Loading...
05-21-1986 Minutes.. . BOARD OF SUPERVISORS MINUTES May 21, 1986 Supervisors in Attendance: Mr. R. Garland Dodd, Chairman Mr. Harry G. Daniel, Vice Chairman Mr. G. H. Applegate Mrs. Joan Girone Mr. Jesse J. Mayes Mr. Richard L. Hedrick County Administrator Staff in Attendance: Mrs. Doris DeHart, Legislative Coord. Chief Robert Eanes, Fire Department Mr. Bradford S. Hammer, Asst. Co. Admin. Mr. Steve Micas, Co. Attorney Mrs. Pauline Mitchell, Dir. of News/Info. Services Col. Joseph Pittman, Chief of Police Mr. Lane Ramsey, Dir. of Budget & Acctg. Mr. M. D. Stith, Jr., Exec. Asst., Co. Adm. Mr. Frederick W. Willis, Dir. of Human Resource Management Mr. Dodd called the meeting to order in the Conference Room at the Crosswind Restaurant at 4:00 p.m. rather than 5:00 p.m. (EDST) . 1. EXECUTIVE SESSION On motion of Mr. Daniel, seconded by Mr. Applegate, the Board went into Executive Session to consult with legal counsel regarding legal matters relative to the contract with the Virginia Department of Highways and Transportation and Chesterfield County for Powhite Parkway. Vote: Unanimous Reconvening: 2. DINNER MEETING WITH VOLUNTEER DISTRICT FIRE CHIEFS The Board met for dinner in the Conference Room at 5:00 p.m. at the Crosswind Restaurant with the Volunteer District Fire Chiefs. The Chiefs presented a budget request to the Board for 1986-87 and discussed other matters of mutual concern. (A copy of the budget request is filed with the papers of this Board.) The Board recessed to travel to the Courthouse. Reconvening at 7:30 p.m.: 3. APPROVAL OF SALE OF REFUNDING BONDS On motion of the Board, the following resolution was adopted: 11 � A RESOLUTION APPROVING THE SALE OF FOURTEEN MILLION FOUR HUNDRED FORTY-FIVE THOUSAND DOLLARS ($14,445,000) PRINCIPAL AMOUNT OF PUBLIC IMPROVE- MENT REFUNDING BONDS, SERIES OF 1986, DATED AS OF JUNE 1, 1986, OF THE COUNTY OF CHESTERFIELD, VIRGINIA, TO WHEAT, FIRST SECURITIES, INC. AND CRAIGIE INCORPORATED, AS UNDERWRITERS; APPROVING THE FORM AND THE TERMS, CONDITIONS AND PROVISIONS OF A PURCHASE CONTRACT, DATED MAY 21, 1986, BY AND BETWEEN SUCH COUNTY AND SUCH UNDERWRITERS, PROVIDING FOR THE SALE OF SUCH BONDS TO SUCH UNDERWRITERS, AND AUTHORIZING THE EXECUTION AND DELIVERY OF SUCH PURCHASE CONTRACT TO SUCH UNDERWRITERS; FIXING THE MATURITIES, INTEREST RATES AND OTHER DETAILS OF SUCH BONDS; APPROVING THE FORM OF SUCH BONDS; APPROVING THE FORM OF AN OFFICIAL STATEMENT RELATING TO SUCH BONDS AND AUTHORIZING THE DISTRIBUTION THEREOF; APPROVING THE FORM AND THE TERMS, CONDITIONS AND PROVISIONS OF A REFUNDING TRUST AGREEMENT, DATED AS OF JUNE 1, 1986, BY AND BETWEEN SUCH COUNTY AND BANK OF VIRGINIA TRUST COMPANY, AS ESCROW AGENT, AND AUTHORIZING THE EXECUTION AND DELIVERY OF SUCH REFUNDING TRUST AGREEMENT TO SUCH ESCROW AGENT; DESIGNATING AND GIVING IRREVOCABLE INSTRUCTIONS FOR THE REDEMPTION ON JUNE 15, 1992 OF SUCH COUNTY'S PUBLIC IMPROVEMENT BONDS, SERIES OF 1982, DATED AS OF JUNE 15, 1982 AND MATURING ON JUNE 15 IN EACH OF THE YEARS 1993 TO 2003, BOTH INCLUSIVE; RATIFYING CERTAIN ACTS AND PROCEEDINGS; AND OTHERWISE PROVIDING FOR THE ISSUANCE OF SUCH BONDS BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE COUNTY OF CHESTERFIELD, VIRGINIA: SECTION 1. Findings and Determinations. (a) Pursuant to the resolution adopted by this Board of Supervisors of the County of Chesterfield, Virginia (the "County"), on May 14, 1986, entitled "A RESOLUTION AUTHORIZING AND PROVIDING FOR THE ISSU- ANCE, SALE AND DELIVERY OF PUBLIC IMPROVEMENT REFUNDING BONDS, SERIES OF 1986, OF THE COUNTY OF CHESTERFIELD, VIRGINIA, FOR THE PURPOSE OF REFUNDING IN ADVANCE OF MATURITY A PORTION OF THE COUNTY'S PUBLIC IMPROVEMENT BONDS, SERIES OF 1982 (the "Authoriz- ing Resolution"), this Board, subject to the approval of the State Council on Local Debt, authorized the issuance, sale and delivery of an issue of general obligation Public Improvement Refunding Bonds, Series of 1986 (the "1986 Bonds"), for the purpose of refunding in advance of their stated maturities a portion of the County's Public Improvement Bonds, Series of 1982, dated as of June 15, 1982 (the "1982 Bonds"), the 1982 Bonds to be refunded being the 1982 Bonds maturing in the principal amount of $1,125,000 on June 15 in each of the years 1986 and 1993 to 2003 both