Fauquier supervisors authorize $31.2 million EDA financing for schools, judicial center and safety equipment

The Fauquier County Board of Supervisors approved a financing plan totaling $31,200,000 on Oct. 19 to fund school renovations, design work for a judicial center, and public-safety equipment.

County staff presented the proposal, saying the financing would be issued by the Economic Development Authority through one or more series of revenue obligations. The package covers final work on the Taylor Middle School renovation, initial design for a judicial center, upgrades to public-safety radio systems for the sheriff’s office and fire/rescue, and new self-contained breathing apparatus for fire personnel. Staff noted the county's recent triple-A credit ratings and that Davenport Public Finance had provided a detailed briefing earlier in the day.

A supervisor moved to adopt the resolution authorizing the financing plan. Supervisor (speaker 12) announced a recusal from the vote, citing professional licensing and regulatory reasons; that supervisor did not participate. The board adopted the resolution by voice vote; staff recorded one abstention.

The resolution authorizes the county administrator and the Economic Development Authority to finalize issuance details and to proceed with required steps to place the obligations in the market. Staff said the plan is designed to take advantage of favorable interest rates tied to the county’s credit ratings.

No speaker during citizens time opposed the financing plan. County staff said additional details had been presented by the county’s financial advisor earlier and that staff were available to follow up on questions about timing or structure.