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HomeMy WebLinkAbout8/18/2026 - Public Hearing 1 Vinton Town Council Regular Meeting Council Chambers 311 South Pollard Street Tuesday, August 18, 2026 AGENDA Consideration of: A. 6:00 p.m. - ROLL CALL AND ESTABLISHMENT OF A QUORUM AND CITIZEN GUIDELINES B. MOMENT OF SILENCE AND PLEDGE OF ALLEGIANCE TO THE U.S. FLAG C. COMMUNITY EVENTS/ANNOUNCEMENTS/COUNCIL ACTIVITIES D. REQUESTS TO POSTPONE, ADD TO, OR CHANGE THE ORDER OF AGENDA ITEMS E. CONSENT AGENDA 1. Consider a motion to approve the minutes of the Regular Meeting on July 21, 2026. F. AWARDS, INTRODUCTIONS, PRESENTATIONS, PROCLAMATIONS 1. Bluebell Award with American Planning Association: Virginia Chapter – Nathan McClung, Assistant Director for Planning and Zoning G. CITIZENS’ COMMENTS AND PETITIONS - This section is reserved for comments and questions for issues not listed on the agenda. H. BRIEFINGS I. ITEMS REQUIRING ACTION 1. Consider a motion to adopt a Resolution to adopt the new changes in the Town of Vinton Employee Handbook – Donna Collins, Director of Human Resources/Risk Management 2. Consider a Resolution to contract with TACS to collect delinquent taxes. – Tiffany Stewart, Director of Finance Bradley E. Grose, Mayor Laurie J. Mullins, Vice Mayor Keith N. Liles, Council Member Sabrina M. McCarty, Council Member Michael W. Stovall, Council Member Vinton Municipal Building 311 South Pollard Street Vinton, VA 24179 (540) 983-0607 2 J. PUBLIC HEARING 1. Consider public comments regarding issuance of a general obligation bond of the Town of Vinton in a principal amount not to exceed $2,500,000 and providing the form, details and payment of the bond and authorizing certain actions. a. Open Public Hearing • Report from Staff – Cody Sexton, Deputy Town Manager • Receive public comments • Council discussion and questions b. Close Public Hearing c. Consider a motion to adopt a Resolution to authorize the issuance of a general obligation bond of the Town of Vinton in a principal amount not to exceed $2,500,000 and providing the form, details and payment of the bond and authorizing certain actions. K. REPORTS FROM COMMITTEES 1. Finance Committee – Tiffany Stewart, Director of Finance a. Consider a motion to approve Financial Statements for July 31, 2026. 2. Community Development Committee – Nathan McClung, Assistant Director of Planning and Zoning L. APPOINTMENTS TO BOARDS/COMMISSIONS/COMMITTEES M. TOWN ATTORNEY N. TOWN MANAGER’S PROJECT UPDATES/COMMENTS O. COUNCIL AND MAYOR P. ADJOURNMENT NEXT COMMITTEE/TOWN COUNCIL MEETINGS AND TOWN EVENTS: September 1, 2026 – 4:00 p.m. – Joint Work Session with Town Council and Planning Commission – TOV Chamber September 1, 2026 – 6:00 p.m. – Regular Council Meeting – TOV Chamber September 7, 2026 – Town Offices will be closed in observance of Labor Day September 9, 2026 – 10:30 a.m. – Public Works Committee Meeting – TOV Chamber September 15, 2026 – 6:00 p.m. – Regular Council Meeting – TOV Chamber NOTICE OF INTENT TO COMPLY WITH THE AMERICANS WITH DISABILITIES ACT. Reasonable efforts will be made to provide assistance or special arrangements to qualified individuals with disabilities in order to participate in or attend Town Council meetings. Please call (540) 983 -0607 at least 48 hours prior to the meeting date so that proper arrangements may be made. Meeting Date August 18, 2026 Department Council Issue Minutes from the Regular Meeting of July 21, 2026 Attachments Minutes Recommendations Consider a motion to approve the consent agenda as presented with the Regular Meeting minutes of July 21, 2026. Town Council Agenda Summary 1 MINUTES OF A REGULAR MEETING OF THE VINTON TOWN COUNCIL HELD AT 6:00 P.M. ON TUESDAY, JULY 21, 2026, IN THE COUNCIL CHAMBERS OF THE VINTON MUNICIPAL BUILDING LOCATED AT 311 SOUTH POLLARD STREET, VINTON, VIRGINIA MEMBERS PRESENT: Bradley E. Grose, Mayor Laurie J. Mullins, Vice Mayor Keith N. Liles Sabrina M. McCarty Michael W. Stovall STAFF PRESENT: Richard Peters, Town Manager Cody Sexton, Deputy Town Manager Megan Lawless, Town Clerk Jeremy Carroll, Town Attorney Tim Lawless, Deputy Chief of Police Myke Caldwell, Lieutenant Sean McKittrick, Community Services Officer Tiffany Stewart, Director of Finance Kimberley Ramsey, Town Treasurer Leigh Phillips, Senior Treasury Administrator Jill Acker, Interim Director of Public Works Administration Mandy Adkins, Director of Cultural Placemaking and Events Morgan Poplawski, Manager of Guest Experiences and Events Mayor Grose called the meeting to order at 6:00 p.m. The Town Clerk called the roll with Council Member Liles, Council Member McCarty, Council Member Stovall, Vice Mayor Mullins, Grose present. After a Moment of Silence,Council Member Liles led the Pledge of Allegiance. Announcements, and Council Activities, Council Member McCarty announced the following events: July 25 – Mingle at the Market with Abbey & Andy Neikirk & Gasoline Alley from 7:00 p.m. until 10:00 p.m. August 4 – National Night Out with Vinton Police Department from 6:00 p.m. until 8:00 p.m. at the Farmers’ Market. August 8 – Mingle at the Market with Five Dollar Shake from 7:00 p.m. until 10:00 p.m. Vice Mayor Mullins announced the following Council activities: July 8 – Mayor Grose attended the Regional 2 July 14 – Council Member Liles attended the VML CEDS Committee meeting. July 15 – Vice Mayor Mullins and Council Member McCarty attended the Public Works Committee meeting. July 21 – Mayor Grose and Council Member Stovall attended the Finance Committee meeting. Requests to postpone, add to or change the order of agenda items, no requests were offered. Council Member Stovall made a motion to approve the Consent Agenda as presented; the motion was seconded by Vice Mayor Mullins and voting: Vote 5-0; Yeas (5) – Liles, McCarty, Stovall, Mullins, Grose; Nays (0) – None. 7, 2026. Under Awards, Introductions, Presentations, Mrs. Ramsey introduced Mrs. Leigh Phillips, Senior Treasury Administrator, Vinton with 18 years of financial experience from Botetourt County Public Schools Administration. Under Awards, Introductions, Presentations, Mrs. Adkins introduced Miss Morgan Poplawski, Manager of Guest Experiences and Events, who joins us with an extensive background in wedding and event planning from Harrisonburg. Under Awards, Introductions, Presentations, Deputy Chief Lawless introduced Officer McKittrick community policing and public engagement. Under Citizens’ Comments and Petitions, no comments were offered. Under Briefings, update Employee Handbook. Section 4 – Safety and Security: added Emergency Closure Policy to provide guidance to staff when conditions for inclement weather or another 3 concerning safety when returning to the office when it reopens. If the employee has the ability to work remote, it is expected he or she work. If the employee does not have the ability to work remote or the employee chooses not work remote, he or she must use some form of leave. Essential and non-essential personnel were defined. ensure compliant prescription safety glasses, to maintain workplace. The Town will provide up to $200 every two years on approved prescription safety frames and lenses that meet ANSI Z87.1 standards. Section 6 – Pay Practices: this update clarifies the pay practices that the Town currently has. The temporary tax deduction for the half of percent of the overtime premium. The One Big Beautiful Bill allows a Federal income tax deduction for qualified overtime compensation. The tracking requirement took effect January 1, 2026. Some leave types under the OBBA do not qualify Awarded Leave, and Voluntary Leave. taxes. A clause for Discretionary Time was also added to employees who are paid for the job that they do rather than non-exempt employees who are paid by the hour for the work that they do. Discretionary Time can be used up to eight hours internally. It cannot be used in place of Paid Time Off therefore an employee cannot use 40 hours of discretionary