inclusive, which 1982 Bonds are outstanding on the date of adoption of this resolution in the principal amount of $13,500,000 (b) On May 15, 1986, the State Council on Local, in accor- dance with the provisions of Section 15.1-193 of the Code of Virginia, 1950, as amended, adopted a resolution approving the issuance of the 1986 Bonds. (c) Pursuant to the Authorizing Resolution, this Board authorized the County Administrator and other appropriate offi- cials of the County to negotiate the sale of the 1986 Bonds to the underwriters for which Wheat, First Securities, Inc. and Craigie Incorporated have been designated to act as co -managers (the "Underwriters"). (d) Pursuant to the Authorizing Resolution, the County Administrator and other appropriate officials of the County have negotiated to sell the 1986 Bonds to the Underwriters upon the terms and conditions set forth in the form of Purchase Contract, dated May 21, 1986, by and between the County and the Underwriters (the "Purchase Contract") presented to the meetin g 86-359 t"*., of this Board at which this resolution is being adopted. (e) This Board deems it advisable and in the best interest of the County to approve the sale of the 1986 Bonds to the Underwriters pursuant to and in accordance with the terms and conditions of the Purchase Contract and to take other appropriate action in connection with the issuance, sale and delivery of the 1986 Bonds and the refunding in advance of their stated matu- rities of the 1982 Bonds maturing on June 15 in each of the years 1986 and 1993 to 2003, both inclusive. SECTION 2. Approval of Sale of 1986 Bonds; Approval of Purchase Contract and Terms, Provisions and Conditions Thereof; Execution and Delivery of Purchase Contract. (a) Pursuant to the authority of and for the purposed specified in the Authoriz- ing Resolution, this Board hereby authorizes the sale of the 1986 Bonds to the Underwriters at the price of Fourteen Million Two Hundred Eighty -Six Thousand Eight Hundred Twenty -Seven and 25/100 Dollars ($14,286,827.25), plus accrued interest from the date of the 1986 Bonds to the date of delivery thereof to, and payment therefore by, the Underwriters. The 1986 Bonds shall be issued in the principal amount of Fourteen Million Four Hundred Forty - Five Thousand Dollars ($14,445,000) and shall mature in each of the years and in the principal amounts, and shall bear interest at the rates per annum, and shall have such other details, as shall be specified in Section 4 hereof. (b) The form of the Purchase Contract presented to the meeting of this Board at which this resolution is being adopted, and the terms, conditions and provisions thereof, are hereby approved, ratified and confirmed, and the Clerk of this Board is hereby authorized and directed to execute and deliver to the Underwriters the Purchase Contract in such form. SECTION 3. Good Faith Check. In accordance with Paragraph 5 of the Purchase Contract, the Underwriters shall deliver to the County a certified or bank cashier's check payable to the order of the "County of Chesterfield, Virginia" in Richmond Clearing House Funds for $144,450 (being an amount equal to one percent (1%) of the principal amount of the 1986 Bonds). The County agrees to hold such check uncashed until the Closing (as defined in the Purchase Contract) as security for the performance by the Underwriters of their obligation to accept delivery of and pay for the 1986 Bonds at the Closing, and, in the event of the Underwriters' compliance with such obligation, such check shall be returned to the Underwriters at the Closing as provided in Paragraph 8 of the Purchase Contract. In the event of the County's failure to deliver the 1986 Bonds at the Closing, or if the County shall be unable to satisfy the conditions of the obligations of the Underwriters contained in the Purchase Con- tract, or if the obligations of the Underwriters shall be ter- minated for any reason permitted by the Purchase contract, the Purchase Contract shall terminate and neither the County nor the Underwriters shall have any further obligation thereunder, except that the check referred to in Paragraph 5 of the Purchase Con- tract shall be immediately returned to the Underwriters by the County and the respective obligations of the County and the Underwriters