-l-I. /)77~26-(0055-011 reduced by the amount set forth in Question 2( c) equals $ . This amount is hereinafter referred to as "Available Constmetion Proceeds". Any bond premium derived from sale of the bonds aud any investment earnings thereon will be treated as Available Construction Proceeds. 3. Indicate the amount of money, other than the Available Constmction Proceeds of thc Bonds, that will be applied toward the cost of the Project and the expected souree of such money. Indicate what such money \vill be used for. 4. Indicate, by principal components, your current estimates of the cost for the acquisition and construction of (he Project that will be financed with the Available Constmetion Proceeds of the Bonds, including: (a) Acquisition of Interest in Land (bi Acquisition of Interest in Real Propertyl (c) Acquisition and/or Installation , of Tangible Personal Property'" (d) Site Preparation (e) Construction of Real Property (I) Reconstruction of Real Propertl (g) Rehabilitation of Real Property (h) Construction of Tangible Personal Pro pert/ (i) Special/v developed computer - , software' (j) Interest on the Sonds during Constmction (k) Other (please specify) $ (I) Total $ (Note: The sum of the amounts described in (a) through (k) must equal the amount of Available Construction Proceeds of the Bonds set forth in Question2(d).) 1-7 Sl'C the Endnotes 011 page's (")-7 anù D-~. {#(:?8(~4·1-1! Scplember 5. 2UU6 0-2 5. (a) Have you borrowed, directly or indirectly, (such as through an industrial developmeTJt authority) any money. either through a tax-exempt bank loan, a bond anticipation note, any lax-exempt or taxable obligation or otherwise (a "loan"), to pay for the Project costs? Yes No (b) Do you intend to use the proceeds of the Bonds to refinance or repay any loan used to finance the Project costs? Yes No (c) If the answer to Question 5(b) is "Yes", please attach a copy of the BAN, COP, or other evidence of the loan and any tax certificate executed with such loan and indicate the following: (i) Amount ofloan: (ii) Date ofloan: (iii) Maturity date ofloml: (iv) Interest rate ofloml: (v) Name of lender: (vi) Refinance or repayment date: (vii) Amount of unspent proceeds, if any: (viii) Where unspent proceeds arc being held (e.g. SNAP): (d) I[the answer to question 5(a) or (b) is "Yes", did you use the proceeds of the loan to reimburse yourself for expenses paid with respect to the Project before the loan was obtained'? Yes No (c) Irthe answer to question 5(b) is "Yes", do you expect [0 qualifY for the slllall issuer exception for the loan. 6. (a) Do you intend to reimburse yourself from the proceeds of the Bonds for Project costs advanced from your General Fund or'other available sources'? Yes No (:IrC'?Sf.44.J 1: September 5. 2U06 0-3 (b) If the answer to Question 5(d) or Question 6 (a) is "Yes", with respect to all such expenditures, please indicatc thc amount of such expenditure, when such expenditure was paid and the purpose of the expenditure (i.e.. architectural fecs, engineering fees, other construction costs): (i) Amount expended S (ii) Date of expenditure: (iii) Purpose of expcnditure: (Note: if you intend to reimburse yourself for more than one expenditure, please altach a rider selling torth: (i) amount expended, (ii) date of expenditure. and (iii) purpose of cxpenditure) 7. ¡fthe answer to Qucstion 5(d) or 6(a) is "Yes" pleasc attach a copy of any other evidence of your intention to reimburse yourself with the proceeds of a borrowing such as the earliest possible resolution, declaration or minutes of a meeting. Include thc datc such resolution was adopted. meeting was held or declarationmadc. [The purpose of questions 8, 9 and 10 is to determine if the Bonds may qualify for the Construction Exception from the Rebate Requirement.1 S. Indicate whether thc total of the amounts shown in 4(d) through (i) on page 0-2 is at least 75~o of thc mnounl of Available Construction Proceeds (i.e., 75% of thc amount in 4(i). Ycs No ¡fthe answer to QuestionS is "Yes", answer Question 9 and skip Question 10. If the answer to Q¡;estion S is "No", skip Qucstion 9 and answer Question 10. 9. (a) Assuming the Bonds are delivered on ~ovell1ber 9, 2006 and funds arc madc available to you on that date. please complete the following schedule indil'ating the anlOunt of Available Construction Proceeds that the City/County cxpccts to expend mld disburse during the following time periods: From November 9,2006 to May 9,2007 S_ From May 10,2007 to November 9,2007 From November 10,2007 to May 9, 200S From May 10,2008 to November 9. 200S Tota19 S 8 ¡.¡ anJ Q See the r:ndnotes on page 1>-8. (*0~ef.444 ·-1:- Seplember 5, 21)1)6 0-4 (b) If you do not expect to spend 100'% of Available Construction Proceeds by November 9. 200S, do you expect to spend 100% of Available Construction Proceeds bv Kovembct' 9, 2009? Yes No 10. For purposes of this Question 10, assume that thc Bonds arc delivered on November 9, 2006 and funds are made available to you on that datc. (a) Docs (hc City/County expect to expend and disburse the atnow¡t shown in Question 4(a) for the acquisition ofland by May 9, 200T? '{es No (b) Does the City/County expect to expend and disburse the amount shown in Question 4(b) for the acquisition of interests in real property by May 9, 200T! Yes No (c) Dœs the City/County expect to expend and disburse the amount shown in Question 4(e) lor the acquisition and/or installation of tangible personal Property by May 9, 2007? Yes No (d) (i) Docs the City/County expect to expend and disburse the amount shown in question 4(1) by November 9, 2009? Yes No (ii) Assuming that the Bonds are delivered on May 11, 2006, and funds arc madc available to you on that date, please complete the following schedule indicating the amount of Available Construction Proceeds that the City/County expects to expend and disburse during the following time periods: From November 9. 2006 to May 9,2007 From May 10,2007 to November 9,2007 From Kovember 10,2007 to May 9,2008 from May 10, 200S to November 9, 200S $ ]0 Total S 10 See the Endnotes on page D-S. {t,C'986<1'~r..-: } September 5. 2UU6 D-5 (The purpose of question 11 is to determine if the Bonds ma)' qualify for the Eighteen Month Exception from the Rebate Requirement.) 11, The sum of the amounts set forth in Questions 2(a) and 2(b) equals $ (the "gross proceeds"), Assuming that the Bonds are delivered on November 9, 2006 and funds are made avai lablc to you on that date, please complete the following schedule indicating the amount of gross proceeds (hat the City expects to expend and disburse during the following time periods: From November 9, 2006 to May 9, 2007 $ From May 10, 2007 to November 9, 2007 From November 10, 2007 to May 9, 200S Total S 12. (a) Will this issue qualify for the Small Issuer Exception? Yes No (b) List any general obligation bond Iinancings lhe City has undertaken or is planning to undertake in the calendar year 2006. I understand that the foregoing information will be rclicd upon by the Virgj¡¡ja Public School Authority (the "Authority") in detenllining the applicability of the construction exception to the Authority's School Financing Bonds (1997 Resolution), Series 2006 B 1 hereby certify that I am familiar with the Project or have made due inquiry in order to complete this Questionnaire with respect to the Project and am authorized by the City to provide the foregoing infonnation with respect to it, which information is tme, correct, and complete. to the best of my knowledge. I Include amounts expended prior to November 9, 2006 and approved by your bond counsel for reimbursement from your bond proceeds, This docs not include any amount used to refinance or repay any loan. ~ #(!98E444 I) September 5, 2006 0-6 (#0986444.< ) D-7 Kenneth L. Mundy. .TI". Name of Person Completing Questionnaire Director for Fiscal Services Title Signature Date September 5. 2006 ENDNOTES I. For purposes of this questionnaire, "real property" mcans improvemcnts to land, such as buildings or other inherently permanent structures, including items that are structural components of such buildings or structures. For cxamp1e, real property includes wiring in a building, plumbing systcms, central hcating or ccntra1 air conditioning systcms, pipes or ducts, elevators or cscalators installed in a building, paved parking areas, road, wharves and docks, bridges and sewage lines. 2. For purposes of this questionnaire, tangible personal property means any tangible property except real property. For example, tangib1c personal properly includcs machinery that is not a structural component of a building, school buscs, automobiles, office equipment, tcsting equipment and furnishings. 3. See description of real property in endnote 1. This includes all capital expenditures that are properly chargeablc to or may be capitalized as part of the basis of the real property prior to the date the property is placed in service. For purposes of this questionnaire, expenditures are considered paid in connection with the construction, reconstruction or rehabilitation of real propcrty if the contract betwccn the Issuer and the seller requircs the seller to build or install the propCrly (such as under a "turnkcy contract") but only to the extcnt the property has not been built or installed at the time the parties enter into the contract. If the properly has been partially built or installed at thc time the parties enter into the contract, thc expenditures that arc allocable to the portion of the propCrly built or installed before that time are expenditures for the acquisition of rcal property. 4. Scc endnote 3. 5. See endnotc 3. 6. For purposes of this questionnaire, expenditures are m conncction with the construction of tangible personal property, as defined in endnote 2, if: (a) A substantial portion of the propcrty or properties is completcd morc than 6 months aflcr the earlier of thc date construction or rehabilitation commenced and the date the Issuer entered into an acquisition contract; (b) Bascd on the reasonab1c expectations of the Issucr, if any, or representations of the person constructing the properly, with the exercise of due diligence, completion of construction or rehabilitation (and dclivery to the Issuer) could not have occurred within that G-month period; and (c) If thc Issuer itself builds or rehabilitates the property, not more than 75% of the capita1izable cost is attributable to property acquired by the Issuer (e.g., components, raw materials and other supplies). ; '!r'::'~&6444· 1; Sepl<mber 5, 2006 D-8 7. Specially dcveloped computcr soJìware mcans any programs or routincs llsed to cause a computer to perfoml a dcsired task or set of tasks, and thc documentation required to dcscribe and maintain those programs, provided that thc soJìware is spccially developed and is functionally relatcd and subordinate to real properly or other constructed personal properly. 8. Inelude amounts expendcd prior to November 9, 2006 and approved by your bond counsel for reimbursement from your bond proceeds. This docs not include any amount used to refinance or repay ¡my loan. 9. Total should equal the anlount in 4(1). ] O. Include amounts expended prior to November 9, 2006 and approved by your bond counsel for reimbursement from your bond proceeds. This does not include any amount used to refinance or repay any loan. (I¡Ü?864O::4-:) - September 5, 20U6 D-9 APPE"'DIX E to the Bond Sale Agreement CONTINUI:'I'G DISCLOSURE AGREEMENT [This Continuing Disclosure Agreement will impose obligations on the Local Issuer if and only if the Local Issuer is or has become and remains a "Material Obligated Person", as defined below] This Continuing Disclosure Agreement (the "Disclosure Agreemenl") is executed and delivered by the undersigned local issuer (the "Local Issuer") in connection with the issuance by the Virginia Public School Authority (the "Authority") of $ aggregate principal amount of its School Financing Bonds (1997 Resolution) Series 2006 B (the "Series 2006 B Bonds") pursuant to the provisions of a bond resolution (the" 1997 Resolution") adopted on October 23, 1997, as amended and restated. The Series 2006 B Bonds and all other parity bonds heretofore and hereafter issued under the 1997 Resolution are collectively called the "Bonds". A portion of the proceeds of the Series 2006 B Bonds are being used by the Authority to purchase certain general obligation school bonds ("Local School Bonds") of the Local Issuer pursuant to a bond sale agreement between the Authority and the Local Issuer (the "Bond Sale Agreement"). Pursuant to paragraph 3 of the Bond Sale Agreement, the Local Issuer hereby covenants and agrees as tollows: SECTION 1. Pumose of the Disclosure Agreement. This Disclosure Agreement is being executed and delivered by the Local Issuer for the benefit of the holders of the Series 2006 B Bonds and in order to assist the Participating Underwriters (defined below) in complying with the Rule (detined below). The Local Issuer acknowledges that it is undertaking primary responsibility for any reports, notices or disclosures that may be requirt.'d under this Agreement. SECTION 2. Definitions. In addition to the definitions set forth in the 1997 Resolution, which apply to any capitalized term used in this Disclosure Agreement unless otherwise defined in this Section, the following capitalized terms shall have the following meanings: "Annual Report" shall mean any Annual Report provided by the Local Issuer pursuant 10, and as described in, Sections 3 and 4 of this Disclosure Agrl.'Cment. "bond sale agreement" shall mean the Bond Sale Agreement and any other comparable written commitment of the Local Issuer to sell local school bonds to the Authority. "Disseminalion Agent" shall mean the Local Issuer, acting in its capacity as Dissemination Agent hereunder, or any successor Dissemination Agent designated in writing by such Local Issuer and which has filed with such Local Issuer a written acceptance of such designation. ''filing Date" shall have the meaning given to such term in Section 3(a) hereof. "Fiscal Year" shall mean the twelve-month period at the end of which financial position litl)l!Hi)445-1. U77826-00055·01 : F-l and results of operations are determined. Currently, the Local Issuer's Fiscal Year begins July 1 and continues through June 30 of the next calendar year. "holder" shall mean, for purposes of this Disclosure Agreement, any person who is a record owner or beneficial owner of a Series 2006 B Bond. "Listed Events" shall mean any of the events listed in subsection 5(b)(5)(i)(C) of the I{ule. "local school bonds" shall mean any of the Local School Bonds and any other bonds of the Local Issuer pledged as security for Bonds issued under the Authority's 1997 Resolution. "Material Obligated Person" (or "MOP") shall mean the Local Issuer if it has local school bonds outstanding in an aggregate principal amount that exceeds 10% of the aggregate principal amount of all outstanding Bonds of the Authority. "National Repository" shall mean any Nationally Recognized Municipal Securities Information Repository for purposes of the Rule. "Participating Underwriter" shall mean any of the original underwriters of the Authority's Series 2006 B Bonds required to comply with the Rule in connection with the offering of such Bonds. "Repository" shall mean each National Repository and each State Repository. "Rule" shall mean Rule 15c2-12 adopted by the Securities and Exchange Commission under the Securities Exchange Act of 1934, as the same may be amended from time to time. "State Repository" shall mean any public or private depository or entity designated by the State as a state depository for the purpose of the Rule. As of the date of this Agreement, there is no State Repository. SECTION 3. Provision of Annual Reports. (a) The Local Issuer shall, or shall cause the Dissemination Agent to, provide to each Repository an Annual Report which is consistent with the requirements of Section 4 of this Disclosure Agreement. Such Annual Report shall be filed on a date (the "Filing Date") that is not later than 12 months after the end of any Fiscal Year (commencing with its Fiscal Year ended June 30, 2006) as of the end of which such Local Issuer was a MOP, unless as of the Filing Date the Local Issuer is no longer a MOP.' Not later than ten (10) days prior to the Filing Daw, the Local Issuer shall provide the Annual Report to the Dissemination Agent (if applicable) 1 The Authority will covenant in the Bond Sale Agreement to advise the Local Issuer within 60 days of the end of each Fiscal Year if such Local Issuer was a Material Obligated Person as of the end of such Fiscal Year. Upon written request, the Authority will also advise the Local Issuer as to its status as a MOP as of any other date. 1#0'186445-1. 077826-00055-0 II 1'-2 and shall provide copies to the Authority. In each case, the Annual Report (i) may be submitted as a single document or as separate documents comprising a package, (H) may cross-reference other information as provided in Section 4 of this Disclosure Agreement and (iH) shall include the Local Issuer's audited financial statements prepared in accordance with applicable State law or, if audited financial statements are not available, such unaudited financial statements as may be required by the Rule. In any event, audited financial statements of such Local Issuer must be submitted, if and when availah1e, together with or separatcly from the Annual Report. (b) If the Local Issuer is unable to provide an Annual Report to the Repositories by the date required in subsection (a), the Local Issuer shall send a notice to the Municipal Securities Rulemaking Board and any State Repository in substantially the form attached hereto as Exhibit A. SECTION 4. Content of Annual Reports. Except as otherwise agreed, any Annual Report required to be filed hereunder shall contain or incorporate by reference, at a minimum, annual financial information relating to the Local Issuer, including operating data, (i) updating such information relating to the Local Issuer as shall have been included or cross-referenced in the final Official Statement of the Authority describing the Authority's Series 2006 B Bonds or (ii) if there is no such information described in clause (i), updating such information relating to the Local Issuer as shall have been includcd or cross-referenced in any comparable disclosure document of the Local Issuer relating to its tax-supported obligations or (Hi) if there is no such information described in clause (i) or (H) above, initially setting forth and then updating the information referred to in Exhibit B as it relates to the Local Issuer, all with a view toward assisting Participating Underwriters in complying with the Rule. Any or all of such information may be incorporated by reference from other documents, including official statements of securities issues with respect to which the Local Issuer is an "obligated person" (within the meaning of tile Rule), which have been filed with each of the Repositories or the Securities and Exchange Commission. If the document incorporated by reference is a final official statement, it must be available from the Municipal Securities Rulemaking Board. The Local Issuer shall clearly identify each such other document so incorporated by reference. SECTION 5. Reoorting of Listed Events. Whenever the Local Issuer is a Material Obligated Person required to tile Annual Reports pursuant to Section 3(a) hereof and obtains knowledge of the occurrence of a Listed Event, and if such Local Issuer has determined that knowledge of the occurrence of a Listed Event with respect to its local school bonds would be material, such Local Issuer shall promptly file a notice of such occurrence with each National Repository or the Municipal Securities Ru1emaking Board and each State Repository, if any, with a copy to the Authority. 1#0986445-1.077826-000;5-01 } F-3 SECTION 6. Alternative Filing. The Local Issuer may, in lieu of tiling with the Repositories and each State Repository the Annual Reports and other notices referred to in Sections 3(a). 3(b) and 5 hereof, make such filings with DisclosureUSA, the central post office of the Municipal Advisory Council of Texas. SECTION 7. Termination of Reporting Obligation. The Local Issuer's obligations under this Disclosure Agreement shall terminate upon the earlier to occur of the legal defeasance or final retirement of alllhe Local School Bonds. SECTION 8. Dissemination Agent. The Local Issuer may, from time to time, appoint or engage a Dissemination Agent to assist it in carrying out its obligations under this Disclosure Agreement and may óischarge any such Agent, with or without appointing a successor Dissemination Agent. The Local Issuer shall advise the Authority of any such appointment or discharge. If at any time there is not any other designated Dissemination Agent, the Local Issuer shall be the Dissemination Agent. SECTION 9. Amendment. Notwithstanding any other provtston of this Disclosure Agreement, the Local Issuer may amend this Disclosure Agreement, if such amendment has been approved in writing by the Authority and is supportt.'<i by an opinion of independent counsel, acceptable to the Authority, with expertise in federal securities laws. to the effect that such amendment is permitted or requirt.'<i by the Rule. SECTION 10. Additional Information. Nothing in this Disclosure Agreement shall be deemed to prevent the Local Issuer from disseminating any other information, using the means of dissemination set forth in this Disclosure Agreement or any other means of communication, or including any other information in any Annual Report or notice of occurrence of a Listed Event, in addition to that which is required by this Disclosure Agreement. If the Local Issuer chooses to include any information in any Annual Report or notice of occurrence of a Listed Event, in addition to that which is specifically required by this Disclosure Agreement. such Local Issuer shall have no obligation under this Agreement to update such information or include it in any future Annual Report or notice of occurrence of a Listed Event. SECTION 11. Default. Any person referred to in Section 12 (other than the Local Issuer) may take such action as may be necessary and appropriate, including seeking mandate or specific performance by court order, to cause the Local Issuer to file its Annual Report or to give notice of a Listed Event. The Authority may, and the holders of not less than a majority in aggregate principal anlOunt of Bonds outstanding may, take such actions as may be necessary and appropriate, including seeking mandate or specific performance by court order, to challenge the adequacy of any information provided pursuant to this Disclosure Agreement, or to enforce any other obligation of the Local Issuer hereunder. A default under this Disclosure Agreement shall not be deemed an event of default under the applicable resolution or bonds of the Local Issuer, and the sole remedy under this Disclosure Agreement in the event of any failure of the Local Issuer 10 comply herewith shall be an action to compel performance. Nothing in this provision shall be deemed to restrict the rights or remedies of any holder pursuant to the Securities Exchange Act of 1934, the rules and regulations promulgated thereunder, or other applicable laws. I#0986"4~-1 077S:!6·00055-0! J F-4 SECTION 12. Beneficiaries. This Disclosure Agreement shall inure solely to the benefit of the Authority, the LOI.:al Issuer, the Participating Underwriters, and holders from time to time of the Authority's Bonds, and shall create no rights in any other person or entity. SECTION 13. Counterparts. This Disclosure Agreement may be executed in several counterparts, each of which shall be an original and all of which shall constitute but one and the same instrument. Date: November 9, 2006 CITY OF ROANOKE, VIRGINIA By Darlene L. Burcham City Manager {1!09864-l-5-1. 07782b-00055~OII F-5 EXHIBIT A NOTICE OF FAILURE TO FILE ANNUAL REPORT [AUDITED FINANCIAL STATEMENTS] Re: VIRGINIA PUBLIC SCHOOL AUTHORITY SCHOOL FINANCING BONDS (1997 Resolution) SERIES 2006 B CUSIP Numbers: Dated: November I, 2006 Name of Local Issuer: City of Roanoke, Virginia NOTICE IS HEREBY GIVEN that the [Local Issuer] has not provided an Annual Report as required by Section 3(a) of the Continuing Disclosure Agreement, which was entered into in connection with the above-named bonds issued pursuant to that certain Series Resolution adopted on [September 6, 2006], by the Board of Commissioners of the Virginia Public School Authority, the proceeds of whieh were used to purchase $ [School Bonds] of the [Local Issuer]. [The Local Issuer anticipates that the Annual Report will be filed by .] The Local Issuer is a material "obligated person" within the meaning of Rule 15c2-12 under the Securities Exchange Act of 1934, as amended, with respect to the above- named bonds of the Authority. Dated: [LOCAL ISSUER] By lr,0986445· ¡ , 077826-00055-UI f F-6 EXHIBIT B CONTEl\'T OF Al\'NUAL REPORT Description of thc Local Issuer. A description of the Local Issuer including a summary of its form of government, budgetary processes and its management and officers. Debt. A description of the terms of the Local Issuer's outstanding tax-supported and other debt including a historical summary of outstanding tax-supported debt; a summary of authorized but unissul-d tax-supported debt: a summary of legal debt margin; a summary of overlapping debt; and a summary of annual debt service on outstanding tax-supported debt as of the end of the preceding fiscal year. The Annual Report should also include (to the extent not shown in the latest audited tinancial statements) a description of contingent obligations as well as pension plans administered by the Local Issuer and any unfunded pension liabilities. Financial Data. Financial information respecting the Local Issuer including a description of revenues and expenditures for its major funds and a summary of its tax policy, structure and collections as of the end of the preceding fiscal year. Capital Improvement Plan. A summary of the Local Issuer's capital improvement plan. Demographic, Economic and SuppIcmcnta1lnformation. A summary of the Local Issuer's demographic and economic characteristics such as population, income, employment, and public school enrollment and intrastructure data as of the end of the preceding fiscal year. The Annual Report should also include a description of material litigation pending against the Local Issuer. {#OY8ú445-1, 07ïS26-00055-01} 1'-7 PROCEEDSAGR[EME~T Rcspeding the Custody, Investment. and Dishursement uf I'wcet'ds of Local School Bonds Purchased by the Virginia Public School Authority with the Proceeds nf Its SI2006 B PAR AMOl.:'\T] School Financing Bonds (1997 Resolution) Series 2006 ß Daled November 9, 2006 Among Vir~illia Public School Authority Wachoyia Bank, N.A. PFI\I Asset \Ianagcment LLC and 12006 8 Loca11ssucrsl Sidley Oraft August 28. 2006 Table of Contents Pagç Section I. Reci tals............................................................................................................................ I Section 2. Detini tions. .....................................................................................................................3 Section 3. Dispositinn ofVPSA ß,)nd Proceeds. ............................................................................9 Section 4. Establishment of Accounts. ..........................................................................................I 0 Section 5. Dispositit\ll t,f Local Sclll\ol Bond Proceeds. ...............................................................11 Section 6. Investment (\f Principal SubaeC<lunt. ............................................................................11 Section 7. Disbursements 1Ì"<\lu Principal Subaee(\unt. .................................................................11 Section 8. Investment of Income Subaccount. ..............................................................................12 Section 9. Income Subaccount. .....................................................................................................12 Sl'ctionIO. Investment Losses. .....................................................................................................14 Section 11. Rebate (\\luputations..................................................................................................15 Section 12. Transters to Income Subaccount. ...............................................................................16 Section B. Dispositit\ll of Excess Proceeds. 'Yïcld Restriction and Yield Redueti(\n PaYlllents. .......................................................................................................................... .16 Section 14. Rebate Payluenls and Penalty PaYlllents. '{icld Reduction Payments. ......................1 ~ Section 15. Duties of \IPSA. .........................................................................................................19 Section 16. Duties of the Depository. ............................................................................................20 Section 17. Duties of I .0eaIUnits..................................................................................................20 Section Ill. Rcsptlt1sibilities "fthe In\'(~stment Manager. .............................................................21 Section 19. ensts. ...........................................................................................................,............ ..21 Section 20. Opinions of Counsel. ... .......................... ................................................... ..................21 Section 21. Amendml'nt. ....... ..... ..................... .............................................. ..... ...........................22 Section 22. Nntices....................................................................................................................... .23 -11- :--'Yl ~;:'li'..5\·.