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05-15-2014 Regular MeetingREGULAR MEETING OF THE ISLE OF WIGHT COUNTY BOARD OF SUPERVISORS HELD THE FIFTEENTH DAY OF MAY IN THE YEAR TWO THOUSAND AND FOURTEEN AT 5:00 P.M. IN THE ROBERT C. CLAUD, SR. BOARD ROOM OF THE ISLE OF WIGHT COUNTY COURTHOUSE PRESENT: Byron B. Bailey, Chairman, Newport District Rex W. Alphin, Vice -Chairman, Carrsville District Delores C. Darden, Windsor District Alan E. Casteen, Smithfield District Rudolph Jefferson, Hardy District Also Attending: Mark C. Popovich, County Attorney Anne F. Seward, County Administrator Carey Mills Storm, Clerk Chairman Bailey called the meeting to order at 5:00 p.m. CLOSED MEETING County Attorney Popovich requested the Board enter a closed meeting to discuss specific public appointees to County Boards, Committees, or Authorities pursuant to Section 2.2-3711(A)(1) of the Code of Virginia; under Section 2.2-371l(A)(7) concerning three (3) specific cases of probable litigation related to personnel actions; under Section 2.2-3711(A)(7) concerning consultation with legal counsel regarding the provision of legal advice regarding contractual matters with the County's volunteer emergency service organizations; under Section 2.2-3711(A)(5) concerning consultation with legal counsel regarding the provision of legal advice regarding a proposed partnership with the Town of Smithfield; under Section 2.2-3711(A)(1) regarding the performance of three (3) specific public employees; and, under Sections 2.2-371 l(A)(3) and (A)(7) regarding consultation with legal counsel regarding the provision of legal advice regarding the upcoming Smithfield Intergovernmental Relations Committee meeting. Supervisor Alphin moved that the Board enter the closed meeting for the reasons stated by County Attorney Popovich. The motion was adopted by a vote of (5-0) with Supervisors Bailey, Alphin, Casteen, Darden and Jefferson voting in favor of the motion and no Supervisors voting against the motion. Supervisor Alphin moved that the Board return to open session. The motion was adopted by a vote of (5-0) with Supervisors Bailey, Alphin, Casteen, Darden and Jefferson voting in favor of the motion and no Supervisors voting against the motion. Supervisor Casteen moved that the following Resolution be adopted: CERTIFICATION OF CLOSED MEETING WHEREAS, the Board of Supervisors has convened a closed meeting on 1 this date pursuant to an affirmative recorded vote and in accordance with the provisions of the Virginia Freedom of Information Act; and, WHEREAS, Section 2.2-3712(D) of the Code of Virginia requires a certification by this Board of Supervisors that such closed meeting was conducted in conformity with Virginia law; NOW, THEREFORE, BE IT RESOLVED that the Board of Supervisors hereby certifies that, to the best of each member's knowledge, (i) only public business matters lawfully exempted from open meeting requirements by Virginia law were discussed in the closed meeting to which this certification resolution applies, and (ii) only such public business matters as were identified in the motion convening the closed meeting were heard, discussed or considered by the Board of Supervisors. VOTE AYES: Bailey, Darden, Jefferson, Alphin and Casteen NAYS: 0 ABSENT DURING VOTE: 0 ABSENT DURING MEETING: 0 At 6:00 p.m., Chairman Bailey delivered the invocation. // The Pledge of Allegiance to the Flag was conducted. // APPROVAL OF AGENDA Responsive to a request by County Attorney Popovich that a closed meeting matter be added prior to the County Administrator's report, Supervisor Alphin moved that the agenda be approved as amended. The motion was adopted by a vote of (5-0) with Supervisors Bailey, Alphin, Casteen, Darden and Jefferson voting in favor of the motion and no Supervisors voting against the motion. Supervisor Casteen moved that the County Administrator be authorized to execute the partnership agreement with the Town of Smithfield regarding operations of the Isle of Wight Museum. The motion was adopted by a vote of (5-0) with Supervisors Bailey, Alphin, Casteen, Darden and Jefferson voting in favor of the motion and no Supervisors voting against the motion. 14 H CONSENT AGENDA A. Resolution Celebrating 100' Years of the Virginia Cooperative Extension B. Resolution to Accept and Appropriate PEG Capital Fee Funds C. Resolution to Accept and Appropriate Department of Criminal Justice Services Byrne Justice Assistance Grant Funds for Law Enforcement D. Resolution to Return Grant Funds for the Zuni Well Relocation Project E. Resolution to Accept and Appropriate Funds to the Benns Church Intersection Improvement Project F. Resolution to Accept and Appropriate Funds from the Virginia Department of Agriculture and Consumer Services for the Virginia Cooperative Extension Plastic Pesticide Container Recycling Program G. Resolution to Accept and Appropriate Funds from the Fiscal Year 2013 Emergency Management Performance Grant Program H. Resolution to Elect/Recertify Member Contribution for Virginia Retirement System I. Resolution to Elect/Recertify Employer Contribution Rate for Virginia Retirement System J. Motion to Approve Tax Refund for John and Billie Jo Melting K. Motion to Consent to Vacation of Norsworthy Plat Dated July 10, 2012 L. September 19, 2013 Regular Meeting Minutes M. October 17, 2013 Regular Meeting Minutes N. November 21, 2013 Regular Meeting Minutes Supervisor Casteen moved that the Consent Agenda be adopted as presented. The motion was adopted by a vote of (5-0) with Supervisors Bailey, Alphin, Casteen, Darden and Jefferson voting in favor of the motion and no Supervisors voting against the motion. REGIONAL REPORTS Supervisor Jefferson provided highlights of the Jail Authority's most recent meeting held on May 14, 2014. K Supervisor Darden publicly commended the Virginia Cooperative Extension Service for its 100 years of service. Supervisor Darden provided highlights of a meeting held on May 14, 2014 with Congressman Randy Forbes. Supervisor Alphin reported on a meeting held between the Chairmen and Vice -Chairmen of the Board of Supervisors and the School Board on May 8, 2014. He advised that he had also taken a tour of the Georgie D. Tyler Middle School in Windsor. APPOINTMENTS Supervisor Casteen moved that Florine Moore be appointed to serve on the Social Services Board representing the Smithfield District. The motion was adopted by a vote of (5-0) with Supervisors Bailey, Alphin, Casteen, Darden and Jefferson voting in favor of the motion and no Supervisors voting against the motion. Supervisor Darden moved that Howard Mandaville be appointed to the Board of Building Appeals representing the Windsor District and replacing W. L. Jones. The motion was adopted by a vote of (5-0) with Supervisors Bailey, Alphin, Casteen, Darden and Jefferson voting in favor of the motion and no Supervisors voting against the motion. Supervisor Darden moved that Wilson E. Holland be reappointed to the Wetlands Board representing the Windsor District. The motion was adopted by a vote of (5-0) with Supervisors