for the payment of expenses, as provided in Para- graph 11 of the Purchase Contract, shall continue in full force and effect. In the event the Underwriters fail (other than for reason permitted under the Purchase contract) to accept delivery of and pay for the 1986 Bonds at the Closing as provided in the Purchase Contract, such check shall be retained by the County as and for liquidated damages for such failure and for any defaults thereunder on the part of the Underwriters, and the cashing of such check shall constitute a full release and discharge of all claims by the County against the Underwriters arising out of the transactions contemplated by the Purchase Contract. SECTION 4. Details of the 1986 Bonds. (a) The 1986 Bonds shall mature on June 15 in each of the years and in the principa amounts specified below and shall bear interest payable on December 15, 1986 and semiannually on each June 15 and December 15 thereafter at the rates per annum set forth opposite each suc year, to wit: Principal Interest Principal Interest Year Amount Rate Year Amount Rate 1987 130,000 4.50% 1996 1,275,000 7.05% 1988 175,000 5.10 1997 1,245,000 7.20 1989 185,000 5.40 1998 1,215,000 7.30 1990 195,000 5.70 1999 1,180,000 7.40 1991 205,000 6.00 2000 1,140,000 7.45 1992 220,000 6.25 2001 1,120,000 7.50 1993 1,360,000 6.45 2002 1,095,000 7.55 1994 1,330,000 6.65 2003 1,075,000 7.60 1995 1,300,000 6.85 (b) The 1986 Bonds maturing on or before June 15, 1996 shall not be subject to redemption prior to their stated matu- rities. The 1986 Bonds maturing on and after June 15, 1997 shal be subject to redemption at the option of the County prior to their stated maturities, in whole at any time, or in part from time to time on any interest payment date, at the redemption prices with respect to each such 1986 Bond expressed as a per- centage of the principal amount of each such 1986 Bond to be redeemed set forth below, together with interest accrued thereon to the date fixed for redemption: Period During Which Redeemed Redemption (Both Dates Inclusive) Prices June 15, 1996 to June 14, 1997 102% June 15, 1997 to June 14, 1998 101 June 15, 1998 and thereafter 100 SECTION 5. Form of 1986 Bonds. The 1986 Bonds shall be in substantially the form set forth below with such necessary or appropriate variations, omissions and insertions as are inci- dental to their numbers, interest rates and maturities or as are otherwise permitted or required by law or this resolution: REGISTERED No. R - INTEREST RATE UNITED STATES OF AMERICA COMMONWEALTH OF VIRGINIA COUNTY OF CHESTERFIELD PUBLIC IMPROVEMENT REFUNDING BOND SERIES OF 1986 REGISTERED MATURITY DATE ORIGINAL ISSUE DATE June 1, 1986 REGISTERED HOLDER: PRINCIPAL SUM: CUSIP The County of Chesterfield (hereinafter referred to as the "County"), a political subdivision of the Commonwealth of Virginia, for value received, hereby promises to pay to the Registered Holder (named above), or registered assigns, on the Maturity Date (specified above), unless this Bond shall have bee duly called for previous redemption and payment of the redemptio price shall have been duly made or provided for, the Principal Sum (specified above), and to pay interest on such Principal Sum on December 15, 1986 and semiannually on each June 15 and Decem- ber 15 thereafter (each such date is hereinafter referred to as an "interest payment date"), from the date hereof or from the interest payment date next preceding the date of authentication 86-361 rm�L hereof to which interest shall have been paid, unless such date of authentication is an interest payment date, in which case from such interest payment date if interest has been paid to such date, or unless such date of authentication is within the period from the fourteenth (14th) day next preceding an interest payment date to such interest payment date, in which case from such interest payment date if interest has been paid to such date, such interest to be paid to the maturity or redemption hereof at the Interest Rate (specified above) per annum by check mailed by the Registrar hereinafter mentioned to the Registered Holder in whose name this Bond is registered on the books of registry kept and maintained by the Registrar as of the close of business on the first day (whether or not a business day) of each