·1 Section 23. No Third Party ßenetìciaries. .....................................................................................24 Section 24. Severahi Iity. ............................................................................................................... .24 Section 25. No Personal Liahility................................................................................................. .24 Section 26. A ppl i<:ahlt: l.aw. ........................................................................................................ .25 Section 27. Counterparts. ............................................................................................................. .25 Section 211. Etli:<:tive Date: Term. ............................................................................................... S-l -111- 1\'....1 .~;51 /,-1-'\ ... PROCEEDS AGREEMENT Rcspecting the Custody, Invcstmcnt, lInd Disburscmcnt of Procccds of Loclll School Bonds I)urchllscd by tbc Virginill Public School Authority with thc Proceeds of Its $12006 B PAR AMOlJ:"IT School Finllncing Bonds (1997 Rcsolution) Scrics 2006 B This PROCEEDS AGREEMENT, dated November 9. 2()(l6 (this "Agreement"), is among the Virgin ill Puhlic School Authority, a public body col1JOrate and instrumentality of the Commonwealth of Virginia ("VPSA"). the U countics and u citics that are signatories to this Agreement (collectively, the "Local Units", and each a "Local Uni!"·). WlIchov'ill Blink, :"I.A., a bankin~ institution or~anizcd under the laws of the United ~ ~ States of America and having an oftìee in RidllllOnd, Virginia. and PFi\l Assct MlInllgcmcnt LLC. a corporatillll l>rgani/ed under the laws of Delaware and having an otliee in Harrisburg, Pennsylvania. All eapitalizl'd tel111S used herein shall have the meaning given to them in Section 2 hereo t: The parties hercto agree and covenant as follows: Scction 1. Recitn1s. A. On or bctè,re October II. 2006. VI' SA and each of the Local Units entered into a Bond Sale Agreement pursuant to whi.:h VPSA agreed to purchase. and the Local Unit agreed t() sell its Local School Rllnds. R. On October II. 2006, VPSA's Ronds were awarded at eompetitiVl' bidding to tl1l' Purchaser. The Pun:hasl'r is onligated ny the terms of its bid t() pay the pun:hase prii.'c fèlr the VPSA's Bonds on the Closing Date. VPSA will apply eertain of the proceeds of the sale of VPSA's Bonds to the purchasl' of the Local School Bonds on November 9. 2(lo6. the Local School ßonds Cl()sing Date. VPSA will also apply certain ufthe procccds orthe sale of VI' SA 's I\YI 57~lh"'5\''''' Bnnds. together with 11th.:r availabk funds, to pay a.:.:ru.:d inkr.:st on and œrtain costs of issuan<:c of the VPSA Bonds. C. Th.: Cod.: impos.:s r.:quir.:m.:nts on VPSA and the Lo.:al Units selling their Local Schnnl Bnnds to VPSA that must he met if interest on VPSA's Bllnds and interest on th.: Local School Bonds ,liT to hc l'xcludahk from gross income fl)r federal ineom.: tax purpos.:s, induding a requir.:ment that in certain circumstances, certain inv.:stment income with respect to the Lneal School Bonds. which inwmc is d.:cmcd t'lr fedcral incom.: tax purposes to be investmcnt incomc ofVPSA's 13onds, he subject to payment, or in 1icu thereof certain payments be made, to the United States Treasury. D. VPSA has determincd tbat in order to fultill its representations respecting the maintenance nf the exclusion of the inter.:st lHI VPSA's Bonds ITom gross income for tèderal income tax purposes. VPSA must estahlish a mechanism to providc accountability t,lr the custody, investm.:nt and disbursement of the proceeds of VPSA's Bonds and the proceeds of the Lllcal School1311llds. E. It is the purpose of this Agreement to .:nabk VPSA (i) to fullill the n:prl'sl'ntations mention.:d in thc preccding subseetil1n; (ii) subject to the constraints of the Code atlCcting the investm.:nt ,If tbc procœds of tax-excmpt llhligations. to achiev.: th.: optimum, praeticahle incomc hy the prot<:ssional management of the invcstment and reinvestment of the pmc<:cds of (he Local School 13omls; (iii) to p[(lvide t0r the custody, investment and dishursem':l1lof thc pmceeds of th.: Ll1cal School Bonds. and t'lf the maintenanc.: of appropriate recl1rds th.:r':lll: (i\') to m.:ct thc rchate rcquirl'mcnt impl1sed hy Scction l4S(t) of the Code, in part through th.: paymcnt of either thc Locall;nit Rebat.: Rcquirement by cach ofthc Local Lnits or the Penalty if thc Penalty Elcction has been madc on hchal f of a Local Unit; and (v) to provide -2- SYI 5"'S]!'·I.~\"A for the allocation and paymcnt of the costs assodated with thc estahlishment and maintenance of this Agreement. F. The purposes set t,)rth in the preceding suhsection E shall he accompl ished through SNAP. The proceeds of thc Local School Rllllds shall be invested in accordance with thc Information Statcml'nt. Any statements of tàets contained in these rccitals pertaining to thc sak of the VPSA's Bonds and the application of such pwcccds. othcr than the purchase of the Local School 13onds. will not be deemcd to he made hy the Local Units cxccpt to the cxtl'nt they have knowledge of such facts. Section 2. Detïnitions. In addition to the words and terms elsewhere detincd in this Procl'l'ds Agreement including the Exhihits attached hcreto. the I(lllowing words and tcnns shall have the 1()lIowing 1I1eanll1gs: "Aggrcgate Local Units Rebate Requirement"' shall hc the amount cakulated pursuant to thc Letter Agreemcnt. "Agrccmcnf" or "Proceeds Agrecmcnf" shall mcan the Pwceeds Agrcement. datcd Novemher I). 2006. among the Authority. thc Local Units. thc Dcpository and the Investment I'\ilanager. "Authorizcd Rcprescntative" shallmcan. as applied to VPSA. tl1l' Depository, the Investmcnt :V1anager and thc Lllcal Units. the pCrSlll] or each or thc perSllllS thereoy designated, trnm timc tll timl'. in accllrdancc with and as listcd on the pagc of this Agreemcnt cxccuted hy such p:uty. "A vailabk Constructinn Proceeds" shallmcan. as applicd to each Lncal Unit, the sum (If (i) the am(lunt initially depnsited to the Principal Account of such Localljnit pursuant to -3- "YJ ·'7~II,-:.:¡\··1 Section 5 hercof: and (ii) the investment earnings thereon, reduced by the amount of issuance costs tinaneed hy such Local Unit's Local School AOIl(b, In the cvent that the Loealllnit has made thc Bifurcation Election on its signature page. "Availahlc Constmction Proceeds" shall mean the stun of the anlllunt ,set tl)rth lHl thc signature page as the portion of the issue used fix l'Onstruetion and the invcstment earnings thereon. reduced by the amount set lilrth on the signature page as alloeahle to issuance expenses. 'ï3ifureation Election". with respeet to each issue of Local School Bonds, shall mcan the election made by the Local Unit to treat a portion of its Local School Bonds used tllr eonstmetion as a separate issue pursuant to Section 14S(t)(4)(C)(v) of the Code. "13ond Sale Agreements" shall refer to the respcetive Bond Sale A¡''Teements. dated as ofSl'ptember 27,2006. between VPSA and each Local Issuer. "Capital Expenditure" shall mean any cost of a type that is pmperly chargeable to a capital account (or would be so chargl'able with a proper election) ull(kr genl'ral federal income tax principles as detcrmined at the timc the expenditure is paid with respect tl) thc property. "Capital Projcet'" shall mean all Capital Expenditurcs, plus related working capital expenditures to which the de minimis exception pro\'idcd hy Sectioll I. -IS-6(d)(3)(ii)(A) or the Treasury Rcgulatil)ns to the proeeeds-spcnt-last rule applies. that carry l)Ut the governmental purpose of the I.ocal School B(lnd issuc. --Closing Datc" shall mean, with respect to the VI'SA Bonds. the date of delivery by VPSA of such Bonds to the Purehasl'r. The Closing Date is sl'hedukd to he ~ovemher 9. 2006. "(\)de" shall mcan the Internal Rl'vcnue Codc of Il)R6. as aml'nded. --1- 'Y1 57~lhl~';.·1 "Computation Date" shall mean each of the Installment Computation Dates, Local Unit Computation Date. and the Final Computation Datc. "Contract'" shall mean the Contract respecting the Virginia State Non-Arhitrage Program. hetwecn the Treasury Board of the ComnllJnwealth of Virginia and the Investment Manager, induding the Depositllry Agreement appearing as Appendix A thereto. "Depository" shall mean Waehovia Bank. N.A.. a banking institution llrganized under the laws of the United States llf America and having an oftice in Richmond. Virginia and its future successors and assigns under the Depository Agrccment. "Depository Agreement"' shall mean the Depository Agreement appearing as Exhihit A to the Contract. "Eighteen-Month Exception" shall mean the exception to the Rebate Requirement provided by Treasury Regulation Section 1.14S-7(d). "Final Computation Date" shall mean the date the last hond that is part of the issue ofVPSA 's BLInds is discharged. "(jfl\SS Proceeds" shall have the mealllng given tll such terln m the Lctter Agrel'mcnt. "Ineome Subaccount"' shall mean thc Income Suhaecount established pursuant to Section 4 of this Proceeds Agreement fix each Loeal Unit. "Income Suhaeeount Set Aside" shall havc thc meaning given to such term by Seetion!)(h) of this Agreement. "Individual 1\lrlf'i.llio" shall have the. meaning given to such tenn m the Infi\llnation Statement. "Intonnation Statcmcnt" shall mean the current Intì.lllnation Statement lkseribing Sì\iAP, as the same may he supplemented and amended. -5- NYI 5;51(,"'5~.";' "Instalhnent Computation Datl's" ,shallmcan ?\iovcmbcr 9, 2011. and cach nllh (5th) anniwrsary datc thcrcafìcr. "Investment Manager" shall mean the investment manager of SNAP and its sueœssors and assigns, on the Closing Date heing PF\1 Asset Managcment LLC. a corporation organized umkr thl' laws of Delaware and having an otliee in Harrisburg, Pennsylvania. "Investment Report" shall have the meaning given to such term in Part A of the Letter A¡"'Tel'mcnt. "Letter Agreement"' shall mean the Letter Agreement, dated the date hereof, attached to this Agreement as Exhihit C. "Local School Bonds' shallmcan gencral obligation school bonds of a Loeall'nit having the terms and provisions required by the Bond Sale Agreement. "Local School Bonds Closing Daten shall mean the Closing Date. except as lltherwise provided on the page of this Agreement executed by a Local Unit; provided. however, the Local Scholll Bonds Closing Date with respect to an issue of Local School Bonds shall not he deemed to have occurred until the relatcd Local Unit shall have delivered the Local School Bonds to VPSA and otherwise complied with the terms of its Bond Sale Agrccment. "Local lInit"' or "l.ocal Units" shall have the meaning accorded to such tcrm by the ¡¡rst pnragraph (If this Agreement. "l.llCal Unit Computation Date" shallmcan the date selected by a Local l:nit as the datc as of which the Rcbak Rcquirement with respeet to its issuc of Local School Bonds sh~t11 bc Cllmputed. Such datc shall not bc carlicr than the date lln which such Local Unit anticipates that all of the procecds of such issue of Local School Bonds. ineluding any amounts sct aside in the Incomc SuhacCllunt for the payment of tl1l' Rl'hatc Requirement. shall he expendcd. -(>- .'>IYI :''''.~!t:..a~\..¡ "Local Unit Rebate C\lmputation··. with respect to each issue of Local SehOlll Bonds, shall mean a Rebate Computation t"r each Local Lnit made on each Computation Date pursuant to Section II of this Proceeds Agreement. "Local Unit" s Rebak Rl'quirement", with respect to each issue of Loc.al School Bonds, shall mean the amount payable to the United States Treasury calculated pursuant to the Letter Agreement. "Penalty" shall mean the amount that must be paid to the United States Treasury pursuant to the Penalty Election. "Penalty Election", with respeettll each issue of Llleal School Bonds, shall mean the election made by the Local Unit to pay a penalty in lieu of rebate pursuant to Section 148(t)(4)(C)(vii) of the Code. "Prineipal SubaceounC shall mean the Principal Subaccount established pursuant to Section 4 of this Proœeds Agreement for each Local Unit. "Proceeds Account" shall mean. with respect to each Local L:nit. its aCC(lunt established under Section 4 of this Proceeds Agreement. --Purchaser" shall mean [2006 B PliRCHASER]. the bidder olìèring to pay the lowest trlle interest cost of the VPSA' s Bonds and to which V P8A awarded the VPSA' s Bonds at a eompetiti ve sale. "Rebate Calculation Agent"· shall have the meanll1g gIven to such term 111 the Letter Agreement. "Rebate Computation" shall mean the computati(ln, as of a Computation Date. of' the L()(:al Unit Rd,ate Requirement to such Computation Date. The amount so computed may be a positive or a negative numb.:r. -7- ~Yl 5i~ I /,...:;~ .1 "Rebate Exceptions" shall mean the Spending Exceptions and the Small-Issuer Exception, e(lllectively. "Rehate Report" shall mean the Local Unit Rehate Computations. "Rebate Requiremcnt"' shall mean the rebate requirement imposed by Sl'etions 148(t)(2) and (3) of the Code. "Six-rvlonth Exception" shall mean the exceptillll to the Rebate Requirement provided by Section 148(f)(4)(B) of the Code. "Small-Issuer Exeepti(ln" shall mean the exception to the Rebate Requirement provided by Section 148(t)(4)(0) of the Code. "SNAP" shall mean the State :\on-Arbitrage Program estahlished pursuant to Article 7.1. Chapter 14, Title 2.1. Code (If Virginia. as amended. "SNAP Documents" shall mean the Intimnation Statement and the Contract. "Spending Exceptions" shall mean the Six-Month Fxœption. the Eighteen-Month Exception and the Two-'Y car Excepti(ln. collectively. "Tax Fxempt B(lnd"" shall mean a b(lnd the interest on which is excludable trom gr(lSS income under Section I03(a) of the Code ,md is not a speeitied private activity bonds as defined in Scetion 57(a)(5)((,) (lfthe ('(lde. "Two-Year Exccpti(ln" shall mean the exception to the Rebate Requirement provided by Section 148(1)(4)«(') l,fthe Code. "VPSA"" shall mean the Virginia Public Sch(llll Authority. a public hl,dy eorporall' and instrumentalitv ofthc ('olllmnnwealth ofVircinia. J .. ~ "VPSA's Bond Yidd"" shall mean the "\ïdd on VPSA' s Bonds as set tl'rth in the Letter Agreement. As provided in Treasury Regulation Section 1.148-4(a). the yidd on each -~- N\ I ~"7:'11,·15, I issue of Local School Bonds llf a Local Unit the inten:st on which is exduded Irom gross income shall equal the VPSA's Bond '<ïeld. "VPSA's Bonds" shall 111l'an the $[2006 ß PAR AMOV\l] aggregate principal anllluntllf VI'SA's School Financing Bonds (1997 ReslllutilHl) Series 2006 B. "Withdrawal Date" shall mean the date as llf which an interim Rebate Calculation is made pursuant 10 Section 9 of this Proceeds Agreement. "Yield" shall have thc mcaning accorded to such term by the Letter Agreement. "Yield Reduction l'a)1nenf" shall have the same meaning given to such tenll by Section 13 of this Proceeds Agreement. "Yield Restriction Requirement"' shall have the same meaning givcn to such tenn by Section 13 of the Pweeeds Agreement. Section 3. Disposition of VPSA Bond Proceeds. A. Prior to ,the Closing Date, each Local Unit will complete and submit, to tl1l' Investment Manager. the program registration t,mn and the SNAP account registration limn annexed to the [nformation Statcment. R. On the Closing Date. VPSA will transler to the Depository for deposit in S\:AP. in immediately available funds, an amount equal to the aggregate pun:hase price of all of the Local School Bonds ($[2006 B PURCHASE PRICE]). C. Each I.oea[ L1nit hereby agrees to adhere strictly to the prescribed and reeommellllcd procedures described in the [nllmnation Stakl11l'nl. Each Local Unit hl'reby further agrees that it will Illlt deviate trom llr request an exception to sUi:h proel'dures without lirst obtaining the prillr written approval "f VPSA. [n the event or a eoniliet hetween the provisinns of this Agreement and the Jntimllatinn Statemcnt. the provisions of this Agreement shall control. -<)- :\YI S!.~lh"'5\"A Section 4. Establishment of Accounts. (a) Exccpt as providcd in Scction 4(b) below, thc Investment Manager will establish on its books l(Jr ea..:h Lo..:al Unit on..: (I) aœount and two (2) suba..:counts therein as III I k\\vs: VPSA-(Name of Local Unit) Proœeds Aœount - Selies 200!) B Issuc Prin..:ipal Subae..:ount Income Suba..:¡;ount (b) Th..: Inv..:stm..:nt Manager shall ..:stablish on its blloks tor each of [2006 B SUBSIDY & NO:\-SL'BSID'I· ISSUERS] within the one (l) Proceeds Ae..:ount fllr ..:aeh su..:h Local Unit two (2) subaœounts thcrein, and two (2) subaccounts within each subaœllunt as tllllows: VPSA-(Name l,f Local Lnit) Proc..:eds A..:..:ount - S..:ri..:s 2006 B Issue Non Subsidy SubacCl1unt Principal Suha..:..:ount Inelllll": Subaœount Subsidy SubaeCllunt Principal Subaœount Income Subaccount The amounts in the Prin..:ipal Subwxounts and Ineomc Suhaccounts of each of these Lo..:al Units shall he wmbined Illr purposes of this Agrœmcnt Requisitions lÌ"LlIll 12006 B SUBSIDY & NON-SUBSIDY ISSUERSj shall specify thc Suhacwunt Irom whi..:h mon..:ys arc b..:ing r..:quisitillned. If a I.ll..:al Unit has elected tll tr..:at a portion of its Local S..:hOlll Bllnds issue used It,r ":llllstrul'lion as a separat<.: issu..: as set l('rth on its signatur<.: page. the Inv..:stment Manager shall maintain such records as nec<.:ssary 10 determin..: th..: portilln of th..: Prin..:ipal Suha..:wunt and Income Suba..:wunt of such Local Unit allo..:ahk to the construl'lion issuc and the non- constru..:tion issuc. -10- \y; <:'7511,1;\.·1 Section 5. J)jsposition of Local School Bond Procecds. A. The Investment Manager shall allocate the procceds of the l.oeal School ßonds on the Ll1eal School Bonds Closing Date(s) to the l.oeal Unit(s). dollar t'lf d(lllar. in accordancc with thc respcctivc purchase prices l,f their l.oeal School 130nds set Ilmh in Exhibit A to this Agreement. There is no accrued interest on thc Local Seho(ll Bonds. Except as provided in Section 5(13) () below. the procccds of VPS¡\'s Bonds allocated to cach Local Unit shall be credited to the l'rilll.:ipal Subaccount of the Local Unit in the amounts set forth in Exhibit A with rcspect to thc Suhsidy Local School Bonds and/or the Non-Subsidy Local School Bonds. as the case may be. 8. [INSERT INFORMATION CONCERNING 2006 B LOCAL ISSUERS REDEEMING INTERIM FINA!\:C1NGS1. Section (,. Investment of Principal Subaccount. The 1n\'(:stment \1ana~er shall invest and n:inVl'st moneys to the credit of the , , Principal Subaccount of cach Local Unit I,'lr the benelit of such Local Unit in aee(lnlanee with the provisions of the InlllTlnation Statement and Section lli of this Agrecment. Thc Investment Manager shall ercdit to thc Local Unit's Income Subaccount all income and pmtits trom the invcstment and reinvestment ofnlllneys to the credit of its n:spl'Ctive Principal Subacc(lunt. Section 7. Dishursemcnts from Principal Suhaccount. 13eginning on its l.ocal ScllllOI Bonds Closing Date, each l.oeal Unit may at any timi.' withdraw all or any portion of the pnH:eeds of its I.oeal School 13011(1s credited to its l'rilll'ipal Subaccnunt (induding amounts transferred to the credit of the Principal Subaccount tÌ"lllll thc Incollle Subaeel)Unt pursuant LO Sl'etion 9). in accordancc with the Int'lIlllation Statement and. in the case of a reimbursement to the Local Unit. by tiling with the Investment Manager a requisition or rl'luisitions therel,'r in the t,mll of Exhibit B to this Agreement signed -11- \JYI"7511,·I:',.; hy an Authorized Representative of the Local Unit. Notwithstanding anything to the contrary in the Int<.mnation Statement, the Investment Manager agrees that, in the ease of a reimhursement to the 'Local Unit. it shall n"t disburse any money trom the Principal Suhaecount unless and until it has received such rl'4uisiti"n tÌ'l'm the l.oeal Unit Section 8. Investment of Income Suhaccount. The IIl\'l,stment Manager shall invest and reinvest moneys to the credit of the Income SubaeelJunt of each Local Unit tor the benefit of such l.oeal Unit in a<:Cllrdanee with the provisions of the Information Statement and Section 18 of this Agreement. The Investment Manager shall credit to the Local Uni!"s Income Subaccount all income and protits trom the investment and reinvestment of moneys to the credit thereo!: Section 9. Income Snhaccllunt. A. The Investment :Vlanager will notify a Local Lnit and VPSA when the balance to the credit of the Principal Suhaeeount of such LoeallJnit shall have b<:en reduced to zero ($0). Such l.oeal Unit may then withdraw trom its Income Suhaecount an amount not in excess of the amount then to the credit of its Income Suhaceount if the l.oeal Unit 4ualitics t(lr anyone of the Rebate Exei-'ptions or if such withdrawal is necessary to qualify t<'lr lllle of the Spending Exceptions. '\YJ '5.')[1-,15\".1 I. In order to qualit\ 1<'1r the Small-Issuer Exception, the Local Unit must deliver to VI'SA and the Ill\'estment Manager 11Ll later than the end of calendar year ~006 (a) a letter li·"m. or opinion llt: nationally recognized hond counsel that the Local Seho(ll ßonds of such l.oeal Unit purchased hy VPSA with the proceeds of the VPSA's Bonds will be treated as meeting the re4uirl,ments "feode Sectilllls 148(t)(2) and (3). pursuant t" Code Section 148(t)(4)(0); and (11) thl' LoeallJni!"s covenant that it shall provide t,)r the payment "r reimburse VPSA «)r its payment "f the Local Loni!"s Rebate Requirement -l~- 1J] the ewnt that the Local School Bonds of such Local Unit rail to meet all of the requirements of the Small Issuer Exception. 2. In order to determine if a Local Lnit qualities ti.lr either the Six-Month Execption or the Eighteen-Month Exception, the Investment Managcr shall advise each Local Lnit and VPSA or the amount that has heen dishursed trom the Principal Suhaccount and the Income Suhaecount of such Local Unit (a) six (6) months Irom the Local School Bonds C]osinl! Date. (b) twelve (12) months from the Local Sehooll3onds Closing Date. and (c) eighteen (IS) months frOlll the Local Sehooll3onds Closing Dale. To I:leilitate such detenllinatillll. each Local Unit shall set ¡()rth on the signature page for such Local Unit the amount of investment procccds that such Local l:nit rcasonably expects as or the Local Sehooll3onds Closing Date to earn. J. In order to determine if a Local Unit qualilies ti.lr the Two-Year Exception. the Investml'nt Managcr shal1 advise each Local Unit and VPSA. of the amount of Available Construction Proeceds that has hcen dishurscd trom thc Principal Subaccount and the Income Suhaeeount of such Local Lnit (a) six (6) montbs Irom the Local School Bonds Closing Date. (b) twelve (12) months from thc Local School l30nds Cklsing Date. (c) eighteen (I X) months Irom the Local Schtllll Bonds Closing Date. and (d) twcnty-tllUr (24) months tÌ"l11l1 the Local School l30nds Closing Date. Tl' t(leilitate such determination, eaeh Local Unit shall set ¡()rth on the signature page for such Local Lnil the amount t,f inVc'stment proceeds that such Lot:al Unit rcasonably expects as of the Local School Bonds Closing Date to eam and the elections that it requcsts VPSA III make on its bdlalf Furthermore. such Local L:nit shall set ti.llth in a el'rtitieate delivcrcd to VPSA on thc Local School Bonds Closing Date sut:h fads and circumstanccs as necessary to show that it reasonahly cxpeets to quality tlll" thc Two- Year Exception. -13- \Y1 ~:5]1'15\.1 4. The portion of the proceeds of the VPSA Bonds applied to purchase the [INSERT INELIGIBLE LOCAL I'\TERIM FINANCINGSJ do not qualify Il)r the Eighteen 'vlonth Exception or Two '{car Exception. 8. Except to the extent that a Penalty Election has been nlalk on hehalf of a Local Lnit. irthe Local Unitlàils to qualify for one of the Spending Exceptions. or is otherwise suhject to the Rebate Requirement, then prior to a withdrawal trom its Income Subaccount and upon receipt of such notitication. the Local Unit shall promptly request. pursuant to the terms of the Intimllation Statement. an interim Rebate Computation tilr the next Computation Date with respect to such Local t:nit or an estimate of such Local Unit's Rebate Re(uirement tor purposes or determining 'what amount, if any. to the credit of the Income Subaccount may be subject to rehate. Any estimate of the Local Unit's Rebate Requirement made hy the Investment Manager shall also be provided tll VPSA in writing. ~otwithstanding anything In the contrary in the IntilllllatilHl Statemcnt, no dishursement will he made li'om the Income Suhaecount until the atllre1l1Cntioned calculation shall havc becn made. The amount to the credit of the Income Subaccount that mav he subject to rl'bate is the Income Suhaccount Set Aside. On the Withdrawal Date, the Investment Manager shall (i) reserve, in the Income Subaccount. the amount or the "Income Subaccount Set Aside" until the next Rebate Computation required hy Section 11 shall hav'e bcenmade and (ii) credit the remaining: halance to the ercdit of the Incomc Subaccount In the credit l.fthe Local Unit's Principal Subaceount. Section 10. hl\'estment Losses. Thc InVL'stmcnt Managcr shall dlarge any loss rcalized ti'om the investment or reinvestmcnt of n10neys to the credit of the Incomc Suhaccount ami the Principal Subaccount of a Local Unit as ¡(..lIows: -14- I'YI575[h·I:'\.... I. losses on moneys to the credit of the Principal Subaccount shall be charged thereto; and 2. losses on mllneys to the credit oftlll' Income Subaccount shall be charged tirst to the Principal Suhaeeount and then to the Income Subaccllunt. Section 11. Rebate Computations. On or hct()re each Computation Date. VPSA will prepare. or cause to he prepared, in accordance with the provisions of the Letter Agreement the l.oeal Unit Rebate Computations. The Local Unit Rebate (\'mputation tllr each Local L;nit shall be made on the hasis of the Investment Reports maintained by the Investment Manager for each Proceeds Account. With respect to the amounts on deposit in the [2006 H TRANSFERRED PROCEEDS ACCOUNTS], such amounts will only he taken intll account tllr purposes of the Loeal Unit Rebate Computations Il)r the respective Local Units only if the [2006 B INTERIM F1NANCINGS WITI·I TRANSFERRED PROCEEDS] respedively. do not qualify for one of the Spending Exceptions or I~lil tll meet all of the requirements of the Small Issuer Exception. As set tllrth in the Letter Agreement. the l.oeal LJnit Rebate Requirement shall be calculated separately for each Local Unit. If it is determined. however. that the Local Unit Rebate Requirement is rl'quired to be calculated in the aggregate. the l.oeal LJnit Rebate Requirement tllr each L.oeal l.;nit shall he equal to a percentage of the Aggregate Local Units Rebate Requirement determined by multiplying the Aggregate I.ocal Linits Rebate Requirement by a ti·aetion. the numerator of which is the positive Local Lnit Rebate Requirement calculated separately and the denominator of which is the sum of all of the positive I.lleal Lnit Rehate Reljuircments ealculatl'd separately. If any provision of this Agreement shall become inconsistent with any regulatil,n or regulations promulgated under Section 14R( I) of the Code suhsequent to the date hereof: -15- \Y1 :'7Sl¡,:S\·1 VPSA herehy agrees and covenants to prepare. or cause to be prepared. as soon as praetieahle, a Local Lnit Rehate Computation lilr each LOl:al Lnit. in compliance with such regulation or regulations. and VPSA. the Investment Manager and each of the Local Units herehy fUl1her agn:e and covenant immediately to make any and all transfers and payments required hy Sections 12 and 14 of this Agreement from any moneys ()n deposit in the Income Suhaeeount and any other moneys of the Local Unit legally availahle liJr such purpose. Scction 12. Transfcrs to Incomc Subaccount. Upon receipt by a Local Unit of the Rebate Report from VPSA. if the amount on deposit in the Local Unit's Income Subaccount (including thc Income Subaccount Set Asidc) is less than the sum of the Local Unit Rcbate Requirement and 'tïeld Reduction Payment of such Local Lnit. the Investment Manager shall promptly charge the Principal Subaccount llf such Local Unit an amount equal 10 thc delieieney and credit its Ineomc Subaccount such amount. To thc extent that thc amount on dcposit in the Principal Subaccount IS insunïcient to rcmedy the deficiency. the Invcstmcnt Managcr shall advise VPSA and such Loc.al Unit of thc amount of the remaining deticiency. and. to the extent pel111ittcd by law. the L()cal Unit agrees tll transfer promptly to thc Dep()sitory. tì'om any funds that arc or may bc made legally available till' such purpose. the amount equalthc rcmaining deficiency. To thc cxtcnt that the amount on deposit in the Income Subaccount excccds the sum of the Local Unit Rebatc Requirement and Yidd Reduction PaY1ncnt for the L()eal l !nit. sucl¡ cXCC'ss shall be transferrcd to thc Principal Suhaccount ofthc Local Unit. Section 13. Disposition of EXCl'SS I)roceeds, Yicld Rcstriction and Yield Rcduction Payments. A. When a Local Lnit shall certi (v tCI VI'SA and the Investment 'v1anager that there arc balanecs tn the credit of thc Local Lnit" s Principal Suhaccount or Income Suhaccount -16- NYI .'"1"lh.I:;~ .1 that will not be used tilr Capital Projects, such amount shall be n:tained in the Proceeds Account and. to the extent such amount is Illlt required to be depllsited to the Income Subaccount pursuant to Section 12, VPSA will. except as provided in the last sentence of this Section IJA. direct the Depository to apply such amount to rcdel'm such Local l;nifs Local School Bonds on the earlicst possible date that such l30nds may be called without a pcnalty or prcmium. Notwithstanding the tilregoing, when a Local Unit shall certify to VPSA and the Investment Manager that it has made an eketion ulllkr Scction 148(t)(4)(C)(viii) or (ix) of the Code to terminate the Penalty Election, and that. pursuant to Code Seetilltl 148(t)(4)(C)(viii)(llI) of such termination e1cction, such Local Unit indicates thc amount of Available Constmetion Proceeds to be applied to the redemption of its Local School Bonds and the date of such redemption. VPSA will diree.! the Investment Manager and the Depository to apply such amount toward the redemption of such Local Unifs Local School Bonds on the datc indicated. B. If a Local Unit has any balance remaining in either its Principal Subaccount or Income Subaccount on November 9, 2009. such amount shall not bc invcsted at a ,\'ield in excess of the VPSA' s Bond Yield (the "Yield Restriction RequiremenC). Exccpt as provided in Section 13C below. any balances rcmaining on deposit in either the Principal Subaccount llr Income Subaccount of any Local Unit on Novembcr 9. 