time for a full week off. Last, it cannot be used continuously without using Paid Time Off. A Remote Work policy was also added to Section 6. Remote W positions if the job duties allow for it, but there was 4 This policy explains the requirement of covering operational needs and the need for approval from the department head. Remote Work capability can be changed at any time as it is not entitlement to work remotely. The employee must stay accessible Acknowledgement form must be on file. Section 7 – Time Off maximum payout that an when his or her employment ends, Paid Time Off amounts are based on the Virginia Retirement Plan of the employee, Hybrid. shared appreciation for the briefing. Action to adopt this policy will take place at the next Town Council meeting on August 18, 2026. Under Items Requiring Action, Lawless Chapter 82: Streets, Sidewalks, and other Public Places of the Vinton Town Code. It was requested to add Article VII, Use of Town Parks and Trails 82- 210 and 82-211, to the Vinton Town Code. Article VII outlines the supervision and management of all the public parks, trails, and greenways under the Town Manager and provides a list of prohibited conduct. There were no questions or comments offered. Council Member Liles approve the Ordinance as presented; the motion was seconded by Council Member McCarty and voting: Vote 5-0; Yeas (5) – Liles, McCarty, Stovall, Mullins, Grose; Nays (0) – None. Under Items Requiring Action, Lieutenant Caldwell remaining upon the property. Chapter 82: Streets, Sidewalks, and other Public Places of the Vinton Town Code by adding Article VII: Use of Town Parks and Trails, 82-210 and 82-211. 5 A PowerPoint presentation was shared with Town Council. A copy of this presentation is on file at the record. It was noted by the Town Attorney that the effective date will be immediately. There were no comments or questions. Council Member McCarty approve the Ordinance as presented; the motion was seconded by Vice Mayor Mullins and carried by the following vote, with all members voting: Vote 5-0; Yeas (5) – Grose; Nays (0) – None. Under Items Requiring Action, presented an Ordinance to authorize a Temporary Cash Transaction Rounding Policy. It was noted that this will remain inactive until the penny supply Ordinance is expected in July 2027, pending action by the Virginia General Assembly. There were no comments or questions. Council Member Stovall approve the Ordinance as presented; the motion was seconded by Council Member Liles and voting: Vote 5-0; Yeas (5) – Liles, McCarty, Stovall, Mullins, Grose; Nays (0) – None. Under Public Hearing, there were no items. Under Reports from Committees, Mrs. Acker provided a briefing on the topics that were discussed at the Public Works Committee meeting on July 15, 2026. The existing projects included: repair. project is making great progress. The waterline will extension will help with water supply at Billy Byrd Apartments and the surrounding area. Approved Ordinance No. 1079 to permit individuals who are in charge of real property to person lawfully in charge of the property for the remaining upon the property. Temporary Cash Transaction Rounding Policy. 6 The Public Works Department completed five large road repairs last month. The staff shoveled and raked 76.5 tons of asphalt. The roads included S. Maple Street, Vinyard Road at Bojangles, Vinyard Road at Autozone, Ruddell Road, and then 1St Street at Cleveland Avenue. New projects included: There are other road repairs that are larger than what the Public Works Department can take on, so Madison Avenue will be repaired. Other areas will be evaluated for repairs as well. Mr. Peters shared that a citizen requested a 4-way Street. Traffic studies and consultants show that it is not feasible to install a 4- Public Works Committee discussed other options to help with traffic and speed such as rumble strips, options. It was decided by the committee to install speed control devices will be implemented. The next item discussed was the storm ditch repair on Claiborne Avenu determined this was an emergency repair due to the ditch being filled with sediment and trees. completed to meet VDOT specifications. Lastly, the committee discussed staffing within the positions include two permanent positions and two seasonal positions. The Public Works Department has ordered a new dump truck with a spreader and plow. The goal is to have it back by the end of September or the first of October after it is outfitted. Staff are looking to purchase a new kuckleboom truck and a one-ton dump truck. All Council Members 7 Under Reports from Committees, Mrs. Stewart provided July 21, 2026. Mrs. Stewart reported on the May 31, 2026, and June 30, 2026, Financial Statements. The May Financial Statements showed the operating cash and investments at a total of $9.3 property tax collection. There was a 7% increase in meals tax over April as well. In addition expenditure month. The June Financial Statements had the operating cash and investments at a total of $8.5 million. This is a 9% decrease from May. While $305,000 were taxes, the Town had large expenditures on paving, Gish Mill project reimbursement, and expenses for the Vinton War Memorial renovation. Also discussed in the Finance Committee meeting on July 21 was the year- year between 90% and 103% of budget spent. There was an in-depth audit discussion with Brown Edwards on the FY2024 Schedule of Expenditures discussions of the FY2024 audit. Next, Mr. Sexton shared details on the Request for Carter Bank, discussing each proposal, the Finance Committee presentation of a R Council meeting on August 18, 2026. There were no comments or questions. Council Member Stovall approve the Financial Statements for May 31 and Approved the Financial Statements for May 31 and June 30, 2026. 8 June 30, 2026; the motion was seconded by Council Member Liles and carried by the following vote, with all members voting: Vote 5-0; Yeas (5) – Liles, McCarty, Stovall, Mullins, Grose; Nays (0) – None. Under Appointments to Boards, Commissions, and Committees, Mrs. Lawless shared that the Second Amended and Restated Intergovernmental Greenway was adopted on July 7, 2026. Roanoke Valley- is responsible for carrying out the work, through its own forces or through contractors or partners and planning, supporting, coordinating and community engagement with the Greenway System. Council was Greenway Committee under this new agreement. Staff recommended appointed for a three-year term beginning July 1, 2026, and ending on June 30, 2029. Janet Scheid Arthur (Bud) LaRoche Staff are working towards filling the third position. Council Member McCarty made a motion to appoint the members as presented; the motion was seconded by Council Member Liles and carried by the following vote, with all members voting: Vote 5- 0; Yeas (5) – Grose; Nays (0) – None. Appointed Janet Scheid and Arthur LaRoche to Roanoke Valley Greenway for a three-year term beginning July 1, 2026, and ending on June 30, 2029. Under Town Attorney, no comments were offered. Under Town Manager’s Projects Updates, Mr. Peters shared that Council Member McCarty for the vacant position on the Greenway Committee. Staff will follow up with this potential candidate. He reminded Council of a few items coming up: National Night Out is August 4, 2026. 9 Town Council Work Session is at 4:00 p.m. on August 18, 2026. Joint Work Session with the Planning Commission is September 1, 2026. The Town Council meeting scheduled for October 20, 2026, has been cancelled. This cancellation is due to administrative staff being out of the office for work-related training. position has been posted within the Planning and Zoning Department. 