calendar month in which interest is payable at his address as it appears on such books of registry. The principal of and premium, if any, on this bond are payable upon presentation and surrender hereof at the principal corporate trust office of Bank of Virginia Trust Company in the City of Richmond, Virginia (the "Registrar"). The principal of an premium, if any, and interest on this Bond are payable in such coin or currency of the United States of America as at the respective dates of payment is legal tender for public and private debts. REFERENCE IS MADE TO THE FURTHER PROVISIONS OF THIS BOND S FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES HAVE THE EFFECT AS THOUGH FULLY SET FORTH HEREIN. This Bond is one of a duly authorized issue of Bonds (herei referred to as the "Bonds") of the aggregate principal amount of Fourteen Million Four Hundred Forty -Five Thousand Dollars ($14,445,000), and is issued under and pursuant to an in full compliance with the Constitution and statutes of the Commonwealt of Virginia, including Chapter 5 of Title 15.1 of the Code of Virginia, 1950, as amended (the same being the Public Finance Act), and resolutions duly adopted by the Board of Supervisors o the County under such Chapter 5, for the purpose of refunding in advance of their state maturities bonds heretofore issued by the County to finance the costs of various public improvement proj- ects of and for the County. The Bonds of the series of Bonds of which this Bond is one (or portions thereof in installments of $5,000 or any integral multiple thereof) maturing on and after June 15, 1997 are subject to redemption at the option of the County prior to their stated maturities, in whole at any time, or in part from time to time of any interest payment date, at the redemption prices with respect to each such Bond expressed as a percentage of the principal amount of each such Bond to be redeemed set forth below, together with interest accrued thereon to the date fixed for redemption: Period During Which Redeemed (Both Dates Inclusive) Redemption Prices June 15, 1996 to June 14, 1997 102% June 15, 1997 to June 14, 1998 101 June 15, 1998 and thereafter 100 In the event less than all of the Bonds of a particular maturity are called for redemption, the particular bonds of such maturity or portions thereof in installments of $5,000 to be redeemed shall be selected by the Registrar by lot. If this Bond is redeemable and this Bond (or any portion of the principal amount hereof in installments of $5,000) shall be called for redemption, notice of the redemption hereof, specify- ing the date, number and maturity of this Bond, the date and place fixed for its redemption and the premium, if any, payable upon such redemption, and if less than the entire principal amount of this Bond is to be redeemed, that this Bond must be surrendered in exchange for the principal amount hereof to be redeemed and the issuance of a new Bond equalling in principal amount that portion of the principal amount hereof not to be 86-362 W 0"N redeemed, shall be mailed not less than thirty (30) days prior to the date fixed for redemption by first class mail, postage prepaid, to the Registered Holder of this Bond at his address as it appears o the books of registry maintained by the Registrar as of the close of business on the forty-fifth (45th) day preceding the date fixed for redemption. If notice of redemption of this Bond shall have been given as aforesaid, and payment of the principal amount of this Bond (or portion of the principal amount hereof to be redeemed) and of the accrued interest and premium, if any, payable upon such redemption shall have been duly made orl provided for, interest hereon shall cease to accrue from and after the date so specified for the redemption hereof. Subject to the limitations and upon payment of the charges, if any, provided in the proceedings authorizing the Bonds of the series of which this Bond is one, this Bond may be exchanged at the principal corporate trust office of the Registrar for a like aggregate principal amount of Bonds of other authorized principal amounts and of the series of which this Bond is one. This Bond is transferable by the Registered Holder hereof, in person or by his attorney duly authorized in writing, at the principal corpo- rate