Bailey, Alphin, Casteen, Darden and Jefferson voting in favor of the motion and no Supervisors voting against the motion. Chairman Bailey moved that Carroll E. Keen, Jr. be reappointed to the Industrial Development Authority representing the Windsor District. The motion was adopted by a vote of (5-0) with Supervisors Bailey, Alphin, Casteen, Darden and Jefferson voting in favor of the motion and no Supervisors voting against the motion. FIA SPECIAL PRESENTATION/APPEARANCES The Board received a slide presentation of animals currently available for adoption at the County's animal shelter by Donald T. Robertson, Director of Information Resources and Legislative Affairs. The Board received an update on the U.S. Route 460 Corridor Improvements Project by Phil Rinehart, Virginia Department of Transportation. El A Resolution of Appreciation for Joseph R. "Rusty" Chase was presented to Mr. Chase by Supervisor Alphin. Supervisor Casteen moved that the following Resolution be adopted: RESOLUTION OF APPRECIATION FOR JOSEPH R. "RUSTY"CHASE WHEREAS, Mr. Joseph R. "Rusty" Chase began his employment with the County of Isle of Wight, Virginia as a part-time Medic in May 2000 and continued to serve as Coordinator of Emergency Management, Director of Emergency Services, and, most recently, Chief of Emergency Services; and, WHEREAS, Mr. Chase has managed the Emergency Services Department in a manner that safeguarded lives and property and has benefited and improved the quality of life of the citizens of Isle of Wight County; and, WHEREAS, Mr. Chase was a highly valued and respected staff member whose talents will be greatly missed; and, WHEREAS, Mr. Chase retired from formal employment with the County on April 30, 2014. NOW, THEREFORE, BE IT RESOLVED that the Board of Supervisors of the County of Isle of Wight, Virginia recognizes and appreciates Joseph R. "Rusty" Chase, Chief of Emergency Services, for outstanding achievement and distinguished service to the citizens of Isle of Wight County. BE IT FURTHER RESOLVED that the Isle of Wight County Board of Supervisors extends to Joseph R. "Rusty" Chase its best wishes for his future endeavors and orders that a copy of this Resolution be spread upon the minutes of this Board this fifteenth day of May 2014. The motion was adopted by a vote of (5-0) with Supervisors Bailey, Alphin, Casteen, Darden and Jefferson voting in favor of the motion and no Supervisors voting against the motion. Supervisor Darden moved that the Resolution recognizing the accomplishments of Bria Kelly be moved from Item (A) under the County Administrator's report to Item (D) under Special Presentations. The motion was adopted by a vote of (5-0) with Supervisors Bailey, Alphin, Casteen, Darden and Jefferson voting in favor of the motion and no Supervisors voting against the motion. A Resolution to Recognize the Accomplishments of Bria Kelly was presented to Ms. Kelly by Supervisor Darden. Supervisor Casteen moved that the following Resolution be adopted: 0 RESOLUTION TO RECOGNIZE THE ACHIEVEMENTS OF BRIA KELLY WHEREAS, Miss Bria Kelly is a resident of Isle of Wight County; and, WHEREAS, Miss Kelly is an honor roll student at Smithfield High School that has also been blessed with a great deal of musical talent including singing, writing songs, and playing the guitar; and, WHEREAS, for the past several years, Miss Kelly has established herself as a popular entertainer, performing at venues and events throughout Hampton Roads; and, WHEREAS, Miss Kelly appeared on the national stage in 2012 as a performer selected by NBC to perform on "America's Got Talent"; and, WHEREAS, most recently Miss Kelly participated as a top 10 finalist on NBC's "The Voice". NOW, THEREFORE, BE IT RESOLVED that the Board of Supervisors of the County of Isle of Wight, Virginia recognizes and congratulates Miss Bria Kelly on her achievements in entertainment. BE IT FURTHER RESOLVED that the Isle of Wight County Board of Supervisors extends to Miss Bria Kelly its best wishes for her future endeavors and orders that a copy of this Resolution be spread upon the minutes of this Board this fifteenth day of May 2014. The motion was adopted by a vote of (5-0) with Supervisors Bailey, Alphin, Casteen, Darden and Jefferson voting in favor of the motion and no Supervisors voting against the motion. The Board received a presentation on the "Read to Them" program by Gary Anderson. H CITIZENS' COMMENTS Michael Uzzle addressed his concern regarding an article recently published in the Smithfield Times that not all County residents have access to computers and may not be able to vote on the County's branding. Jesse Gwaltney, representing the Windsor Volunteer Fire Department, commented on the importance of volunteers and expressed his opposition to the proposed Facilities Use Agreement. He made reference to a previously adopted Memorandum of Understanding (MOU) between the County and the Windsor Volunteer Fire Department and requested that all other volunteer fire departments and rescue squads have the opportunity to adopt the same MOU. it Frank Taylor of Carrollton requested that the Board adopt an ordinance requiring all animal owners to discard of their animal's waste. Pete Green addressed the Board concerning the costs associated with the proposed U.S. Route 460 improvements project. He encouraged waivers not be granted for the recently adopted Stormwater fee. He made reference to a recent newspaper article regarding the proposed false data provided to the Federal Government for the Federal loan for the Georgie D. Tyler Middle School and inquired if the Federal Government could request its $24 million be returned as a result. Lastly, he addressed the County's recently adopted budget. H PUBLIC HEARINGS Chairman Bailey called for a public hearing on the following: A. Ordinance to Designate as Exempt from Taxation All Real and Personal Property Owned or Operated by Windsor Athletic Association County Attorney Popovich certified that the matter had been properly advertised for public hearing. Chairman Bailey called for persons to speak in favor of or in opposition to the following proposed Ordinance. No one appeared and spoke. Chairman Bailey closed the public hearing and called for comments from the Board. Supervisor Darden moved that the following Ordinance be adopted: AN ORDINANCE TO DESIGNATE AS EXEMPT FROM TAXATION ALL REAL AND PERSONAL PROPERTY OWNED OR OPERATED BY WINDSOR ATHLETIC ASSOCIATION BE IT, AND IT IS HEREBY ORDAINED, by the Board of Supervisors of the County of Isle of Wight, Virginia, to -wit: That, in accordance with Section 58.1-3651 of the Code of Virginia (1950, as amended), all real and personal property currently owned and operated, or which may be owned and operated in the future, by Windsor Athletic Association is hereby exempt from taxation by Isle of Wight County, Virginia for so long as Windsor Athletic Association continues to use such real and personal property in the furtherance of its operation as a charitable organization and for so long as Windsor Athletic Association remains in 7 compliance with all