2026. This open house is hosted by the two owners of Gish Mill. The goal of the Open House is to seek event. The Cedar Avenue and Pollard Street storm water project is going well. The road will be closed for a few more days. Lastly, he shared that Council, and a group of staff members will be attending the American Planning Association: Virginia Chapter luncheon to receive the Comp Plan of the Year award for population of up to 100,000. Under Council and Mayor Comments, all Council Members expressed their appreciation for Ms. Collins and the card that she gave. Council Member Stovall commented on the status of the Town and said that it is due to the staff and the work that gets put in. He then clarified the misconception that Rosie's "runs the Town." While revenue base. Meals tax continues to be one of the revenue. things going on in the Town. new staff. She then gave a shoutout to Woods Auto Service. 10 Vinton, and he is looking forward to National Night Out. He Farmers’ Market. Lastly, he welcomed new staff. Mayor Grose welcomed the spoke about the Good Morning VBR series where localities gather every other month to share what is going on in their community. He complimented the staff who participated in this series. He continued by complimenting how well things are going in the Town. No further comments were offered. Vice Mayor Mullins made a motion to adjourn the meeting; the motion was seconded by Council Member McCarty and carried by the following vote 5-0; Yeas (5) – Liles, Grose; Nays (0) – None. ATTEST: _______________________________ Megan Lawless, Town Clerk Meeting Adjourned at 7:07 p.m. APPROVED: _______________________________ Bradley E. Grose, Mayor Meeting Date August 18, 2026 Department Planning and Zoning Issue Recognition of Anita McMillan, Planning & Zoning Director, for winning the Virginia Chapter of the American Planning Association’s (APA Virginia) 2026 Bluebell Award – Virginia’s Equity and Inclusion Advocate of the Year. Summary The Virginia Chapter of the American Planning Association (APA Virginia) announced that Anita McMillan was the winner of the 2026 Bluebell Award, which recognizes Virginia’s Equity and Inclusion Advocate of the Year. The Bluebell Award recognizes an individual who exemplifies community‑driven, inclusive, and equitable planning practices that strengthen opportunity and quality of life across the Commonwealth. For more than three decades, Ms. McMillan has demonstrated that equitable planning is achieved through sustained commitment, intentional investment, and a focus on the needs of residents who have historically faced barriers to opportunity. Ms. McMillan has approached these challenges with a steadfast equity‑first mindset and spent the past 30 years quietly transforming the town’s trajectory through numerous physical improvement projects and building public trust through collaborative leadership, regional engagement, and mentorship. By turning long‑range community goals into tangible results, she has demonstrated the value of planning while inspiring future professionals and fostering a culture of inclusion within the planning field. The award was presented at the Chapter’s Annual Conference on July 28, 2026, in Danville, VA. Attachment None Recommendations No action needed Town Council Agenda Summary 1 Meeting Date August 18, 2026 Department Human Resources & Risk Management Issue Changes to the Employee Handbook Summary Donna Collins, Director of Human Resources & Risk Management, presented a draft of the proposed changes of the Employee Handbook at the Town Council meeting on July 21, 2026. Changes to the policy are within the Inclement Weather policy, Remote Work policy, and Use of Discretionary Time policy. Attachments Resolution Recommendations Consider a motion to adopt a Resolution to accept the changes as presented on July 21, 2026. Town Council Agenda Summary RESOLUTION NO. AT A REGULAR MEETING OF THE VINTON TOWN COUNCIL HELD ON TUESDAY, AUGUST 18, 2026, AT 6:00 P.M., IN THE COUNCIL CHAMBERS OF THE VINTON MUNICIPAL BUILDING, LOCATED AT 3ll S. POLLARD STREET, VINTON, VIRGINIA. WHEREAS §15.2-1506 of the Code of Virginia requires that every locality which has more than fifteen employees shall have a grievance procedure and a personnel system; and WHEREAS, on August 18, 2020, Vinton Town Council adopted the Employee Handbook by Resolution No. 2374; and WHEREAS, said Employee Handbook has been updated based on feedback from Town Staff and the Town Attorney has examined the proposed updates to the Handbook and has certified that all legal requirements have been met; and WHEREAS, Council was furnished a copy of the proposed updates of the Employee Handbook and briefed at their July 21, 2026, Council Meeting. NOW, THEREFORE, BE IT RESOLVED by the Vinton Town Council as follows: 1. The aforesaid updated Employee Handbook of the Town of Vinton is hereby adopted and shall be effective from this date until amended or revoked by further resolution of Council. 2. Each employee of the Town of Vinton shall be furnished a copy of the updates to the Employee Handbook along with a copy of this Resolution included therein. This Resolution adopted on motion made by, seconded by with the following votes recorded: AYES: NAYS: APPROVED: Bradley E. Grose, Mayor ATTEST: _____________________________________ Megan Lawless, Town Clerk Meeting Date August 18, 2026 Department Finance/Treasurer Issue Consideration of a resolution approving a contract with Taxing Authority Consulting Services, PC (TACS) for the collection of delinquent tax accounts including but not limited to real estate taxes, personal property taxes and trust taxes. The Code of Virginia allows for such and allows for the payment of attorney’s or collection agency fees not to exceed twenty (20) percent of the taxes or other charges collected. Summary The Town of Vinton Treasurer has identified a need to contract with an outside entity for the collection of delinquent tax accounts including but not limited to real estate taxes, personal property taxes and trust taxes. In order to do so, council must approve of such, acknowledging a 20% fee as set forth in Vinton Virginia Code of Ordinances Sec. 86-2 Payment of Administrative Cost and Attorney Fees. This collection fee is added directly to the account balance and paid by the delinquent taxpayer directly to TACS to cover all reasonable attorney's and collection agency's fees. The Code of Virginia § 58.1-3934 allows Virginia governing bodies to appoint or hire, with the approval of the treasurer and upon such terms as may be agreed upon, one or more attorneys to collect any local taxes or other charges which may have been delinquent for six months or more. The Code of Virginia § 58.1-3958 further allows for the payment of attorney’s or collection agency fees not to exceed twenty (20) percent of the taxes or other charges collected. The Code of the Town of Vinton Sec 86-2 allows in the event any tax assessed in this chapter is not paid on or before the date the same is due and the tax bill is declared delinquent, administrative costs and reasonable attorney's or collection agency's fees shall be assessed at a rate not to exceed 20 percent of the delinquent tax bill. Such administrative costs shall be in addition to all penalties and interest, and shall not exceed $20.00 for taxes collected subsequent to the filing of a warrant or other legal document but prior to judgment, and $25.00 for taxes collected subsequent to judgment. Attorney's fees shall be added only if such delinquency is collected by action at law or suit in equity. No tax assessment or tax bill shall be deemed delinquent and subject to collection procedures during the pendency of any administrative appeal under the Code of Virginia, § 58.1-3980, so long as the appeal is Town Council Agenda Summary filed within 90 days of the date of assessment, and for 30 days after the date of the final determination of the appeal. The fees imposed for informal collection efforts are chargeable against the delinquent taxpayer, so there is no fiscal impact to the Town. In the event litigation is pursued by TACS for the collection of certain delinquent accounts, there may be up-front costs associated in the litigation process incurred by the Town of Vinton. Such fees would be recovered from the delinquent taxpayer by TACS to offset fees paid retroactively by the Town. Attachments Contract Resolution Recommendations Motion to adopt Resolution Legal Services Agreement – Delinquent Tax Collection 1 of 4 LEGAL SERVICES AGREEMENT Delinquent Tax Collection This AGREEMENT is made and entered into by and between TAXING AUTHORITY CONSULTING SERVICES, PC (hereinafter “TACS”), and _________________________ (hereinafter “LOCALITY”), together, the “Parties”, pursuant to Code of Virginia §§ 58.1-3934 and/or 58.1-3966. 