trust office of the Registrar but only in the manner, subject to the limitations and upon payment of the charges, if any, provided in the proceedings authorizing the Bonds of the series of which this Bond is one, and upon the surrender hereof for cancellation. Upon such transfer a new Bond or Bonds of authorized denominations and of the same aggregate principal amount of the series of which this Bond is one will be issued to the transferee in exchange herefor. The full faith and credit of the County are hereby irrevo- cably pledged to the payment of the principal of an interest on this Bond as the same become due. This Bond shall not be valid or obligatory unless the certificate of authentication hereon shall have been manually signed by an authorized signator of the Registrar. It is hereby certified, recited and declared that all acts, conditions and things required to have happened, to exist and to have been performed precedent to and in the issuance of this Bon and the series of which it is one, do exist, have happened and have been performed in regular and due time, form and manner as required by law, and that this Bond and the Bonds of the series of which this Bond is one do not exceed any constitutional or statutory limitation of indebtedness. IN WITNESS WHEREOF, the County, by its Board of Supervisors, has caused this Bond to be executed by the facsimile signature of the Chairman of Such Board; a facsimile of the corporate seal of such Board to be imprinted hereon, attested by the facsimile signature of the Clerk of such Board; and this Bond to be dated as of June 1, 1986. [SEAL] Attest: Clerk of the Chairman of the Board of Supervisors Board of Supervisors CERTIFICATE OF AUTHENTICATION This Bond is one of the Bonds delivered pursuant to the within -mentioned proceedings. 86-363 le_ . 00..►. Date of Authentication: BANK OF VIRGINIA TRUST COMPANY, Registrar By: Authorized Signator FORM OF ASSIGNMENT For value received, and transfers unto PLEASE INSERT SOCIAL SECURITY OR OTHER TAX IDENTIFYING NUMBER OF ASSIGNEE: hereby sells, assi the within -mentioned Bond and hereby irrevocably constitutes and appoints , attorney, to transfer the same on th books of registry of the County kept at the principal corporate trust office of the Registrar with full power of substitution in the premises. Dated: gistere NOTE: The signature to this assignment must corre- spond with the name as written on the face o the within Bond in every particular, without alteration, enlargement or any change what- soever. Signature Guaranteed: NOTE: Signature(s) must be guaranteed by a member firm of The New York Stock Exchange, Inc. or a commercial bank or trust company. SECTION 6. Official Statement; Certificate Concerning Official Statement. The Chairman of this Board and the County Administrator are hereby authorized and directed to execute and deliver to the Underwriters an Official Statement of the County, dated May 21, 1986, relating to the 1986 Bonds, in substantially the form of the draft thereof presented to the meeting of this Board at which this resolution is being adopted (the "Official Statement"), after the same has been completed by the insertion of the maturities, interest rates and other details of the 1986 Bonds and by making such other insertions, changes or correction as the County Administrator, based on the advice of the County's financial advisors and legal counsel (including Bond Counsel), deems necessary or appropriate; and this Board hereby authorizes the Official Statement and the information contained therein to be used by the Underwriters in connection with the sale of the 1986 Bonds. The County Administrator and the Director of Budget and Accounting are hereby authorized and directed to execute on behalf of the County and deliver to the Underwriters a certificate in substantially the form referred to in the 86-364 W Official Statement under the caption "Certificate Concerning Official Statement". SECTION 7. Approval of Form of Refunding Trust Agreement and Terms, Conditions and Provisions Thereof; Execution and Delivery of Refunding Trust Agreement; Appointment of Escrow Agent; Authorization of Subscriptions for SLGS. (a) The form of the Refunding Trust Agreements, dated as of June 1, 1986 (the "Refunding Trust Agreement"), by and