2009 will be invested by the 1nvcstment \1anager in either an Individual Portfolio at a Yield not in execss o(thc VPSA's ßlllll! Yield or Tax- Excmpt l30nds in order to comply with the Yield Rcstriction Requirement. C. If amounts lln lkposit in thc Prinçjpal Subaccount llr Income SubaCcLHlIlt of a Local Unit qualitied Ii)r the temporary perillds sct ti'rth undcr Treasury Regulation Scction 1.148-2(c)(2) or Treasury Regulation Section 1.148-2(e)(6), such Local Unit may l'ontinue to invcst such amounts in the S~AP Fund in accordance with the pnwisions of thc IntilI1nation Statement and may Cllmply with thc Yield Restriction Requiremcnt by making yield reduction -17- 1\)'15"'511>-\'\"-1 payments pursuant to Treasury Regulation Section 1.148-5(e) ("'Yield Reduction Payments") to reducc the yield eamed atìer November 9. 2009 on any investments in either its Principal Subaccount or Income Subaccount. On or bcti)re each C\lmputalion Date. VPSA will prepare, or Gause to be prcparl'd, the 'tïeld Reduction Payment required to he made with respect to each Local Unit in order to comply with the Yield Restriction Requirement on thc hasis of the Investment Reports maintained by the Investment Manager ttlr each Procceds Account. Such Yield Reduction Payments must be made by the Local Unit at the same time and in the same manner as the Rehate Requirement is required to he paid. Scction 14. I~chate >aymcnts and Penalty Paymcnts, Yicld Rcduction Paymcnts. 1\. The Local Unit Rcbatc Rcquiremcnt and Yield Reduction Payment of each Local Unit shall be paid to the Unitcd States Treasury at thc dircction of VPSA on bchalf of and li)r the accnunts (>1' the L(>eal Unit and VPSA in accordance with the Lettcr Agreemcnt. B. The pa}ll1ent of thc L(leal Unit Rcbate Requiremcnt nf each Local Unit shall be in partial satist:¡ction with respect to the VPSA's 13nnds. and total satisfactinn with respect to the procceds ()fthc Local School Bonds on deposit in the Prnceeds Account. of the reljuiremcnts of Scction I 48(t) of the Code cxccpt to the extcnt that such issue of Local School Bonds may bc treated as a Cllmpnsite issue under Trcasury Regulatil1n ~ 1.150-I(e) with another issue of obligations. C. Notwithstanding anything to the contrary herein, if VPSA has made the Penalty Election on hehalf of a Local Unit and if such Ll;eal Unit ¡¡¡ils to ljualify It)r nne of the Spending Execptions. then. prior to any further disbursements th)m the Principal Subaeeflunl or Income Subaccount. the Local Unit shall pwmptly request. pursuant to the tenns of the Information Statement. a computation of the amount of the Penalty that must be paid to the United States Treasury pursuant to the Penalty Election. -18- r... 'r I ~7.:; I 0·1:".·\ If the amount nn deposit in the Local Unit's InCllme Subaeeount and Principal Subaeeount is less than the amount of the Penalty due hy sueh Local Unit. the Investment Manager shall advise VPSA and sud] Local Unit of the amount llf the ddicieney, and to the extent permitted by law. the Local Unit agrees to tmnster promptly to the Depository, tTom any funds that are or may b" made legally availahle for such purpose. the amount of the deficiency. The Penalty of each Local l:nit shall be paid to the United States Treasury at the direction of VPSA on hehalf of and Ii,I' the accounts of the Local Cnits no later than ninety (90) days aIìer the end of the spending period to which the Penalty relates. Section 15. Duties of VPSA. VPSA shall carry out its duties and responsibilities under this Agreement and may retain agents. independcnt Cllntmctors and others that it deems qualified to carry out any or all of such duties and responsibilities. VPSA shall carry out. or cause to be carried out. all of its responsibilities under the Lcller Agreement. VPSA shall rdain a Cllpy of all Rebate Computations till' at least six (6) years atìer the retirement of the last of VPSA' s Bonds. VPSA agrees that, except as provided in this Agreement. any rebate liability that VPSA may have nn aeenunt of the investment and reinvestment of the Gross Proceeds of VPSA's honds, including, hy way of example and not of limitation. any rehate liability as a result of the investment of money credited to funds and accounts created under its bond rcsolutillns or as a r,'sult nfthe advanee refundin~ nfits hnnds. shall be the snle rcsponsihililv of , ~ VPSA and not any Lo<:al Unit. -I ()- \,y I :;-;'~J"·l:;\".·l Section 16. Duties ofthe Depository. The Depository shall carry out its duties and responsibilities under the SNAP DOClllllents and this Agrccment. Section 17. Duties of Local Units. A. The Local Units will cooperate with VPSA, the Investment Manager and the Depository in onkr to ensure that the purposes of this Agreement are fullìlled. To that end, each Local L:nit covenants and agrees that it will take any and all action and refrain trom taking any and all action. as recommended by its bond counsel, tOlllaintain the exclusion from gross income for federal income tax purposes of interest on its l.oeal School Bonds to the same extent such interest was so l'xeludable on the Closing Date. B. If a Local Linit is required to restrietthe Yicld on its investments in order to comply with sud¡ eownant or to maintain the exclusion Irom gross income for federal ineollle tax purposes of the intercst on VPSA's Bonds. it shall timely notil\ the Investment Manager to restrict such 'Yield to the VPSA's Bond '1'ield. To the extent penllilted by law. each Local Unit agrees to provide t()[ the payment of any Yield Reduction Payment required to comply with the Yield Re,triction Requirement, trom any fum!> that are, or may be made legally available. IÒr such purpose. Each l.oeal Llnit aàllllwledges that the payment of its Yield Reduction Payment is necessary to maintain the exclusion from gross income t'''1" t\xlcral income tax purposes of interest on its Local School Bonds as well as the VPSA's Bonds. Each l.oeal Unit agrces to compktl' and to provide to VPSA such forms as VPSA Illay request li)r filing in Ctlnneetion with the payment of the Local Unit's Yield Reduction Payment. C. Each Local Unit agrees not to charge its general fund or otherwise set aside or eamlark funds with \\'hieh to pay debt service on its Local School Bonds (other than as a budget item) prior tn the date of payment thereoftn VPSA. -20- i\Y1 ~"'5]('·15\·.·1 D. Each Local Unit agrees to provide tilr the payment of its Local Unit Rebate Requirement and/or Penalty and acknowledges that the payment of its Local Unit Rebate Requirement al1(;or Penalty is necessary to maintain the exclusion trom gross income tor kderal im:ome tax purposes (If interest on its Local Sdlllol Bonds as well as the VPSA's Bonds. Each Local Unit agrees to complete and to provide to VI'SA such timns as VPSA may request for 1¡ling in eonnedion with the pa)lnent of the Local Unit Rebate Requirement and/or Penalty. E. Each Local Unit hl'reby covenants and represents that Iwither the Local Unit nor any rdated party. as defined in Section 1.150-1 (b) of the Treasury Regulations, to such Local Unit, pursuant to any arrangement. fomlal or inlìmnal. will purchase the VPSA's Bonds in an amount relatl:d to the amount of Local School Bonds to he acquired trom such Local Unit by VPSA. Section Ill. I~esponsibilities of the Investment Manager. The Investment Manager shall be the agent llt", and serve at the expense ot; the Local Units, to manage and dirœt the temporary investment and reinvestment of all moneys to the en:dit of the I'roœeds Accounts pending their disbursement to the Local Units and to make such computations as required by this Agreement. In gcncral. the duties of the Invcstment Manager shall indude those deseribcd in the S:-\AI' Doeumcnts. In paltieular. the Investmcnt ~Ianager will dired the investment and reinvestment or nlllneys to (he credit of the Subaeeounts (If each LneaI Unit in accordance with the Intilllllation Stall'ment. the Contract and this Agreement. Section 19. Costs. Costs of S~AP arc payable as provided in the Intilflllation Statement. The ditferencc in the interest rates between VPS/\'s Bonds and the Local School Bnnds shall be -21- I\'y I :i7~ I '.'·1~\·.·1 collceted and retained by VPSA as partial payment of lhe administrativt: costs incurred by VPSA in wnneetil>11 with issuing, carrying. and repaying VPSA., Bonds. and the underwriting discount. if any. and the cost of purchasing. carrying. and sclling or redeeming thc l.ocal School Bonds. VPSA will not ehargc any other fee to the Local Units ti,r its scrvices or seek reimbursement for its fees and expcnses. including eounscl fees. incurred in connection with the disehargc of its dutit:s and responsibilities under this Agreement. Section 20. Opinions of Counsel. On the Closing Date. VPSA and each Local Unit shall furnish an opuuon of counsel addressed. in the case of counsel to VPSA. to all tl1l' Local Units. and in the case of counsel to the Local Cnits. to VPSA. to the etfeel that the obligations of its client under this Agreement are valid. binding and cnt(lree,lble against such client in accordance with its tenus. Section 21. Amendment. This Agreemcnt may be amended only with the consent of all the atlected parties: provided. however. that this Agre.:ment shall be aml'nded whenever. in thc judgment of VPSA. based on an opinion of its counsel. such amendment is required in onler to insure that interest on VI'SA's Bonds shall remain excludable Irom gross income for federal income tax purposes to the same extent it was. in lhe llpinion of such wunsel. so excludable on the Closing Date. VPSA shall offer to amcnd this Agrccment wht:never it shall in good faith delt:rmint:. bast:d on an opinion of its counsel. that any ont: or n]()rt: llf the restrictillns or requirements imposed by this Agrec'men! upon the Local Units. or any of them, may be rcmovcd or moditied \\'Ïthout adversely alleeting the exclusion of interest on VPSA's Bonds from gross inwme flll' tederal inelHm' tax purposes. -22- \y I 57~Jh·l~\·.·1 Section 22. Notices. Whenever notice is to be given pursuant to the provisions of this Agreement, sueh notice shall be deemed to have been satistaetorily given on the smne day if hand dclivered or tdecopied during regular business hours or three (3) days atkr the date of postmark if mai lcd, tirst class mail. postage prepaid. as t"llows: If to VPSA, to Virginia Public School Authority c/o State Treasurer by hand 3nl Floor, James \1ont"Oe Building 101 North 14th Street Richmond, Virginia n219 by mail Post Omee Box 1879 Richmond, Virginia 23218-1879 by tclecopier (804) 225-3187 III any case Attention: Public Finance \1anager If to the Depository, to Waehovia Bank, ;\.A. By hand 1021 East Cary Street Richmond. Virginia 23219 By mail Post Oftìee Box 27602 Richmond, Virginia 23261 13y telecopier (:'<04) 697-7370 In any case Alll'ntion: Richard H. Grattan Sl'lIior Vicc President If to the Investment Manager. to Pl'M Asset Management LLC By hand One Keystone Plaza. Suite 300 N. Front & Market Streets Harrisburg, P A 1710 1 By mail One Keystone Plaza, Suite 300 N. Fnlllt & \-Iarket Streets Harrisburg. P A 17101 By tekeopier (717) 2.B-6073 , -23- r-" 1 57~1(·"I~\"A In any case Attention: Barbara Fava Managing Dirc::clOr If to a Local Unit, to the address or teleeopier number indicated on the page of this Agreemcnt executed by such Local Unit. Any such address or number may be changed by written notiec given to all the llther parties to this Agreement and the Investmcill Ylanager. except that a Local L1nit need give such notice only to VI'SA, the Depositllry and the Investment Manager. Section 23. :'II 0 Third ParI)' Beneficiaries. Except as herein otherwise expressly provided, nothing in this Agreement expressed or implied is intended or shall be construed to confer npon any person. tinn or corporation llther than the parties hereto any right, remedy or claim. legal or eljuitable. under or by reason of this Agreement or any provision herellt: this Agreement and all its provisions heing intended to bc and being t,)r thc sole and exclusive henctit of the parties hereto. Section 24. Severability. In case anyone or more of the pnl\'isions of this Agreement shall Iì:lr any reason be held to hc:: illegal or invalid. such illegality or invalidity shall not a!leet any <lther provision of this Agreement and this Agrel'mcnt shall be construed and enl(lreed as if such illegal or invalid provision had nllt been contained herein. In case any covenant. slipulatilln. obligation or agrecment contained in this Agreement shall (lr any reason hc:: hcld tll be in violation of law, then such covenant, stipulation. ohligation llr agrl'Cment shall he dcemed to he the ellvenant. stipulation. ohligatillll or agreement of the affected party to the full extl'nt permilled hy law. Section 25. 1\0 Personal Liability. All L:Ovenants. stipulations. obligations and agreements of VI'SA contained in this Agreement shall he deemed to be eO\'l'nants. stipulatinns. obligations and agreements of VI'SA -24- :-¡....l s 7~ I /,.\ ~ ~..... to the full extent authorized by the laws and pennitted by the Constjtution of Virginia. No covenant, stipulation. obligation or agreement contained herein shall be deemed to be a covenant, stipulation, obligation or agreement of any present or future member. employee or agent of VPSA or any Local Unit in his individual capacity. \io commissioner. oftieer. employee or agent of VPSA or any Local Unit shall incur any personal liability in acting or procel'ding or in not acting or not proceeding. in good filith, reasonably and jn accordance with the terms of this Agreement and the applicable laws of the Commonwealth of Virginia. Seetion 2Cl. Applieable Law. This Agreement is executed with the intent that the laws of the Commonwealth of Virginia shall govem its construction. Section 27. Counterparts. This Agreement may be executed in one or more counterparts. ,- -,,)- J\'y I ~7~ I "·15\".·1 Scction 28. Effccti\'c Datc: Tcrm. This Agreement shall take ctlCet on the Closing Date and shall expire on the date lHI which VPSA shall make the tinal rebate payment required by Part D "fthe Letter Agreement. Virginia Public School Authority By: Name: Title: Richard A. Davis Assistant Secretary and Assistant Treasurer Wacho\'ia Bank. N.A. By: Name: Title: Richard H. Grattan Senior Vice President PFI\\ Assct Manag('mcnt LLC By: :\ame: Title: llarhara Fava Managing Direetor 1\ Yl ~7:, I h·I~\..1 I\AME OF ISSlJER: Page 1 of 2 A. Address for notices, b~· hand, b~· mail and by telecopicr, if an~·, as referred to in Section 22 ¡,bove: ß. Authorized Representative(s): Name Title Sneeimen Sil!nature C. Local School Bonds Closing Date (if not :\'ovcmber 9, 2006 enter Date of Issuc of Loeal School ßonds): D. Is thc Smalllssucr Exception applicable to this Issner? (If ycs. an opinion of Bond Counsel and Issuer's covcnant is required as pcr Section I) herein). Yes :\0 E. Eightecn Month Ièxception: Estimatcd Investment Earnings t(,r purposes of the 1.'ighteen-:\10nth Exceptil1n: S If any proceeds arc uscd to refund prior dcbt. please indicate: proœeds llsed t() refund pril1r debt: $ issuance expense alloeahle to the refunding portion of the issue: $ 'In :,\7511'15\".· l\AME OF ISSt'ER: Page 2 01'2 F. Elections with respect to Two-Year Exception: 1. Eledil\ll tll use actual faels in lieu of reasnnahle expedations tllr purpnses of the Two- '{ car Exception: Yes \"0 2. Estimated Investment Eamings: S I. If any proceeds arc used to reti.lI1d prior deht. please indicate: (a) pweeeds used to refund prior deht: $____..___.__...________ (h) issuance expenses allocable to the reIllllding portion of the issue: $ 2. 13ifureation Elcctinn to treat thc portion of the issue used t(.lf eonstmetion as a separate issue: '{es \"0 If yes, state the portion of the issue used ()r eonstmction and non-constmction. respectively: (the sum of the tl1llowing amounts must eyual the issue price of S .. ,,__ __ ___,____ reduced by any purtillll used tl.lf refunding purpuses): (a) portion of the issue used for construction: S (h) issuance expenses allocable to the construction portion oi"the issue: S (c) porti1.ln of the issue used ()r nOIH:onstruction: S (d) issuan'-'C expenses alloeallIe to the nOIH:onstruction portion orthe issue: S 3. Penally Eledil.Hl tl.\ pay On~ and On~-llalf Percent Penalty in lieu of rchah:: Yes \"0 City/County By: \"amc: Title: ~Yl ~ "5It:-1.'iv.. Local Cnit TOTAL: j\ YI 57"'1~'·b\ ..¡ LOCAL SCHOOL BO:'olDS -l\OI\-SLBSmY Principal Amount of Bonds S [xhihit A rag\: I of2 Pnrchase Price $ :Þ. A-I .$. Loca1linit TOTAL: \y I "7.~ H'..~\""¡ LOCAL SCHOOL BO~I)S-SLJBSIDY Principal Amount of Bonds S Exhibit A Pag.: 2 of 2 Purchase Price s s 1\-1 s Exhibit B [No requisition is required in conjunction with a eheà payable to a wndor in resped of an invoice due and payable.] FORM OF REQUISITION FOR REL\IBURSEi\IEI\T BY J>IŒ-AUTIIORIZED ELEC'J'RO"lIC Fljl\DS TRA"ISFER [To be used fÖr REIMBl:RSEME'T to a Local Unit ti-om Local School Bond proceeds tl)r an invoice or obligation that has heen paid and is eligible tl)r payment lì·om Local School Bond proceeds. ] PFM Asset Management LLC One Keystone Plaza. Suite 300 N. Front 8: Market Streets Harrisburg. Pennsylvania 17101 VIRGINIA J>UBLIC SCHOOL Al!TIIORITY I 'ame of Llleal Unit] BONI) PIWCEEI)S ACCOl!"IT - SERIES 2006 B ISSUE Requisition from the Principal Suhaccount Rl'quisition No. ("item nUl)lber") This requisitilln fl)r pa}111ent fr0111 the Principal Subaccount or the ProCl'eds Account is submitted in accordance with the provisions llf the Procecds Agreemcnt dated November CJ. 2006. among the Virginia Public School Authority ("·VPS1\"·), the undersignl'd (the "Local Unif·) and the l)ther units of local government signatory thereto. PF\1 Asset Managl'ment LLC', as Investment \lanager and Waehovia Bank, N.A.. as Depository. ·You arc hereby notified that you alT autllllrized and directed hy the Local l.:nit to pay the 1l1110wing llbligation ti-om the Principal SubaeCllunt: I. The itel11numher llf such payme11l: J The amllunt[s] to be paid: S J. Purpose by general dassilìeation ()r which such llbligatilll1 was incurred: B-1 1\\"1 ;75Ih·l~\.·1 Exhibit C Virginia Public School Authority 101 North 14tb Strcct Richmond, Virginia 23219 LETTER AGREEi\IENT ;-'¡ovcmbcr 9, 2006 Rc: Custody, Investment, and Disbul'selllent of Proceeds of Local School Bonds Purchased by the Virginia Public School Authority with the Proceeds of Its $12006 ß I>AR AMOUNT] School Financing Bonds (1997 Resolution) Series 2006 8 This LETTER AGREEMENT, dated the date shown above (this "Letter AgreemenC), is between the Authority and the Investment Manager. All capitalized tenllS used herein shall have the meaning given to them in Part [ of this Letter Agreement or in Section 2 of the Proceeds Agreement to which this Letter Agreement is attached as Exhibit C. With respect to the VPSA's Bnnds. the Code requires that an amount equal to the VPSA's Rebate Requirement be paid to the United States Treasury. With resped to each issue of Local Schllol Bonds. the Code requircs that an amount equal to the Local Unit's Rebate Requirement be paid to the United States Treasury. Accordingly. VPSA hereby directs the Investmcnt Manager. as provided helow. tn assist VPSA and each Local Unit to comply with the VPSA's Rebate Requirement and the respeetivc LoealUnit"s Rehate Requirement. To enahle VPSA and the Local Units to fultill their respective obligations under the Proceeds Agreeml'nt and to make such payments. and to enable the Investment Manager to tÌlltill its obligatinns under this Letter Agreement, the Investment Manager will prepare, on or before June I. 2006 and each June I thereatier, the Investment Reports I()r VPSA as nr the preceding November l) and each Local l.:nit as or the preceding November 9. In addition, if a Local Unit has selected a L,":al Unit Cl1mputatilln Date other than an Installment C\Hllputation Dale or the Final Cnmputation Date. the 1nvcstment Manager will preparc the Investment Report ti.lr such Local Unit within (7) days aileI' the Local Unit Computation Date. On thc basis of such Investmcnt Reports. VPSA shall cause thc Rebatc Calculation Agent to prepare (a) the Local Unit Rcbate Computation setting ti.lrth thc Lllca1 Unit Rebate Requircment as of each Computation Datc Ii.lr cach Local Lnit with rcsped tll ,its issue of Local School Bonds as dcscribcd in paragraph -' llf Part B hl'reto and (b) a ealculntion of the 'Yield Reduction Payment as of e¡ll:h CllmputatilHl Datc that must be paid by thl' Local Unit to cnmply with the '¡ïeld Restriction Requirement as described in Part D hereto. In addition. thl' Investment \>Ianager will. hased on the Rebate Report. tram;f'er. within thirty (30) days atkr the Computation Date of each Local l.:nit, trom its Principal SubaeCllunt. if nl'cessary. to its InCllllle Suhaccnnnt. the amount rl'quircd Sll that the amount to the credit llfthe Incomc Subaccount ofcach Local Unit shall equal its Local Unit Rebate Requirement. C-I ....'1"1 ~75:1'·15\ I A Inv~stm~nt R~port With respect to all Nonpurpos~ Inv~Slments acquir~d during the term of this Letter Agreement with Gross Proceeds of each issue of Local School Bonds. the Invcstmcnt \1anager shall maintain scparate Investment Reports till' each issue of Local School Bonds. Thc Investment Report ti)r cadI Lo~al Unit shall retlect thc in\'cstmcnts made with respect to its Pm~ccds Account. B. R~hatc Computation on Local School Bond~ VPSA shall computc each Local Unifs Rebate Requircmcnt with respeet to its issue of Local Schol>l Bonds in accordance with the procedurc dcscribcd helow: I. As of each Computation Date. VPSA shall cause the Rebate Calculation Agent to detennine the Future Value of all nonpurpose payments made with respect to the Nonpurpose Investments purchased with or allocated to the Grl)SS Proceeds of the Local School Bonds, as well as any rebate payments made, to such Computation Date in acwrdance with the rcquirl'ments of the Tn:asury Regulations. Unless VPSA shall otherwise direct, transaction costs incurred in acquiring, carrying, selling or rcdeeming such obligations, shall he accounted for as provided in the 1ntlmnation StaknH:nt. J As of each ComputatiOll Date. VI'SA shall cause the Rehate Calculation Agent to determine thc Future Value of all nonpurpos~ receipts received with respeet to the Nonpurpose Investments pur~hased with nr allocated to thc Gmss Pmeeeds of the Lo~a1 School Bonds, as well as any r~bate payments recovered. to such Computation Date in accordance with thc requirements nf the Treasury Regulations. 3. As of each Computation Datc. VPSA shall suhtract the amount computcd pursuant to paragraph I thlln the amount computed pursuant to paragraph 2. Such amount shall be the "Local Lnit Rehate Requirement"' as of the Computation Date. 4. Eaeh of the Local Units has covenanted in Section 17 of the Proceeds Agreement not to charge its g~neral fund or othl'rwise set aside or eannark funds with which to pay deht scrvice on its Local School ßonds (oth~r than as a budget ikm) prior to th~ date of payment thereof to VI'SA. 5. Th~ Lo~al Unit R~hate R~quircmcnt may be trcatcd as bcing met and no rebate Cl'mputation shall h~ r~quired with r~spect to the proceeds of the VPSA's Bonds appli~d to pur~hase su~h Local Unit" s Local Sdlllol Bllllds if thc V PSA recei ves the ('pinions and covenants or ~ertiticatil)1 d~scribed in Section9A of the Procceds Agrcement that a Local Unit m~cts the requirements of the (a) Six-Mllllth Exception, (h) Eighteen-Month Exception. (e) Small Issu~r Exception. pr (d) Two-Y~ar Exception. suhject to the provisions des~rib~d below. (a) Six-Month Exception. :\otwithstanding the taet that all ofth~ Gross I'mcceds of thc Lo~al School Bonds are spcnt within six (6) months of the datc of issuc and no oth~r Gn)ss Proceeds of the Local School Bonds are anti~ipated Ill[" thc remaindcr of the tcnn of the issue. if Ciross I'roce~ds of the Local S~hool ßonds b~comc available atìer the ('-2 .... Y1 ~7~ ]!'·15\"·1 end of the initial six-month period. the Local Unit Rebate Requirement shall be computed with respect to such Gross Procecds in accordance with the procedure described above. (b) Eilthteen-Month Exception. Notwithstanding the fact that all l)f tbe Gross Proceeds of the Local School Bonds arc spent within eighteen (IX) months of the date of issue and no other Gross Pwcl'Cds of the Local School Bonds arc anticipated for the rl'mainder of the tenll of the issue. if Gross Proeceds of the Local School Bonds become available aHer the end of the initial eightel'n-month period, the Local Unit Rebate Requirement shall be computed with respect to such Gross Proceeds in aeCllrdance with the prllcedurc described above. (c) Sma1l1ssucr Exception. If a Local Unit delivers to VPSA no later than the end llf calendar year 2006 (i) the opinion of nationally recognized bond <:ounsel that the Local School Bonds of such Local Unit purchased hy VPSA with the pmcceds of the VPSA's Bonds will he treated as mecting the requirements of Code Sections 148 (f)(2) and (3) pursuant to Code Section 14X (t)(4)(D) and (ii) the Local enit's covenant that it shall provide for the payment of or reimburse VPSA tòr its payment of the Local Unit Rebate Requirement in lhe event that the Local School Bonds of such Local Unit fail to meet all the requirements of the Small Issuer Exception. then no rebate computation shall be made with respect to the proceeds of VPSA's Bonds applied to purchase such Local School Bonds. Although the Local School l30nds of a Local Unit may qualify for the Small Issuer Exception, custody, investment and disbursement of the proeceds of the VPSA's Bonds applied to the purchase of the Local Unit's Local School Bonds shall Cllotinue umkr the Pwcceds Agrcement, ami the Investment Manager shall continue to provide an Investment Repolt ttlr such I.oeal Unit. 6. In addition to the ttlregoing. no rebate computation shall be required with respect to the proceeds of the VPSA's l30nds applied to purchase a Local Unit's I.lleal School Ronds if a Penalty Elcction has hel'n made on behalf of the Local Unit with respect to such Local School Bonds. C. Al!.l!.rel!.ate Rehate Computatio!).J.l!Ú-,il,\;ill School Bonds In the event that the Treasury Regulations require that the Local Units' Rebate Requirements hl' caleulatl'd ili the aggregate, VPSA shall Cllmpute the Aggrcgate Local Units' Rehate Rl'quirement in aceordance with the pwcedure set forth below. I. As of each ('<Imputation Date, VPSA shall cause the Rebate Calculation Agent to determine the Future Valuc of all nonpurpose payments made with n:,pect to the ':»Jonpurpose Investml'nts purchased with or allocalL'd to the Gross Pwcceds of all of the Local Schooll3onds in the aggregate (l'Xl'Cpt those qualifying lì:>r one of the Rl'bate Exceptions or those that have made the Penalty Election). a, well as any rebate payments made. Il) such Computation Date in aCCllrdam:e with the requirements of the Treasury Regulations. ) As of each Computation Date. VPSA shall cause the Rebate Calculation Agent to determine the Futurc Value of all nonpurpose receipts received with respect to the !\onpurpose Investments purdlUsed with or allocated to the Gross Proceeds of all of the I.ch:al School Bonds (' , . -~, \I'd ~;:'11,·15,·.·1 in the aggregate (except those qualifying tt)r pne PI' the Rebate Exceptions llr those that have made the Penalty Election), as well as any rebate receipts recovered. to such Computation Date in accordance with the rcquirements of the Treasury Regulations. 3. As of each Computatilln Date, VPSA shall subtract the amount computed pursuant to paragraph I ti'om the amount computed pursuant to paragraph 2. Such ampunt shall be the "Aggregate l.ocal Units' Rebate Requirement" as of the Computation Date. D. 'Yield Reduction Pa}111ent With respect to each l.oeal Unit that has amounts on deposit in its Proceeds Accounts pn and after November 9, 2009, VPSA shall cause the Rebate Cakulation Agent to compute, as l,f each Computation Date, the amount ¡hat such Local Unit must pay as a Yield Reduction Pa}111ent pursuant to Treas, Reg. Section I, 148-5(e) in prder to cause the )'ield on the investment of any amounts in the Proceeds Account on and alter November 9, 2009 to be less than or equal to the VPSA's Bond Yield. The calculation of such Yield Reduction Payment shall not t.ike into account any investment activity prior to November 9. 2009. Such amount shall be the "l.ocal Unit Yield Reduction Payment'· as of the C\\I11putation Date. E, Rehate Pavment l. Upon the ealculatilln of the Local Unit Rebate Requirement and Yield Reduction Payment tix each Local l:nit, VPSA shall nlltify the Investment Manager thereof The Investmcnt Manager shall promptly charge the Principal Subaccount of a l.oeal Unit to the extent the amount on deposit to the credit of its Income Subaccount is less than the sum of its Local Unit Rebate Requirement and Local Unit Yield Reduction Payment and credit its Income Suhaeeount with an amount such that the balance to the credit of the Income Subaceount is cqual to the sum of its l.oeal Lnit Rebate Requirl'ment and Ll'eal Unit )"ield Reduction Payment (taking into account prior amounts credited to thl: Income Subaccount ineluding investment income thereon), To the extent that the amount on deposit in the Principal Subaccount is insuftìc.ient to provillc tl'r a deposit to the Income Subaccount such that the balance in the Ineomc Suhaccount is cqual to the sum of the 1.0eal Unit Rebate Requirement and Local Unit Yield Reduction Payment for the Local Unit. thc Investment Managcr "hall advise VPSA and such Local Unit of thc amount of the dcticicney so that the Local LJnit may promptly transfer to the Depnsitory the amount required pursuant tn Section 12 of the Proceeds Agn:ement. 