1. SCOPE OF REPRESENTATION LOCALITY hereby retains TACS to assist with the collection of certain accounts as its attorney and undertaking such work shall constitute an attorney-client relationship. TACS shall have full authority to perform all acts necessary to effect the collection of the accounts (the “Legal Services”), is designated as an official authorized to collect taxes for the locality, and is authorized to receive payments made on the accounts and to endorse LOCALITY’S name on any checks or other negotiable instruments that may be received in payment on the accounts; to arrange for payments under such terms as TACS deems appropriate for any account; to commence a lawsuit on behalf of LOCALITY; and to use all other necessary legal or administrative tools authorized by law for the recovery of the accounts. 2. LOCALITY RESPONSIBILITIES Upon assignment of the accounts to TACS, LOCALITY will provide TACS with information reasonably necessary for TACS to perform the Legal Services. LOCALITY represents and warrants to TACS that (a) the account information provided to TACS and the account balances are accurate and complete; (b) LOCALITY has not received notification that any of the account debtors are in bankruptcy and will immediately notify TACS if it receives notification of a bankruptcy filing by any of the account debtors; (c) all add-on charges such as interest, late fees and collection fees are just and owing and authorized by applicable law, by contract or both; (d) LOCALITY will promptly notify TACS of any adjustments or corrections made to the amount due; (e) any previous collection agency/attorney engaged for the collection of the accounts has been instructed to cease and desist contact with the account debtor; (f) the Statute of Limitations on collection of the account has not run; and (g) upon notification by TACS of a dispute or request for verification of information with respect to any account, LOCALITY will promptly furnish TACS such information. LOCALITY shall provide regular and periodic update files (or data) on an agreed basis to reasonably maintain appropriate account balances with TACS. LOCALITY shall refer new accounts that are eligible for turnover on no less than an annual basis. LOCALITY shall report payments made by debtors directly to LOCALITY on a timely basis that the LOCALITY deposits in its bank. These payments will show on a remittance statement to TACS as payments made directly to the LOCALITY and the TACS fee will be charged, collected, and remitted or handled as otherwise agreed. The LOCALITY may also choose to forward any payments received from the debtor to TACS for deposit and posting. LOCALITY understands and agrees that if it takes any payments directly on accounts that have been referred to TACS without TACS’s fee, such fee will be invoiced to LOCALITY, unless otherwise agreed. Docusign Envelope ID: DDC71F4F-2980-847B-82A9-AEC413FB4FA4 TOWN OF VINTON TOWN OF VINTON 8/13/2026 | 2:26 PM EDT Legal Services Agreement – Delinquent Tax Collection 2 of 4 3. TACS RESPONSIBILITIES TACS shall perform all responsibilities under this Agreement as LOCALITY’s Attorney-in-fact. TACS shall accept account referrals from the LOCALITY in a mutually acceptable format via file transfer or will provide LOCALITY with a template to be completed with the necessary data fields. TACS shall ensure that its collection system for processing accounts and its reports are compatible with the LOCALITY’S method of account referral and necessary accounting. TACS will prepare a weekly Remittance Report listing the account name, account number, credits to the accounts (for accounts involving litigation, recovered costs), total amount collected, and TACS fees associated with the collections. TACS shall remit collected funds to LOCALITY on a weekly basis on a slight delay to permit such funds to clear through the banking system. TACS shall deposit all funds collected in an attorney trust account. TACS will prepare a report quarterly, or on a more frequent basis if otherwise agreed, of the overall collections with details about the litigation status of the parcels. TACS will prepare other such reports as may be reasonably requested by the LOCALITY. 4. FEES FOR SERVICES The Parties agree that TACS shall be entitled to receive a fee of 20% of any collected account balances, save and except that TACS shall not be paid for collection of account balances achieved through the state set off debt program. For accounts that proceed to a real estate tax litigation, or through the non-judicial tax sale process, TACS’s fee shall be as follows: a. A fee of 25% of the collected balances subsequent to filing suit, or where the property is being sold by non-judicial sale; b. If appointed as Special Commissioner of Sale, the fee shall be the greater of 25% of all collected account balances due or the statutory fee permitted the Commissioner of Sale. c. Properties which are sold at a delinquent tax auction shall be subject to a minimum legal services fee of $2,500.00 provided funds are available after the payment of all taxes and costs of sale. d. Properties which are sold pursuant to Code of Virginia § 58.1-3975 at a non-judicial sale shall be subject to a minimum legal services fee of $750.00 provided funds are available after the payment of all taxes and costs of sale. e. Notwithstanding the foregoing, the LOCALITY may elect not to pursue certain parcels to tax sale on account of the costs involved. f. TACS may also be retained to act as the agent of LOCALITY to hold excess funds from non- judicial sales for an additional fee which can be adopted as an Addendum to this Agreement. 5. COSTS OF LITIGATION AND OTHER COLLECTION EFFORTS LOCALITY understands that certain costs will be incurred in the process of litigation, conducting judicial or non-judicial sales of properties subject to delinquent real estate taxes, and in the performance Docusign Envelope ID: DDC71F4F-2980-847B-82A9-AEC413FB4FA4 TOWN OF VINTON 8/13/2026 | 2:26 PM EDT Legal Services Agreement – Delinquent Tax Collection 3 of 4 of other collection efforts made on behalf of the LOCALITY. Anticipated costs include, but are not limited to, title research, appraisals, auction services, surveys, court costs or service fees, publication costs and guardian ad litem fees that are ultimately the responsibility of the LOCALITY to pay. Such costs shall be accounted for and paid to LOCALITY first prior to any proration of recovered funds. In the event another jurisdiction (for example a COUNTY) is also seeking to collect delinquent taxes in the same action, TACS may opt to bill the full expenses to LOCALITY for ease of administration. In the event the Costs are not fully recovered from redemption or sale (and remitted to LOCALITY), TACS shall bill COUNTY for their pro rata portion of the costs and will return them to the LOCALITY. LOCALITY acknowledges that TACS may elect to perform any services required in the collection of delinquent accounts, including, but not limited to title research, appraisals and auction services with its own employees or subsidiaries and may be reasonably compensated for such services performed. It is agreed that TACS shall receive payment of any unreimbursed costs incurred resulting from the litigation or collection efforts undertaken for LOCALITY. 