CITY OF VIENNA
BUILDING COMMISSION
NOTICE OF
PUBLIC HEARING
REGARDING BOND
AUTHORIZING ORDINANCE
(AQUATIC FACILITY)
A public hearing will be held on the following-entitled Ordinance at a special meeting of the City of Vienna Building Commission to be held on Thursday, October 26, 2023, at 5:30 p.m., in the Council Chambers, City Hall, 609 29 th Street, Vienna, West Virginia and at such hearing any person interested may appear before the Commission and present protests, comments and suggestions, and all protests, comments and suggestions shall be heard by the City of Vienna Building Commission and it shall then take such action as it shall deem proper in the premises upon an Ordinance entitled:
AN ORDINANCE APPROVING AND AUTHORIZING THE DESIGN, ACQUISITION, CONSTRUCTION, RENOVATION AND EQUIPPING OF A NEW AQUATIC FACILITY AT JACKSON MEMORIAL PARK LOCATED IN THE CITY OF VIENNA; THE ISSUANCE BY THE CITY OF VIENNA BUILDING COMMISSION OF ITS LEASE REVENUE BONDS, IN ONE OR MORE SERIES, IN THE AGGREGATE PRINCIPAL AMOUNT OF NOT MORE THAN $4,000,000, THE PROCEEDS OF WHICH SHALL BE EXPENDED TO FINANCE A PORTION OF THE COSTS OF SUCH PROJECT AND PAYING COSTS IN CONNECTION WITH THE ISSUANCE OF SUCH BONDS AND RELATED COSTS; AUTHORIZING THE EXECUTION AND DELIVERY OF A DEED OF TRUST, AN AGREEMENT AND LEASE, A LEASE ASSIGNMENT AND OTHER INSTRUMENTS AND DOCUMENTS AND APPROVING OTHER MATTERS RELATING TO THE TERMS AND SECURITY OF SUCH BONDS; DEFINING AND PRESCRIBING THE TERMS AND PROVISIONS OF THE BONDS; PROVIDING GENERALLY FOR THE RIGHTS AND REMEDIES AND SECURITY OF THE HOLDERS OF THE BONDS; PROVIDING FOR CERTAIN OTHER MATTERS IN CONNECTION THEREWITH; AND PROVIDING WHEN THIS ORDINANCE SHALL TAKE EFFECT.
The above-entitled Ordinance has been approved by the Board of the City of Vienna Building Commission (the “Building Commission”) upon second reading on October 10, 2023.
The above-quoted title of the Ordinance describes generally the contents thereof and the purposes of the Bond issue contemplated thereby. The proceeds of the Bonds will be used to pay a portion of the costs to design, acquire, construct, renovate and equip on the Aquatic Facility Site, as defined in the Ordinance, a new swimming pool and recreational aquatic facility (the “Project”) . The Building Commission approves the issuance of Lease Revenue Bonds, in one or more series for the purpose of facilitating the financing of costs of the Project, all as described in the Ordinance.
The Ordinance also approves the leasing of the Project by the City of Vienna (the “City”) from the Building Commission pursuant to an Agreement and Lease, by and between the City and the Building Commission (the “Lease”) and the payment of lease rentals by the City to the Building Commission at such time and in such amount as to pay the principal of and interest on the Bonds as the same becomes due and payable. The Bonds will be payable solely from the lease rentals to be paid by the City to the Building Commission pursuant to the Lease. No taxes may at any time be levied for the payment of the Bonds or the interest thereon.
A certified copy of the above-entitled Ordinance is on file at with the City of Vienna for review by interested parties during regular office hours.
Following said public hearing, the Building Commission intends to consider enactment of said Ordinance upon final reading and placement of such Ordinance into effect if such action appears to be appropriate after taking into consideration the comments and suggestions made at the public hearing.
Dated: October 11, 2023.
s/ Secretary, Building Commission
Oct. 16, 23