federal, state and local laws and regulations related to the operation of such charitable organizations. The motion was adopted by a vote of (5-0) with Supervisors Bailey, Alphin, Casteen, Darden and Jefferson voting in favor of the motion and no Supervisors voting against the motion. Chairman Bailey called for a public hearing on the following: B. Brewers Neck Transportation Corridor Study Richard Rudnicki, Planner, provided an overview of the Study and recommended that the Board approve it with the changes identified as an appendix to the Isle of Wight County Comprehensive Plan. Carol Collins, Transportation Planner, Kimley Horne & Associates, presented the Brewer's Neck Corridor Study to the Board. Chairman Bailey called for persons to speak in favor of or in opposition to the Study. No one appeared and spoke. Chairman Bailey closed the public hearing and called for comments from the Board. Supervisor Darden moved that the Brewer's Neck Transportation Corridor Study be adopted. The motion was adopted by a vote of (5-0) with Supervisors Bailey, Alphin, Casteen, Darden and Jefferson voting in favor of the motion and no Supervisors voting against the motion. Chairman Bailey called for a public hearing on the following: C. Benn's Grant Mixed -Use Development/Amendment to the Proffer Statement, Master Plan and Neighborhood Plan Book Beverly H. Walkup, Director of Planning and Zoning, presented the proposed amendment to the Proffer Statement. Chairman Bailey called for persons to speak in favor of or in opposition to the Study. No appeared and spoke. Chairman Bailey closed the public hearing and called for comments from the Board. Supervisor Alphin moved that the changes be authorized to the Benn's Grant Mixed Use Development by amending the Proffer Statement, Master Plan and Neighborhood Plan. The motion was adopted by a vote of (5-0) with Supervisors Bailey, Alphin, Casteen, Darden and Jefferson voting in favor of the motion and no Supervisors voting against the motion. Chairman Bailey called for a public hearing on the following: D. Virginia Department of Transportation (VDOT) FY2015-2020 Secondary Six -Year Improvement Program (SSYIP) and Construction Priority List Jamie Oliver, Transportation Planner, provided an overview of the Plan and recommended the adoption of the proposed resolution approving the Plan. Chairman Bailey called for persons to speak in favor of or in opposition to the Study. No one appeared and spoke. Chairman Bailey closed the public hearing and called for comments from the Board. Supervisor Darden moved that the Program and List be adopted. The motion was adopted by a vote of (5-0) with Supervisors Bailey, Alphin, Casteen, Darden and Jefferson voting in favor of the motion and no Supervisors voting against the motion. H CLOSED MEETING County Attorney Popovich requested a closed meeting pursuant to Section 2.2-3711(A)(7) of the Code of Virginia concerning consultation with legal counsel requiring the provision of legal advice regarding contractual matters with the volunteer emergency service organizations and pursuant to Sections 2.2-3711(A)(3) and (A)(7) regarding consultation with legal counsel requiring the provision of legal advice concerning the upcoming Smithfield Intergovernmental Relations Committee meeting. Supervisor Alphin moved that the Board enter the closed meeting for the reasons stated. The motion was adopted by a vote of (5-0) with Supervisors Bailey, Alphin, Casteen, Darden and Jefferson voting in favor of the motion and no Supervisors voting against the motion. Supervisor Alphin moved that the Board return to open session. The motion was adopted by a vote of (5-0) with Supervisors Bailey, Alphin, Casteen, Darden and Jefferson voting in favor of the motion and no Supervisors voting against the motion. Supervisor Casteen moved that the following Resolution be adopted: CERTIFICATION OF CLOSED MEETING WHEREAS, the Board of Supervisors has convened a closed meeting on I this date pursuant to an affirmative recorded vote and in accordance with the provisions of the Virginia Freedom of Information Act; and, WHEREAS, Section 2.2-3712(D) of the Code of Virginia requires a certification by this Board of Supervisors that such closed meeting was conducted in conformity with Virginia law; NOW, THEREFORE, BE IT RESOLVED that the Board of Supervisors hereby certifies that, to the best of each member's knowledge, (i) only public business matters lawfully exempted from open meeting requirements by Virginia law were discussed in the closed meeting to which this certification resolution applies, and (ii) only such public business matters as were identified in the motion convening the closed meeting were heard, discussed or considered by the Board of Supervisors. VOTE AYES: Bailey, Darden, Jefferson, Alphin and Casteen NAYS: 0 ABSENT DURING VOTE: 0 ABSENT DURING MEETING: 0 COUNTY ADMINISTRATOR'S REPORT Mary Beth Johnson, the County's new Director of Human Resources, was formally introduced. Michael W. Terry, Director of Budget and Finance, provided an overview of the proposed changes to the County's purchasing policy. Supervisor Casteen moved that the following Resolution be adopted: RESOLUTION TO AMEND PURCHASING POLICY WHEREAS, Isle of Wight County, Virginia staff in conjunction with the County Attorney has reviewed and made revisions to the County's purchasing policy, and WHEREAS, the purchasing policy will serve as the County's procurement laws, policies and procedures, and WHEREAS, the revised purchasing policy when adopted by the Board of Supervisors will replace the existing content located in Chapter 2: Financial and Accounting, Article 1 of the County Policy Manual. 10 NOW, THEREFORE, BE IT RESOLVE, that the Isle of Wight County Board of Supervisors hereby amends Chapter 2: Financial and Accounting, Article 1 of the County Policy Manual as prescribed in the attachment. BE IT FURTHER RESOLVED, that the County Administrator of Isle of Wight County, Virginia is authorized by the Board of Supervisors to do all things necessary to give this resolution effect. The motion was adopted by a vote of (5-0) with Supervisors Bailey, Alphin, Casteen, Darden and Jefferson voting in favor of the motion and no Supervisors voting against the motion. Jimmy Sanderson, Davenport & Company, responsive to discussions with the Board at its April 10, 2014 meeting regarding the restructuring of a portion of the County's existing debt in order to assist in meeting future budget requirements, presented a Resolution to Restructure Existing General Obligation and Utility Fund Debt and a Resolution Providing for the Issuance, Sale and Award of General Obligation Refunding Bonds, Series 2014, of Isle of Wight County, Virginia, in a Principal Amount not to Exceed $50,000,000, Providing for the Form, Details and Payment Thereof, and Providing for the Refunding of Certain General Obligation Bonds of the County for the Board's consideration. Supervisor Casteen moved that the following Resolution be adopted: RESOLUTION TO RESTRUCTURE EXISITING GENERAL OBLIGATION AND UTILITY FUND DEBT