6. OTHER TERMS The Parties shall comply with all applicable Federal, State, and local laws, rules, regulations, ordinances, and directives, and all provisions required thereby to be included in this Agreement are hereby incorporated herein by reference. This Agreement shall be governed by, and construed in accordance with, the laws of the Commonwealth of Virginia. If any provision of this Agreement or the application thereof to any person or circumstance is held invalid, the remainder of this Agreement and the application of such provision to other persons or circumstances shall not be affected thereby. LOCALITY acknowledges that TACS may represent other governmental entities and hereby consents to such representation of other governmental entities that may also be seeking payment from the same debtor. If TACS recovers payment from a debtor indebted to two or more client entities, such payment will be divided pro rata between or among the client entities unless otherwise dictated by the debtor. The Parties acknowledge that other services may be desired and agree that such services may be added to this Agreement when such services are defined. Such new work, prior to being initiated, shall be specified in writing as mutually agreed to between the Parties. TACS understands and acknowledges that in representing the LOCALITY it will be privy to confidential information concerning taxpayers, their tax obligations, and their property. TACS shall not use any information so provided other than for the purposes of this Legal Services Agreement and shall be bound to keep such information confidential pursuant to the terms of Virginia Code § 58.1-3. This agreement shall remain in full force and effect until canceled or revoked by either party, upon 30 days written notice. If cancelled, TACS shall be entitled to recovery of any costs expended on LOCALITY’s behalf in accordance with this Agreement, as well as reasonable attorney fees to cover its services. Docusign Envelope ID: DDC71F4F-2980-847B-82A9-AEC413FB4FA4 TOWN OF VINTON 8/13/2026 | 2:26 PM EDT Legal Services Agreement – Delinquent Tax Collection 4 of 4 The terms of this Agreement shall constitute the complete and exclusive statement of understanding between the Parties relating to the subject matter of this Agreement. IN WITNESS WHEREOF, both Parties have caused this Legal Services Agreement to be signed by their duly authorized representatives on the date set forth below. TACS, P.C. ______________________________________ ______________________________________ Print Name Print Name ______________________________________ ______________________________________ Title Title ______________________________________ ______________________________________ Signature Signature _______________________ _______________________ Date Date Docusign Envelope ID: DDC71F4F-2980-847B-82A9-AEC413FB4FA4 Town ManagerPartner TOWN OF VINTON TOWN OF VINTON Richard W. Peters Jr 8/13/2026 | 2:20 PM EDT Andrew Neville 8/13/2026 | 2:26 PM EDT 8/13/2026 | 2:26 PM EDT 1 RESOLUTION NO. AT A REGULAR MEETING OF THE VINTON TOWN COUNCIL, HELD ON TUESDAY, AUGUST 18, 2026, AT 6:00 P.M., IN THE COUNCIL CHAMBERS OF THE VINTON MUNICIPAL BUILDING, 311 SOUTH POLLARD STREET, VINTON, VIRGINIA, 24179. A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF VINTON, VIRGINIA, APPROVING A CONTRACT WITH TAXING AUTHORITY CONSULTING SERVICES, PC (TACS) FOR THE COLLECTION OF DELINQUENT LOCAL TAXES AND ACCOUNTS AND RATIFYING THE TOWN MANAGER’S EXECUTION OF A CONTRACT WITH TACS WHEREAS, the Town of Vinton is dedicated to maintaining the financial integrity, equity, and fiscal responsibility of its local government operations; and WHEREAS, the collection of delinquent real estate taxes, personal property taxes, trust taxes, and other municipal accounts is necessary to ensure all citizens contribute fairly to public services; and WHEREAS, Section 58.1-3956 of the Code of Virginia authorizes local governing bodies to employ private collection agents or attorneys to assist with the collection of delinquent local taxes and revenues; and WHEREAS, Taxing Authority Consulting Services, PC (TACS) specializes in providing comprehensive debt collection, legal, and asset-recovery services tailored specifically to Virginia municipalities; and WHEREAS, partnering with TACS will allow the Town of Vinton to efficiently recover delinquent public funds utilizing advanced data matching, administrative remedies, and legal collection tools without exhausting internal administrative staff resources; and WHEREAS, the costs associated with the collection services provided by TACS are designed to be largely offset by the collection fees assessed directly against the delinquent accounts, as authorized by Virginia law, minimizing the net fiscal impact on the Town's operating budget; NOW, THEREFORE, BE IT RESOLVED that the Vinton Town Council approves the establishment of a professional collaboration and contract for debt collection services with Taxing Authority Consulting Services, PC (TACS); and BE IT FURTHER RESOLVED that the Vinton Town Council approves the contract dated August 13, 2026, between the Town and Taxing Authority Consulting Services PC (TACS) for the collection of delinquent taxes and other accounts owed to the Town and ratifies the Town Manager’s execution of that contract on August 13, 2026; and 2 BE IT FURTHER RESOLVED that the Vinton Town Council authorizes and directs the Town Treasurer, or her designee, to take all necessary logistical and administrative actions to securely transfer data concerning delinquent taxes and other accounts to TACS and to take such other actions as she, after consultation with the Town Manager, deems necessary to carry out the purposes of this resolution. This Resolution adopted on motion made by_____, seconded by______, with the following votes recorded: AYES: NAYS: APPROVED:________________________ ATTEST:__________________ Bradley E. Grose, Mayor Megan K. Lawless, Town Clerk Meeting Date August 18, 2026 Department Administration Issue Issuance of a general obligation bond of the Town of Vinton in a principal amount not to exceed $2,500,000 and providing for the form, details and payment of the bond and authorizing certain related actions. Summary The Town is authorized to borrow money in order to finance capital improvements to property of the Town. Town Council and staff have identified the Vinton War Memorial as a notable and integral part of the community and have sought to make it a premier venue and public space not just for Vinton but for the Roanoke Valley. At the direction of Town Council , staff have initiated renovations of the Vinton War Memorial which are effectively underway and anticipated to be complete in late 2026. The Town solicited proposals from financial institutions and received a proposal from the Bank of Botetourt. Town Council’s Finance Committee have determined the proposal to meet specifications of the Request for Proposals and to be in the best interests of the Town. Attachment Resolution Recommendations Conduct a public hearing to receive citizen comments regarding the Vinton War Memorial Bond. Consider a motion to adopt the Resolution authorizing the issuance of said bond. Town Council Agenda Summary 1 RESOLUTION NO. AT A REGULAR MEETING OF THE VINTON TOWN COUNCIL, HELD ON TUESDAY, AUGUST 18, 2026, AT 6:00 P.M., IN THE COUNCIL CHAMBERS OF THE VINTON MUNICIPAL BUILDING, 311 SOUTH POLLARD STREET, VINTON, VIRGINIA 24179. RESOLUTION AUTHORIZING THE ISSUANCE OF A GENERAL OBLIGATION BOND OF THE TOWN OF VINTON IN A PRINCIPAL AMOUNT NOT TO EXCEED $2,500,000 AND PROVIDING FOR THE FORM, DETAILS AND PAYMENT OF THE BOND AND AUTHORIZING CERTAIN RELATED ACTIONS WHEREAS, The Town of Vinton (the “Town”) is a political subdivision of the Commonwealth of Virginia; and, WHEREAS, Town Council and staff have identified the Vinton War Memorial (VWM) as a notable and integral part of the community and have sought to make it a premier venue and public space