WHEELING MUNICIPAL BUILDING COMMISSION
NOTICE OF
PUBLIC HEARING
Notice is hereby given that on Tuesday, April 5, 2022, at 11:00 a.m., prevailing time, a public hearing will be held in the City Manager’s Conference Room at the City-County Building located at 1500 Chapline Street, Wheeling, West Virginia, at which time and place all parties and interests may appear before the Wheeling Municipal Building Commission (the “Building Commission”) and may be heard as to whether the following described Ordinance shall be put into effect.
Notice is further hereby given that on March 15, 2022, the Building Commission adopted on second reading an Ordinance authorizing and directing the issuance of not more than $9,000,000 in aggregate principal amount of Wheeling Municipal Building Commission Lease Revenue Bonds, Series 2022 A (Fire Department Headquarters) (the “Series 2022 A Bonds”) to finance costs of the acquisition, construction, improvement, furnishing and equipping of a building on certain real property, together with the improvements thereon, located West of Wood Street, between 17th Street and Lane 15, Wheeling, West Virginia (collectively, the “Property”), for use by The City of Wheeling, West Virginia (the “City”) as a headquarters for the Wheeling Fire Department (the “Project”) for the benefit and to serve the inhabitants of the City. The Ordinance further provides for the purchase of the Property by the Building Commission from, and subsequent leasing of the Property to, the City pursuant to a Lease Agreement (the “Lease”).
The Series 2022 A Bonds will be special obligations of the Building Commission, payable solely from the revenues, rentals, and other monies received by the Building Commission pursuant to the Lease and any other permitted lease of the Property and other security held pursuant to a bond purchase agreement described below and will not constitute a debt or liability of the City (except as provided in the Lease), or the State of West Virginia.
The Ordinance further provides for a bond purchase agreement and a bond indenture and security agreement by which the Building Commission will assign to the original purchaser of the Series 2022 A Bonds or the trustee for the Series 2022 A Bonds, the right to receive rental and other payments under the Lease or other leases permitted by the bond indenture and security agreement, or the credit line deed of trust that will encumber the Property to further secure the owners of the Series 2022 A Bonds and the Building Commission will deliver the Series 2022 A Bonds in return for the purchase price thereof to be used to pay all or a portion of the costs of the Project and costs of issuing the Series 2022 A Bonds. Accordingly, the Property will initially
be leased by the Building Commission to the City pursuant to the Lease.
A certified copy of the Ordinance is on file for review by interested persons during regular office hours in the office of the City Clerk of The City of Wheeling, West Virginia, City Hall, 1500 Chapline Street, Wheeling, West Virginia.
Secretary, Wheeling
Municipal Building
Commission
Int. March 25. April 1, 2022