WHEREAS, Isle of Wight County, Virginia Board of Supervisors has received a recent presentation from the County's financial advisor Davenport & Company reporting to the Board that restructuring of existing general obligation and utility fund debt at current market rates should result in the County achieving an average of $2.61 million per year by restructuring the payment requirements of existing debt and improving cash flow savings through FY 2023, thus adding to the overall debt to be repaid by the restructuring. NOW, THEREFORE, BE IT RESOLVED that the Board of Supervisors of Isle of Wight County, Virginia authorizes the restructuring the existing general obligation and utility fund debt. BE IT FURTHER RESOLVED, that the County Administrator of Isle of Wight County, Virginia is authorized by the Board of Supervisors to restructure the County's existing general obligation and utility fund debt and to do all things necessary to give this resolution effect. The motion was adopted by a vote of (5-0) with Supervisors Bailey, Alphin, Casteen, Darden and Jefferson voting in favor of the motion and no Supervisors voting against the motion. 11 Supervisor Casteen further moved that the following Resolution be adopted: RESOLUTION PROVIDING FOR THE ISSUANCE, SALE AND AWARD OF GENERAL OBLIGATION REFUNDING BONDS, SERIES 2014, OF ISLE OF WIGHT COUNTY, VIRGINIA, IN A PRINCIPAL AMOUNT NOT TO EXCEED $50,000,000, PROVIDING FOR THE FORM, DETAILS AND PAYMENT THEREOF, AND PROVIDING FOR THE REFUNDING OF CERTAIN GENERAL OBLIGATION BONDS OF THE COUNTY WHEREAS, pursuant to Section 10(b) of Article VII of the Constitution of Virginia and Section 15.2-2639 (formerly Section 15.1-227.40) of the Code of Virginia of 1950, as amended, Isle of Wight County, Virginia (the "County"), has elected by affirmative vote of the qualified voters of the County, to be treated as a city for the purpose of issuing its bonds; WHEREAS, the County has previously issued its Literary Fund Loan, Series 1999 (the "Series 1999 Bonds"), of which $1,500,000 remains outstanding; WHEREAS, on August 9, 2005, the County issued its $13,880,000 General Obligation Refunding Bonds, Series 2005 (the "Series 2005 Bonds"), of which $8,475,000 remains outstanding; WHEREAS, on December 16, 2008, the County issued its $25,000,000 General Obligation Public Improvement Bonds, Series 2008B (the "Series 2008 Bonds"), of which $23,450,000 remains outstanding; WHEREAS, on September 30, 2010, the County issued its $12,145,000 General Obligation Refunding Bonds, Series 2010D (the "Series 2010 Bonds"), of which $10,450,000 remains outstanding; WHEREAS, on June 29, 2011, the County issued its $17,630,000 General Obligation Public Improvement and Refunding Bonds, Series 2011A (the "Series 2011 A Bonds"), of which $17,630,000 remains outstanding; WHEREAS, on June 29, 2011, the County issued its $7,500,000 General Obligation Literary Loan Anticipation Notes, Series 2011 C (the "Series 2011 C Bonds"), of which $7,500,000 remains outstanding; WHEREAS, on September 27, 2012, the County issued its $48,465,000 General Obligation Public Improvement and Refunding Bonds, Series 2012 (the "Series 2012 Bonds"), of which $48,465,000 remains outstanding; 12 WHEREAS, the County administration, in consultation with Davenport & Company LLC, the County's financial advisor (the "Financial Advisor"), has recommended to the Board of Supervisors that the County authorize the refunding of a portion of the outstanding Series 1999 Bonds, Series 2005 Bonds, Series 2008 Bonds, Series 2010 Bonds, Series 2011 A Bonds, Series 2011 C Bonds and Series 2012 Bonds (together, the "Refunded Bonds"), and the issuance and sale of two or more series of general obligation refunding bonds, in order to restructure the repayment schedule of the Refunded Bonds to improve the County's anticipated budgetary and cash flow requirements; and WHEREAS, the County administration, in consultation with the Financial Advisor, has recommended to the Board that the County issue and sell a single series of tax-exempt general obligation refunding bonds in a principal amount not to exceed $25,000,000 and a single series of taxable general obligation refunding bonds in a principal amount not to exceed $25,0005000; BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF ISLE OF WIGHT COUNTY, VIRGINIA: Issuance of Bonds. There shall be issued and sold, pursuant to the Constitution and statutes of the Commonwealth of Virginia, including the Public Finance Act of 1991, (a) tax-exempt general obligation refunding bonds of the County in the maximum aggregate principal amount of $25,000,000 (the "Tax -Exempt Bonds") to (i) provide funds to refund a portion of the Refunded Bonds (the "Tax -Exempt Refunded Bonds") and (ii) pay the costs incurred in connection with issuing the Tax -Exempt Bonds and refunding the Tax -Exempt Refunded Bonds, and (b) taxable general obligation refunding bonds of the County in the maximum aggregate principal amount of $25,000,000 (the "Taxable Bonds") to (i) provide funds to refund a portion of the Refunded Bonds (the "Taxable Refunded Bonds") and (ii) pay the costs incurred in connection with issuing the Taxable Bonds and refunding the Taxable Refunded Bonds. The Tax - Exempt Bonds and the Taxable Bonds are referred to together as the "Bonds". Bond Details. The Tax -Exempt Bonds may be issued in a single series and shall be designated "General Obligation Refunding Bonds, Series 2014A (Tax - Exempt)," or such other designation as shall be determined by the County Administrator, shall be in registered form, shall be dated such date as determined by the County Administrator, shall be in denominations of $5,000 and integral multiples thereof, and shall be numbered R-1 upward. Subject to Section 8, the issuance and sale of the Tax -Exempt Bonds are authorized on terms as shall be satisfactory to the County Administrator; provided, however, that (a) the Tax -Exempt Bonds shall have a "true" or "Canadian" interest cost not to exceed 5.75%, taking into account any original issue discount or premium on the Tax -Exempt Bonds, (b) the Tax -Exempt Bonds shall be sold at a price not less than 97% of the original aggregate principal amount thereof (excluding any original issue discount), and (c) the Tax -Exempt Bonds shall mature or be subject to mandatory sinking fund redemptions in annual installments ending no later than December 31, 2042. Principal of the Tax - 13 Exempt Bonds shall be payable annually and interest on the Tax -Exempt Bonds shall be payable semiannually on dates determined by the County Administrator. The Taxable Bonds may be issued in a single series and shall be designated "General Obligation Refunding Bonds, Series 2014B (Taxable)," or such other designation as shall be determined by the County Administrator, shall be in registered form, shall be dated such date as determined by the County Administrator, shall be in denominations of $5,000 and integral multiples thereof, and shall be numbered R-1 upward. Subject to Section 8, the issuance and sale of the Taxable Bonds are authorized