1 In addition tn the computation PI' the Local L,nits' Rebate Rcquircmcnt, VPSA shall calculate its Rebate Requirement with respect to Nnnpurpnse Investments that were acquired with the Gross Proceeds of the VPSA' s Bonds in accordance with the prl1eedures set I()fth in the Tax C'et1itieate executed by VPSA in connection with the issuance of the VPSA 's Bonds. 3, The Local L'nit Rebate Rcquireml'nt ttlr each L,'cal Unit. if a positive number. shall bc paid at the direction of VPSA tn the Unitl'd Statl's in installml:nts. Each payment must be in an amount not less than the total of ninety percent (90'~o) nf thc Local Unit Rebate Requireml'nt for each LncalLJnit as of each Installment Computation Date. All PI' the Local Unit Rebatl' Requirement must be paid to the Lniled States within sixty (60) days alter the Final C'-4 ~y] :'''!5l!:-t~\".. Computation Dat<:. All ofth<: I..o<:al Unit Yidd Redudion Paylllent as of each Cllmputation Date must be paid to the United Slates within sixty (60) days 01" each Computation Date. Each payment shall be made not later than sixty (60) days aner each Computation Date. Payment shall be made to the Internal Revenue Service Center, Ogden, Utah 84201 and be aœompanied oy Form S03X-T. VI'SA shall make such payment as required. Investment Reports and reeLlrds of the determinations made hereunder shall be retained by the Investment Manager and by VI'SA, r<:sp<:<:tively. until six (6) years atì<:r th<: rdir<:m<:nt 01" the last of VI' SA's Bonds. r. Delìnitions In addition to the words and terms dctined in th<: I'roœeds Agreement to whi<:h this I..dter A¡''feem<:nt is atta<:hed as Exhibit C. the following words and terms shall have the Il')lIowing meanings: "Bond Resolution" shall mean th<: resolution of th<: Authority adopted on October 23. 1997. as am<:nded and restated on October 5. 1998, and as supplemented. "Fair Market Price" shall mean the purchase price and disposition priœ of a Nonpurpose Investm<:nt. Any Nonpurpose Investment purchased must be pur<:hased at th<: Fair Market Priœ. An investment that is not of a typ<: traded on an established market. within the meaning of S<:dillll 1273 of th<: Code, is rebuttably presumed to be aequir<:d or dispos<:d of at a price that is not equal to its tllir market valu<:. Aœordingly, a pr<:miummay not be paid to adjust the yield on an inv<:stment. a lower interest rate than is usually paid may not adjust the yield on an investment and no transaction may result in a smaller protìt or larger loss than would have resulted if the transaction had been at arm's-length and had the yield with resped to the Bonds not b<:en relevant to either party. Pursuant to Treasury Regulation Section 1.148-5(d), the following are sati: harbors for establishing th<: Fair Markd Priœ of certilìeates of depllsit and guaranteed investment contracts: Ii) C<:rtitk,\te. q(DeJ)osit. A eertitieate of deposit with a lix<:d int<:r<:st rate, tixed payment schedule and a substantial penalty Illr early withdrawal will be deemed purchased ti,r Ülir market value if the yield on the œrtilìeate of deposit is not less than (i) the yield on reasonably comparable direct obligations of the United Stales and (ii) the high<:st yield published or posted by the provider to be euo-ently availab!..: Ii-om the provider on r<:asonably <:omparable certilieat<:s l'Hered to the public. S<:c Section 1..148- 5(d)(,)(ii) o1"th<: Treasury Regulations. (ii) Investment ðgreem<:nt. Investml'nts pursuant to a guaranteed investm<:nt contract will b<: r<:garded as being made at t~¡jr market value if (a) A bona tìde solidtation Illr a guaranteed investm<:nt <:llntrad is mmk that satislìes all of th<: tilllowing requir<:ments: (A) the bid sp<:citieations are in writing and arc timdy tilrwarded to pot<:ntial pnwiders, (B) the bid spedtìeations inelude all material tl'flllS that may diredly llr indirectly aHe<:t the yidd or the cost of thl' guaranteed investm<:nt contract, (C) the bid speei Iì<:ations include a statement notifying potential providers that submission llf a bid is a representation that the potential provider did not consult with any othe.r potential C-5 N....I ~·.:'lh4~\"A NYI 5"1~11,...~\"... provider about its bid. that the bid was detennined without regard to any other formal or informal agreement that the potential provider has with the Issuer or any other person (whether or not in connection with the issuanec of the Bonds). and that the bid is not being submitted solely as a courtesy to the Issuer or any other pers<m for purposes of satisfying the requirements contained in Section 1.148- 5(d)(6)(iiil(8)( I) or (2) of the Treasury Regulations. (D) the terms of the bid specitications arc cllmmercially reasonable in that there is a legitimate business purpose for each term other than to increase the purchase price or reduce the yield of the guaranteed investmcnt contracts. (E) the terms of the solicitation take into account the reasonahly expected deposit and drawdown schedule tllr the amounts to be invested, (F) all potential providers have an equal opportunity to bid and no potential provider is given the opportunity to review other hids (i.e.. a "Iast look") hdllre providing a bid. (G) in tlwse cases where the Issuer engages a hidding agenl 10 conduct the bidding. such agent did not bid to provide the investment. and (H) at least three reasonably competitive providers are solicited for hids. A "reasonably competitive provider" is a provider that has an estahlished industry reputation as a Cl1mpetitive provider of investments of the same type as such guaranteed investment contract; (b) At least three bona tide hids on the b'l.mranteed investment contraet arc received tì'om providers that have no material financial interest in the Bonds. The Il)lIowing arc deemed to havc a material tinancial interest in the Bonds: (A) thc lead purchaser in a neglltiakd underwriting transaction until 15 days atìer the issue date of the issue. (8) any entity acting as a Iinancia1 advisor with respect to the purehase of the guaranteed investment contract at the time the hid specifications are llxwarded tll potential providers. and (C') a pnwider that is a related parly tll a provider that has a matcrial fìnaneial intcrest in the execution and delivery of the Bonds: (c) At least one of the three bids received IS from a reasonably eompl'titive provider. as described abovc: (d) The winning hidder provides a ecrtiticate that (A) lists the recipients, amounts and purposes llf any hnlkerage ICe. placement tee. commission or administrative costs that it is paying (or expects to pay) to third parties in eonncction with supplying the guaranteed investment contract, (B) states that the yield on the guaranteed investment Cllntraet is not less than the yield available tì'om the provider on reasonahly comparahle guaranteed investmcnt contracts oITered to other pcrsons li'om S(lUrees llf funds other than gross proeecds of tax-exempt obligations. and (e) in those agreements whercin the Issul'r deposits amounts (othcr than amounts deposited in debt service funds or reasllllably required reserve or replacement funds) states that thc 1ssucr" s draw- dO\\'Il schedule was a signiticant factor in determining the terms ofthc guaranteed investment contract; (e) The highest yielding guaranteed investment contract tllr which a bona fide bid was made is purchased (lktermined net ofbroker"s fees, ifany): and ('-6 (l) The tilllowing records arc retained with the bond documents until tbree years aner tbe last outstanding Bond is redeemed: (A) a copy of tbe guaranteed investment contract, (B) tbe reeei pt or other record amount actuall y paid till" the guaranteed investment contract, including a record of any administrative costs paid and the ecrtitication under subsection (d) hereot; (e) tor each bid that is submitted, the nalllC of the person and entity submitting the bid, the time and date tlf the bid. and the bid results. and (0) the bid stllieitation timn and, if the tenns of the guaranteed investment contract deviatcd from thc bid solieitatitHl fÒrm or a submitted bid is l1loditied. a brief statement explaining the deviation and stating thc purpose tilr the deviation. "Future Value" of a payment or receipt at the end of any period is dctermined using the economic accrual method and equals the value of that payment or rccl'ipt when it is paid or received (or treated as paid llr received), plus interest assumed to be earned and compounded over the period at a rate equal to the Yield on the VPSA's Bonds. using the same eompounding interval and tinaneial wnvcntions used to compute that yield. "Gross Proceeds" shall have the meaning aseribed to such tenn in Section 148 of the Code and shall mean: (a) amounts actually received or constructively received by VPSA trom the sale of the VPSA's Bonds and the amounts actually tlr constructively received by the Local Units from the sale of the Local School Bonds, other than any interest aeeruing on the VPSA's ßonds from the dated date to the issue date of such bonds: (b) amounts treated as Transferred Pwt:Ceds (as ddined in Treasury Rcgulations Section 1.148-9) l,f the VPSA' s Bonds or the Local School Bonds. if any~ (e) amounts that are reasonably expected to be or arc in laet used to pay debt service on the Bonds including anltlunts in the sinking fund pnrtion of the 1997 Income Fund undcr tbe Bond Resolution and the 19l)7 Sinkinu Fund ' ~ under the Bond Resolution: (d) securities or obligations pledged by thc VI'S.^. or Local Unit as security ti'>r payment of debt service with respect to the VPSA's 130nds llr the Local School ßonds: (c) amounts received with respect to any investments acquired with Gross Proceeds lilr the purpose of carrying out the governmental purpose tilr which the VPSA's Bonds or the Local School Bonds Wt'rt' issued. ineluding the Local School Bonds, exc,ept that such amounts shall not include al1lounts, if any, that are properly allocable to quali1ied administrative costs rccnvcrable under Treasury Regulation Section 1.14X-5(e) or to the higher yield permitted under Treasury Regulation St,ctilln 1.148-2(d) or Section 143(g) of the Code; ('-7 NYI .~-;~lh...'\·... (t) amounts trealed as ""replaœment pfllceeds" of the VPSA's Bonds or the Local School Bonds within the meaning of section 1.148-1 (c) of the Treasury Regulations: (g) any funds that are part of a reserve or replacement fund tllr the VPSA Bonds or Local School Bonds; and (h) amlHll1ts n:ceived as a result of investing any Gross Proeecds. Gross Proceeds shall inelude amounts that are on deposit in the lneoml' Subaccount to the extent that such amounts arc derived from Gross Proceeds of the VPSA's Bllllds or the Local School Bonds. The determination of whether an amount is included within this dctinition shall be made without regard to whether the amount is credited tn any hllld or account established under the Bond Resolution, or whether the amnunt is subject to the pledge of the Bond Resolution. I'or purposes of subsection (el) above, an amount is pledged to pay principal or interest with respect to VPSA' s Bonds or Local School 130nds i I' there is a reasonable assurancc that the amount will be available for such purposes in the event that the VPSA or Local Unit encounters tinaneial dillieulties. An amount can be indirectly pledged to pay principal or interest with respect to VPSA's Bonds or Local School Bonds if it is pledged to a guarantor of either or both such bonds. An amount may be "negatively" pledged to pay principal or interest with respect to VPSA's Bonds or Local School Bonds if it is held under an agreement to maintain the amount at a particular level lor the direct or indirect benctit of the holders llf the bonds or a guarantor of the bonds. An anlLlunt is not negatively pledged however if (i) VPSA or the Local Units may grant rights in the amount that are superior to the rights of the holders of the bonds or a b'l.tarantor of the bonds, or (ii) the amount docs not exœed reasonable needs tllr which it is maintained, the required IeI'd is tested no more treljuently than every (¡ months. and the amount may be spent without any substantial restriction other than a reljuirement tll replenish the amount by the next testing date. If a decision is made to apply any insurance llr ellndemnation proceeds to the redemption of VPSA's Bonds or Local School Bonds instead of using such proceeds II)r repair or replacement. any such proœeds become Gross Pmceeds on the date of slleh a decision. The delinition of Gross Proœed:< has been set out in tull' ti,r the sake of completeness. With respect to each Local School Bond. all of the Gmss Proeceds arc on deposit in such Local Lnit" s Procceds Account except to the extent that tbe Local School Bonds may be part of a elllnposite isslle under Treasury Regulatillll * 1.150-1 (c), (Ir the Local Unit may have retained Transferred Proceeds. With respect to the VPSA' s Bonds, all of its Gross Proceeds are the total of thc amounts on dep(lsit in thc Procceds Accounts of the Local Units, l'xecpt as providcd above, and the anwunls on deposit in thc sinking fund portion of its 1997 Income Fund undcr thc Bond Resolution and the I (1l>7 Sinking Fund undcr the Bond Resolution. ''In\'l'stment Report"" shall mean the record of investment activity maintained by the Investment \1anager with respect to the investment property and the Local Units, as described in the Contract. c-x NYI :;:-:'I h'¡'''\A "Local Unit's Rcbatc Rcquiremenl" shall mean the Sllln of Ii) the excess of IA) the aggregate amount earned on all :\onpurpose Investments acquired with the Gross I'roeœds ofthc Local School Bonds over (B) the amount that would have becn earned if the Nonpurpose Investments had a Yicld equal to the VPSA's Bond plus (ii) any income attributable to the excess described in clause Ii). ";\onpurpose Inwstmcnts" shall mean any security, obligations, annuity contract or any other investment-type propCtty (as such tenTI is ddincd in Section 1.14R-I(b) of the Treasury Regulations) that is not acquired to carry out thc governmental purpose of the VPSA's Bonds or the Local School Bonds. Nonpurpllse Investmcnts shall not include Tax-I'xcmpt Investments. Any Nonpurj)ose Investments shall be purchased by the Investment Managcr only ifthc purchase price of the :\onpurposc Investment is the Fair \>larkct Price. "Rcbate Calculation Agent"' shall ml'an that accounting linn with a favorable national reputation in the field of the calculation of amounts subject to rebate to the United States under Section 148(t) of the Code and the Temporary Regulations that has been appointed under Section 7.'2 ofthe Contract or by VI'SA. "Tax-Exempt Investments" shall include: (i) obligations the interest on which is exeludablc thlm gross inCllme for federal income tax purposes, and not treated as an item of tax preference under Section 57(a)(5)(C) of the Code. (ii) stoà in a regulated investment company to the extent that at least 95'!'o of the income to the holder of the interest is excludablc rrom gross income Undl'f Section 103 of the Code, and (iii) eertitkal<:s of indebtedness issued by the United States Treasury pursuant to Demand Dl'posit State and Local Govemment Series program described in J I CrR part 344 ("SLGs"). "Treasury Regulations" shall mean the Treasury Regulations Sections 1.148-0 through 1.14x-ll. 1.149(0)-1. 1.149(.1)-1, 1.14<)(e)-L 1.149(g)-L Section 1.150-1 and St'dion 1.150-'2. as amended tÌ'om time to time hereafter, and other regulations promulgated under Section 148 of the Code. "VPSA's Rebate Requirement"" shall mean the sllln of (i) the excess of (A) the agl,'1'egate amount earned on all Nonpurpose Investments acquired with the G1'llSS Proceeds of VPSA's Bonds over (B) the amount that would have been eamed if the Nonpurpose Investments had a Yield equal III VpSA's Bond Yicld plus (ii) any income attributable to the excess described in clause (i). "Yield", tÒr purposes of this Letter Agrecment, shall be calculated pursuant to the Treasury Rl'gulatil1ns by means of an acluarial method of yield calculation whereby "yield" means that discount rate which. when used in computing the present value of all the unconditionally payable payments of principal and interest and all the payments Il)r a qualitìed guarantee paid and to be paid with resped to the bond, prllduees an amount equal to the issue C-9 'lYI :':;]1,15\".1 price orthe bond. For purposes of this I.etter Agreement. the 'lieltl on VPSA's Bonds is [2006 B YIEI.DJ%. The '1'ield on investments must be computed by the use of the same Irequeney interval or compounding interest as is used in computing the Yield on the VPSA's Bonds and the Local School Bonds. C-IO .\1)"1 57~lh..."..-I G. Amendments In onlcr to enmply with the covenants by VPSA and each of the l.oeal Units regarding enlllpliance with the requirements ofthe Code and the exelusion frolll federal income taxation of the interest paid and to be paid on the l.ocal Sehonl ßonds and VPSA' s Bonds, the procedures described in this Letter Agreement may be modified as necessary. based on the advice "I' counsel, to comply with rulings. regulations. legislation nr judicial decisions as may be applicable to such bonds. Very truly yours. VIRGINIA PllBLIC SCIIOOL ALTIIORITY By:____ ~ame: Title: Richard A. Davis Assistant Sceretary allll Assistant Treasurer Accepted: PFM Asset :\Ianagement LLC ßy: :\ame: Aarbara Fava Title: Managing Oireetor C-II \lYl "!'5II,..t;·,4" Exhibit D AllTI/ORIZED REPRESENTATIVES The fiJllowing are the Authorized Representatives of Virginia Public School Autllllrity. Wachovia Bank. N.A. and PFM Asset Management LLC: VIRGINIA PllBLlC SCHOOL Al:THORITY: ;\amc Title Spc'ci1lll'n Si~nature Richard A. Davis Assistant Secretary and Assistant Treasurer Evelyn R. Whitley Assistant Secretary and Assistant Treasurer WACHOVIA BANK, :'I.A.: J",!.Qll]ç Title Specimen Si~nature Richard H. Grattan Senior Vicc President PFI\I ASSET l\IA:'IAGE\lF.NT LLC: Name Title Specimen Si~nature Barhara L. Fava Managing Director D-I \YJ :'~:'[(,~.'\\"..¡ . WOODS ROGERS r ATTOR~EYS AT L A \1(' {;I:' W.l.,¡:.I. :\.\ ·!.I \~(.I 5·t!) ~¡.;.~ -:--:-2"- lll"t~l\"·lj'WI)\.'d'):·(lël"l.~ 1.:,11T~ September 11, 2006 City Council City of Roanoke. Virginia Ihlanoke. Virginia Re: Resolution Authorizing the 1ssu~lI1ce of Not to Excecd 52,1 UO,OOU General Obligation Sl'hool Bonds of thl' City of Roanoke, Virginia, Series 2006-A lor Monterey Ekmcntary Sdlool Gentlemen and \1s. Mason: Our finll serves as bond counsel to the City and Roanoke City Schools in connection with certain schuol bond IÌnancings. On August 17, 2U06, Roanoke City Schools lìled an appli('ation 10 the Virginia Public Schaul Authority (VPSA) for bond financing of up to $2,lUO,OUO for capital improvem('flts at Monterey Elemcntary School. At its August 21. 2006, meeting, Council authorized publication of a notice I'll!' the public hearing requireù under the Public Finance Act bL'll)re the bonds can be issued. The required notice of public hearing was published in the RO(/I/oku Times. on August 25 and September 1.2006, and a public hearing un the proposed bond issue will held belore Council on September 18. 2UU6 (immediately prior to your consideration of the attached resolution). I a!taeh a linal bond resolulion for this school bond ¡Ìnancing for your consideration. The resolution appJ"O\'es the details of the bonds, including an estimated debt service schedule and related documents, and authorizes and dirccts the Mayor or the Vice Mayor and the Clerk or any Dcputy Clcrk of the City to exccull, and deliver the bond to thc Virginia Public School Authority. Following adoptiun of the resolutions. the financing is expected to be linalized and pJ'<\cceds availabk to the City lln or around I\ovember 9,2006. çincereIY'-:ì ! . ,~"--_-c .->---- --~ --- George J. A. Clemo "'r.II'IX~(J"J.i_/. 'j ~ ~'''_'(,-¡I!i!'.''(¡-('/.' :·...:.\'·..,;'5! I' (J, B"x I-H.:?5: Rn;mokl'. Virg:lli;1 ~-10]X-...]25 ;:.~-.·:_',,-;;;;·¡'¡3·!I¡ In :-','ulh Jdlcrsun SITl'Ci, :-:'uih: I-Il)!) "'.:1) '):-:.1-7/'01) Fa\ .';;;.\1) ')l:C~-7Î 11 'll~al:';. wo¡)d~r('g<:r~.'::\l:l1 Olli.::c' ~\~~" 111 Jral.:J...sblilg. [)JIl\'ll1l'. l.yndlhLl'~ and RIl'hr~li)nl1. \'lrgll:::': City Council Pagc 2 cc: William Hackworth, City Attorncy Timothy Spencer, Assistant City Attorncy Kenneth L. Y1undy, Jr., Dire,'tor for Fiscal Services. Roanoke City Schools 'i//9·\ -995-1. /J7:--.~.?6-(l/I()'¡6-UI,' ~'.'r: '55-/ 7~,':(> !¡'I(I.jj I,¡ The Roa~okc 'l'imcs Roanoke, Virqinia Affidavit of Publ~cation The Roa~oke Tinles - - + ~JOODS ROGI::~S f'LC PO BOX 14:25 ATTORNEYS AT LAW ROANOKE VA 2~038 REFER=:NCE, 80028823 98~0150 Geo~ge Clemo NOTICEOFPUBLICHEARI~ State of Virginia City of Roa~oke If (lhe undersigned) an authorized represent.at.ive of the rimes World Corporation, whjch corporation is publisher of the Roanoke Times, a daily newspaper published in Roanoke, in t.he Sta=e of Virginia, do certify that the annexed notice was published in said newspapers on the following dates: City/County of Roanoke, Commonweal=h/State of Vir~i~. Sworn and subsc~ibed before me t.his _ I ~L~aay of September 2006. Witness mï hand a7Ci~. seal. \ ___ ~. ____ _ ~tar,' Public "1'""'"' m~~tiW~~7_ PUBL::-._S~',~D ON, 08/25 09/01 '.lOTA::' COST: FILED ON, 320.16 09/13/06 1=-·'- 'I NOnCE OF PUBLIC HEARING ON PROPOSED BOND II FINANCING BY THE cm OF ROANOKE, I ,VIRGINIA ' . Notice is t:ereby gl~en that. the Countil of the Citvofl Roanoke. Virginia (the "Council"; will lll"lld apublic.i hea~ing, which may be. continued or adjourned. as' Ii- rt:!f1u.~t>~ ~ndf:r 'lPlI~~~.~~.I, .Jaw. at 7:00 P.M. onl'. September 18. 2006. al the . Mu~icip,ll Building, 215.1 ICllurch A~t>nue. S'W"I Roanoke. Virginia. in connt>clionWilhtheintclltloll of the ~oulll.'il to considt!r ñpprovlng thc I~~uance by Ith~ City of its ¡;Cnerill obllgatlor¡ bond or bonClS In . ,m <Imnuntestim,ltcd not to' I p.~ct>ed $2,100,000 tor the pur~ose of tinanci~g (!:'rt.:¡in 'c<lplt;¡1 improvement~ for I ~'ontcrey Elemt'nt.::lrySchool In the City of Ro¡moke, tthl' to re go i n g bo n d ~, t h t! I ,:'Bonds"). 'Any cili7en mterCStt:'d in tht> issuanl.'f:! of .the Bonds may app~ar <Ind I be heard. If YOU area person with iI disabiljt~ WhO, ncedsac(ommodationsfo' I .thls h~¡lIing. plca!'oe com'lctl' the Crty CJl:'rk's Office: .(853 254E )f::'tort'! 12:00:1 ,noon on rriday. St>Dtf:!mber' ·15,2006. . Gi~cn undfJr"1) hand thisl .21st d,IY of August, 2006. . ¡MilfY F. P.1fker. Cit~· Cierk I :Ro.:lnok!:'. Vlrgini<l ,r9H20150) [ L______ ___I Authorized...A.. - ; -,-¡-r-- n... , () Signa ture, --=~!it:~--r-~----_.._-' Bil: ing Services Representat i ve .:O--J ~ ,-, r- ~, ,., 7':: 's' (J""1 (.1) rn ï:l ...... ...r.::.. " '" I·...:.· 1'""1....) (!::'" en / NOTICE OF PUBLIC HEARING ON PROPOSED BOND FINANCING BY THE CITY OF ROANOKE, VIRGINIA Notice is hereby given that the Council ofthc City of Roanoke, Virginia (the "Council") will hold a public hearing, which may be continued or adjourned, as rcquired under applicable law, at 7:00 P.M. on September 18,2006, at the Municipal Building, 215 Church Avenue, S.W., Roanoke, Virginia, in connection with the intention of the Council to consider approving the issuance by the City of its general obligation bond or bonds in an amount estimated not to exceed $2,100,000 for the purpose of financing certain capital improvements for Monterey Elementary School in the City of Roanoke, (the foregoing bonds, the "Bonds"). Any citizen interested in the issuance of the Bonds may appear and be heard. If you are a person with a disability who needs accommodations for this hearing, please contact the City Clerk's Office (853-2541), before 12:00 noon on Friday, September IS, 2006. Given under my hand this 21 st day of August, 2006. Mary F. Parker, City Clerk Roanoke, Virginia {#0985840-1, 077826-Ooo55-01} , , , ",¡II<Ò",', .,. ~,",""",. ..Il.o:"'~'~' .-,.OJ· ": ~ ':"' - . ......~ "".... . Ci~~!lb"~ . STEI)IIA~I[ 1\1. \1001', C\le Accing Cil)' ('Ierk Darlene L. Burcham City Manager Roanoke, Virginia Dear Ms. Burcham: CITY OF ROANOKE OFFICE OF THE CITY CLERK 215 Church A\'fnue, S. W., Rnom 456 Roanoke, Virginia 24011-1536 Telephone: (5-10) 853-25-1J Fax: (5-10H:l53-1145 f.-muiJ; rlerk:~'roanoken.go\· SHEIl.A S. HAnTMAN Assistllllt Cit:r Ol'rk September 20, 2006 File #266 I am attaching copy of Resolution No. 37541-091806 authorizing the proper City officials to make a boundary amendment to the City's Enterprise Zone One A that will delete certain areas currently within it and add certain areas not currently in it; and authorizing the City Manager to apply to the Virginia Department of Housing and Community Development for approval of such boundary amendment, and to take such further action as may be necessary to obtain and implement such boundary amendment. The abovereferenced measure was adopted by the Council of the City of Roanoke at a regular meeting which was held on Monday, September 18, 2006. SMM:ew Attachment Sincerely, '~m,~ Stephanie M. Moon, CMC Acting City Clerk L:ICLERKIDATAICKEW1\AGENDA CORRESPONDENCElagenda correspondence 061Sept 061Sept 18 06 cor,doc Darlene L. Burcham September 20, 2006 Page 2 pc: Rolanda B. Russell, Assistant City Manager for Community Development Jesse A. Hall, Director of Finance R. Brian Townsend, Director, Planning Building and Economic Development Sherman M. Stovall, Director, Office of Management and Budget Susan S. Lower, Director, Real Estate Valuation Harwell M. Darby, Jr., Attorney, Industrial Development Authority, Glenn, Feldmann, Darby and Goodlatte, 210 First Street, S. W., Roanoke, Virginia 24011 L:lCLERKlDATAICKEW1\AGENDA CORRESPONDENCElagenda correspondence 06\Sepl 061Sept 18 06 cor,doc '~I :rr/"'. . ¡¿. IN THE COUr\CIL OF THE CITY OF ROANOKE, VlRGTh.1JA The 18th day of September. 2006. ~o. 37541-091806. A RESOLUTION authorizing the proper City officials to make a boundary ¡imendment to the City's Enterprise Zone One A that will delete certain areas currently within it and add certain areas not currently in it: authorizing the City :Ylanager to apply to ¡he Virginia Department of Housing and Community Development for approval of such boundary amendment, and to take such further action as may be necessary to obtain and implement such boundary amendment, 'VI JEREA.S, there arc ('ertain areas ('urrently located within the City's EnteIl1I1se Zone One A that arc zoned solely residential and that are not able to benefit fi'om the inclusion of these areas within Enterprise Zone One A; WHEREAS, there afl' œrtain areas eun-ently located outside the City's Enterprise Zone One A that are contiguous to it that are not currently a part of Enterprise Zone One A, but that can be added to it and that will benefit from the designation of those additional '¡reas as part of Enterprise Zone One A, as set Conh in a letter from the City Manager to Council dated September IS, 2006; WHEREAS, the Virginia Enwrprise Zone Grant Program, as amended. authorizes the amendment of an existing Enterprise Zone, thereby making qualified business firms which locate or expand within such amended Zone eligible for significant Enterprise Zone benefits as referred to in the above letter; WHEREAS, the ddetion of certain areas and the addition of certain areas of the City as part of the City's Enterprise Zone One A, as set forth above, has a potential to stimulate significant 1 private sector investment within the City in areas where such husiness and industrial growth could result in much necded growth and revitalization; and WHEREAS, this Council, acting in its capacity as the governing body of the City of Roanoke, has held a public hearing on the proposed boundary amendment, at which public hcaring citizens and pmties in interest were afforded an opportunity to be heard on the proposed boundary amendment to Enterprise Zone One A. THEREFORE, BE IT RESOLVED by the Council of the City of Roanoke as follows: 1. The City of Roanoke is hereby applying for an amendment to the City's Enterprise Zone One A, which amendment will delete certain areas currently \vithin it and add additional areas which are cUlTently outside it. This boundary amendment is more fully shown on the maps attached to the Cit)' Manager's letter to Council dated September 18, 2006, and more fully described in such letter. 2. The City l\lanager is hereby authorized to apply, on behalf of the City, to the Virginia Department of Housing and Commuility Development for a boundary amendment to the City's existing Enterprise Zone One A pursuant to the applicable provisions ofthe Virginia Enterprise Zone Grant Program, as amended, which boundary amendment will delete certain areas currently within it and add to it certain areas not currently in Enterprise Zone One A, all as more fully set forth in the ahove mentioned letter. 3. Council hereby certifies that it held a puhlie hearing as required by the Virginia Enterprise Zone Program Regulations. 4. The City Manager is authorized to submit to the Virginia Department of Housing and Community Development all in formation necessary for thc application for thc boundary amendment 2 · to the City's Enterprise Zone One A for the Department's review and consideration and to take such further action as may be necessary to meet other program requirements or to establish thc boundary amendment as set forth above. The City Clerk is authorized to execute and attest any documents that may be necessary or required for the application or for the provision of such infonJ1ation. 5. Any such approved boundary anlcndmcnt will be retroactive to January 1,2006, or as ' othcrwise provided by such approval from the Virginia Department of Housing and Community Development. ATTEST: ~Yh.