not just for Vinton but for the Roanoke Valley; and, WHEREAS, at the direction of Town Council, staff have initiated renovations of the VWM, which are actively underway and anticipated to be completed in late 2026; and, WHEREAS, Pursuant to the Public Finance Act of 1991, Chapter 26, Title 15.2, Code of Virginia of 1950, as amended (the “Act”), the Town Council of the Town (the “Town Council”) is authorized to borrow money in order to finance capital improvements to property of the Town; and, WHEREAS, Town Council directed staff to fund the VWM’s renovation project through a combination of local reserve funds and the issuance of debt; and, WHEREAS, the Town Council has solicited proposals from financial institutions and received a proposal from the Bank of Botetourt, a Virginia banking corporation (the “Lender”) to make a loan to the Town to be evidenced by the Town’s bond, in accordance with the terms of a Loan Agreement between the Lender and the Town (the “Loan Agreement”), the form of which has been presented to the Town Council at this meeting; and, WHEREAS, Town staff in consultation with Town Council’s Finance Committee have determined the proposal from Bank of Botetourt to meet the specifications of the Request for Proposals and to be in the best interest of the Town; and, WHEREAS, On August 18, 2026, the Town Council held a public hearing on the proposed issuance of bonds in an estimated maximum, aggregate amount of $2,500,000, to finance capital improvements to the War Memorial of the Town, including grounds and related infrastructure (the “Project”), together with the costs of issuance therefor, in accordance with Section 15.2-2606 of the Act; and, 2 WHEREAS, the funds from the general obligation bond will be used for the ongoing and future expenses of the VWM’s renovation project and for reimbursing the Town in part for expenditures made up to 60 days prior to the closing of the bond; and, NOW, THEREFORE, BE IT RESOLVED that the Vinton Town Council does hereby approve the issuance of a general obligation bond for expenditures associated with the renovation project of the Vinton War Memorial in the amount of $2,500,000.00. BE IT FURTHER RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF VINTON, VIRGINIA: 1. Authorization of Bond and Use of Proceeds. Pursuant to the Constitution of the Commonwealth of Virginia and the Act, the Town Council authorizes the issuance and sale of a general obligation bond of the Town (the “Bond”) to pay costs of capital improvements to water and sewer facilities of the Town and to pay costs of issuing the Bond. To the extent permitted by Section 15.2-2601 of the Act, the Town Council elects to issue the Bond under the provisions of the Act without regard to the requirements, restrictions or other provisions contained in any charter or local or special act. 2. Authorization of Loan Agreement. The Town Council accepts the proposal of the Lender to purchase the Bond on the terms set forth in the Lender’s term sheet. The form of the Loan Agreement as submitted to the Town Council at this meeting is approved. The Chairman and Vice Chairman of the Town Council and the Town Manager of the Town, any of whom may act (each an “Authorized Officer”), are each authorized to execute the Loan Agreement in substantially such form, with such completions, omissions, insertions and changes not inconsistent with this Resolution as may be approved by such official, whose approval shall be evidenced conclusively by the execution and delivery of the Loan Agreement. The issuance and sale of the Bond to the Lender shall be upon the terms and conditions of the Loan Agreement. 3. Bond Details. The Bond shall be issued as a single, fully registered bond designated “General Obligation Bond (War Memorial Project), Series 2026” and shall be numbered R-1. The Town Council authorizes the issuance and sale of the Bond on such terms as shall be satisfactory to the Authorized Officer. Notwithstanding the foregoing: (a) the principal amount of the Bond shall not exceed $2,500,000.00; (b) the Bond shall mature no later than December 31, 2046; and (c) the Bond shall bear interest at a per annum rate not to exceed 5.99%. Subject to the preceding terms, the Town Council further authorizes any Authorized Officer to determine the final terms of the Bond, including purchase price, principal installments, interest rate, interest rate adjustment provisions, maturity date and amortization schedule of the Bond, all of which shall be evidenced by the execution and delivery of the Bond, and no further action shall 3 be necessary on the part of the Town Council so long as such provisions are within the limits prescribed in this Resolution. 4. Payment and Redemption Provisions. The principal of and interest on the Bond shall be payable as set forth in the Bond and the Loan Agreement. The Bond shall be subject to redemption on the terms set forth in the Bond. The principal of and interest on the Bond shall be payable in lawful money of the United States of America. 5. Execution and Form of Bond. The Bond shall be signed by an Authorized Officer, and the Town’s seal or a facsimile of the seal shall be affixed on the Bond and attested by the Clerk of the Town. The Bond shall be issued as a typewritten bond in substantially the following form, with such completions, omissions, insertions and changes not inconsistent with this Resolution as may be approved by the Authorized Officer, whose approval shall be evidenced conclusively by the execution and delivery of the Bond: Interest on this bond is intended by the issuer hereof to be exempt from gross income for federal income tax purposes. REGISTERED DATED DATE R-1 [DATE] UNITED STATES OF AMERICA COMMONWEALTH OF VIRGINIA TOWN OF VINTON $2,500,000 GENERAL OBLIGATION BOND (WAR MEMORIAL PROJECT) SERIES 2026 The TOWN OF VINTON, a political subdivision of the Commonwealth of Virginia (the “Town”), for value received, acknowledges itself indebted and promises to pay to the BANK OF BOTETOURT or its registered assigns or legal representative at the following address: Bank of Botetourt, 410 South Pollard Street, Vinton, Virginia 24179, the principal sum of $2,500,000.00 together with interest hereon until payment in full at the per annum rate of 5.99%, payable as follows: TWO MILLION FIVE HUNDRED THOUSAND AND NO/100 DOLLARS ($2,500,000.00) Beginning on [date], and on the same day of each month thereafter, equal installments of combined principal and interest shall be due and payable. On [date], the entire indebtedness 4 evidenced by this Bond, including all accrued but unpaid interest and all outstanding principal, shall be due and payable in full. There shall be no requirement of presentation and surrender of this Bond by the Bondholder in connection with the payment of such annual installments or semi-annual payments of interest, except with respect to the final such payment. Interest on this Bond shall be computed based on a 360-day year consisting of twelve 30- day months. This bond is subject to early prepayment at the option of the Town in whole or in part, on the due date of any payment hereof, without penalty or prepayment premium, upon payment of the principal amount of this Bond then outstanding and the amount of interest on this Bond accrued to such payment date. Principal of and interest on this Bond are payable by electronic transfer to the Bondholder upon written instructions to the Treasurer of the Town, who has been appointed registrar and paying agent (the “Registrar”) from such Bondholder containing the electronic transfer instructions (which shall be in the continental United States), or by check or draft mailed, to the Bondholder at the address that appears on the registration books kept by the Registrar. Principal of and interest on this Bond shall be payable in lawful money of the United States of America. In case any payment date on this Bond shall not be a Business Day (as defined below), then