between the County and Bank of Virginia Trust Company, as Escrow Agent (the "Escrow Agent"), presented to and filed with the minutes of the meeting of this Board at which this resolution is being adopted, and the terms, conditions and provisions thereof, are hereby approved, ratified and confirmed by this Board, and the Chairman and the Clerk of this Board are hereby authorized and directed to execute and deliver to the Escrow Agent the Refunding Trust Agreement in substantially such form, together with such changes as shall be approved by the Chairman and the Clerk of this Board upon the advice of counsel (including Bond Counsel), such approval to be conclusively evidenced by their execution thereof. (b) The appointment of Bank of Virginia Trust Company as Escrow Agent under the Refunding Trust Agreement is hereby approved, ratified and confirmed by this Board. (c) The County Administrator and the Director of Budget a Accounting of the County, or either of them, are hereby au- thorized to execute, on behalf of the County, subscriptions for United States Treasury Obligations - State and Local Government Series, to be purchased by the Escrow Agent from moneys deposit in the 1986 Refunding Trust Fund created and established under the Refunding Trust Agreement. Such United States Treasury Obligations - State and Local Government Series so purchased shall be held by the Escrow Agent under and in accordance with the provisions of the Refunding Trust Agreement. SECTION 8. Application of Proceeds of 1986 Bonds. The proceeds of sale of the 1986 Bonds shall be applied as follows: (a) An amount equal to the interest accrued on the 1986 Bonds from their date to the date of the delivery thereof and payment therefor shall be deposited in the County's General Fund and applied on December 15, 1986 to the payment of a portion of the interest payable on the 1986 Bonds on such date. (b) The balance of the proceeds of the 1986 Bonds, togethe with moneys appropriated in the County's General Fund to pay on June 15, 1986 (i) the principal of the 1982 Bonds maturing on June 15, 1986, and (ii) the interest on the 1982 bonds maturing on June 15 in each of the years 1986 and 1993 to 2003, both inclusive, shall be deposited with the Escrow Agent under the Refunding Trust Agreement and applied as provided therein. SECTION 9. Designation of the 1982 Bonds Maturing On and After June 15, 1993 for Redemption on June 15, 1992. This Board hereby designates the 1982 bonds maturing in the principal amoun of $1,125,000 on June 15 in each of the years 1993 to 2003, both inclusive, for redemption on June 15, 1992, such 1982 Bonds so t be redeemed upon payment of the principal amount of the 1982 Bonds to be redeemed, together with the interest accrued thereon to the date fixed for redemption, plus a premium of one-quarter of one percent (1/4 of 1%) of the principal amount of each 1982 Bond to be redeemed for each twelve (12) month period or part thereof between the date fixed for redemption and the stated maturity date of such 1982 Bond. The County Administrator is hereby authorized and directed to deliver to Bank of Virginia Trust Company, as Escrow Agent under the Refunding Trust Agree- ment, irrevocable written instructions to give notice, in the name and on behalf of the County, to the holders of the 1982 bonds maturing on and after June 15, 1993 of the redemption of such 1982 bonds on June 15, 1992, such notice to be given in the 86-365 manner and at the time or times provided in Section 4 of the resolution adopted by this Board on April 14, 1982 authorizing the issuance of the 1982 Bonds and to be in substantially the form set forth as Exhibit III to the Refunding Trust Agreement. SECTION 10. Covenant As to Compliance with H.R. 3838. The County hereby covenants and agrees to comply with the provisions of H.R. 3838, as passed by the U.S. House of Representatives on December 17, 1985, as modified by the Joint Statement issued on March 14, 1986 by the Chairmen and Ranking Members of the U.S. House of Representatives Committee on Ways and Means and the U.S. Senate Committee on Finance, and the Secretary of the Treasury (the "Joint Statement"), that relate to the 1986 Bonds if and to the extent required to maintain the exemption of interest on the 1986 Bonds from federal