~ a ~ City Clerk. K i~ŒASt:¡U;S\F.NT¡;F:I'RISE Z.O~E BOUNDARY 0"'£ A '::00{, noc , ~ CITY OF ROANOKE OFFICE OF THE CITY CLERK 215 Church Avenue, S. W.. Room 456 Ro:moke. Vir~inia 24011-1536 Telellhonc: (540) 853-254] Fax: (540) 853-1145 1:>lIIail: clcrk@:·rollnokc\n.Ao,· SHEILA 1<. HARTMAi'O Assistant Cit~· Clerk STEPHANIE ~I. ''100:'<. ole ,\cling City Clerk September 20, 2006 File #60-266 Darlene L. Burcham City Manager Roanoke, Virginia Dear Ms. Burcham: I am attaching copy of Ordinance No. 37542-091806 amending Ordinance No. 36782-071904, adopted by City Council onJuly 19, 2004, by modifying certain local incentives contained therein for Enterprise Zone One A; and authorizing the City Manager to apply to the Virginia Department of Housing and Community Development for approval of such amendments and/or to take such further action as may be necessary to obtain or confirm such amendments. The abovereferenced measure was adopted by the Council of the City of Roanoke at a regular meeting which was held on Monday, September 18, 2006, and is in full force and effect upon its passage. Sincerely, ~ 'ó¥ì. lJM) Stephanie M. Moon,~_ Acting City Clerk SMM:ew Attachment pc: Jesse A. Hall, Director of Finance Sherman M. Stovall, Director, Office of Management and Budget R. Brian Townsend, Director, Planning, Building, and Economic Development Mr. Dennis R. Cronk, Chair, Industrial Development Authority, 3310 Kingsbury Circle, S. W., Roanoke, Virginia 24014 Harwell M. Darby, Jr., Attorney, Industrial Development Authority, Glenn, Feldmann, Darby and Goodlatte, 210 First Street, S. W., Roanoke, Virginia 24011 L:\CLERKlDATA\CKEW1\AGENDA CORRESPONDENCElagenda correspondence 06\Sept 06\Sept 18 06 cor.doc p~ [\ THE COUKCIL Of THE CITY OF ROA..."\JOKE, VIRGINIA The 18th day of September, 2006. No. 37542-091806. AN ORDINANCE amending Ordinance No. 36782-071904, adopted by City Council on July 19,2004, by modifying cerlain local inccntives contained therein for Enterprisc Zone One A; authorizing the City Manager to apply to the Virginia Depanment of Housing and Community Development (VDHCD) for the approval of the such amendments andior to take such funher action as may be necessary to obtain or confirm such amendments: and dispensing with the second reading by title of this ordinance. WHEREAS, the City received a dcsignation in June 2004 from the Govcrnor of Virginia of a new Enterprise Zone One A. retroactive to .I anuary 1, 2004; \,yHEREAS, on July 19, 2004, City Council adopted Ordinance Ko. 36782-071904, which adopted ccnain local incentives for Enterprise Zone One A, which included grants from the Industrial Development Authority of the City of Roanoke, Virginia (IDA) for fa,ade grants under certain conditions. City staff recommends that the definition of fa,ade be modilìed: and WHEREAS, on July 19, 2004, City Council adopted Ordinance No, 36782-071904, "'hich adopted certain local incentives for Entcrprise Zone One A, which included grants from the IDA for a percentage of monthly !ìre service charges for a new, JÌrst time fire suppression system that was voluntarilv installed, and that Citv staff has recommended that such grants be _ .. J ~ extended to such fire suppression' system whether voluntarily installed or installed due to requirements of applicah1e codes, and to place a cap on such grants. THEREFORE, BE IT ORDAINED by the Council of the City of Roanoke as follows: K:\:\leasurcs\EZ ûne A Incentives l\rncnlimcnt 20ùú.doc 1. Ordinance 1\'0. 36782-071904, adopted by City Council on July 19, 2004, IS hereby amended as follows: A. Paragraph number 4 is de]etcd and is hereby replaced by the [ollowing paragraph number 4: 4. Thc City will provide funds to the Industrial Development Authority of the City of Roanoke, Virginia, (IDA) so that the IDA can enhance economic development in Enterprise Zone One A by providing façade grants to a business finn, property owner, or leaseholder authorized to make improvements, of one-third of any bui ¡ding façade renovation costs for those làçades in need of rcnovation that visually improvcs the làçade (a façade beÜig the portion of any cXlerior elevation which faces or abuts a public right-or-way and contains the principal entrancc to the building or is immediately adjacent thereto) of a building within Enterprise Zone One A up to a maximum of Twenty-five Thousand Dollars (525.000) per grant with a total yearly limit for all such grants of at least One Hundred Thousand Dollars (5100,000). The uses for such building are to be commcrcial, mixed-use commercial with no more than SO~ri of the building being used for residential purposes, (hereinafter refcrred to in this ordinance as "mixed-use conunereia]"), or industrial use. The availability of this local incentive is from January 1, 2004, through Decembe'r 31. 2023, at which time the Enterprise Zone One A designation will end, unless otherwise modified by Council. The City Manager shall establish appropriate rules and rcgulations necessary to imp]emcnt this local incentive. B. Paragraph number 7 is deleted and is hereby rcp1aced by the following paragraph number 7: 7. The City will provide funds to the Industrial Development Authority of the City of Roanoke, Virginia. (IDA) so that the lOA can enhance safety in Entcrprise Zone One A by providing new, first time fire suppression system retrofit grants to a business 1ìrm, properlY owner, or leaseholder authorized to make improvements, who installs such a systcm in an existing building in Enterplise Zonc One A, whether or not required to do so by applicable codes, which grant will provide assistance for monthly fire service charges for such system. Each grant shall be for a period not to exceed five (5) years and shall be good only as long as such system is actively maintained. Such grant may be transferred to a new entity responsible for such charges upon notice to and approval by the City. Grants shall be in an amount equal to thc following percentagcs of the monthly 1ìre service charges that have bcc.n paid, subject to the yearly maximum amounts as noted below: K:\r-.1e:!surcs\EZ One A Incentives Amt'tlclmenr 2006.èoc .., Year One - 50% of monthly fire service charges paid, but not to exceed $1,000 per year. Year Two - 40% of monthly fire service charges paid, but not to exceed $800 per year. Year Thrce - 30% of monthly fire service charges paid, but not to exceed 5600 per year. '{ car Four - 20% of monthly fire service charges paid, hut not to exceed 5400 per year. Year Five - 10% of monthly fire service charges paid, but not to exceed S200 per )'car. The uses for such existing huilding for such grants are to be for prolit commercial, mixed-use commercial, or industrial. The availability of this modi lied local incentive is from January 1, 2006, through December 3 l, 2023, at which timc the Enterprise Zone One A designation will end, unless otherwise modilicd by Council. The City Manager shall establish appropriatc m1es and regulations necessary to implement this local incentive. 2. City Council hereby certifies that it held a public hearing as required by the Virginia Enterprise Zone Program Regulations. 3. The local incentive amendments set forth above and in the City J\1anager's Jeller dated September 18, 2006, are supported by Council, but Council notes they are subject to approval by the VDHCD and should any of them not be approved, those not approved will not become cffectivc so that any prior measures, if an)', on the particular maller. will stay in efTect. Furthel11lOre, if the VDHCD approves such items, the effective date for any such approved item will he retroactive to January 1, 2006. 4. 1\])Y funding required for any such local incentivcs is suhject to the appropriation of such funds hy Council. 5. As amended, Ordinance No. 36782-07] 904, adopted on July] 9, 2004, and as it may have hcen subsequcntly anlended, is hereby affirmed and remains in full force and cffect. K:\Mc;;s\:res\EZ One:\ II1(,clll1\e... Amendment 200G.dor 3 6. Thc City Managcr is authorized to submit to the VDHCD all information necessary for approval or confinnation ofthc abovc amcndmcnts regarding local inccntives and to take such jilrther action or to exccute such furthcr documents as may be neccssary to mcet other program requircments or to establish and administcr thc locai incentives as set forth above. The City Clerk is authorized to execute and attest any documents that may be necessary or required for the purposes as sct fonh above. 7. Pursuant 10 thc provisions of Scction 12 of the City Charter, the second reading of this ordinance by title is hcreby dispenscd with. ATTEST: ~m.~ ~ City Clerk. K:\Ì\le;:surcs\FZ ()ne A lm:cnll\'es Amendment 2006.doc 4 SHEllA~, HART:\lA~ Assislant Ot) Clerk STEPIIA~I[ ~1. ~100~. Ole .·\l'ling Cil~· Cll'rk September 20, 2006 File #60-266 Darlene L. Burcham City Manager Roanoke, Virginia Dear Ms. Burcham: I am attaching copy of Resolution No. 37543-091806 authorizing the proper City officials to make a boundary amendment to the City's Enterprise Zone Two that will delete certain areas currently within it and add certain areas not currently in it; and authorizing the City Manager to apply to the Virginia Department of Housing and Community Development for approval of such boundary amendment, and to take such further action as may be necessary to obtain and implement such boundary amendment. The abovereferenced measure was adopted by the Council of the City of Roanoke at a regular meeting which was held on Monday, September 18, 2006. Sincerely, , , th.~avrJ Stephanie M. Moon, CMC Acting City Clerk SMM:ew Attachment pc: Jesse A. Hall, Director of Finance Sherman M. Stovall, Director, Office of Management and Budget R. Brian Townsend, Acting Director, Economic Development Mr. Dennis R. Cronk, Chair, Industrial Development Authority, 3310 Kingsbury Circle, S. W., Roanoke, Virginia 24014 Harwell M. Darby, Jr., Attorney, Industrial Development Authority, Glenn, Feldmann, Darby and Goodlatte, 210 First Street, S. W., Roanoke, Virginia 24011 L:ICLERK\DATAICKEW1\AGENDA CORRESPONDENCElagenda correspondence 06\Sepl 061Sept 18 06 cor.doc p·fi / ]N THE COUNCIL OF THE CITY OF ROANOKE, V]RGINIA The 18th day of September, 2006. No. 37543-091806. A RESOLCT]O:--J authorizing the proper City omcials to make a boundary amendment to the City's Enterprise Zone Two that will delete certain areas currently within it and add certain areas not currently in it; authorizing the City Manager to apply to the Virginia Department of Housing and Community Development for approval of such boundary amendment, and to take such further action as may be necessary to obtain and implement such boundary amendment. WHEREAS, there arc certain areas currently located within the City's Enterprise Zone Two that are zoned solely residential and that are not able to henefit from the inclusion of these areas within Enterprise Zone Two; WHEREAS, there arc certain areas currently located outside the City's Entelvrise Zone Two that are contiguous to it that arc not currently a part ofEntelvrise Zone Two, but that can be added to it and that will benefit from the designation of those additional areas as part of Enterprise Zone Two, as set forth in a letter trom the City Manager to Council dated Septemher IS, 2006; WHEREAS, the Virginia Enterprise Zone Grant Program. as amended, authorizes the amendment of an existing Enterprise Zone, thereby making qualified business fim1s which locate or expand within such amended Zone eligible for significant Enterprise Zone benelits as ref cITed to in the above letter; W] lEREAS, the deletion or certain areas and the addition of certain areas of the City as part of the City's Enterprise Zone Two, as set forth above, has a potential to stimulate significant private ] sector investment within the City in areas where sueh business and industrial growth could rcsult in mueh needed growth and revitalization; and WHEREAS, this Council, acting in its capacity as the goveming body of the City of Roanoke, has held a public hearing on the proposed boundary amendment, at whieh public hearing citizCIls and parties in interest were anòrded an opportunity to be heard on the proposed boundary amcndment to Enterprise Zone Two. THEREFORE, BE IT RESOLVED by the Council of the City of Roanoke as follows: ]. The CiTY of Roanoke is hereby applying for an amendment to the City's Enterprise Zone Two, which amendment will delete certain areas currently within it and add additional areas which are currently outside it. This boundary amendment is more fully shown on the maps attached to the City Manager's letter to Council dated September] 8,2006, and more fully described in sueh leller. ~ The City \1anager is hereby authoriz,ed to apply, on behalf of the City, to the Virginia Department of Housing and Community Development for a boundary amendment to the City's existing Enterprise Zone Two pursuant \0 the applicable provisions of the Virginia Enterprise Zone Grant Program, as amended, whieh boundary amendment will delete certain areas eU1Tentl)~ witmn it and add \0 it certain areas not currently in Entel1Jrise Zone Two, all as more fully set forth in the above menlioned letter. 3. Council hereby certi1ìes that it held a public hearing as required by the Virginia Enterprise Zone Program Regulations. 4. The City Manager is authorized to submit to the Virginia Depanment of Housing and Community Development all inflmllOtion necessary for the application for The boundary amendment ~ to thc City's Enterprise Zone Two for the Department's review and consideration and to take such further action as may be necessary to mect other program requircments or to cstablish thc boundary amcndmcnt as set forth above. The City Clerk is authorized to cxecutc and attcst any documents that may bc neccssary or required for the application or for the provision of sueh information. 5. Any such approycd boundary amenùment will be retroactivc to January]. 2006, or as otherwise provided by such approval from thc Virginia Department of Housing and Communit)' Dcye10pment. ATTEST: c;~~:::: r K.'_\IEASL."RF.S\F.:\l rRrRIS[ zm:r: BOl:/'.'DARY TWO :(lOt:. DOC: " -' TV OF ROANOKE , E OF THE CITY CLERK ....;.~. ,#w.:. ùi2ci¡. ., 5 Church Awnue. S. W., Room 456 "",¡;\Ii Roanoke. Virginia 24011-1536 Telcphone: (~-4018~3-2541 Fax: (5-010) 85.1-1145 E-mail: dl'rkl('I"1l8I1okr\1l.g0\" SIIF.II.A :\. IIART'lAl' Assishllll Cit~ C1crk STEPIIA~I[ M. MOO... eMe ,\cling (ï[~' C1l'rk September 20, 2006 File #60-266 Darlene L. Burcham City Manager Roanoke, Virginia Dear Ms. Burcham: I am attaching copy of Resolution No. 37544-091806 amending Ordinance No. 33019-070196, adopted by City Council on July 1, 1996, by adding a local incentive not contained therein; clarifying definition of the term "business firm" as used in references relating to Enterprise Zone Two; and authorizing the City Manager to apply to the Virginia Department of Housing and Community Development for approval of such items and/or to take such further action as may be necessary to obtain or confirm such items. The abovereferenced measure was adopted by the Council of the City of Roanoke at a regular meeting which was held on Monday, September 18, 2006. , ÌY), ~óJW Stephanie M. Moon, CMC ' Acting City Clerk SMM:ew Attachment pc: Jesse A. Hall, Director of Finance Sherman M. Stovall, Director, Office of Management and Budget R. Brian Townsend, Director, Planning, Building, and Economic Development Mr. Dennis R. Cronk, Chair, Industrial Development Authority, 3310 Kingsbury Circle, S. W., Roanoke, Virginia 24014 Harwell M. Darby, Jr., Attorney, Industrial Development Authority, Glenn, Feldmann, Darby and Goodlatte, 210 First Street, S. W., Roanoke, Virginia 24011 L:\CLERK\DATA\CKEW1\AGENDA CORRESPONDENCElagenda correspondence 06\Sept 06\Sep118 06 cOLdoc 0(" :(. ,..1 , IN THE C01JNCIL OF THE CITY OF ROA,,'\OKE, VIRGINIA The 18th day of September, 2006. No. 37544-091806. AN ORDINANCE amending Ordinance No. 33019-070196, adopted by City Council on July 1, 1996, by adding a local incentive not containcd therein; clarifying the delìnition of the term "business firm" as used in references relating to Enterprise Zone Two; authorizing the City !\1anager to apply to the Virginia Depal1111CJ1t of Housing and Community Development (VDHCD) for the approval of such items and/or to take such further action as may bc necessary to obtain or confiml such items; and dispensing with the second reading bv title of this ordinance. WHEREAS. on July 1, ] 996, City Council adopted Ordinance No. 33019-070196 approving, adopting, and establishing cel1ain local inccntives for the area desi~'T1ated as Enterprise Zonc Two in the City of Roanoke, and which applied to a Subzone that was created by a boundary amendment authorized by Resolution No. 34024-092198, adopted by Council on September 21. 1998; WHEREAS, on February 22, 2005, City Council adopted Ordinance ]\'0. 36984-022205, for the pllll10se of modi(ving certain local incentives contained in Ordinance ]\'0. 35820-041502 and extending the availability of such local incentivcs through December 31,2015; WHEREAS, City staff has recommended the addition of a local incentive to Enterpriše Zone T\\'o to proYide for grants jor certain parking lot improvements, including landscaping; and WHEREAS, City staiT has recommended clarifying the definition of the term "business jìr111" as used in references relating to Enterprise Zone Two in light of recent state code amendments. THEREFORE. BE JT ORDAIKED by the Council of the City of Roanoke as follows: K:\t\.1l':!'sul"rs\EZTwo In.:cnli\'es Amcndmcnl2006.cioc I. Ordinance No. 33019-070196, adopted by City Council on July 1, 1996, is hereby amended by adding the following additional local incentive to the City's Enterprise Zone Two, which includes its Subzone: A. The City will provide funds to the Industrial Development Authority of the City of Roanoke, Virginia. (IDA) so the IDA can enhance economic development in Enterprise Zone Two by providing grants for parking lot improvemcnts, including landscaping, as set forth herein. Such parking lot f,'Tants may be available to a busincss firm with a huilding at least 15 years old with an unpaved parking lot adjaecnt to such building, which parking lot is void of landscaping and which parking lot contributes stormwater runoff to a City-owned detention pond. Howcver. any paving improvement plans must be approved by the IDA prior to the start of any work. Such work must include landscaping required by the current zoning rcquirements. l:pon completion of such work, including landscaping, and any required approvals, such business firm may then request that a grant of up to one-third of thc actual cost paid by such business firm to pave and landscape such parking lot up to a total grant amount of S25,OOO per tax parcel or contiguous tax parcels on which that one parking Jot is located and for which the grant is requested. The City intends to providc at least $50,000 per year for this local incentive. B. The City Manager is authorized to establish appropr,iate rules and regulations neecssary to implement and administer this local incentive. .., The term '"business firm" as used in references for Enterprise Zone Two is hereby clarified so that such term is defincd as it was set forth in Section 59.1-271 of the Code of Virginia (1950), as amended, as of Junc 30, 2005, before that section expired, and also includes any for profit business entity. 3. City Council hereby certifies that it held a public healing as rcquired by the Virginia Emerprise Zone Program Regulations. 4. The local incentive amendments andíor items set forth ahove and in the City Manager's letter dated September 18,2006, arc support cd by Council, but Council notes they are subject to approval by thc VDBCD and should any of them not be approved, thosc not approvcd will liot become effective so that any prior measurcs, if any, on the particular mattcr. will stay in effect. Furthemlore, if the VDBCD approves such items, the effective date for any such approved item will be retroactive to January I, 2006. K:\y\1casures\EZTwo lncenti\'es Amendment 2006...10': .., 5. Any funding required for any such local incentives is subject to the appropriation of such funds by Council. 6. As amended, Ordinance No. 33019-070]96, adopted July 1, 1996, and as it may have been subsequently amcnded, remains in full force and effect. 7. The City :vlanager is authorized to submit to the VDHCD all infonnationnecessary for approval or confirmMion of the above items rcgarding local incentives and to take such further action or to execute such further documents as may be necessary to meet other program requirements or to establish and administcr the local incentives as set forth above. The City Clerk is authorized to execute and attest anv documcnts that lllay be necessary or required for the purposes as sct forth above. S. Pursuant 10 the provisjon~ of Section 12 of the City Charter, the second reading of this ordinance by title is hereby dispen~ed with. ATTEST: ~Cityt2'1~ K "\Mco.su;cs\EZTwo Incenti\'es Amen~mcll: 2006.Joc 3 CITY OF ROANOKE OFFICE OF THE CITY CLERK 215 Church Annue. S. Woo RooIß456 Roanoke. Virginia 24011-1536 Tclelhollt': (540) 853·2541 Fax: (~40) 853-1145 E·mail: c1erk@..roanokc\'a.go\" SHEILA ~. HAJ{T\1A~ Assislant Cil~' Clerk STEPHA~IE ". \100~, ("Me Actin!:: Ot)' Clerk September 20, 2006 File #60-266 Jesse A. Hall Director of Finance Roanoke, Virginia Dear Mr. Hall: I am attaching copy of Budget Ordinance No. 37545-091806 appropriating funds from the Economic and Community Development Reserve for the Enterprise Zone One A and Enterprise Zone Two Projects, and amending and reordaining certain sections of the 2006-2007 Capital Projects Fund Appropriations. The abovereferenced measure was adopted by the Council of the City of Roanoke at a regular meeting which was held on Monday, September 18, 2006, and is in full force and effect upon its passage. Sincerely, ~~/~F Acting City Clerk SMM:ew Attachment pc: Darlene L. Burcham, City Manager Sherman M. Stovall, Director, Office of Management and Budget L:ICLERK\DA T A\CKEW1 \AGENDA CORRESPONDENCElagenda correspondence 061Sepl 061Sepl 18 06 cor.doc ~~ IN THE COUNCIL OF THE CITY OF ROANOKE, VIRGINIA The 18th day of September, 2006. ~o. 37545-091806. AN ORDINANCE to appropriate funding from the Economic and Community Development Reserve for the Enterprise Zone One A and Enterprise Zone Two Projects, amending and reordaining certain sections of the 2006-2007 Capital Projects Fund Appropriations, and dispensing with the second reading by title of this ordinance. BE IT ORDAINED by the Council of the City of Roanoke that the following sections of the 2006-2007 Capital Projects Fund Appropriations be, and the same are hereby, amended and reordained to read and provide as follows: Appropriations Appropriated from General Revenue Appropriated from General Revenue Fund Balance Economic and Community Development Reserve - Unappropriated 08-310-9736-9003 08-310-9760-9003 $ 50,000 50,000 08-3365 (100,000) Pursuant to the provisions of Section 12 of the City Charter, the second reading of this ordinance by title is hereby dispensed with. ATTEST: ~ðY7.'1omJ ~ City Clerk. ' CITY OF ROANOKE OFFICE OF THE CITY MANAGER Noel C. Taylor \t1llnicipal Building 21:; Church A\'l~nu~, S.\V., I{OlHl1 3h4 Roanoke, Virginicl 24ll1l-1591 [,dl'~'lllllll':' 15W) tì~~-~.13' ¡:,l': t.,-ttl I S;."'\-ll1S (itv \\'l'ì.: \'·W\'",ft'.lllllkt.'\',\ gP\" September 18, 2006 Honorable C. Nelson Harris, Mayor Honorable David B. Trinkle, Vice Mayor Honorable Beverly T. Fitzpatrick, Jr., Council Member Honorable Alfred T. Dowe, Jr., Council Member Honorable Sherman P. Lea, Council Member Honorable Gwendolyn W. Mason, Council Member Honorable Brian J. Wish neff, Council Member Dear Mayor Harris and Members of City Council: Subject: Approval of Enterprise Zone One A and Enterprise Zone Two and its Subzone Amendment Applications and Amendments to Ordinances No. 33019- 070196 and 36782-071904 Background: Since the creation of Enterprise Zones One A and Two and its Subzone, which include residential properties, the need to include residential areas in the zones has been lessened. Amendments are being proposed to the Enterprise Zone programs which would remove from the zones the majority of the areas zoned solely residential. As part of the process of removal, each property owner was sent notification prior to submission of this letter. Copies of the proposed amendment applications, including maps, are available for review in the City Clerk's office and in the Economic Development Division's office. If most of the residential portions of the zones are removed, commercial and industrial pockets previously left out due to size limitations on such zones can be added. The Zone One A boundary amendment would include some highly visible land, approximately 32 acres, running along Interstate 581, an area of about 22 acres along Melrose Avenue near Lafayette Boulevard, and a little over 10 acres of vacant land in the northwestern section near Steel Dynamics. Mayor Harris and Members of City Council September 18, 2006 Pag e 2 Enterprise Zone Two and its Subzone would gain a portion of Plantation Road north of Liberty Road of approximately 16 acres and 28.5 acres of an industrial area off of King Street on Glade View Drive. Maps showing the proposed boundary amendments are attached hereto and are also on file in the City Clerk's Office. (Attachment 1) Each amendment application also proposes modifications to certain incentives. The proposed amendment for Enterprise Zone One A would amend Ordinance No. 36782-071904 as noted herein. In Enterprise Zone One A, the fire suppression retrofit grant is underutilized because it applies only to those commercial, mixed use commercial, and industrial buildings installing a new, first time fire suppression system when not required by code. The amendment proposed is to modify the fire suppression retrofit grant, which pays through IDA grants a percentage of the monthly fire service charge for such system, to allow existing commercial, mixed use commercial, and industrial buildings to install such fire suppression systems, whether required by code or not. The present incentive allows 50% payment of the annual total of the monthly fire suppression charges in the first year, 40% in the second, 30% in the third, 20% in the fourth, and 10% in the fifth. Because the City does not receive the payments for the fire service charges (they are paid to the Western Virginia Water Authority), grants would be capped at a percentage of the charge of the average line size of 6" yearly rate. For example, if an owner installs a new fire suppression system into an existing building, the fire hookup charge would be paid according to the Water, Fire and Sewer Hookup incentive. However, the total of the monthly bills for fire service charges for the system would be submitted on a yearly basis between January 1 and March 31 for the previous calendar year. A 6" line fire service costs $2,000 per year. The first year, the grant would not exceed $1,000. In the second year at a 40% rate, the grant would not exceed $800, the third year $600, etc. The grant structure would be capped to accommodate an anticipated increase in the number of applicants. In addition to the current incentive, the Industrial Development Authority of the City of Roanoke, Virginia, (IDA) has asked to modify the existing definition of a façade for the Façade Grant program in Enterprise Zone One A. The definition would be changed to "the portion of any exterior elevation which faces or abuts a public right-of-way and contains the principal entrance to the building or is immediately adjacent thereto." This definition will limit the incentive to one side of a building only. The proposed amendment for Enterprise Zone Two and its Subzone would amend Ordinance No. 33019-070196 by adding an incentive to improve certain Mayor Harris and Members of City Council September 18, 2006 Page 3 parking lots with landscaping and paving. There are many unpaved gravel parking lots in this zone. Not only are they very unsightly, but they also are contributing gravel and other materials to City-owned detention basins, shortening their life. Therefore, the City proposes to provide, through IDA grants, up to one-third of the cost of paving such parking lots, provided landscaping according to zoning regulations is part of the project, up to a maximum of $25,000 per parking lot. The IDA would have to approve the work for this incentive prior to the start of work. The proposed amendment would also clarify the term "business firm" as used in references for Enterprise Zone Two in light of recent state code changes. In order to establish the Parking Lot and Landscaping incentive, it is necessary to appropriate funds to the Enterprise Zone Two account the amount of $ 50,000, which is the yearly amount provided for this incentive. Due to the overwhelming response, funds for the façade grant program are nearly depleted for the 2007 fiscal year. The IDA requests that Council appropriate an additional $50,000 to the façade grant program. In accordance with the Department of Housing and Community Development's Virginia Enterprise Zone Program regulations, the local governing body must hold at least one public hearing affording citizens or interested parties an opportunity to be heard on such matters before submitting an amendment application to the department for consideration. Such public hearing will be held at Council's regular 7:00 p.m. meeting on September 18, 2006. The amendments mentioned above are subject to approval by the Virginia Department of Housing and Community Development (VDHCD), and, if approved, will be retroactive to January 1, 2006. Recommended Action: Absent comments at the public hearing requiring further consideration, City Council adopt the appropriate measures, including the amendments of the ordinances mentioned above, to extend the boundaries of Enterprise Zones One A and Two and its Subzone and to amend certain local incentives for Enterprise Zone One A and Zone Two and its Subzone, subject to approval by the VDHCD, with an effective date retroactive to January 1, 2006, for the amended local incentives, all as set forth above. Furthermore, City Council authorize the City Manager to apply to the VDHCD for approval of the above described amendments and to take such further action and/or to execute such additional documents as may be needed to Mayor Harris and Members of City Council September lS, 2006 Page 4 obtain or confirm such amendments, and to establish appropriate rules and regulations as may be needed to implement and administer such local incentives once approved. Appropriate funding in the amount of $50,000 from the Economic & Community Development Reserve to a new project account titled "Enterprise Zone Two Parking Lot Incentives" to be established in the Capital Projects Fund. Appropriate funding in the amount of $ 50,000 from the Economic & Community Development Reserve to a new project account titled "Enterprise Zone One A Façade Grant" to be established in the Capital Projects Fund. Respectfully sub ol~· Darlene L. Bur City Manager ~ DLB:cc C: William M. Hackworth, City Attorney Jesse A. Hall, Director of Finance Stephanie Moon, Acting City Clerk R. Brian Townsend, Director of Planning, Building and Economic Development Sherman M. Stovall, Director of Management and Budget Harwell M. Darby, Jr., Assistant Secretary and Council to the Industrial Development Authority CM06-0 161 '. , '-;;" \ " ...... \ 'I !I I Ii II :¡ " I ,. 