on terms as shall be satisfactory to the County Administrator; provided, however, that (a) the Taxable Bonds shall have a "true" or "Canadian" interest cost not to exceed 7%, taking into account any original issue discount or premium on the Taxable Bonds, (b) the Taxable Bonds shall be sold at a price not less than 97% of the original aggregate principal amount thereof (excluding any original issue discount), and (c) the Taxable Bonds shall mature or be subject to mandatory sinking fund redemptions in annual installments ending no later than December 31, 2042. Principal of the Taxable Bonds shall be payable annually and interest on the Taxable Bonds shall be payable semiannually on dates determined by the County Administrator. Each Bond shall bear interest at such rate as shall be determined at the time of sale, calculated on the basis of a 360 -day year of twelve 30 -day months. Principal and premium, if any, shall be payable to the registered owners upon surrender of Bonds as they become due at the office of the Registrar (as hereinafter defined). Interest shall be payable by check or draft mailed to the registered owners at their addresses as they appear on the registration books kept by the Registrar on a date prior to each interest payment date that shall be determined by the County Administrator (the "Record Date"). Principal, premium, if any, and interest shall be payable in lawful money of the United States of America. Initially, one Bond certificate for each maturity of each series of the Bonds shall be issued to and registered in the name of The Depository Trust Company, New York, New York ("DTC'), or its nominee. The County has heretofore entered into a Blanket Letter of Representations relating to a book -entry system to be maintained by DTC with respect to the Bonds. "Securities Depository" shall mean DTC or any other securities depository for the Bonds appointed pursuant to this Section. In the event that (a) the Securities Depository determines not to continue to act as the securities depository for the Bonds by giving notice to the Registrar, and the County discharges its responsibilities hereunder, or (b) the County in its sole discretion determines (i) that beneficial owners of Bonds shall be able to obtain certificated Bonds or (ii) to select a new Securities Depository, then its chief financial officer shall, at the direction of the County, attempt to locate another qualified securities depository to serve as Securities Depository and authenticate and deliver certificated Bonds to the new Securities Depository or its nominee, or authenticate and deliver certificated Bonds to the beneficial 14 owners or to the Securities Depository participants on behalf of beneficial owners substantially in the form provided for in Section 5; provided, however, that such form shall provide for interest on the Bonds to be payable (A) from the date of the Bonds if they are authenticated prior to the first interest payment date, or (B) otherwise from the interest payment date that is or immediately precedes the date on which the Bonds are authenticated (unless payment of interest thereon is in default, in which case interest on such Bonds shall be payable from the date to which interest has been paid). In delivering certificated Bonds, the chief financial officer shall be entitled to rely on the records of the Securities Depository as to the beneficial owners or the records of the Securities Depository participants acting on behalf of beneficial owners. Such certificated Bonds will then be registrable, transferable and exchangeable as set forth in Section 7. So long as there is a Securities Depository for the Bonds (1) it or its nominee shall be the registered owner of the Bonds, (2) notwithstanding anything to the contrary in this Resolution, determinations of persons entitled to payment of principal, premium, if any, and interest, transfers of ownership and exchanges and receipt of notices shall be the responsibility of the Securities Depository and shall be effected pursuant to rules and procedures established by such Securities Depository, (3) the Registrar and the County shall not be responsible or liable for maintaining, supervising or reviewing the records maintained by the Securities Depository, its participants or persons acting through such participants, (4) references in this Resolution to registered owners of the Bonds shall mean such Securities Depository or its nominee and shall not mean the beneficial owners of the Bonds and (5) in the event of any inconsistency between the provisions of this Resolution and the provisions of the above - referenced Blanket Letter of Representations such provisions of the Blanket Letter of Representations, except to the extent set forth in this paragraph and the next preceding paragraph, shall control. Redemption Provisions. The Bonds may be subject to redemption prior to maturity at the option of the County at a price and on or after dates, if any, determined by the County Administrator. Any term bonds may be subject to mandatory sinking fund redemption upon terms determined by the County Administrator. If less than all of a series of the Bonds are called for redemption, the maturities of the series of Bonds to be redeemed shall be selected by the County's chief financial officer in such manner as the chief financial officer may determine to be in the best interest of the County. If less than all the Bonds of a particular maturity of a series are called for redemption, the Bonds within such maturity of such series to be redeemed shall be selected by the Securities Depository pursuant to its rules and procedures or, if the book -entry system is discontinued, shall be selected by the Registrar by lot in such manner as the Registrar in its discretion may determine. In either case, (a) the portion of any Bond to be redeemed shall be in the principal amount of $5,000 or some integral multiple thereof and (b) in selecting Bonds for redemption, each Bond 15 shall be considered as representing that number of Bonds that is obtained by dividing the principal amount of such Bond by $5,000. The County shall cause notice of the call for redemption identifying the Bonds or portions thereof to be redeemed to be sent by facsimile or electronic transmission, registered or certified mail or overnight express delivery, not less than 30 nor more than 60 days prior to the redemption date, to the registered owner of the Bonds. The County shall not be responsible for sending notice of redemption to anyone other than DTC or another qualified Securities Depository or its nominee unless no qualified Securities Depository is the registered owner of the Bonds. If no qualified Securities Depository is the registered owner of the Bonds, notice of redemption shall be sent to the registered owners of the Bonds. If a portion of a Bond is called for redemption, a new Bond in principal amount equal to the unredeemed portion thereof will be issued to the registered owner upon the surrender thereof. In the case of an optional redemption, the notice may state that (1) it is conditioned upon the deposit of moneys, in an amount equal to the amount necessary to effect the redemption, no later than the redemption date or (2) the County retains the right to rescind such notice on or prior to the scheduled redemption date (in either case, a "Conditional Redemption"), and such notice and optional redemption shall be of no effect if such moneys are not so deposited or if the notice is rescinded as described herein. Any Conditional Redemption may be rescinded at any time. The County shall give prompt notice of such rescission to the affected Bondholders. Any Bonds subject to Conditional Redemption where redemption has been rescinded shall remain outstanding, and the rescission shall not constitute an event of default. Further, in the case of a Conditional Redemption, the failure of the County to make funds available on or before the redemption date shall not constitute an event of default, and the County shall give immediate notice to all organizations registered with the Securities and Exchange Commission as securities depositories or the affected Bondholders that the redemption did not occur and that the Bonds called for redemption and not so paid remain outstanding. Execution and Authentication. The Bonds shall be signed by the manual or facsimile signature of the Chairman or Vice Chairman of the Board, shall be countersigned by the manual or facsimile signature of the Clerk or Deputy Clerk of the Board and the Board's seal shall be affixed thereto or a facsimile thereof printed thereon; provided, however, that if both of such signatures are facsimiles, no Bond shall be valid until it has been authenticated by the manual signature of an authorized officer or employee of the Registrar and the date of authentication noted thereon. Bond Form. The Bonds shall be in substantially the form of Exhibit A attached hereto, with such completions, omissions, insertions and changes not inconsistent with this Resolution as may be approved by the officers signing the Bonds, whose approval shall be evidenced conclusively by the execution and delivery of the Bonds. Pledge of Full Faith and Credit. The full faith and credit of the County are irrevocably pledged for the payment of principal of and premium, if any, and 16 interest on the Bonds. Unless other funds are lawfully available and appropriated for timely payment of the Bonds, the Board shall levy and collect an annual ad valorem tax, over and above all other taxes authorized or limited by law and without limitation as to rate or amount, on all locally taxable property in the County sufficient to pay when due the principal of and premium, if any, and interest on the Bonds. Registration, Transfer and Owners of Bonds. The County Administrator is hereby authorized and directed to appoint a qualified bank or trust company as paying agent and registrar for the Bonds (the "Registrar"). The Registrar shall maintain registration books for the registration and registration of transfers of Bonds. Upon presentation and surrender of any Bonds at the corporate trust office of the Registrar, together with an assignment duly executed by the registered owner or his duly authorized attorney or legal representative in such form as shall be satisfactory to the Registrar, the County shall execute and the Registrar shall authenticate, if required by Section 4, and deliver in exchange, a new Bond or Bonds having an equal aggregate principal amount, in authorized denominations, of the same form and maturity, bearing interest at the same rate, and registered in names as requested by the then registered owner or his duly authorized attorney or legal representative. Any such exchange shall be at the expense of the County, except that the Registrar may charge the person requesting such exchange the amount of any tax or other governmental charge required to be paid with respect thereto. The Registrar shall treat the registered owner as the person exclusively entitled to payment of principal, premium, if any, and interest and the exercise of all other rights and powers of the owner, except that interest payments shall be made to the person shown as owner on the registration books on the Record Date. Sale of Bonds. The Board approves the following terms of the sale of the Bonds. The Bonds shall be sold through a competitive sale or a negotiated sale with a qualified investment banking firm (the "Underwriter") as the County Administrator, in collaboration with the Financial Advisor, determines to be in the best interest of the County. The County Administrator, in collaboration with the Financial Advisor, is authorized and directed to determine (i) the aggregate principal amount of the Bonds, subject to the limitations set forth in Section 1, (ii) the interest rates of the Bonds, maturity schedule of the Bonds, and the prices to be paid for the Bonds by the purchaser or the Underwriter (as applicable), subject to the limitations set forth in Section 2, (iii) the redemption provisions of the Bonds, subject to the limitations set forth in Section 3, and (iv) the dated date, the principal and interest payment dates and the Record Date of the Bonds, all as the County Administrator determines to be in the best interest of the County. If the County Administrator determines to sell the Bonds by competitive sale, the County Administrator is authorized to receive bids for the Bonds and award the Bonds to the bidder providing the lowest "true" or "Canadian" interest cost, 17 subject to and taking into account the limitations and terms set forth in Section 2. Following a competitive sale, the County Administrator shall file a certificate with the Clerk of the Board setting forth the final terms of the Bonds. The actions of the County Administrator in selling the Bonds shall be conclusive, and no further action with respect to the sale and issuance of the Bonds shall be necessary on the part of the Board. If the County Administrator determines to sell the Bonds by negotiated sale with the Underwriter, the County Administrator is authorized to execute and deliver to the Underwriter a bond purchase agreement (the "Bond Purchase Agreement') between the County and the Underwriter. The Bond Purchase Agreement shall be in the form approved by the County Administrator, in collaboration with the County Attorney and the County's bond counsel, and shall reflect the final terms of the Bonds. The execution of the Bond Purchase Agreement by the County Administrator shall constitute conclusive evidence of his approval of such completions, omissions, insertions and changes necessary to reflect the final terms of the Bonds. Following a negotiated sale, the County Administrator shall file a copy of the Bond Purchase Agreement with the records of the Board. The actions of the County Administrator in selling the Bonds by negotiated sale to the Underwriter shall be conclusive, and no further action with respect to the sale and issuance of the Bonds shall be necessary on the part of the Board. Notice of Sale. If the Bonds are sold by competitive bid, the County