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PUBLIC NOTICE: Public Hearing to recieve comments and consider the adoption of a bond resolution

May 19, 2011


Notice is hereby given that the Board of Supervisors of Shenandoah County, Virginia (the “County”) will hold a public hearing to receive public comments and to consider the adoption of a bond resolution authorizing the issuance by the County of a not to exceed $1,308,415 revenue bond (the “Bond”) to be sold to Virginia Resources Authority (“VRA”), as Administrator of Virginia Water Facilities Revolving Fund (the “Fund”), as described below.

The County shall issue the Bond to provide permanent financing of all or any portion of the costs to (i) acquire, construct and equip a septage receiving station at the County Landfill located at 349 Landfill Road in Edinburg, Virginia, and a pumping station to be located on County Landfill property adjacent to the leachate collection pond in order for the County to meter septage discharge from waste haulers, including engineering, design and other professional fees in connection with such undertakings, (ii) construct and install an approximately two-mile long force main for leachate and septage that shall commence at the County Landfill and terminate at the North Fork Wastewater Treatment Facility located at 850 Aileen Road in Edinburg, Virginia, (iii) acquire, construct and equip any related facilities to such essential solid waste and wastewater system improvements, and (iv) pay Bond issuance costs (all such capital projects in connection with the County’s solid waste and wastewater system being collectively referenced herein as the “Project”). Pursuant to the terms of a Commitment Letter from VRA, as Administrator of the Fund, dated April 14, 2011, the County’s loan payments will commence approximately six months after Project completion and continue over a term of twenty years at a 2.93% Cost of Funds (representing 2.73% interest to the Fund and a 0.20% administrative and management services fee).

The Bond shall be secured by the revenues and receipts received by the County in connection with all solid waste system and facilities owned, operated or maintained by the County and used for the collection, management, disposal, incineration, storage, recycling or conversion into energy of solid waste, subject to the County’s right to use such monies for the payment of operating and maintenance expenses therefore. In addition, the pledge of such revenues and receipts shall be supplemented by the County’s moral obligation pledge of support to the payment of the Bond.

The public hearing, which may be continued or adjourned, will be held before the Supervisors at or around 7:00 p.m. on Tuesday, May 24, 2011, in the Board Meeting Room of the Shenandoah County Government Center, located at 600 North Main Street, in the Town of Woodstock, Virginia 22664. Any person interested in the Project, or the issuance of the Bond to pay the costs thereof, may appear at the hearing and present his or her views.

Additional information with respect to the Project and the Bond is on file and available for public review in the offices of the County Administrator at Shenandoah County Administration, 600 North Main Street, Suite 102, Woodstock, Virginia 22664. Written comments regarding the Project or the proposed issuance of the Bond may be forwarded to the County Administrator at such address or to the Supervisors during said public hearing.

Douglas C. Walker, County Administrator

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