payment of principal and interest need not be made on such date, but may be made on the next succeeding Business Day, and, if made on such next succeeding Business Day, no additional interest shall accrue for the period after such payment date. “Business Day” means any Monday, Tuesday, Wednesday, Thursday or Friday on which commercial banking institutions generally are open for business in Roanoke, Virginia. This Bond has been authorized by a resolution adopted by the Town Council of the Town on August 18, 2026 (the “Bond Resolution”), and is issued pursuant to the Constitution and the Public Finance Act of 1991 of the Commonwealth of Virginia. Proceeds of this Bond will be used to pay costs of capital improvements to water and sewer facilities of the Town and to pay the issuance and financing costs incurred in issuing this Bond. The Town Council has designated this Bond as a Qualified Tax-Exempt Obligation, as defined in Section 265(b)(3) of the Internal Revenue Code of 1986, as amended. The full faith and credit of the Town are irrevocably pledged for the payment of principal of and interest on this Bond. Unless other funds are lawfully available and appropriated for timely payment of this Bond, the Town Council of the Town 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 Town sufficient to pay when due the principal of and interest on this Bond. Transfer of this Bond may be registered upon the registration books of the Bond Registrar in accordance with the transfer provisions set forth in the Bond Resolution. The Registrar shall treat the Bondholder as the person exclusively entitled to payment of principal of and interest on 5 this Bond and the exercise of all other rights and powers of the Bondholder; provided that the regular installment payments of principal and interest shall be made to the person shown as the owner on the fifteenth day of the month preceding each payment date. All acts, conditions and things required by the Constitution and statutes of the Commonwealth of Virginia to happen, exist or to be performed precedent to and in the issuance of this Bond have happened, exist and have been performed, and this Bond, together with all other indebtedness of the Town, is within every debt and other limitation prescribed by the Constitution and statutes of the Commonwealth of Virginia. IN WITNESS WHEREOF, the Town Council of the Town has caused this Bond to be signed by its Mayor, Vice Mayor or Town Manager and the seal of the Town to be affixed to this Bond and attested by its Clerk, and this Bond to be dated the date first above written. TOWN OF VINTON By: [FORM OF BOND--NOT FOR SIGNATURE] Name: ________________________ Title: _________________________ (SEAL) ATTEST: [FORM OF BOND--NOT FOR SIGNATURE] Clerk [Authentication block to be added if facsimile signatures for Authorized Officer and Clerk are used.] [END OF FORM OF BOND] 6. Pledge of Full Faith and Credit. The full faith and credit of the Town are irrevocably pledged for the payment of principal of and premium, if any, and interest on the Bond. Unless other funds are lawfully available and appropriated for timely payment of the Bond, the Town Council 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 Town sufficient to pay when due the principal of and premium, if any, and interest on the Bond. 7. Preparation of Bond; Mutilated or Destroyed Bond. The typewritten Bond may be executed by manual or facsimile signature of the Authorized Officer, the Town’s seal affixed thereto and attested by the Clerk of the Town; however, if both such signatures are facsimiles, no 6 bond shall be valid until it has been authenticated by the manual signature of the Registrar and the date of authentication noted on it. If the Bond has been mutilated, lost or destroyed, the Town shall execute and deliver a new bond of like date and tenor in exchange and substitution for, and upon cancellation of, such mutilated bond or in lieu of and in substitution for such lost or destroyed bond; however, the Town shall so execute and deliver only if the registered owner has paid the reasonable expenses and charges of the Town in connection therewith and, in the case of a lost or destroyed bond, (a) has filed with the Town an affidavit reasonably satisfactory to the Town that such bond was lost or destroyed and (b) has furnished to the Town reasonably satisfactory indemnity. The typewritten Bond surrendered in any such exchange shall be canceled. 8. Registration and Transfer of the Bond. The Town appoints the Treasurer of the Town as paying agent and registrar (the “Registrar”) for the Bond. The Registrar shall maintain registration books for the registration of the Bond and transfers thereof. Transfer of the Bond shall be made only to (i) an affiliate of the registered owner of the Bond or (ii) banks, insurance companies, trusts, custodians, or other financial institutions or their affiliates. Nothing herein shall limit the right of the registered owner of the Bond or its assignees to sell or assign participation interests in the Bond to one or more entities listed in (i) or (ii) above. Any such assignment, transfer or conveyance as described in this paragraph shall comply with applicable laws. Upon surrender of the Bond at the office of the Registrar, together with an assignment duly executed by the registered owner or its duly authorized attorney or legal representative in such form as shall be reasonably satisfactory to the Registrar, the Town shall execute, and the Registrar shall authenticate and deliver in exchange, a new bond having an equal principal amount, of the same form and maturity, bearing interest at the same rate and registered in such name as requested by the then registered owner or its duly authorized attorney or legal representative. Any such exchange shall be at the expense of the Town, 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 of the first day of the month in which the payment is due as the person or entity exclusively entitled to payment of principal, interest and premium, if any, and the exercise of all other rights and powers of the owner, except that regular installments shall be paid to the person or entity shown as owner on the registration books on the fifteenth day of the month preceding each payment date. Assignment and transfer of the Bond shall without further action be deemed to assign the registered owner's interest under the Loan Agreement. 9. Delivery of Bond. The Authorized Officers are authorized and directed to take all proper steps to have the Bond prepared and executed in accordance with its terms and to deliver it to the Lender in accordance the Loan Agreement. 10. Application of Proceeds. The proceeds derived from the sale of the Bond shall be applied to pay costs of capital improvements to the War Memorial of the Town and expenses reasonably incurred in issuing the Bond. The proceeds may be paid initially to the Town and then applied as described above, or applied as described above directly by the Lender, or a combination of the foregoing. However, any proceeds of the Bond not spent on the date of issuance of the Bond will be deposited at the direction of the Town Treasurer, in a bank or other depository to the credit of the Town. Such proceeds shall be accounted for through a fund designated “2026 War Memorial Project Fund” (the “Fund”). Withdrawals shall be made from the Fund only after the Town 7 Manager or his designee has certified that the amount being withdrawn from the Fund will be used to pay bona fide costs of capital improvements to water and sewer facilities of the Town or bona fide costs of issuing the Bond. 11. Tax Provisions. (a) The Town covenants that it shall not take or omit to take any action the taking or omission of which will cause the Bond to be an “arbitrage bond” within the meaning of Section 148 of the Internal Revenue Code of 1986, as amended, and regulations issued pursuant thereto (the “Code”), or otherwise cause