Administrator, in collaboration with the Financial Advisor, is authorized and directed to take all proper steps to have prepared and distributed, in accordance with standard practices of municipal securities, a notice of sale to advertise the Bonds for sale. Such notice of sale shall be in a form that is not inconsistent with the provisions of this Resolution and as the County Administrator may consider to be in the best interest of the County. Official Statement. A draft of a Preliminary Official Statement describing the Bonds, copies of which have been provided to the members of the Board, is approved as the form of the Preliminary Official Statement by which the Bonds will be offered for sale, with such completions, omissions, insertions and changes not inconsistent with this Resolution as the County Administrator, in collaboration with the Financial Advisor, may consider appropriate. After the Bonds have been sold, the County Administrator, in collaboration with the Financial Advisor, shall make such completions, omissions, insertions and changes in the Preliminary Official Statement not inconsistent with this Resolution as are necessary or desirable to complete it as a final Official Statement, execution thereof by the County Administrator to constitute conclusive evidence of his approval of any such completions, omissions, insertions and changes. The County shall arrange for the delivery to the purchaser or Underwriter of the Bonds of a reasonable number of copies of the final Official Statement, within seven business days after the Bonds have been sold, for delivery to each potential investor requesting a copy of the Official Statement and to each person to whom such purchaser or Underwriter initially sell Bonds. Official Statement Deemed Final. The County Administrator is authorized, on behalf of the County, to deem the Preliminary Official Statement and the Official Statement in final form, each to be final as of its date within the meaning of Rule 15c2-12 ("Rule 15c2-12") of the Securities and Exchange Commission (the "SEC"), except for the omission in the Preliminary Official Statement of certain pricing and other information permitted to be omitted pursuant to Rule 15c2-12. The distribution of the Preliminary Official Statement and the Official Statement in final form shall be conclusive evidence that each has been deemed final as of its date by the County, except for the omission in the Preliminary Official Statement of such pricing and other information permitted to be omitted pursuant to Rule 15c2-12. Preparation and Delivery of Bonds. After the Bonds have been awarded, the Chairman or Vice Chairman and the Clerk or Deputy Clerk of the Board are authorized and directed to take all proper steps to have the Bonds prepared and executed in accordance with their terms and to deliver the Bonds to the purchaser or Underwriter thereof upon payment therefor. Escrow Deposit Agreement. The County Administrator is authorized to execute and deliver one or more escrow deposit agreements (collectively, the "Escrow Agreement") between the County and an escrow agent to be appointed by the County Administrator (the "Escrow Agent"). The Escrow Agreement shall be in the form approved by the County Administrator, in collaboration with the County Attorney and the County's bond counsel, and shall provide for the deposit and investment of a portion of the Bond proceeds for the defeasance of the Refunded Bonds. The execution of the Escrow Agreement by the County Administrator shall constitute conclusive evidence of such official's approval of the Escrow Agreement. The Escrow Agreement shall provide for the irrevocable deposit of a portion of the Bond proceeds (the "Refunding Portion") in escrow funds which shall be sufficient to provide for payment of principal of and premium, if any, and interest on the Refunded Bonds; provided, however, that the Refunding Portion pertaining to the Tax - Exempt Bonds shall be invested in such manner that none of the Tax -Exempt Bonds will be "arbitrage bonds" within the meaning of Section 148 of the Code. Deposit of Bond Proceeds. The County Treasurer and the Director of Budget and Finance or either of them is authorized and directed (a) to provide for the delivery of the Refunding Portion to the Escrow Agent for deposit in the escrow funds established by the Escrow Agreement, in an amount that will be sufficient, together with any other funds deposited with the Escrow Agent and the interest thereon when invested as provided in the Escrow Agreement, (i) to pay when due the interest on the Refunded Bonds to the first date on which they may be redeemed at the option of the County and (ii) to pay upon the earlier of maturity or redemption the principal of the Refunded Bonds, plus any interest accrued and unpaid to such redemption date, plus the applicable redemption premium, and (b) to provide for the deposit of the remaining WE proceeds of the Bonds in a special account to be used to pay the costs incurred in refunding the Refunded Bonds and issuing the Bonds. The County Treasurer and the Director of Budget and Finance or either of them is further authorized and directed to take all such further action as may be necessary or desirable in connection with the payment and refunding of the Refunded Bonds. Arbitrage Covenants. The County covenants that it shall not take or omit to take any action the taking or omission of which will cause the Tax -Exempt Bonds to be "arbitrage bonds" within the meaning of Section 148 of the Code, or otherwise cause interest on the Tax -Exempt Bonds to be includable in the gross income of the registered owners thereof under existing law. Without limiting the generality of the foregoing, the County shall comply with any provision of law which may require the County at any time to rebate to the United States any part of the earnings derived from the investment of the gross proceeds of the Tax -Exempt Bonds, unless the County receives an opinion of nationally recognized bond counsel that such compliance is not required to prevent interest on the Tax -Exempt Bonds from being includable in the gross income of the registered owners thereof under existing law. The County shall pay any such required rebate from its legally available funds. Non -Arbitrage Certificate and Elections. Such officers of the County as may be requested are authorized and directed to execute an appropriate certificate setting forth the expected use and investment of the proceeds of the Tax - Exempt Bonds in order to show that such expected use and investment will not violate the provisions of Section 148 of the Code, and any elections such officers deem desirable regarding rebate of earnings to the United States for purposes of complying with Section 148 of the Code. Such certificate and elections shall be in such form as may be requested by bond counsel for the County. Limitation on Private Use. The County covenants that it shall not permit the proceeds of the Tax -Exempt Bonds or the facilities refinanced with the proceeds of the Tax -Exempt Bonds to be used in any