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" ", " (]) 0 ~ - 0 !/IN C Ol Ol Ol ro OlC !/l cO:J 0 f ..êN-c 0:: ,0 ~\ uOlC ;? - -0 .~ co '" 0 ~-' N .è' OJ ~..c: - !/lOl_ ! 0+-"- Ü Q.c3: ew [L .-.-.- ,__ /1:¿r"';';,¡ \ .:i.-/ \ , ~~~~~~f: -~\'.. , ., .-----,;ç),- "- \. ....:/":- j-<::' ./ ':.\ ./·I"-~· ( ,/ ~ b.~ Ì ¡¡¡ml; .- ("', \ " ~~,'\"<' .<};~\. -' i/l" ¡ (. r I L ., ~ Ul .~ ~ ..::¡ ~ t w : f ~ Q. ,_.0 ra I ,z :E: :~ , , , ~ a. -:i: if" ....I i <~ 8. ~ w ",",- r- ~ t.3 :s :f; ~ 111 ; " ~ j .. ." õ g .~ --0"1 ',¡ LJ ,i' ../ .'" ---:-'--- " .::-~ ~ . /" -~ --<=!._-~-~;... .:.5f:>l J '; .',0///: ~'I;':_:'~ / /, i /iA::t /. .~. tJ~: ,; ';·'·l·~¡·.i J ¡r- NonCE OF I !'3Ì'~"ãñiend theEñtërj)rlse-' . I I Zone One A Jocal mChnllVp.! I _ PUBLIC HEARING II to'"'''' ,,',', 'to"" to I ~' , amf:nfl the dellnllll)n of: NotIce IS hereby glvEln thai! l<lç¡¡dc,Js uscdthcrcm . I the Council of the City Of¡ 4 To amend the EntcrptlSCI i Roanoke WIll hold a public Zone One A loc,!1 incentive! heimng on the matters set regarding fIre suppression ~ forth below .:It its regular I s~stcm gr¡mts for .flre sel"irce meellng 10 be held ani charges and fCli fire hookup Monday, September 18. lfees. 10 ¡nclude placing ¡] 1 2006. commcncing at 7:00 tap on such grants. " p.mh local time. or as soon 5. To amend the EnterprlSC, thereafter as the matters' . Zone. Two ¡]~d lIs SU~lOnel !may be heard. in the ,loc~J~n.tenlrvesto.cl¡:mt~.the· Council Chamber<:. 4th Floor, ,defrnltlOn of busln.tlss fl~m Noel C. Taylor Municipal; . and to a.dd aloeallncentl~e Building, 215 Church. Ito prov.lde for gr.ants fori :Avenue, S. W.. Roanoke. ~erta.ln [lark.lng I.O~, ¡Virginia. Further information !Improve.nlents. Including is a~ailable in the OHice of ,landscaping. : It h.e C i I Y C I E.' r k :A copy of map!ÕÒ a.nd other, !i 540)853-2541. or from documents deSCribing the I I Christopher Copenhaver, propos~d <I re<l of the 'Economic Development Enterprise Zone One A .SperJaJisl.r540.i853-2715. amend":Jent anrj the¡ 'Pursu<lnttotheprovisionsof Enterprise Zonfo Two Ithl.'Virglnia Enterprise Zone <lmendmenl. and Iheother IGrant Program. Sections matters r~ferred to above. 59.1-538 et seq.. Code of ar~ o.n file and ma.y be I Virginia (1950). as amended. r£:l¡lewed b~ the pl!bhe In the ¡the Cih of Roanoke Office of the City Clerk. proposes to make an Roo,!! ~56. No.el.C. Ta~lor a ppll ca tio n to the . MUOlctpal BUIlding. 215 'I Department of Housing and ;Church A.l¡~n.ue, S. W,,! Communitv Development for Roanoke: Vlrglnla.24Ú11. the m<llte'; set forth below. A.II. parties ~nd Interested 1. To amend the bound<lries Citizens ~a~ appem on the of Enterprise Zone One A. ¡<lbOVe da.e and he heard on I Enterprl!ÕÒt! Zone One A is these matter~. .If you <Ire a . located within the area of ,P e rso n w ~ 0 n e ed.s the City that is e<lst of Peters lacco.mmOdatlo"!:o for thiS Creek Road. north of I h~<lrlng. ple<l,se cont.act Ihe- Brandon Avenue. West of ellY .Clerk s Oftlce at Tinker Creek and South of (5401853·2541 before· Rt. 460. A portion follows i 12:00 noon on Ihe ThursdaY.' ,both sides of Wiltlamson Ibefore.the dal.e 01 the . RO<ld from Hllrshberger ,hC',:mnghstlld <lbove. . ! RO<ld to Orange Avenue.! GIVEN under my h<lnd thiS where it thanges to only the ~ .1' 31st day of Augu~t: ~006. west side {If Wllliamson¡ ~<lry F. Pa,rker. CIty Clt!rk Road to Rutherford Avenue. I (¿~~~1_9, ____.. _ Such amendment proposes, ··to remove approxlmah:ly, I 99.820~ acres of property I locdted In Zone OneAthatls zon~d soICl{(esidential. The amendment also proposes .to add approllmately .60.8353 acres of propert~ I located in the gener¡11 area I set out above that Is zoned commercial. Industrial, or I ml~ed use, wilh such I' property being conlll!uous 10 II ~~opcrty localed in Zone One 2. To amend the boundaries of Enterprise Zone Two. I Enterprise Zone Two is '.Iocated within Ihe ared of 'I' the City <llongthe wC'stslde 1 of Plant(ltion Road from Hollins to Liberty RO<ld then .:llong both 'sides 01 ! PI,mtatlOn RO(ld from Liberty I Road to Connectrcut Avenue Fromlhere west along Shull I - - - - - - - - - - - - Road cro!lsmgTlnkerCreek - - --8 and continuing west untlllhe ..... CITV bounct<lry line. bordering -<..: I Orange Avenue EnterprIse 1 i=' Zone Two Subzone Is r11 , bounded by Frontagt' Road, ::::J t HIghland Park Road, .-... B' ' 1 ' Ferncllff Avenue, Hoback ~~ t-' -- lng Drrve<lndOrdwayDme ,reS't,Þ;ta....lve I Such amandment proposes! (..1-' . to remove <lpprOXlmateIY' rri 225.4064 acres of properly -0 , located in Zone Two th<lt Is 1--'" , zoned solely residential. The. ..¡."::.. I amendment also proposes I ....' : to add approximately ::ïlt i 44.7133 acres of propertv, ~._~. loc<ltedin the ¡¡¡entlrarareil 1}1 set out <lbo~e that is zoned i '...:..) commerCi<lI' Industrial. or ,.J, milled use, with such. property beingcontiguoustoi property loc<lted in Zone' I!".V_~·_· __; T~e Roanoke Times Roallo~:c, Virgirl..ia Af~idavit of Pllblicatior: The Roanoke Times OFFICE OP ECONOMIC 111 :~A~KLIN PLAZA ROANOKE VA 24011 DEVELOPMENT S'lF: 200 REFERENCE 80084300 9839319 NOTICEOFPUBLICHEARIN S:ate of Virginia Cill of Roanoke I (the undersigned) an allthorized representative of the Times-World Corporation, which corporation is publisher of the Roanoke Times, a daily newspaper published in Roanoke, in the State of Virginia, do certify that the annexed notice was published in said newspapers on the following dates: City/Co~nty of Roanoke, Commonwealth/State of Vi~' ia. Sí,'¡orn and subscribed before me this --1-- ___day of September 2006. ~"¡itness my hand an~ial seal. ---- 'f~ -L1__'1/J1(~Notary Public ~1:i c mmistä~ --:~rI1.5-~3~1200~--. PUBLBHED 09/04 09/11 ON, TOTAr., ,"ILED COST: ON, 977.04 09/13/06 , + .- pr:( f\OTICE Of PUBLIC IIL\RI"IG I\oti.:e is Ilereby giwn that the Clluneil ot"the City of Roanoke willll(lld a publi.: hearing (In the matters set I(lnh below at its regular m.:ding to be held on \1onday, Septemher IX. 200(l, L'ommeneing at 7:0lJ p.m.. loeal time. nr as soon thereafter as the malters may be heard, in the Couneil Chmnbers 4'" f1oLlr. "oel C Taylnr Munieipal Building, 215 Church AVel1Lh'\ S. W.. Roanoke. Virginia. further inl(lfInatinn is ~lvailable in thL' Ollice oC the City Clerk, (540)X5J- 2541. Llr Crom ('hristopher Copenhaver. Economic Development Speeialist. (540)X53-n 15. Pursuant to the provisions of the Virginia 1·:ntL'rprise Zone Grant Progr~nn, Sections 5LJ.I- 53~ cl seLl,. COLk of Virginia (I ')50), as amended, the: City of Roarwke propOSL'S to make an applieation to the Dqxlrtment ot" Housing and Communily De\'e1opment I(lr the mallc:Ts sel I()[(h bell.l\\·. L To amend the bLlundaries oC Enterprise Zone One A. EnterprisL' Zone One A is 10eatL'd \\'ithin the are~l oC the City that is cast of Peters CrL'L'k Road. north ot" Brandon ;\venue. West of Tinker Creek ~lI1d Soulh oC Rl. 4(llJ. A portion 1(>lIows ¡"'lh sidL" oC Williamsoo Road fwm HershhergL'r Road III OrangL' AvenuL'. \\'hL'rL' it ehangL's to only the \\'est side oCWilliamson Road to RuthertÖrd .\venue, Sueh 'Imendrnent proposes to remove approximately ')'I.X2lJ4 aerL'S of propeny lo.:alL'd in Zone One A Ihat j, zoned solely residential. The an1L'ndment alsll proxlses TO add appnlximately bO.:;;353 acres of property located in ThL' gL'nL'r,1i arL'a sel (lUt al"l\'e Ihal is zoned commercial. industrial. or mixed use, \\ ith such pnlpcrty being eontiguolb to property locaTed in 1.onL' One A. 1 T(l amend the boundariL's of Enterprise ZonL' Two. EntL'rprisL' 1.one 1'\\'0 is lo.:aled \\ ithin thc arc~1 oC the City ,Ii(lng the \\est side oC I'I~lIlt;llion R"~ld Ihlm Hollins to Liberty Road thL'n aILlng bolh sidL" oC Plantation RLlad tì'om Liberty Road 1" t 'onnL'eliL"l1l A\enuc. Fmm Ihere, \\'est along Shull RoaLI. crossing TinkL'r CreL'k and cllntinuing westuntilthL' City boundary linL', b,,,'dering Orange AvelllIL'. FnterprisL' Zone Two SUhZl"lL' is hOlllHled hy frontage Road, Highland P~lrk R"~ld. Femc/itl :\\'L'nue. Hobaek Dri\'L' and Ordway Dri\·e. Sueh amendmL'nt proposes to rL'move approximately 225.4064 anL'S of property located in ¿PIli..' T\\'o that is zOIl~d stlkly n.:sidl~nlial. ThL' ~IIllL'lldm~nt ~liso P!\)1t)SL'S to add :Ipproximaldy 44.713" acres of property "'ea led in Ihe general arca set out abL1\'e Ih~ll is Loned commercial. industrial. or mixed use, with sueh pwperlv bL'ing l'onliglltllls to proll.'rly loc~tl'd in 71.)fll~ T\\'o. A copy of the maps, a list of Tax Map numbers oC the properties involved in the amendmL'l1ls rd'erred TO in items I and 2 above. and Ihe loeal incentives currentl~' otkred in Zone One ¡\ and Zone Two arc available t(1r public inspection in the City's Econo1J]ie DevL'Iopment Di\'ision', Ol1ice lc>ealL'd at III Franklin Plaza, Suite 211lJ. Roanoke, Virginia 2411 II, phllne number :'411-X53-2715. PkasL' cllntaL"l Chri, Copenhah'r at the ~1l10\ e nunlbLT i C you \\'ant to sce if ~l speci lic piecc' oC pl'llpeny is in\'L11\'L'd in this ma11er. , C J le.ltl.I:>'!I' I' "'~I ",1) )(' ,\1..... 1 'T..:rnp 1:"l..:~FI'II"¡~ 7-r.':"':;''::~'',(!",,: 3. To amcnd the Enlerprise ZonL' Onc A local inl'L'ntin' rcgarding tit,ade grants to amcnd thc detinition of t¡lcadc as uscd therein. -I. To amend thc Entcrprisc lonc Onc A local incentive rcgarding Iirc supprcssion syskm grants lor lire service charges and for tire hookup feL'S. to include placing a eap on such grants. ~. To amend thc Enterprise l<)lL' Two and its Subzone loeal incentivö to clarify the delinition of business linn and to add a local in.:enti\'e to provide IÒr grants tllr certain parking illt improvemCllts. including landseaping. A copy of maps and other dLlcumellts desnibing tilL' pn.lposL'd area of the Fnt<:rprise Zone One A ,unendment and thL' Enterprise Lone Two ameudmenl. and the other matters refelTed to abm'e. are on Iii<: and may be re\'iewed by the public in the Ollice elf the City Ck'rk. Room -I~(,. Noel C. Taylor tvIunicipal13uilding. 21~ Church Avenue. S. W.. Roanoke. Virginia 2-1011. ;\1\ partie'S and interested citizens Illay appear on the above date and be heard on these mattL'rs. I I' YllU are a person who needs accommodations t<'1I" this hearing. please coutad the City Clerk's Of/ice at (~-I()X~3-2~-I1 bel"re 12:(( noon on thc Thursday bâorL' the' datc of the hL'aring liskd above. GI\Tì\ unekr my hand this _, I st day of .-\ugust. 2(((i. :Vlary r. Parker. City Clerk '1<.11e to Publisher: PleOlse publish t\\'icc in The ROOlnoke Time,. oneL' on \londay. September -I. 2(06. and oncc e'n \Illnday. September II. 2(((i. Seud Publisher's ..\Ilidavit City Clerk -1:'6 ~Iunicipal Huilding 215 Church A\enue. S.W. Rllalh'lke. Virginia 2-10 II Send 13illlll: Chris ('llpL'nhOlver. Eeonomie De\'e1opment Specialist Economie I.kwlnpment )i\'ision tClr the City of R(1:lI1llkc III Franklin Plaza. Suite 200 RllanLlke. VA 2-1011 (". [lnC "(..\11: ·1 ¡":gl \11 1(· -\1>·1 .ll'lll!, n\'ll·sl·"-I·"'i~ ". 7-1~-1:-;.~t, l:ll,' , .:.-:. ~II'·:·~::(~ ~"'~ -' ... ~<®U . CITY OF ROANOKE OFFICE OF THE CITY CLERK 215 Church A\'enue. S. W., Room 456 Roanoke. Virginia 24011-1536 TeleJhon('; 1540) 8~3-2541 Fax: (5401853-1145 [-mail: dl'rk@roano~·'·a.go\' SHEILA r>;.llARH1A:"< Assistanl Cit,· Clerk STEPllANIE M. MOO:>;. 01(" Acting City Clerk September 20, 2006 File #42-373 Darlene L. Burcham City Manager Roanoke, Virginia Dear Ms. Burcham: I am attaching copy of Resolution No. 37546-091806 authorizing the lease of 284 square feet of space within City-owned property located in the City Market Building, for a term of one year. The abovereferenced measure was adopted by the Council of the City of Roanoke at a regular meeting which was held on Monday, September 18, 2006. Sincerely, (J A . m.m~ Stephanie M. Moon, CM~ C , Acting City Clerk SMM:ew Attachment pc: Francine Barish-Stern Bray, President, Creations, 32 Market Square, S. W., Roanoke, Virginia 24011 Jesse A. Hall, Director of Finance Rolanda B. Russell, Assistant City Manager for Community Development Sherman M. Stovall, Director, Office of Management and Budget R. Brian Townsend, Director, Planning Building and Economic Development Lisa Poindexter-Plaia, Economic Development Specialist L:\CLERKlDATA\CKEW1\AGENDA CORRESPONDENCEiagenda correspondence 06\Sepl 06\Sep118 06 cor.doc CITY OF ROANOKE OFFICE OF THE CITY MANAGER \Joel C. Tayll)" Municipall3uilding 215 Chur"h Avenue, S.W., Room 364 Roanoke, Virgihia 2-l1.111-1591 ltdt.'plhll1l': (5·11)) S:;.~·2."'\3.1 F.p,: (:)·11))"53 113t: c;h 1\'.1> ~'Pté'fflb'h' '118:' 2006 Honorable C. Nelson Harris, Mayor Honorable David B. Trinkle, Vice Mayor Honorable Alfred T. Dowe, Jr., Council Member Honorable Beverly T. Fitzpatrick, Jr., Council Member Honorable Sherman P. Lea, Council Member Honorable Gwendolyn W. Mason, Council Member Honorable Brian J. Wishneff, Council Member Dear Mayor Harris and Members of Council: Subject: Market Building Lease Background: The City of Roanoke owns the City Market Building located at 32 Market Square, Roanoke, Virginia 24011. Francine Barish-Stern Bray, the owner and operator of Creations, has requested a lease agreement for approximately 284 square feet to sell unique gift items, home décor and souvenirs, such as art work, photography, greeting cards, magnets, inspiration cards, trophies, plaques and items all created as "Art on Gold." The proposed lease agreement is for a one (1) year period, beginning September 2 S, 2006, through September 30,2007. The proposed agreement establishes a base rent rate of 524.00 per square foot and a common area maintenance fee of 52S0.00 per month. There is no renewal provision in this lease. Recommended Action: Authorize the City Manager to execute a lease agreement with Francine Barish-Stern Bray d/b/a Creations, for approximately 284 square feet in the City Market Building located at 32 Market Square, Roanoke, Virginia 24011, for a period of one (1) year, beginning September 2S. 2006, and expiring September 30,2007. All documents shall be upon form approved by the City Attorney. Respectfully submitted, Darlene L. Burcham City Manager DLB:lpp Honorable Mayor and Members of Council September 18, 2006 Page 2 c: Stephanie M. Moon, Acting City Clerk William M. Hackworth, City Attorney Jesse A. Hall, Director of Finance Brian Townsend, Director of Planning Building and Economic Development Lisa Poindexter-Plaia, Economic Development Specialist CM06-00160 LEASE Betwee n THE CITY OF ROANOKE and Barish Stern Ltd., a Virginia Corporation d/b/a Creations .... ~.~L·I .' .~.,,' ,." . '.." ';., v' '''''," '. ..' . II ;,,",. ". I L;,__ ".'." LEASE INDEX HEADING PAGE PREMISES TERM BASE RENT; ESCALATIONS COMMON AREA MAINTENANCE 2 LANDLORD OBLIGATIONS 2 USE OF PREMISES ~, 3 TENANT'S OBLIGATIONS EXCLUSIVITY 4 ASSIGNMENT AND SUBLETTING 4 IMPROVEMENTS 4 SURRENDER OF PREMISES 4 INSPECTION 4 INSOLVENCY OR BANKRUPTCY OF TENANT 4 TRANSFER OF LANDLORD'S INTEREST S ESTOPPEL CERTIFICATE S DAMAGE TO THE PREMISES S DEFAULT OF TENANT 6 CONDEMNATION 6 6 COVENANTS OF LANDLORD NO PARTNERSHIP 7 BROKERS COMMISSION 7 NOTICES 7 HOLDING OVER 7 BENEFIT AND BURDEN 7 GENDER AND NUMBER 7 ENTIRE AGREEMENT 7 (" \D.~n,"'f· ! ·,"'M~IIA; mll),,1 (>( 'I !.·.1\1 'M~.,..vr l~111 ~!J~\L.~l.Ar I(¡N~ Ll....~i. Ov,- 1 INVALIDITY OF PARTICULAR PROVISIONS HAZARDOUS SUBSTANCES INSURANCE SECURITY DEPOSIT INDEMNIFICATION COMPLIANCE WITH LAWS AND REGULATIONS FORUM SELECTION AND CHOICE OF LAW FORCE MAJEURE EQUAL EMPLOYMENT OPPORTUNITY DRUG-FREE WORKPLACE RULES AND REGULATIONS SIGNAGE GUARANTY LIABILITY OF LANDLORD TENANT IMPROVEMENTS BUSINESS HOUR MODIFICATION Exhibit A Exhibit B Exhibit C Exhibit D Exhibit E Exhibit F 7 7 8 9 9 10 10 10 10 10 11 II 11 11 11 11 Floor Plan Common Area Floor Plan Menu Rules and Regulations Sign Regulations Guaranty C ,,,r,r JM~-·I'." "'~M I I.:,l~ ,_VL"_~··l \; L"'''',I'I~ 1 ¡S.¡''¡':~\;:-KfAT ,n", I tA~t I,v,- ,I LEASE THIS LEASE is made this ____day of ____________________2006 by and between the CITY OF ROANOKE (hereinafter referred to as ALandlord0), and 6arish Ster~ Ltd.. a Virainia CoroQratian. d/b/aj:J:gations, (hereinafter referred to as ;,Tenant@), WITNESSETH: In consideration of the mutual agreements hereinafter set forth. the parties hereto mutually agree as tallows: I. PREMISES Landlord hereby leases to Tenant and fenant hereby leases from Landlord, for the term and upon the conditions hereinafter provided, a section of the building known as the Roanoke City Market Building (herein referred to as the ABuilding@) located at32 Market Square, Stall #1Q.2, Roanoke, Virginia 24011, as is delineated on Exhibit Þ.A@ hereto, which is hereafter referred to as the APremises.'" The Premises consists of approximately 284 square feet of space. 2. IŒM The term of this Lease shall commence on Seotelllber 25, 200º- (.~Commencement Date@)and shall expire at II :59 o=clock p.m. on Seotember 30, 200Z. A key will be given to Tenant upon execution of the Lease. 3. BASE RENT: ESCALATIONS The base rent for the first year of,the term shall be based on cost per square foot. Tenant shall pay as base rent for the Premises for each year of the Lease accordinq to the followlllg schedule Penod Per Square : Monthly Rent Amount --I Annual R~nt , Foot ! , Amount_ 9/25/06 to i $113.60 prorated (due If~ble to I 9 30 06 ; occu b this cja_~e) _ __ i 10/1/06 to $24.00 S568.00 $6,816.00 9 30 07 ___ _ ___ _ __ I If the Commencement Date is other than the first day of the month, the first year of the Lease term shall be deemed to be extended to include such partial month and the following twelve (12) months, so as to end on the last day otthe month. In the event the Commencement Date is other than the first day of a calendar month, the Base Rent ("Rent") (as well as the Common Area Maintenance Fee provided hereunder) for the portion of the then current calendar month shall be prorated on the basis of a thirty (301 day month and shall be paid immediately upon the commencement of the Term. On the first anniversary of the Lease, and upon each successive anniversary thereafter, the monthly rent for the next twelve (J 2) months shall be increased by three percent (3%) of the previous year-s monthly rental. Rent shall be paid monthiy. The first monthly payment shall be made at the time of execution of this Lease by the parties; the second and all subsequent monthly payments shall be made on the first day of each and every calendar month during the term. Any monthly payment of rent which is not received by Landlord by the end of the fifth (5th) day of the month shall be assessed a late charge in the amount of five percent (5%) of such total monthly rent payment. All delinquent rent, and other charges due under this Lease shall accrue interest at a rate equal to the current prime rate, as established by the United States Government, plus two percent (2%) per month or the maximum amount permitted by law, from the due date of such payment and shall constitute additional rent payable by Tenant under this Lease and shall be paid by Tenant to Landlord upon demand. Payment shall not be deemed as received if Tenant's payment is not actually collected (such as C.\:"úCJ""t-·",( ,"".M! 1:\): .' 'J< ... ',.. I \ i I M~\N..·T~~F;r,,~~\;:~.EAT·O."~ Lfl\,~ L"'( 1 payment by insufficient funds check). Tenant shall pay rent to Landlord at City of Roanoke, III Franklin Road, Suite 200, Roanoke, Virginia 24011, Attention: Director of Economic Development, or to such other party or at such other address as Landlord may designate from time to time by written notice to Tenant, without demand. Checks shall be made payable to Treasurer, City of Roanoke. 4. COMMON AREA MAINTENANCJ; Tenant agrees to pay Landlord, as additional rental, Tenant's proportionate share of the costs ("Common Area Maintenance Fee") of maintaining, operating, repairing, replacing and insuring the "Common Areas" defined herein. The Common Area Maintenance Fee for this lease will be a flat fee charge of Two hundred fifw Dollars ($250.00) per month. These fees will increase by three (3%) percent upon each anniversary of this Lease. The term "Common Area Maintenance Fee" includes all costs and expenses of every kind and nature paid or incurred by Landlord in operating, managing, equipping, policing, lighting, repairing, replacing items in the Building and maintaining the Building. Such costs and expenses will include, but not be limited to, the following: (a) utilities (electric, gas, waste removal, water and sewer charges. storm water charges; individual telephone service is specifically excluded), (b) insurance premiums tor public liability and property damage for the Building(excluding Tenant's Premises) (c) maintenance costs of heating, ventilating and air conditioning, (d) insect and rodent treatment, (e) snow and ice removal, (f) electrical and plumbing repairs in the Common Areas of the Building, (g) management costs and repairs to the structure of Building which includes roof and wall repairs, foundations, sprinkler systems, utility lines, sidewalks and curbs, (h) security camera systems, (I) lighting, U) sanitary control, drainage, collection of rubbish and other refuse, (k) costs to remedy and/or compiy with governmental and/or environmental and hazardous waste matters(excluding Tenant's Premises) (I) repair and installation of equipment for energy saving or safety purposes. (m) reserves for future maintenance and repair work (which Tenant hereby authorize Landlord to use as necessary), (n) depreciation on equipment and machinery used in maintenance, costs of personnel required to provide such services, (0) all costs and expenses associated with Landlord's obligation to repair and maintain and such other items of cost and expense which are relatable to proper maintenance of the Building and its Common Areas. The "Common Areas" are defined as all areas and spaces in the Building and equipment in the Building, as further shown on the attached Exhibit B provided by Landlord for common or joint use and benefit of the tenants of the Building, their employees, agents, servants, customers and invitees. The Common Areas further include, without limitation, roofs, walls, vacant areas, food court, elevator(s), restrooms, stairways, walkways, ramps, foundations, signs (excluding Tenant's signage), security cameras, lighting fixtures and equipment, and the facilities appurtenant to each of the aforesaid, and any other facilities maintained for the benefit of the Building. Landlord shall have the right to modify the Common Areas from time to time as deemed reasonable by Landlord. 5. LANDLORD'S OBLlGATIOr-¡S responsible for the following: Landlord hereby agrees to provide and be L: ',DOLI""," \('"""~"'I !I(': ." '.J.:.... :,.. I' 'lM~ ,r:"'ll~: i t,,"'~'.CR(,\T" ),..~ I F:'~F r,(l( ¿ (al make all structural and capital repairs and replacements to items in the Building and to the Common Areas, as defined above, and to maintain the Building and its Common Areas. Structural and capital repairs and replacements are defined as repairs or replacements which inciude but are not limited to repairs or replacements to the rocif, elevators, electrical wiring, heating and air conditioning systems, toilets, water pipes, gas, plumbing, other electrical fixtures and the exterior and interior walls. Structural and capital repairs to Tenant's Premises are specifically excluded. (b) pay for the cost of Tenant's utilities (gas, electric, heating, water, telephone service specificaily excluded) and all other services identified through use of funds from the Common Area Maintenance Fee described above. (c) provide a key to Tenant upon execution of the Lease Agreement, 6. TENANT'S OBLIGATIONS. Tenant, at its sole cost and expense, agrees to provide and be responsible for the following, in addition to its other responsibilities pursuant to this Lease. (a) Tenant shall keep and maintain the Premise in good repair, condition and appearance during the term of this Lease, ordinary wear and tear excepted, and not use any part of the Premises orthe Common Areas of the Building in a negligent manner. (bl Tenant shall take good care of the Premises, its fixtures, and appurtenances and suffer no waste or injury thereto, and shall pay for all repairs and replacements to the Premises, necessitated by Tenant's actions, whether capitai, structural as defined above, or otherwise. (cl Tenant shall surrender the Premises at the end of the term in as good condition as Tenant obtained the same at the commencement of the term, reasonable wear and tear excepted. (d) Tenant shall operate its business as described in Section 7 of this Lease. (e) Tenant shall pay rent timely as provided in Section 3 of this Lease. (I) Tenant shall obtain the insurance as required in Section 29 of this Lease. 7. !is.~ Qf PB.EMISES The Premises shall be used for the purpose of conducting therein the sale of uniaue aift items. han¡gJ!~çgr ªj1d souvenif~. soch as art work. o~.Q!ggrªp.hv. areetina cards. maanets.JDwirillign cards...tnmhies. olaaues,ªnd i!em~_all created as Art on Gold. Tenant covenants and agrees that at all times during the term hereof, Tenant wili actively conduct such a business in the Premises, keep the Premises amply stocked with good and fresh merchandise and keep the Premises open for business during the customary business hours of 10:00 a.m. to 6:00 p.m. (not less than eight (8) hours per day, Monday through Saturday) of the Building as established or as may be amended by Landlord and (ii) the Premises shall be used only for such purpose. The Building will be ciosed for the following Holidays or as observed: New Year's Day, Memorial Day, Labor Day, Thanksgiving Day and Christmas Day. Nothing herein shall require the City of Roanoke to open the Building outside olthe above designated hours. The Premises shall not be used for any other purpose without the written permission of Landlord. Tenant shall not open the Building to the public outside of the customary business hours or on the Holidays stated above. 8. EXCLI"ISlVlTY Intentionallvomitted. c ,r;;"¡cl,....t· ¡·,:.".~M: oJ~IJ'L:..(ALS_I··TH,W\..(l1 t~111 ~'.J!'L"l..ArH.;t'h U,\~¡ c.;( 3 9. ASSIGNMENT AND SUBLETTING Tenant shall not voluntarily or involunta;ily assign this Lease in whole or in part, nor sublet all or any part of the Premises without following the procedures detailed herein and obtaining the prior written consent of Landlord, in Landlord's sole discretion. The consent by Landlord to any assignment or subletting shall not constitute a waiver of the necessity for such consent in any subsequent assignment or subletting. In the event that Tenant receives a bona fide written offer from a third party for the sublease or assignment of the Premises, Tenant shall forthwith notify Landlord in writing, attaching a copy of such offer, of Tenant's desire to sublet or assign this Lease upon the terms of such offer, whereupon Landlord shall have thirty (30) days to accept or reject such assignment or sublease. 10. IMPROYEMENTS Landlord must approve all alterations, redecorations, or improvements in and to the Premises in writing beforehand. Such alterations, redecorations, additions, or improvements shall conform to all applicable Building Codes of the City of Roanoke, federal and state laws, rules and regulations. 11. SURRENDER OF PREMISES At the expiration of the tenancy hereby created, Tenant shall peaceably surrender the Premises, including all alterations, additions, improvements, decorations and repairs made thereto (but excluding all trade fixtures, equipment, signs and other personal property installed by Tenant, provided that in no event shall Tenant remove any of the following materials or equipment without Landlord's prior written consent: any free standing signs, any power wiring or power panels; lighting or lighting fixtures: wall coverings; drapes, blinds or other window coverings; carpets or other floor coverings; or other similar building operating equipment and decorations), broom cleaned and in good condition and repair, reasonable wear and tear excepted. Tenant shall remove all its property not required to be surrendered to Landlord before surrendering the Premises and shall repair any damage to the Premises caused thereby. Any personal property remaining in the Premises at the expiration of the Lease shall be deemed abandoned by Tenant, and Landlord may claim the same and shall in no circumstance have any liability to Tenant therefore. If physical alterations were done by Tenant, Landlord, at its option, may require Tenant to return Premises to its original condition (condition at occupancy) when Tenant vacates Premises. Upon termination, Tenant shall also surrender all keys for the Premises to Landlord and, if applicable, inform Landlord of any combinations of locks or safes in the Premises. If the Premises are not surrendered at the end of the term as herein above set out, Tenant shall indemnify Landlord against loss or liability resulting from delay by Tenant in so surrendering the Premises, including without limitation, claims made by the succeeding Tenant founded on such delay. Tenant's obligation to observe or perform this covenant shall survive the expiration or other termination of the term of this Lease. 