Notice is hereby given that the Board of Supervisors (“Board”) of Carroll County, Virginia (the “County”), will hold a public hearing pursuant to the provisions of Section 15.2-2606 of the Code of Virginia (1950), as amended, with respect to the adoption by the Board of a resolution authorizing the issuance of a not to exceed $15,000,000 general obligation school bond (the “Bond”), to be sold by the County to the Virginia Public School Authority (“VPSA”) in connection with certain bonds expected to be issued by VPSA in or around the Spring of 2011 as “qualified school construction bonds” within the meaning of Section 54F of the Internal Revenue Code of 1986, as amended, all as contemplated in an announcement on March 2, 2011 by the Virginia Department of Education, and further described in a Joint Memorandum, dated March 21, 2011, issued by the State Treasurer and the Superintendent of Public Instruction of the Commonwealth of Virginia to certain School Division Superintendents and Local Government Chief Administrative Officers. The proceeds of the Bond, together with any other lawfully available monies, if any, shall be used to pay all or any portion of the costs of capital projects for school purposes in the County, including the construction, reconstruction, rehabilitation, expansion, modernization and equipping of the Carroll County Intermediate School and the Carroll County High School and payment of issuance costs (collectively, the “Project”).
The Bond will be a general obligation school bond of the County secured by a pledge of its full faith and credit. The public hearing, which may be continued or adjourned, will be held at 7:15 p.m., or as soon thereafter as may be practicable, on Monday, April 25, 2011, before the Board in the Board Meeting Room of the Governmental Center located at 605-1 Pine Street, Hillsville, Virginia 24343. Any person interested in the issuance of the Bond or the purpose for which it is being issued may appear at the hearing and present his or her views. The Board may set rules and procedures for the conduct of the public hearing.
Written comments regarding the proposed Bond or the Project may be forwarded either to the County Administrator prior to the public hearing at the address described above, or to the Board during said public hearing.
CARROLL COUNTY, VIRGINIA
Gary Larrowe, County Administrator