manner that would result in (a) 5% or more of such proceeds or the facilities refinanced with such proceeds being used in a trade or business carried on by any person other than a governmental unit, as provided in Section 141(b) of the Code, (b) 5% or more of such proceeds or the facilities refinanced with such proceeds being used with respect to any output facility (other than a facility for the furnishing of water), within the meaning of Section 141(b)(4) of the Code, or (c) 5% or more of such proceeds being used directly or indirectly to make or refinance loans to any persons other than a governmental unit, as provided in Section 141(c) of the Code; provided, however, that if the County receives an opinion of nationally recognized bond counsel that any such covenants need not be complied with to prevent the interest on the Tax -Exempt Bonds from being includable in the gross income for federal income tax purposes of the registered 20 owners thereof under existing law, the County need not comply with such covenants. Continuing Disclosure Agreement. The County Administrator is hereby authorized to execute and deliver a continuing disclosure agreement (the "Continuing Disclosure Agreement") setting forth the reports and notices to be filed by the County and containing such covenants as may be necessary to assist the purchasers of the Bonds in complying with the provisions of the Rule promulgated by the SEC. The Continuing Disclosure Agreement shall be substantially in the form of the draft attached to the Preliminary Official Statement, with such completions, omissions, insertions and changes that are not inconsistent with this Resolution. Other Actions. All other actions of officers of the County in conformity with the purposes and intent of this Resolution and in furtherance of the issuance and sale of the Bonds are approved and confirmed. The officers of the County are authorized and directed to execute and deliver all certificates and instruments and to take all such further action as may be considered necessary or desirable in connection with the issuance, sale and delivery of the Bonds. Repeal of Conflicting Resolutions. All resolutions or parts of resolutions in conflict herewith are repealed. Effective Date. This Resolution shall take effect immediately. The motion was adopted by a vote of (5-0) with Supervisors Bailey, Alphin, Casteen, Darden and Jefferson voting in favor of the motion and no Supervisors voting against the motion. County Administrator Seward presented a request for the County to enter into a funding agreement for the monitoring of stream gauges in the Chowan River Basin. She advised that staff's recommendation is to deny the request due to current financial constraints and because a majority of the residential properties most likely to flood have already been mitigated by the County. Supervisor Alphin moved that the request be denied. The motion was adopted by a vote of (5-0) with Supervisors Bailey, Alphin, Casteen, Darden and Jefferson voting in favor of the motion and no Supervisors voting against the motion. County Administrator Seward presented, on behalf of the School Superintendent, a Resolution to Authorize the Transfer and Commitment of Funds for the Acquisition of School Buses and Commitment of Textbook Funds. Supervisor Darden moved that the following Resolution be adopted: RESOLUTION TO AUTHORIZE TRANSFER AND COMMITMENT 21 OF FUNDS FOR THE ACQUISITION OF SCHOOL BUSES AND COMMITMENT OF TEXTBOOK FUNDS WHEREAS, savings in the Isle of Wight County Public Schools' FY2013-14 Instructional Services category have been achieved through vacancy savings and attrition adjustments; and, WHEREAS, a categorical adjustment from Instructional Services to Transportation, in the amount of $300,000, for the acquisition of three (3) school buses to replace buses that are beyond the recommended useful life; and, WHEREAS, FY 2013-14 State textbook funds remaining as of June 30, 2014 (subject to the annual financial audit) need to be committed to the Schools' FY 2014-15 Textbook budget. NOW, THEREFORE, BE IT HEREBY RESOLVED that the Board of Supervisors of the County of Isle of Wight, Virginia authorize the transfer of $300,000 from the Instructional Services category to the Transportation category in its FY2013-14 Operating Budget for the purchase of initiating the acquisition of three (3) buses prior to June 30, 2014 and commit said funding to the Transportation category in Schools' FY2014-15 Operating Budget. BE IT FURTHER RESOLVED that the Board of Supervisors commits FY2013-14 State textbooks funds remaining as of June 30, 2014 (subject to the annual financial audit) to the Schools' FY 2014-15 Textbook Budget. BE IT FURTHER RESOLVED that the County Administrator of Isle of Wight County is authorized to make the appropriate accounting adjustments and to do all things necessary to give this resolution effect. The motion was adopted by a vote of (5-0) with Supervisors Bailey, Alphin, Casteen, Darden and Jefferson voting in favor of the motion and no Supervisors voting against the motion. County Administrator Seward reported on steps taken to date by staff with respect to the issues of fire and rescue titling of vehicles and a facility use agreement between the County and its volunteer fire and rescue organizations. She requested permission to enter into agreements for vehicle titling and facility use. Supervisor Alphin moved that the County Administrator be authorized to enter into a Facilities Use Agreement with each of the fire and rescue departments and, in the event the departments do not execute the Facilities Use Agreement by the Board's June 19, 2014 regular meeting, the Board will consider withholding all designated funding, capital and operating, from each non-compliant department until such time as an agreement is executed with that department. The motion was adopted by a vote of (5-0) with Supervisors Bailey, Alphin, Casteen, Darden and Jefferson voting in favor of the motion and no Supervisors voting against the motion. 22 Supervisor Darden moved that staff be directed to review the existing Memorandum of Understanding (MOU) with Windsor (and Smithfield, if applicable) to ensure that the provisions contained within that MOU will allow for the County to move forward and that action on the issue of vehicle titling will be taken at the Board's June 19, 2014 regular meeting. The motion was adopted by a vote of (5-0) with Supervisors Bailey, Alphin, Casteen, Darden and Jefferson voting in favor of the motion and no Supervisors voting against the motion. // UNFINISHED/OLD BUSINESS No old business items were offered for discussion. NEW BUSINESS No new business items were offered for discussion. // INFORMATIONAL ITEMS County Administrator Seward noted the following items were included in the agenda for the Board's information: Tourism Activities; Charter Transition to Comcast; and, Monthly Reports Delinquent Tax Information and Statement of Treasurer's Accountability. // At 9:00 p.m., Chairman Bailey declared the meeting adjourned. Carey lls Storm, Clerk 23