12. INSPECTION Tenantwill permit Landlord, or its representative, to enter the Premises: upon reasonable notice to Tenant, without charge thereof to Landlord and without diminution of the rent payable by Tenant, to examine, inspect and protect the same, and to make such alterations and/or repairs as in the judgment of Landlord may be deemed necessary, or to exhibit the same to prospective Tenants during the last one hundred twenty (120) days of the term of this Lease. 13. LNS.QLVEN.CY.OR.!lAN!SlUJP.ICY.OF.IWAt'iT In the event Tenant makes an assignment for the benefit of creditors, or a receiver of Tenant's assets is appointed, or Tenant files a voluntary petition in any bankruptcy or insolvency proceeding, or an involuntary petition in any bankruptcy or insolvency proceeding is filed against Tenant and the same is not discharged within sixty (60) days, or Tenant is adjudicated as bankrupt, Landlord shall have the option of terminating C.".:-,)("IME· . "".\l;Mi ;a")\I,)(".>.1 \·.I\T,"'P-·...'lThFFH.'1;'.Cp.,...T'rJM I FASf ('l'J( 4 this Lease. Upon such written notice being given by Landlord to Tenant, the term of this Lease shall, at the option of Landlord. end and Landlord shall be entitled to immediate possession of the Premises and to recover damages from Tenant in accordance with the provisions of Article 17 hereof. 14. TRANSFER OF LANDLORD=S INTEREST Landlord shall have the right to convey, transfer o;'~ssign, by sale or otherwise, all or any part of its ownership interest in the property, including the Premises, at any time and from time to time and to any person, subject to the terms and conditions of this Lease. All covenants and obligations of Landlord under this Lease shall cease upon the execution of such conveyance, transfer or assignment, but such covenants and obligations shail run with the land and shall be binding upon the subsequent owner(s) thereof or of this Lease during the periods of their ownership thereot. 15. ESTOPl'~L CERTIFICATE Tenant agrees, at any time, and from time to time, upon not less than ten (10) days' prior notice by Landlord, to execute, acknowledge and deliver to Landlord, a statement in writing addressed to Landlord or other party designated by Landlord certifying that this Lease is in full force and effect (or, if there have been modifications, that the same is in full force and effect as modified and stating the modifications), stating the actual commencement and expiration dates of the Lease. stating the dates to which rent, and other charges, if any, have been paid, that the Premises have been completed on or before the date of such certificate and that all conditions precedent to the Lease taking effect have been carried out, that Tenant has accepted possession, that the Lease term has commenced, Tenant is occupying the Premises and is open tor business, and stating whether or not there exists any default by either party contained in this Lease, and if so specifying each such default of which the signer may have knowledge and the claims or offsets, if any, claimed by Tenant: it being intended that any such statement delivered pursuant hereto may be reiied upon by Landlord or a purchaser of Landlord's interest and by any mortgagee or prospective mortgage of any mortgage aftecting the Premises. If Tenant does not deliver such statement to Landlord within such ten (10) day period, Landlord may conclusively presume and rely upon the following facts: (i) that the terms and provisions of this Lease have not been changed except as otherwise represented by Landlord; (ii) that this Lease has not been canceled orterminated except as otherwise represented by Landlord; (iii) that not more than one (1) month's minimum rent or other charges have been paid in advance; and (iv) that Landlord is not in default under the Lease; and (v) no disputes exist. In such event Tenant shall be estopped from denying the truth of such facts. Tenant shall also, on ten (10) days' written notice. provide an agreement in favor of and in the form customarily used by such encumbrance holder, by the terms of which Tenant will agree to give prompt wrillen notice to any such encumbrance holder in the event of any casuaity damage to the Premises or in the event of any default on the part of Landlord under this Lease, and will agree to allow such encumbrance holder a reasonable length of time after notice to cure or cause the curing of such default before exercising Tenant's right of self-help under this Lease, if any, or terminating or declaring a default under this Lease. 16. PArvlAGE TO THE PREMiSES If the Building or the Premises shall be partially damaged by fire or other cause without the fault or neglect of Tenant, its agents, employees or invitees, Landlord shall diligently and as soon as practicable after such damage occurs repair such damage at the expense of Landlord, provided. however, that if the Building is damaged by fire or other cause to such extent that the damage cannot be fully repaired within ninety (90) days from the date of such damage, Landlord or Tenant, upon written notice to the other. may terminate this Lease, in which event the rent shall be apportioned and paid to the date of such damage. During the period that Tenant is deprived of the use ot the damaged portion of Premises, Tenant shall be required to pay rental covering only that part of the Premises that Tenant is able to occupy, and Rent tor such occupied space c ·.:;~,C"J"'L·· I·,(M~M! ~"I!\Lû(""L s· 1\r;"'I'\.",'n~111 t!J~\(~l.AT I{.IN:; LE,\~< (I.x" ~; shall be the total rent divided by the square foot area of the Premises and multiplied by the square foot area that the Tenant is abie to occupy. 1 7. DEFAULT OF TENANT IfTenant shall fail to pay any monthly installment of Rent and/õras required by this Lease. or shall violate or fail to perform any of the other conditions, covenants or agreement on its part contained in this Lease and such failure to pay Rent or such violation or failure shall continue for a period often (10) days after the due date of such payment or after written notice of any such violation or failure to perform by Tenant, then and in any of such events this Lease shall, at the option of Landlord, cease and terminate upon at least ten (l0) days' prior written notice of such election to Tenant by Landlord, and if such failure to pay rent or such violation or failure shall continue to the date set forth in such notice of termination, then this Lease shall cease and terminate without further notice to quit or of Landlord's intention to re-enter, the same being hereby waived, and Landlord may proceed to recover possession under and by virtue of the provisions of the laws of Virginia, or by such other proceedings, including re-entry and possession, as may be applicable. If Landlord elects to terminate this Lease, everything herein contained on the part of Landiord to be done and performed shall cease without prejudice, however, to the right of Landlord to recover from the Tenant all rental accrued up to the time of termination or recovery of possession by Landlord, whichever is later. Should this Lease be terminated before the expiration of the term of this Lease by reason of Ten ant's default as hereinabove provided, or ¡fTenant shall abandon or vacate the Premises before the expiration ortermination ofthe term of this Lease, Landlord shall use its best efforts to relet the Premises on the best rentai terms reasonably available under the circumstances and if the full rental hereinabove provided shall not be realized by Landlord, Tenant shall be liable for any deficiency in rent. Any damage or 1055 of rental sustained by Landlord may be recovered by Landlord, at Landlord's option. at the time of the reletting, or in separate actions from time to time, as such damage shall have been made more easily ascertainable by successive relettings, or at Landiord's option, may be deferred until the expiration of the term of this Lease in which event the cause of action shall not be deemed to have accrued until the date of expiration of such term. The provisions contained in this paragraph shall not prohibit any claim Landlord may have against Tenant for anticipatory breach of the unexpired term of this Lease. 18. CONDEMNATION If any part of the Building or a substantial part of the Premises shall be taken or condemned by any governmental authority for any public or quasi-public use or purpose (including sale under threat of such a taking) then the term of this Lease shall cease and terminate as of the date when title vests in such governmentai authority, and the annual rental shall be abated on the date when such title vests in such governmental authority. If less than a substantial part of the common area of the Premises is taken or condemned by any governmental authority for any publiC or quasi-public use or purpose, the rent shall be equitably adjusted on the date when title vests in such governmental authority and the Lease shall otherwise continue in full force and effect. Tenant shall have no claim against Landlord (or otherwise) for any portion of the amount that may be awarded as damages as a result of any governmental taking or condemnation (or sale under threat of such taking or condemnation) or for the value of any unexpired term of the Lease. For purposes of this Article 18, a substantial part of the Premises shall be considered to have been taken if more than fifty percent (50%) of the Premises are unusable by Tenant. 19. ÇOVENANTS OF LANDLORD Landlord covenants that it has the right to make this Lease for the term aforesaid, and that if Tenant shall pay the Rent and perform all of the covenants, terms and conditions of this Lease to be performed by Tenant. Tenant shall, during the term hereby created, freely. peaceably and quietly occupy and enjoy the full posseSSion of the Premises without molestation or , ".:;Ul UMF· ·.("M~M; ,,:"0'.1 UL"'L~· I ,,1 LM~·.t.,,· f\¡¡'h;~.>\ÇkFA11~:t~ l~"'~L ..lU... 6 hindrance by Landlord or any party claiming through or under Landlord. 20. NO PARTNERSHIP Nothing contained in this Lease shall be deemed or construed to create a partnership or joint venture of or between the Landlord and Tenant, or to create any other relationship between the parties hereto other than that of Landlord and Tenant. 21. BROKER'S COMMISSION Tenant represents and warrants that it has incurr~d no claims or finder's fees in connection with the execution of this Lease. 22. NOTICfS All notices or other communicatiuns hereunder shall be in writing and shall be deemed duly given if delivered in person or by certified or registered mail, return receipt requested, first-class postage prepaid, (j) if to Landlord at City of Roanoke, 111 Franklin Road, Suite 200, Roanoke, Virginia 24011, Attention: Director of Economic, and Iii) if to Tenant, at P.O. Box 83L,Troutville. VA 2417S, unless notice of a change of address is given pursuant to the provisions of this Article. 23. HOLDING OVER In the event that Tenant shall not immediately surrender the Premises on the date of expiration of the term hereof, Lease shall automatically renew itself month to month, at twice the Rent rate for the last year of the Lease plus all other charges accruing under this Lease, and subject to all covenants, provisions and conditions herein contained. Landlord and tenant shall both have the right to terminate the holdover tenancy upon thirty (30) days written notice. Tenant shall not interpose any counterclailll{s) in a summary proceeding or other action based on holdover. 24. BENEFrl AND BURDEN The provisions of this Lease shall be binding upon, and shall inure to the benefit of, the parties hereto and each of their respective representatives, successors and assigns. 2S. GENDER AND NUMBER Feminine or neuter pronouns shall be substituted for those of the masculine form, and the plural shall be substituted for the singular number, in any place or places herein in which the context may require such substitution. 26. ENTIRE AGREEMENT This Lease, together with any exhibits attached hereto, contains and embodies the entire agreement of the parties hereto, and representations, inducements or agreements, OIal or otherwise, between the parties not contained in this Lease and exhibits, shall not be of any force or effect. This Lease may not be modified, changed or terminated in whole or in part in any manner other than by an agreement in writing duly signed by both parties hereto. 27. INVALIDITY OF PAR IICUI AR PROVISIONS If any proviSion of this Lease or the application thereof to any person or circumstances shall to any extent be invalid or unenforceable, the remainder of this Lease, or the appiication of such provisions to persons or circumstances other than those as to which it is invalid or unenfurceable, shall not be affected thereby, and each provision of this Lease shall be valid and be enforced to the fullest extent permitted by law. 28. HAZARDOUS SUBSTANCE,S Tenant covenants and warrants that Tenant, and Tenant's use of Premises and any alterations thereto will at all times comply with and conform to all laws, statues. ordinances, rules and regulations of any governmental, quasi-governmental or regulatory authorities ("Laws") which relate to the transportation, storage, placement handling, treatment, discharge, generation, removal production or disposal (collectively "Treatment") of any waste petroleum pruduct, waste products, radioactive waste, Polychlorinated Biphenyls (PCB), asbestos, lead-based paint, or other hazardous materials of any kind, and any ..: \DU'~I.;M[·_l·,cr~~M I (¡.~;1, ';;::'>1 ,. '.1 :M~"'''''JI L,fll ~~¿\\ ~[,·,T1(lt, l fA~f [),)( 7 substance which is regulated by any law, statute, ordinance, rule or regulation (collectively "Waste'). Tenant further covenants and warrants that it will not engage In or permit any person or entity to engage in any Treatment of any Waste on or which affects the Premises. Immediately upon receipt of any Notice (as hereinafter defined) from any person or entity. Tenant shall deliver to Landlord a true, correct and complete copy of any written Notice. "Notice" shall mean any note, notice or report of any suit, proceedings, investigation, order, consent order, injunction, writ, award or action related to or affecting or indicating the Treatment of any Waste in or affecting the Premises. Tenant hereby agrees it will indemnify, defend, save and hold harmless Landlord and Landlord's officers, directors, shareholders, employees, agents, pdrtners, and the respective heirs, successors and assigns (collectively "Indemnified Parties") against and from, and to reimburse the Indemnified Parties with respect to, any and all damages, claims, liabilities, loss, costs and expense (including, without limitation all attorney's fees and expenses, court costs, administrative costs and costs of appeals), incurred by or asserted against the Indemnified Parties by reason of or arising out 01: (a) the breach of any representation or undertaking of Tenant under this section or (b) arising out of the Treatment of any waste by Tenant or any licensee, concessionaire, manager or other party occupying or using the Premises. Landlord is given the right, but not the obligation, to inspect and monitor the Premises and Tenant's use of the Premises, including the right to review paperwork associated with Treatment activities in order to confirm Tenant's compliance with the terms of this Section. Landlord may require that Tenant deliver to Landlord concurrent with Tenant's vacating the Premises upon the expiration of this Lease, or any earlier vacation of the Premises by Tenant, at Tenant's expense, a certified statement by licensed engineers satisfactory to the Landlord, in form and substance satisfactory to, Landlord, stating that Tenant, and any alterations thereto and Tenant's use of the Premises complied and conformed to all Laws relating to the Treatment of any Waste in or affecting the Premises. . Tenant agrees to deiiver upon request from Landlord estoppel certificates to Landlord expressly stipulating whether Tenant is engaged in or has engaged in the Treatment of any Waste in or affecting the Premises, and whether Tenant has caused any spill, contamination, discharge, leakage, release or escape of any Waste in or affecting the Premises, whether sudden or gradual, accidental or anticipated, or any other nature at or affecting the Premises and whether, to the best of the Tenant's knowledge, such an occurrence has otherwise occurred at or affecting the Premises. 29. INSURANCE Prior to the delivery of possession of the Premises to Tenant, Tenant shall provide Landlord evidence satisfactory to Landlord (i) that fire and casualty and workers' compensation policies in amount and in form and content satisfactory to Landlord have been issued by a company or companies satisfactory to Landlord and will be maintained throughout the course of Tenant's work at Tenant's cost and expense and (ii) that Tenant has complied with the comprehensive liability insurance requirements set forth in the following paragraph. Tenant will, at all times commencing on the date of delivery of possession of the Premises to Tenant, at its own cost and expense, carry with a company or companies, satisfactory to Landlord, comprehensive general liability insurance including public liability and property damage, in a form satisfactory to Landlord, on the Premises, with the combined single liability limits of not less than One Million Dollars ($1 ,000,000.00) per occurrence, which insurance shall be written or endorsed so as to protect Landlord, its officers, agents and employees as additional ~ ,l;:';"l..~~~ i ·.~M,M I ');;V'L: .:"AI ~. ,T:"~1I":., o hHII,Yhl,u.:,¡ I<.;N) LlA~L 1."...( 8 insureds. The Tenant agrees that the above stated limits and coverages are minimum limits and coverages, and that Tenant shall provide such additional insurance as set forth above, in such amounts and against such risk as may be required in the Landlord's sole but reasonable judgment, to equal the amounts and types of coverages carried by prudent owners and operators of properties similar to the Building. Tenant shall increase such limits at its discretion or upon reasonable request of Landlord but not more often than once every year and such increases shall not be in excess of generally accepted standards in the industry. Tenant covenants that certificates of all of the insurance policies required under this Lease, and their renewal or replacement, shall be delivered to Landlord promptly without demand upon the commencement of the term of this Lease and upon each renewal of the insurance. Such policy or policies shall also provide that it shall not be cancelled nor shall there by any change in the scope or amount of coverage of the policy without thirty (30) days prior written notice to Landlord. If same is not provided with ten (10) days after demand, Landlord is authorized to secure such policy from such companies as it deems appropriate and collect from Tenant in such a manner as it deems appropriate the cost of the premium. 30. SECURITY QEPOSIT (a) AMQUNT OF DEPOSIT Tenant will deposit d sum equal to the dmount of the rent in the last month of the Lease with the Landlord before the commencement of this Lease. Such deposit shdll be held by Landlord, without liability for interest, as security for the faithful performance by Tenant of all of the terms, covenants and conditions of the Lease by Tenant to be kept and performed'during the term hereof. If dt any time during the term of this Lease any of the rent herein reserved shall be overdue and unpaid, or any other sum payable by Tenant to Landlord hereunder shall be overdue and unpaid, the Landlord may. at the option of Landlord, appropriate and apply any portion of such deposit to the payment of any such overdue rent or other sum. (b) USE AND RETURN .<2!:...Q;POS!T In the event of the failure of Tenant to keep and perform any of the terms, covendnts. and conditions of this Lease to be kept and performed by Tenant, then the Landlord at its option may appropriate and apply the entire such deposit, or so much thereof as may be necessary, to compensate the Ldndlord for loss of damage sustained or suffered by Landlord due to such breach on the part of Tenant. Should the entire deposit, or any portion thereof, be appropriated and applied by Landlord for the payment of overdue rent or other sums due and payable to Landlord by Tenant hereunder, then Tenant shall, upon the written demand of Landlord, forthwith remit to Landlord a sufficient amount in cash to restore such security to the original sum deposited, and Tenant's failure to du so within fjv~ (5) days after receipt of such demand shall constitute a breach of this Lease. Should Tenant comply with all of such terms, covenants and conditions and promptly pay all of the rental herein provided for as it falls due, and all other sums payable by Tenant to Landlord hereunder, such deposit shall be returned in full to Tenant at the end of the Lease Term or upon the earlier termination of this Lease. 31. INDEMNIFICATION Tenant agrees to save and to protect, indemnify and hold Landlord harmless from and against and to reimburse Landlord from any and all liabilities, damages, costs, expenses, including, without limitation, reasonable attorneys' fees, causes of action, suits, claims, demdnds, or judgments of any nature whatsoever arising from injury to or death of persons or damages to property resulting from Tenant's use of the Premises caused by any act or omission, whether intentional or otherwise, of Ten ant or its employees, servants, contractors or agents. L ·,IJ<';~UML· I·,~"'~"'I V"V\. l''-'''L;·I \ 1 LM~ ,rK TL~fl r\¡~.\,·~i..~T .lJt,~ L[II,[ DO,: <; 32 COMPLIANCE WITH LAWS AND REGULATIONS Tenant agrees to and will co~,ply with all-~ppiicablë federal, staie and lo-cal iaws. ordinances and regulations. Tenant acknowledges and agrees that it will dispose of trash and grease in the containers designated by the ,Landlord for such disposal and not dispose of such substances in a manner that would violate applicable federal. state and local iaws, ordinances or reguiations. 33. FORUM SELECTlo.N AND CHO[CE OF LAW By virtue of entering, into this Lease, Tenant submits itself to a court of competent jurisdiction in the City of Roanoke. Virginia, and further agrees that this Lease is controlled by the iaws of the Commonwealth of Virginia and that all claims, disputes, and other matters shall only be decided by such court according to the laws of the Commonwealth of Virginia. 34. FORCE MAIEUIlE In the event that either party hereto shall be delayed or hindered in or prevented from the performance of any act required hereunder by reason of strikes, lockouts, labor troubles. inability to procure materials, failure at power, restrictive governmental laws or regulations, riots, insurrection, war, or other reason of a like nature not the fault of the party delayed in performing the work or doing acts required under the terms of this Lease. then the time allowed for performance for such act shall be extended by a period equivalent to the period of such delay. The provisions of this Section shall not operate to excuse Tenant from the prompt payment of rent, Common Area Maintenance Fee or any other payments required by the terms of this Lease. 35. EQ!.!tI..L.EMPLOYMENT OPPORTUNITY: During the performance of this Agreement, Tenant agrees as follows: (a) Tenant will not discriminate against any employee or applicant tor employment because of race, religion, color, sex, national origin, age. disability. or any other basis prohibited by state law relating to discrimination in employment, except where there is a bona fide occupational qualification reasonably necessary to the normal operation of its business. Tenant agrees to post in conspicuous places, available to employees and applicants for employment, notices setting forth the provisions of this nondiscrimination clause. (b) Tenant, in all solicitations or advertisements for employees placed by or on behait of Tenant, will state that Tenant is an equai opportunity employer. (c) Tenant will include the provisions of the foregoing subsections (a) and (b) in every contract or purchase order of over ten thousand dollars and no cents ($10,000.00) so that the provisions will be binding upon each contractor or vendor. 36. DRUG-FREE WORKPLACE: (a) During the performance of this Agreement, Tenant agrees to (i) provide a drug-free workplace for its employees; (ii) post in conspicuous places, available to employees and applicants for employment, a statement notifying employees that the unlawful manufacture, sale, distribution. dispensation, possession, or use of a controlled substance or marijuana is prohibited in the workplace and specifying the actions that will be taken against employees for violations of such prohibition; (iii) state in all solicitations or advertisements for employees placed by or on behalf of Tenant that Tenant maintains a drug-free workplace; and (iv) include the proviSions of the foregoing clauses in every subcontract or purchase order of over $10,000, so that the C.",DO'"I.\IIf \,"110I,110I ~ I)~ ''',1 ';(AI~· ,".r: ""~V¡l'l L)III ~l.I¿'.L".l.AIIl'N, LLA~L Utl,- lO provisions will be binding upon each subcontractor or vendor. lb) for the purposes of this section, "drug-free workplace" means a site for the performance of work done in connection with a specilic contract awarded to a contract awarded to a contractor, the employees of whom are prohibited from engaging in the unlawful manufacture, sale, distribution, dispensation, possession or use of any controlled substance or marijuana during the performance of the Agreement. 37. RULES AND REGULATIO!'Js Tenant agrees to comply and adhere to Landlord's rules and regulations concerning the Building as stated in the attached Exhibit "D" attached hereto and made part of this l.ease 38. sIGNAÇ~ Tenant agrees to comply and adhere to l.andlord's regulations concerning signage as stated in the attached Exhibit "E" attached hereto and made part of this l.ease. 39. Ç\J.i\RANTY By virtue of entering into this l.ease, Tenant agrees to have executed the Guaranty contained in Exhibit '"F" attached hereto and made part of this l.ease_ Such GuarantorlsJ shail first be approved by l.andlord in writing. Tenant agrees to provide information concerning Guarantor(s) to l.andlord upon request. 40_ LIABiLITY OF l.ANPi,9RI) l.andlord shall not be liable to Tenant, its employees, agents, business invitees, licensees, customers, clients, family members, guests or trespassers from any damage, compensation or claim arising from the necessity of repairing any portion of the Building, the interruption in the use of the Premises, accident or damage resulting from the use or operation (Landlord, Tenant, or any other person or persons whatsoever) 01 elevators, or heating, cooling, electrical or plumbing equipment or apparatus, or the termination of this Lease by reason of the destruction of the Premises, or from any fire, robbery, theft, and/or any other casualty, or from any leakage in any part or portion of the Premises or the Building, or from water, rain or snow that may leak Into, or flow from, any part of the Premises or the Building, or from drains, pipes or plumbing work in the Building, or from any other cause whatsoever. Any goods, property or personal effects, stored or placed by Tenant in or about the Premises or Building, shail be at the risk of Tenant, and Landlord shall not in any manner be heid responsible therefore. The employees of Landlord are prohibited from receiving any packages or other articles delivered to the Building for Tenant, and if any such employee receives any such package or articles, such employee shall be the agent of the Tenant and not of l.andlord. 41_ TENANT IMPROVEMENTS The landlord is willing to offer one (1) month total rent 15818.00) in rent abatement toward l.andlord approved improvements for the space. Landlord will ensure current electrical outlets are in proper working order, an additional outlet is installed, light fixtures are in proper working order, both exterior doors are fuily functional, baseboards will be replaced, floor tiles wiil be buffed and waxed and new ceiling tiles installed in space. 42. !l\J.S!!'JÜ~ HOLJR..MODIFICATION Landlord hereby grants to Tenant an exemption of business hours for a period of two weeks for Tenant to take vacation. Tenant shall notify Landlord several weeks prior to taking this vacation of this intention to close the business, and Tenant shall post a public notice with a professional quality sign notifying customers of this absence and return date. r ,f)(("IIMF_ I '.(110I'."" I ,).;~, I '.'<"':'L)·I \1 LM",N~'I c~fff~:,o"\(~"A r .'.!I\\ LE:'~£ D("I('" 11 Witness Signature Witness Printed Name Witness Signature Witness Printed Name Witness Signature Witness Printed Name Witness Signature Witness Printed Name LANDLORD: CITY OF ROANOKE By: ,.__. Print Name: Darlene ßu[~ham Title:-º1Y ManaQer TENANT: By:_ Print Name: .Francine Barish-S!~r.n Brª¥ Title: President. ºW,!l~[ 55#: EXHIBIT A FLOOR PLAN ..: \DO( ,"'~- 1'.(""";Ml :U(;\:' '('"AI~· 1 ,rEM:>",t.)'fS;;;,;~~\(kf"TIC'NS . i "'SF :¡(¡( ..:.2 EXHIBIT B COMMON AREAS flOOR PLAN :.:·,;lr.'lu....l .' ,-eM,M' ,'I)!)",ll'C"l!..1 \ I i "'~. ",,: I ~1I11)~..'.(~I'" I('r~ ; ASI ;¡(l( Ls Attach here EXHIBIT C MENU Attach here if Food Court Tenant (' \~O("U~':··I \('"M~'" I (lll~.\,(l'!o.. $. I . 'fMI'\.t~>11 ',;' i ,;~Z\~kl "l·t'·.~ LL"'~1 lluo.. :4 Imentionallv Omitted EXHIBIT D RULES AND REGULATIONS 1. All trash must be kept in a covered container, or if requested by Landlord, in a Dumpster or similar container furnished and serviced at Tenant's expense. L 'UULõ.Jt.';.·· \LI"~."'l.~O-';'LULAL~··l ,I LM~\Nù: L~I ¡ ¡ .,~~\(.RLA lIUN~ ÜA~L i.'UL . 0 . J 2. Tenant shall keep lights on in show windows, leased food court space and lights on under marquee, if any. from 10:00 a.m. until 6:00 p.m. 3. Tenant agrees to handle all deliveries and refuse through the Salem Avenue entrance (if one) of the Premises. 4. No sign shall be permanently affixed to the plate glass of any window without prior written consent of Landlord. 