income taxation. It is to be understood, however, that the county shall not be required to comply with the provisions of H.R. 3838, as modified by the Joint Statement, to the extent that the County receives an opinion from any nation- ally recognized bond counsel that noncompliance will not cause the interest on the 1986 Bonds to be subject to federal income taxation. SECTION 11. Ratification. The action of the County Admin- istrator and other appropriate officers of the County in negoti- ating the sale of the 1986 Bonds, and all actions and proceeding heretofore taken by this Board, the County Administrator and the other officers, employees, agents and attorneys of the County in connection with the authorization, issuance and sale of the 1986 Bonds, are hereby ratified, confirmed and approved. SECTION 12. Filing of This Resolution. The County Attorney is hereby authorized and directed to file a copy of this resolu- tion, certified by the Clerk of this Board to be a true and correct copy hereof, with the Circuit Court of the County of Chesterfield. SECTION 13. Invalidity of Sections, Paragraphs, Clauses or Provisions. If any section, paragraph, clause or provision of this resolution shall be held invalid or unenforceable for any reason, the invalidity or unenforceability of such section, paragraph, clause or provision shall not affect any of the remaining portions of this resolution. SECTION 14. Headings of Sections. The headings of the sections of this resolution shall be solely for convenience of reference and shall not affect the meaning, construction, inter- pretation or effect of such sections or of this resolution. SECTION 15. Effective Date. This resolution shall take effect upon its adoption. The Board being polled, the vote was as follows: Mr. Dodd - Aye. Mr. Daniel - Aye. Mr. Applegate - Aye. Mrs. Girone - Aye. Mr. Mayes - Aye. 4. PRESENTATION BY THE CITIZENS COMMITTEE FOR CONSIDERATION OF A CHARTER Mr. Dodd turned the meeting over to Mr. J. Royall Robertson, Chairman of the Citizens Committee for Consideration of a Charter. Mr. Robertson expressed special appreciation to Mr. Steve Micas who had worked diligently and unbiased with the group on the charter issue. He also expressed appreciation to the members of the committee who had also worked on this issue. Mr. Robertson outlined the report and several members of the Committee 1% explained in detail the 10 major issues they had concern about which were: 1. Responsibilities and Powers of the Board of Supervisors; 2. Role of the Chairman; 3. Role of the County Administrator; 4. Financial Affairs; 5. Borrowing; 6. Police Department; 7. Departments of Health, Social Services, Mental Health and Mental Retardation; 8. Planning; 9. Education; and 10. Transportation. There was some discussion regarding when a charter should become effective if adopted by the voters, and it was determined that January 1, 1988 would be appropriate. There was further discussion regarding two consecutive terms of School Board members, the accountability of elected officials, powers being shifted to the County Administrator, the budget if not adopted as outlined, compensation for Board members, who is responsible for finances of County affairs which Mr. Micas indicated he would adjust, size of the Board, etc. When asked by Mr. Daniel, the Committee unanimously indicated the draft Charter does not transfer any powers to the County Administrator which do not currently exist. It was indicated the Committee was unanimous in their recommendation but, of course, some of these recommendations could be amended. A copy of the proposed charter as drafted as well as the full report of the Committee is filed with the papers of this Board. Mr. Hank Richardson, President of the Chesterfield Business Council, was present. He stated the Council had read the proposal but did not send comments, he felt the Committee did an excellent job and they do see positive aspects and they would like to review it more thoroughly. The Board expressed their appreciation to the Committee members for their outstanding work. 5. ADJOURNMENT On motion of Mrs. Girone, seconded by Mr. Daniel, the Board adjourned at 9:30 p.m. until 9:00 a.m. on May 28, 1986. Vote: Unanimous Richard L. Hedrick County Administrator 1`r ` R. Garland D Chairman 86-367