interest on the Bond to be includable in the gross income of the registered owner thereof under existing law. Without limiting the generality of the foregoing, the Town shall comply with any provision of law that may require the Town at any time to rebate to the United States any part of the earnings derived from the investment of the gross proceeds of the Bond, unless the Town receives an opinion of nationally recognized bond counsel that such compliance is not required to prevent interest on the Bond from being included in the gross income for federal income tax purposes of the registered owner thereof under existing law. The Town shall pay any such required rebate from legally available funds. (b) The Bond is not a private activity bond and is designated by the Town Council as a Qualified Tax-Exempt Obligation, as defined in Section 265(b)(3) of the Code. The Town Council represents and covenants as follows: (i) The Town Council will in no event issue more than $10,000,000 of obligations as qualified tax-exempt obligations in the current calendar year, including the Bond, for the purpose of Section 265(b)(3) of the Code; (ii) The Town, all its “subordinate entities,” within the meaning of Section 265(b)(3) of the Code, and all entities which issue tax-exempt bonds on behalf of the Town and such subordinate entities have together not authorized to be issued more than $10,000,000 of tax-exempt obligations in the current calendar year (not including “private activity bonds,” as defined in Section 141 of the Code, other than “qualified 501(c)(3) bonds,” as defined in Section 145 of the Code), including the Bond; (iii) Barring circumstances unforeseen as of the date of delivery of the Bond, the Town will not issue tax-exempt obligations itself or approve the issuance of tax-exempt obligations of any of such other entities if the issuance of such tax-exempt obligations would, when aggregated with all other tax-exempt obligations theretofore issued by the Town and such other entities in the current calendar year, result in the Town and such other entities having issued a total of more than $10,000,000 of tax-exempt obligations in such year (not including private activity bonds, other than qualified 501(c)(3) bonds), including the Bond; and 8 (iv) The Town Council has no reason to believe that the Town and such other entities will issue in the current calendar year tax-exempt obligations in an aggregate amount that will exceed such $10,000,000 limit; however, if the Town receives an opinion of nationally recognized bond counsel that compliance with any covenant set forth in (i) or (iii) above is not required for the Bond to be a qualified tax- exempt obligation, the Town need not comply with such restriction. 12. Tax Documents. Each of the Authorized Officers is authorized and directed to execute and deliver an IRS Form 8038-G in a form approved by such officers and the Town’s bond counsel. The Authorized Officers, any of whom may act, are authorized to execute a Nonarbitrage Certificate and Tax Compliance Agreement and any related document on behalf of the Town, setting forth the expected use and investment of the proceeds of the Bond and covenants of the Town regarding compliance with provisions of the Code governing obligations the interest on which is excluded from gross income for purposes of federal income taxation. 13. Official Intent to Reimburse. The Town intends that the adoption of this Resolution evidences the “official intent” of the Town within the meaning of Treasury Regulations Section 1.150-2 promulgated under the Code and to the extent that some of the costs of the Project prior to closing of the Bond may be paid for out of cash on hand and will be financed with bond proceeds may be reimbursed to the Town from the proceeds of the sale of the Bond. Limitation of Liability of Officials of Town. No covenant, condition or agreement contained herein shall be deemed to be a covenant, agreement or obligation of an officer, employee, member of Town Council, or agent of the Town in his or her individual capacity, and no officer of the Town or member of Town Council executing the Bond shall be liable personally on the Bond or be subject to any personal liability or accountability by reason of the issuance thereof. No officer, employee or agent of the Town shall incur any personal liability with respect to any other action taken by him or her pursuant to this Resolution provided he or she acts in good faith. 14. Other Actions. All other actions of officials of the Town in conformity with the purposes and intent of this Resolution and the Loan Agreement and in furtherance of the issuance and sale of the Bond are ratified, approved and confirmed. The officials of the Town are authorized and directed to execute and deliver on behalf of the Town such agreements and other instruments, documents or certificates, and to do and perform such things and acts, as they shall deem necessary or appropriate to carry out the transactions authorized by this Resolution or contemplated by the Bond or the Loan Agreement, and all of the foregoing, previously done or performed by such officers of the Town, are in all respects approved, ratified and confirmed. 15. Headings. Any headings in this resolution are solely for convenience of reference and shall not constitute a part of the resolution nor shall they affect its meaning, construction or effect. 16. Constitutional Authority and Severability. The Bond shall be issued under the provisions of Article VII, Section 10(a) of the Constitution of Virginia (other than Subsection (2) thereof). The principal of and interest on the Bond shall be payable from ad valorem taxes to be 9 levied without limitation as to rate or amount on all property in the Town subject to taxation, to the extent other funds of the Town are not lawfully available and appropriated for such purpose. If any court of competent jurisdiction shall hold any provision of this Resolution to be invalid and unenforceable, such holding shall not invalidate any other provision hereof. 17. Filing of Resolution. The Clerk of the Town is authorized and directed to see to the prompt filing of a certified copy of this Resolution in the Circuit Court of Roanoke County, Virginia, in accordance with Sections 15.2-2607 and 15.2-2627 of the Act. 18. Effective Date. This Resolution shall take effect immediately. 10 The undersigned Clerk of the Town Council of Vinton, Virginia (the “Town Council”), certifies that the foregoing constitutes a true and correct copy of a resolution adopted at a meeting of the Town Council held on August 18, 2026, that such meeting was a regularly scheduled meeting, that public hearing on and adoption of the foregoing resolution was placed on the prepublished agenda, and that, during the consideration of the foregoing resolution, a quorum was present. I further certify that the attendance of the members and the voting on the foregoing resolution were recorded at the meeting as follows: This Resolution adopted on motion made by, seconded by, with the following votes recorded: AYES: ABSENT: NAYS: WITNESS MY HAND and the seal of the Town Council of Vinton, Virginia, this ___ day of August, 2026. (SEAL) Clerk Meeting Date August 18, 2026 Department Finance Issue Finance Committee Summary The Finance Committee met on August 18, 2026. Tiffany Stewart, Director of Finance, will be present to provide a report to Council on what the Committee discussed. Attachments None Recommendations Consider a motion to approve Financial Statements for July 31, 2026. Town Council Agenda Summary Meeting Date August 18, 2026 Department Planning and Zoning Issue Community Development Committee Summary The Community Development Committee met on August 12, 2026. Nathan McClung, Assistant Director of Planning and Zoning, will provide a report on the items discussed at the Committee Meeting. Attachments None Recommendations No action required Town Council Agenda Summary