5. No solicitation material shall be displayed inside the building or affixed to the exterior of the building. 6. Tenant shall keep Premise's, windows dnd window frames clean (inside and out) at all times and wash them weekly. 7. Tenant shdll keep Premises' floors free of trash, chewing gUIll and other debris, and shall scrub and wax all tile or pldstic flooring at least weekly. 8. Tendnt is responsible for the replacement of light bulbs in its space 9. Tenant is responsible for the replacement of air-filters dnd the monthly mdintenance of their exhaust fans in its Premises by a licensed contractor on a basis predetermined by the Landlord. 10. Tenant shall be responsible for breaking down and having all cardboard boxes ready for pick up. 11. (Applies only to rood Court Vendors) Providing the availability of space for the purpose of storage, Landlord will dllocate equally among all food vendors a set amount of space for the storage of a freezer or a refrigerator, food items and paper products. Items must be stored in accordance with Health and rire codes. No restaurant equipment (unused or in disrepair) is to be stored in the area under dny circumstances. Any prohibited items stored in this area will be removed at Tenant's expense. Tenant's not maintaining their own storage space per Health and Fire code requirements will be assessed a $100.00 fee per occurrence. If a Tenant's space is in violation more than three times in a given year, Ldndlord will rescind Tenant's option to use available space. .: \I)';::LMI· I \(IIoI~'" I l'(.~·.. n'-"'I~' I \H""'" t.~H~'rn,~~'.,-REATI('Ù _E",~E DI)(" 16 EXHIBIT E SIGN REGULA ¡"ION No sign, advertisement or notice shall be inscribed, painted, affixed or displayed on walls, windows, or any part of the outside or the inside of the Building including the directories, in place, number, size, coior and style, unless approved by Landlord. If Tenant nevertheless exhibits such sign, advertisement or notice, Landlord shall have the right to remove the same and Tenant shall be liable for. any and all expenses incurred by l.andlord by such removal. Tenant further agrees to maintain such sign, canopy, decoration, lettering, advertising matter'or other thing as may be approved in good condition and repair at all times. Landiord shall have the right to prohibit any advertisement of Tenant which in its opinion tends to impair the reputation of the Building or its desirability as a high-quality festival marketplace for retail stores or food related businesses, other institutions of like nature, and, upon written notice from Landlord, Tenant shall immediately refrain from and discontinue any such advertisement. EXHIBIT F :".\~>U(.'Ml ·l\ÇM~;t.I' (.I'U'JUrAI ~,.. I ,I i '.W".,-Ù: L~III ,,"~~'.C~L.,·, ·I.;N~ LC'\~; ::(:1" 17 GUARANTY PERSONAL G~ARANTEE Intentionallv Omitteg f. ,:,ÙCJMt·· I '.1. "~Mi :,l"!,ll 'CAI ~_ I ,I LM~'.t>(¡- £~¡:F;,;~~,(~E.A IlI.m~ _:...·~~L :)')': :H ~he Roanoke 'rimes Roanoke, V~rginiù ^f~~davit of ?llblication ~he Roa~oke Tjmes ." t-1ARY F'. PARI~F.P. C:~Y OF ROANO~E CLERK'S üF~lCE 215 CIIURCH AV~ SW RM ~56 NORL C. TAYLOR MUN:CIPAL BT,~G. ROANOKE VA 2{011 '~:;:::.------- -- _..~-~ REFERENCE: 321·13302 9839325 NOTICEOFPUBLICHEARIN '1iìitiiA_i:s·'·· "-.:, '1:'1fi¡ -' '/ ;...,~ .: . .. '"..J!J' " .1 ; NOTICE OF I :/ PUBLIC HEARING I ,] Thl:! City of Roanoke I J proposes to lease tol I Francine Barish-Stern Brclv I d b'a Creations, 284 square feet of C.it~-owned proPNlyl located In the Cit)" Markotl Building .11 32 Market Square, Roanoke, Virginr¡ll 2401~, for a term of one year. Pur sua n t to I h e I roq u ¡rem e n ts Of/ I §§15,2'1800 and 1813, COdCl of Virginia (1950). as a.m(lndíld,not;ceis herebv glve,'.thílt the Cily Council o'f the City of Roanoke will hOld] a public hearing on the¡ ílbovl::,mallerat its regular I me.:'tlng to bl:! held on I ScPtem.ber 18. 2006. commencl.ng .1: 7:00 p,m" in I the Council ChamberSofth"l fotoel C. Taylor Municipal I Building. located at 215/ Church Avenue. S.W., I R?a.noke. 'virginia 24011. I I CitIZens shall hrlVe the QPPQrtunitytobeheard.1ndl e~press their opinions on ¡ thIS matter, I If you lire a person with al disabiJitv who needs c)cc~mm(dàfions for thisl I h~arlrlg. please Cont;lctlhe ' City Clerk's Office at 15401 853-2541, before 12;00 I ¡noon on ThurSday, September 14, 2006. ,GIVEN under my hand thisl 16th day of September. 2006. I MaryF. Parker. Clry Clerk I (9839325) -----.-.-- Sta~e o~ Virginia City of Roanoke I, (the undersigned) an authorized represenLall~e of the Tillles World Corporation, which corporation is p~blisher of the Roanoke 7imes, a daily newspaper p~bJ.ished in Roano~e, in the Sta~c of Virginia, do certify that the annexed notice was p~blished in said newspapers on the following dates: City/Cü~nt~· of Roanoke, Commonwealth/State of Vi~C i ia. S'tJorn and subscribed before me !:h~s _~__ __day of September 2006. Witness my hand a~~o~ç~al seal. v-:-..~ A ' ~ ____ _ ry Public My J0rr.miSo n?!J, es)_~3..j-r20lJ+. purl'.,",S!lE::J ON, 09/08, TOTAL COST, FILnD ON: 1-l3 .52 09/13/06 luthorizeci J. °lrÆr01 s.gnature'_~~~-r__ _ Bi:ling Se~vices Rep~esentative C) ~ ,-~ r-- ~'1 ~? I~-;' en f=R ',':1 >--~ .4 ~ ~",.:.. I}I tr1 ,0 ?G :'IIOTICE OF I'LBLlC I1EARII\G The City of Roanllke pnlposes to lease to Francine Aarish-Stelll Bray d/b/a Creations, 284 square feet of City-owned property located in the Cify l'darkct Building al 32 Market Square, Roanoke, Virginia 24011, Illr a lenn of one year. Pursuant 10 ¡he requirl'lIll'nts of ~~ 15.2-1 son and 1813. Code of Virginia (1950). as alllended, notice is hereby gi\'en that the City Council of thl' City llf ROaJwke will hold a public hearing on the above matter at its regular mccting to be held llll September 18. 2006. commelKing at 7:00 p.m.. in the Council Chambers of tlK' 'Joel C. Taylor \1unieipal Building. located at 215 Church Avenue, S.W.. Roanoke, Virginia 24011. Cilizens shall have the opportunity to be heard and express Iheir opinions on this matter. I f you are a person \\'ith a disability who needs accommodations for this hearing, please contact the City Clerk's Otlicc at (540) 853-2541. before 12:00 noon on Thursday, September 14. 2006. GIVEN under my hand this ~ day of Septel!'b_~r___...,., 2006. Mary F. Parker. City Clerk Notice to Puhlisher: Publish in the Roanoke Times once on Friday, September 8. 2006. Send hill and affidavit to: Mary r:. Parker. City Clerk 215 Church Avenue, S. W. Rllanllke. Virginia 24011 (540) X53-2541 City of Roanoke School Board P.O. Box 13145, Roanoke VA 24031. 540-853-2381. FAX 540-853-2951 David B. Carson, C/1cJir Alvin L. Nash, Vice Ch,Jir Jason E. Bingham Mae G. Huff Wi!!iam H. Lindsey Courtney ^. Penn Todd A. Putney Marvin T. Thompson, Supt..Yintcl7dent Cindy H. Poulton, Clerk of tlJe Board September 18, 2006 The Honorable C. Nelson Harris, Mayor and Members of Roanoke City Council Roanoke, VA 24011 Dear Members of Council: As the result of official School Board action at its meeting on September 12, the Board respectfully requests City Council to appropriate $1,000,000.00 in FY2007 Capital Maintenance and Equipment Replacement funds to provide for a portion of the cost of the construction for the new Patrick Henry High School. The Board thanks you for your approval of the above request. Sincerely, ~.po~ Cindy H. ulton, Clerk re cc: Mr. David B. Carson Mr. Marvin T. Thompson Mr. Kenneth F. Mundy Mrs. Darlene Burcham Mr, William M. Hackworth Mr. Jesse A. Hall Mr. Paul Workman (with accounting details) The Roanoke Times Roanoke, Virginia Affidavit of Publicil~iol] The Roanoke Times --+---------. ~¡AKY PARKER CITY OF KOANOKE MUN,CIPAL BLDG R~ ROANOK~ VA 24011 CITY CT.ERK 456 elT" fI r,v 'll¡h'- cc:p "14" pwP:OC:; '_'l '_"LCI'."\ _"_1"_11..., "'" .........__ REFEReNCE: 1015415: 9846074 NO~ICE OF PUBLIC H~A State of Virginia City of Roar:oke I, (the undersigned) a~1 authorized rcpl-esentative of tlle Times-World Corporation, which corporation is publisher of the Roanoke Times, a daily newspaper publ~shed in Roanoke, in the State of Virginia, do certify Lhat the annexed notice was published in said newspapers on the following dates: City/County of Roanoke, Commonwealth/State of V~~~l' Sworn and subscribed before me this _~__ ___aay of September 2006. Witness my hand an off~c~al seal. ,~t$i~ NOTICE OF PUBLIC HEARING The Council of the"City of Roanoke will consider a proposal to adjust the aggregate amount of its FY 2006·2007 annual budget in the followmg respects, in connection with appropnation of funds for its Capital Maintenance and Equipment Replacement Program . (CMERP) as well as an appropriation of funds for Fleet Management Motor Fuels: FUND RE~~'~~=~ED ADOPTED BUDGET General Fund $239,607.000 Not to exceed $ 664.000 Civic Facilities Fund $ 5,896.954 Not to exceed $ 517,000 Martet Building Fund $ 321.500 Not to exceed $ 485.000 Technology Fund $ 6.501.281 Not to exceed $ 750,000 Fleet Manager.lent F,md S 6.140.468 Net to exceed $ 1,698,500 Grant Fund Not to exceed S 60,000 Capital Project Fund Not to exceed S 1,752,000 Pursuant to the reQ'J:remel'ts of §15.2-2507 Code of Virgi~:a (195~j. as amended not'~e ~ hereby s·ven :~at ttJe CoLoncil of !he cry of Roan~e will Md a CJ~ic heartng ù!" ft'e abo;,~ r,ÎII~ O~ Monday, Ser>f:;m.'>e" 18, 2006, at 7:00 p.rr. .1Q<:a: time, or as soon :herea'er as It'e Matter May ~ he3f1 In t~,,:! Co:,~çil Oambeffl. Room 450, Noel C. TaylorMliniciDai Build "g, 215 Ch~rc~ A~enue. SW. Roano'te, Virç'nia Fo" 'luther 'nformatio'l on . .these mat<ers. yOIJ may contact the Office of the City Cler( a! (54::1) 853-254~. . All parties and mterested dtizens may appear on the above dale and be heard on t!le matter. If you are a person who needs accommodations lor t~is heating, please contact the City Clert·s Office at (!?40l853-2541 be~ore 12:00 noon on Thursday, September 14, 2006. GIVEN under my hand this .9th day of September, 2006. Mat)· F. Par:<er, el/)' Cle'X. PUBI.I;;¡'¡Eij ON: 09/09 TO'~AL COST: FILED ON: 219.61 09/U/06 -------------------¡ i . ~ Authorized Signature :_- ?Jl--~' Billing Services Representative ""\Jf,fS NOTICE OF PUBLIC HEARING The Council of the City of Roanoke will consider a proposal to adjust the aggregate amount of its FY 2006-2007 annual budget in the following respects, in connection with appropriation of funds for its Capital Maintenance and Equipment Replacement Program (CMERP) as well as an appropriation of funds for Fleet Management Motor Fuels: FUND ADOPTED BUDGET $239,607,000 $ 5,896,954 $ 321,500 $ 6,501,281 $ 6,140,468 RECOMMENDED INCREASE General Fund . Civic Facilities Fund Market Building Fund Technology Fund Fleet Management Fund Grant Fund Capital Project Fund Not to exceed $ 664,000 Not to exceed $ 517,000 Not to exceed $ 485,000 Not to exceed $ 750,000 Not to exceed $ 1,698,500 Not to exceed $ 60,000 Not to exceed $ 1,752,000 Pursuant to the requirements of §15.2-2507, Code of Virginia (1950), as amended, notice is hereby given that the Council of the City of Roanoke will hold a public hearing on the above matter on Monday, September 18, 2006, at 7:00 p.m., local time, or as soon thereafter as the matter may be heard, in the Council Chambers, Room 450, Noel C. Taylor Municipal Building, 215 Church Avenue, SW, Roanoke, Virginia. For further information on these matters, you may contact the Office of the City Clerk at (540) 853-2541. All parties and interested citizens may appear on the above date and be heard on the matter. If you are a person who needs accommodations for this hearing, please contact the City Clerk's Office at (540) 853-2541 before 12:00 noon on Thursday, September 14, 2006. GIVEN under my hand this 9th day of September, 2006. Mary F. Parker, City Clerk. Please publish the attached as a display ad to appear for one day, Saturday, September 9, 2006. Send Publisher's Affidavit to: Mary F. Parker, City Clerk Room 456, Municipal Building 215 Church Avenue, SW Roanoke, VA 24011 Send bill to: Department of Management and Budget Room 354, Municipal Building 215 Church Avenue, SW Roanoke, Virginia 24011 Direct questions about this ad to: Amelia Merchant (540) 853-6805 (540) 853-2773 fax Amelia. Merchant@roanokeva.gov CITY OF ROANOKE OFFICE OF THE CITY CLERK 215 Church Awnue, S. W., Room 456 Ro,"oke. Virginia 24011-1536 T dt'phollc: (540) 853·25-11 Fax: (5-10) 853-1 145 [-mail: c1cl"kl!!'l"llanokc,'u.go\' SIIEILA JI;. IIAllTMA\; A~si~tant Cil)' Clerk STEI'n"JI;IE ~I. ~100l;. Ole Acting Ot)" C1l'rk September 20, 2006 File #42-373 Darlene L. Burcham City Manager Roanoke, Virginia Dear Ms. Burcham: I am attaching copy of Ordinance No. 37547-091806 authorizing conveyance of a surface and sub-surface easement of an approximate width of 10 feet and an approximate length of 65 feet across City-owned property identified as Official Tax No.1 02031 0, located on Franklin Road, SW., to Appalachian Power Company, to provide electrical service to the new Fire - EMS Headquarters Building, upon certain terms and conditions. The abovereferenced measure was adopted by the Council of the City of Roanoke at a regular meeting which was held on Monday, September 18, 2006, and is in full force and effect upon its passage. Sincerely, , ðn, /Y)tJ1M) Stephanie M. Moon, CMC { Acting City Clerk SMM:ew Attachment pc: Jesse A. Hall, Director of Finance Philip C. Schirmer, City Engineer R. Brian Townsend, Director, Planning, BUilding and Economic Development Sarah E. Fitton, Real Estate Acquisition, Economic Developm ent L:\CLERK\DATA\CKEW1\AGENDA CORRESPONDENCElagenda correspondence 06\Sept 06\Sept 18 06 cor.doc 'piG IN THE COUNCIL OF THE CITY OF ROA:-.lOlŒ, VIRGINIA The 18th day of September. 2006. No. 37547-091806. A1\ ORDINANCE authorizing the conveyance of a surface and sub-surface eascment of an approximate width of 10 fcet and an approximate length of 65 feet across City-owned property idcntified by Official Tax Map No.1 02031 0, located on Franklin Road, S.W., to Appalachian Power Company. to provide electrical service to the new Fire _ EMS Headquarters Building, upon certain terms and conditions; and dispensing with the sccond reading by title of this ordinance. WHEREAS, a public hearing was held on Septcmber 18, 2006, pursuant to Section 15.2-1800(B) and 1813, Code of Virginia (1950), as amcnded, at which hcaring all parties in interest and citizcns were afforded an opportunity to be heard on such conveyance. THEREFORE, BE IT ORDAI;-.rED by the Council of the City ofRoanokc that: 1. The City Manager and City Clerk are hercby authorized to execute and all est, respectively, upon approved by the City Attorney, the necessary documents donating and conveying a surface and subsurface easement of an approximate width of 10 feet and an approximate length of 65 feet across City-owned property identificd by Official Tax Map 1\0. 1020310, located on Franklin Road, S.W., to Appalachian Powcr Company, to provide electrical scrvicc to the new Fire - EMS Headquarters Building, as morc particularly set forth in the September 18, 2006, lettcr of the City Manager to this Council. .., Pursuant to the provisions of Section 12 of the City Charter, the second reading of this ordinance by title is hereby dispensed with. ATTEST: A";": c;ty~: ~ CITY OF ROANOKE OFFICE OF THE CITY MANAGER )Jpel c:. Tar1l'f ÌVll1nicipallJlIildin" 21.3 Church ·A\"t.~nllL', S.\V., R(lom Jb4 Rpanokt" Virgini,¡ 2AOll-1591 Tt'lq'lwIlL" - (5.()l.":-53··~:~~J F,l\.: (C,...P) :-;:'.1-111~ Cily \\'\'11: \,"W\\" r'I.1Il11kl.'\",1.::Il\" September 18, 2006 Honorable C. Nelson Harris, Mayor Honorable David B. Trinkle, Vice Mayor Honorable Alfred T. Dowe, Jr., Council Member Honorable Beverly T. Fitzpatrick, Jr., Council Member Honorable Sherman P. Lea, Council Member Honorable Gwendolyn W. Mason, Council Member Honorable Brian J. Wish neff, Council Member Dear Mayor Harris and Members of City Council: Subject: Request of Appalachian Power Company for Easement on City Owned Property - #1020310 Fire-EMS Headquarters Building Appalachian Power Company has requested a surface and sub-surface easement approximately 10' x 65' across city-owned property identified by Tax Map No. 1020310, located on Franklin Road, SW, the site of the new Fire-EMS Headquarters Building. The easement is needed to provide underground electrical service to the new building. The proposed easement is described in the attached Agreement, and shown on Drawing No. V-1734. See Attachments #1 & #2. Recommended Action(s): Following a public hearing, adopt the accompanying ordinance authorizing the City Manager to execute the appropriate documents granting a utility easement as described above to Appalachian Power Company, approved as to form by the City Attorney. Respectfully sub ~ Darlene L. Bur City Manager DLB/SEF Attachments c: Mary F. Parker, City Clerk William M. Hackworth, City Attorney Jesse A. Hall, Director of Finance Philip C. Schirmer, City Engineer Sarah E. Fitton, Real Estate Acquisition Specialist CM06-00159 1\1i\P NO. 17HO-278-A3 W.O.NO. W""14000n2 PROPERTY NO. [AS NO. JOB NO. 061021044 THIS AGIŒE\IENT. made this day of . 2006. hy and hetwccn the CITY OF ROA:\OKE. a nlllnicipa1 corporation existing under thc laws of the ConlIlIonwealth of Virginia. hercin called "GRA:\"TOR." and APPALACHIAN POWER CO\lPA:\"Y. a Virginia corporation. herein called "APPALACHIA:\." WIT:\"ESSETH: THAT H)R AND IN CONSmEI{ATIO:\ of the sunl of ONE DOLLAR (51.00). thc receipt of which is herehy acknowledgcd. the GRANTOR hcrcby givcs licc'nsc' and permit to APPAL\CHL\:\. its suc<:cssors ami assigns. and the right. 'privilcge and authority to said APPALACHIA:\". its SUc'L'c'SSlll·S and assigns. to construct. creel. opcrate. and maintain a linc llr lincs for thc' purposc of transmitting electric power undcrground on the proPi.'rty of thl' City of Roanoke. further idcntificd as Roanokc City Tax Parcd III I III ner 1020110 in the City of Roanoke. Virginia. ßEI:\"G a right or way and easemcnt. in. on, along. throngh. across or under said lands for the purpose of providing scrvice to the fire station locatcd at Elm A ,·cnue. S. W.. and f'ranklin Road. S.W.. as shown shaded on that certain Appalachian PllWW COll1pany Drawing V -17.14 datcd f:-9-06. entitled "Proposcd Right of Way on thc Property of City of Roanoke". attached hereto and malk a pan hereof. TOGETHER with thc right to said APPALACHIA:\". its succ<:ssors and assigns. to cOllStruct. erect. install. place. operatc. maintain. inspect. repair. rencw. rcmo'·c. add t(l the numner or. and relocate at will. undcrground conduits. dllL·tS. ,'aulls. cahles. wires. transformers. pedestals. THIS INSTRUMENT PREPARED BY APPALACHIAN POWER COMPANY, P.O. BOX 2021, ROANOKE, VA 24022·2121 llsers. pads. fixtures and appurtL'nanL'CS (hereinaftL'r called "Appalachian's Facilities"). in. OIL along. over. through. across and under thc ahow refelTed to premises: the right 10 disturh the surfaœ llf said prcmises and to excavate thereon, and 10 cut down. trim, clear and/or otherwise cDntrol. and at Appalachian's option. remDVC from said premises any Irces. shruhs. mots. brush. undergrowth. ovcrhanging branches. huildings or other ohstructiLll1s which ma)' endanger ¡hc safety or. Dr intL'rfere with the use of Appalachian's Faeilitics. and the right of ingress and egress to and over said abovc referred to prelllises anel any of Ihc adjoining lands of the Gramors at any and all times, for thc purpose of exercising and enjoying the rights herein granted. and for doing anything neL"Cssary llr IIsL'!'ul or convenient in conlK'clion Iherewilh. The Grant()r hereby grants. L'OIl\'CYS and warrants III Appalachian Power Company a non-exclusive right of way eascmcnt for e1cctrie faeilities. In the evcnt APPALACHIAN slwuld remove all of said Appalachian's facilities from the lands or thc GRANTOR. then all of the rights, title and interest of ¡he pan)' Df APPALA<.:HIAN in the right or \,vay and lieense hereinahove grantcd. shall reven to the (;RANTOR. ils successors and assig.ns. APPALA<.:HIAN agrL'CS to indclllnify and save halllllcss the GRA:\TOR againsl any and all loss or damage. 'lccidt'nts. or injuriL's. to persons or pmpcny. whether of the GRA:\TOR or any other person or corporation. arising in any manner from lh~ negligent construction. operations, or maintenanee. or failure ttl pn,lpcrly construct. operalc. or maintain said Appalachian's faeilitics. TO HA VI<: AND TO HOLD tht, sanll' unto Appalachian Power Company. its successors und assign", Upllll reenrdation of this agn:emcnl Appalachian accepts the terms and conditions eontaincd therein. NOTICE TO LA\"nOWNER: You arc' c'oll\eying righls [(l a puhlie service corporation. A public sC'I"\'ic'e eorporalilln may have the right 10 nhtain some or all of these rights through eXt'reisc of eminel1l domain. To the extent that any of the righls heing c'onveyed arc nol subjec( [(l cminent dnmaiu. you ha\'e the right to choose nnt to convey those rights and you could nnl he compelled to do so. You have the right 10 negotiate compensation for any rights lhat you arc voluntarilyeonvc'ying. \\'ITNESS the signalure of the City of Roanoke hy Darlene L. Burdlam. ils City Manager. and ils 111lulic';pal seal hereto affixed and atlestcd by . its Cily Clerk pursuant to Ordinanl'C No. adopted on CITY 01-' ROANOKE CITY MANAGER 1\ TTEST: CIry' CLERK STATE Or: VIRGINIA ) ) TO-WIT: CITY or: ROANOKE ) l. . a Notary Puh1ie in and for the City and Commoll\\'ealth At Large. do certify that Darlene L. Burcham . City Manager of the City of Roanoke. whosc' namc is signed In lhc writing ahow. has acknowledged the same hefore me in my jurisdiction aforcsaid. Given L1ndcr my hand this day of . 2006. My Commission Expires: Notary Puhlic STATE OF VIRGINIA ) lTO-W1T: CITY OF ROANOKE l I. . a NOlary Puhlic in and for Ihc' City and Commonwealth At Large. do certify Ihat . City Clerk of the City of RO;lI111ke. whose name is signed to the writing ahove. has aànowlcdged the same before me ¡nmy jurisdiction aforesaid. Given under my hand this day of . ~()()6. My Commission Expires: t'\(llary Pub I ic s C/) Q 0:: ;z ::; It:: ;z ~ lJ.. J ROANOKE CI' Y F·R=. STATION CITY OF ROANOKE TAX PARCEL 1.0. # 1020310 s C/) Q 0:: ;Z ::; It:: ;Z ~ lJ.. " '---- DAY AVE SW T 1 I 1 I I I I I }- I I I ROANKE MI:NTAL I HYGIENF SERVICE I I /- -- I I , F-INK REALTY LLC ROANKE MENTAL I H~'GIENE SERVICE ,- - - _I ROANKE MEt'. -AL HYGIEM:: SERVõC!: II , 10' IT :::XISTING POLE I 37e00219A36059 ----- ELM AVE SW I NEW PADMCUNT ~D' rKA'IlSI'ORtII'ER T I I 37800278A35832 + I ': '" <C -1 ROANOKE, VIRGINIA i I ~~ 6;ig20 ~:~N 37800278A3 ) '- I I I I 1 I I -1 c... r -I I 1 I I I _I s C/) I- (/J Q 0::: '" ( f APPALACHIAN PQWFR COMPANY ~"1o".-L:S·ON p=G....~.;"lA~........ ,''''I'' r I_I<,W¡(A<L '/I<'~N'" PROPOSED RIGHT OF WAY ON THE PROPERTY OF CITY OF ROANOKE KJW c" DRAWlt\G NO. Bi9!OO NOM: S'll~' ---=--,..---!....- V-1734 The Roanoke Times Roanoke, Virginia Affidavit of Pllblication The Roa~oke rimes --------+-------- MARY F. PARKER CITY O? ROANOKE CLERK'S OFFICE 215 CHURCIl AVE SW RM '56 NOEL C. TAYLOR MUNICIPAL BLDG. ROANOKE VA 24011 REFERENCE: 32143302 9815545 NOTICEOFPUBLTCHEARIN State of Virginia City of Roanok.e I, (the undersigned) an authorized representative of the ~imes World Corporation, which corporation is publisher of the Roanoke Times, a daily newspaper published in Roanoke, in the State o[ Virginia, do certify that the annexed notice was published in said newspapers on tIle fallowing dates: City/Co~nty of Roa~okc, Commonwealth/State of Virg~ll}ia. Swol-n and subscribed befoz:oe rr.e this _I~t:~day of September 2006. v.litness my hand aJ..~~cial seal. _ ----;¡/4.1..u..-~':fìJG otary Public Y1y rmmisso:/rt- exptr s ~3-1---r-ZOJ.¿=1----. PUBLISEBJ ON, 09/08 TOTAL COST, FILE;) ON, 179.40 09/13/06 ~ I I I I I I I I I I I I I I I i I ! I I I I I I I I I I I I I I I I I I I I I----===- I --------.- , NOnCE OF -~ PUBLIC HEARING : TO WHOM I :Th, C' TM.<\'rCONCER" , tfv of R 'T: ,prOPose's I oùnollf! !easement 0 gr.ûnt ani : ilppro~imilfe W;ClthW ~ f h an: ,and an ûp . o 10 feet , ."1 Of 65 feef, ~~~~Imûfe lel1~lh i I f~OPl.'rty identifi:~ ~fY-o~n~d : , en Map No 1 y OffIcial' ,'OC<1ted . 020310 I ,s.~t· on Frilnl¡lin R 'I 'F' '. ilt the sifl.' of to. 0,10'" I Irl.'·EMS H "e nl.'W' I Blli/ding. fo ~adQU'lrters! Power Com PPûlûChlùn' I Undergrou~,~ny, to pro~lde I ¡ f~(J:n~ :l:ct~~a~:~r:i~~~'g ¡ I ~euûdQ~arters B~;f~in~ EMS! , rsuant .,. , ,reQuireme to fhel : 15.2_1800n~s, of SeCflonf>: 'Cod,.. of V· (. ' and 1813 : I amendl:'d rrgll1!a (~9501, as I ,'il'en thai' notl.ce IS hero:'b ,I ,the CifyotWe ClfYCouncjof¡ :û PUblIC 11~an?k(J will hOld , labo~(J mClfle af~g on thel I:me(lling ;al~lsregUlar: ¥~opolember ln8, 200"06dùy.; . P.m . at: th~reaftl:'r'lsihor as 500n: be heClrd' emûtfermùy' , Ch'l'!l~ers.'~~:r C Co~nclf: ,MunlclPùl B '1 . . T,lylor' I Church .<\v UI dIng. 21S: :/ Roanoke V. e.nye. S.w. : ., blime.Citizfm;'õ11~~a'ca.t I';Mch,' I e gl~(JO itn e Ify shall: appear a'ndogporlUnily 10: ,COuncil on e he-ard by' ~FurfherinfO Ihe.subjecf,1 form of a rmûtlon in fhe' Cooncll dù/e¡ort fo Clfv: 18. 2006 . e Sepfembc;.: th(l Oftic.c Isavùi!ûble from I ~(r fhe Cil of fhE' Cily Clerk I I r540¡ 8S3-Jr.::~i Roanoke al : 'If ,\'ou ar~ 0 . I dlsabi/if ~ person with a: accammo } ~ho nee<ds: hearing 'Pláû~rons for this: C ¡I}' ¿ I Ee:~~ Contacl the; (853-2541) b S Office nOon 0 n' efore 12:00 ~CPtember 1/ ;o~~ 5 d û Y , ¡VEN undGr . 6th day of5 . my hand this Mùrv F. ParJ..ùPfe'!lber. 2006: (9845545) er, Clfy Clerk ---- ----- . -. - - - - - - - - - - - + - - - - - - - - - - - - - - - - - - - - - Authorized -Æ... J Signatllre: -~.f~------ -~----, Billing Se~vices r', RepreS:Snta:.:ive -: n ,- r,a ?=:: . .s' (]"'¡ ..n r""r'1 '--C' .-'" .t:::.. ~ ~.....:.. ~.I ~:::..' en (1~ NOTICE OF PUf3l.1C IlcAIU"IG TO WHO\1 JT MAY CO"lCERN: The City 01" Roan()k~ proposes to grant an casement. with an appmximalc width 01" 10 fect and an approximatc length 01" <i5 I"~d. aeross City-owned properly ilknlificd by OfIìeial Tax i'v1ap "10.1020310. locat,'d lm Franklin Road. S.W.. at thc site 01" the new Fir~-E\-IS H~adquart~rs Building. to Appalachian Power Company. tu pro\'idl' undcrgr')lllld and abo\'e gr()und eI~etrieal service to the new Fire E\1S HcadlJuarkrS Rnilding. Pursuant to thc rcquircmcnts 01" Scetions 15.2-1 SOOtH) and IS 13. Cock of Virginia (1950). as aml'l1lkd. nl,tiec is hl'rcby givcn thatthc City Council of Ih~ City 01" Roanoke will hold a public hearing on th~ abo\"e n1alter at its regular meeting on \-londay. Septemher IS. 200<i. at 7:00 1'.111.. or as soon therealìer as the matter may he hcard in thc Council Chambcrs. 'Joel C. Taylor r-dunicipal Ruilding. 215 Church A\"cnuc. S. W.. Roanoke. Virginia. at which tinlc citizens uf the eily shall he gi\"en an llppUrlunily to appear and be heard hy Council on thc subject. Furlher information in the 10rm of a rcporlto City Council dated S~ptemher IS. 2006. is available fwm thc Otììcc ul" Ihc Cily Cbk I,x thc City of Roanoke at (5--11)) S53-25--11. If you :1I'C a perS(ln with a disability who needs aeeDrlllnodations Illr this hcaring. pleasc "llnlaet the City Ckrk's Olli,'l' (853-25--11). bcll)re 12:00 nOlH] on Thursda\". Scptcmhcr 1--1. 200(i. GIVEJ\ under my hand this 6th day ofSeptcmbcr. 2006. Mary F. Parker, City Clerk Notiee to Publisher: Publish in the Roanoke Times onee on Friday, September 8, 2006. Send bill and aflidavit to: Mary F. Parker, City Clerk 215 Church Avenue, S. w. Roanoke, Virginia 24011 (540) 853-2541 CITY OF ROANOKE Office of the City Clerk Mary F. Parker, CMC City Clerk Stephanie M. Moon, CMC Deputy City Clerk Sheila N. Hartman Assistant City Clerk September 5, 2006 File #51-53-266 The Honorable Mayor and Members of the Roanoke City Council Roanoke, Virginia Dear Mayor Harris and Members of Council: Pursuant to provisions of Resolution No.2 5 523 adopted by the Council of the City of Roanoke on Monday, April 6, 1981, or other instructions by the Council, the following matters have been advertised for public hearing on Monday, September 18, 2006, at 7:00 p.m., in the City Council Chamber: (1) Request of Haitian Sinai Baptist Church, represented by The Reverend Castin Mesadieu, Pastor, that property located at 2905 Cove Road, N. W., identified as Official Tax No. 2480115, be rezoned from R-7, Residential Single Family District, to INPUD, Institutional Planned Unit Development District, to allow for a place to worship. (2) Approval of the issuance of general obligation bonds in an amount estimated not to exceed $2.1 million for financing capital improvements for Monterey Elementary School. (3) Amendment to Enterprise Zone One A and Enterprise Zone Two and its Subzone. (4) Proposal of the City of Roanoke to lease to Francine Barish-Stern Bray, d/b/a Creations, 284 square feet of space located in the City Market Building at 32 Market Square. (5) Proposed adjustment to the aggregate amount of the City's fiscal year 2006-2007 Annual Budget. l:\CLERK\DATA\CKEWI\Public lIearings\Public Hearings 20ú6\")EP 06\Sept 18 C()uncill.eut'r.óoc The Honorable Mayor and Members of the Roanoke City Council September 5, 2006 Page 2 (6) Proposal of the City of Roanoke to convey to Appalachian Power Company an easement across City-owned property to provide electric service to the new Fire-EMS Headquarters Building. I am enclosing copy of a report submitted by the City Planning Commission in connection with Item one public hearing. With kindest personal regards, I am Sincerely, - m. rn~ Stephanie M. Moon, CMC L Deputy City Clerk SMM:ew . pc: Richard A. Rife, Chair, City Planning Commission, 1326 Grandin Road, S. W., Roanoke, Virginia 24015 Darlene L. Burcham, City Manager Rolanda B. Russell, Assistant City Manager for Community Development James L. Grigsby, Acting Assistant City Manager for Operations Susan S. Lower, Director, Real Estate Valuation William M. Hackworth, City Attorney, transmitted electronically bye-mail Steven J. Talevi, Assistant City Attorney Philip C. Schirmer, City Engineer Martha P. Franklin, Secretary, City Planning Commission Sharon A. Mougin, Executive Secretary, City Manager's Office, transmitted electronically bye-mail L\CLERK\DATA\CKEWl\Public Ikarings\Publk Hearings 2006'SF.P 06\Scpt 18 Council I.cneLdoc