NOTICE OF PUBLIC HEARING
ON THE BOND AUTHORIZING ORDINANCE
OF THE MORGAN COUNTY BUILDING COMMISSION
A public hearing will be held on the following entitled Ordinance at a special meeting of the Board of the Morgan County Building Commission (the “Building Commission”) to be held on the Tuesday, September 24th, 2024, at Noon at the Morgan County Courthouse, 77 Fairfax Street, Room 101, Berkeley Springs, West Virginia, and at such hearing any person interested may appear before the Building Commission and present comments, suggestions and protests, and all comments, suggestions and protests shall be heard by the Building Commission and it shall then take such actions as it shall deem proper in the premises upon an Ordinance entitled:
BOND AUTHORIZING
ORDINANCE OF
MORGAN COUNTY BUILDING COMMISSION
AN ORDINANCE AUTHORIZING THE DESIGN, ACQUISITION, CONSTRUCTION AND EQUIPPING OF A WELLNESS CENTER AND ALL NECESSARY APPURTENANCES FOR THE MORGAN COUNTY BUILDING COMMISSION; THE ACQUISITION BY THE BUILDING COMMISSION OF SUCH REAL AND PERSONAL PROPERTY AS MAY BE NECESSARY IN CONNECTION THEREWITH; THE ISSUANCE OF THE MORGAN COUNTY BUILDING COMMISSION LEASE REVENUE BONDS, SERIES 2024 A (UNITED STATES DEPARTMENT OF AGRICULTURE), IN THE AGGREGATE PRINCIPAL AMOUNT OF NOT MORE THAN $3,000,000 THE PROCEEDS OF WHICH SHALL BE EXPENDED TO FINANCE THE COSTS THEREOF AND PAYING COSTS IN CONNECTION WITH THE ISSUANCE OF SUCH BONDS; AUTHORIZING THE EXECUTION AND DELIVERY OF A DEED OF TRUST, AN AGREEMENT AND LEASE, AND 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 OF AND SECURITY FOR THE HOLDERS OF THE BONDS; PROVIDING FOR CERTAIN OTHER MATTERS IN CONNECTION THEREWITH; AND PROVIDING WHEN THIS ORDINANCE SHALL TAKE EFFECT.
The above quoted title of the Ordinance describes generally the contents thereof and the purposes of the Bonds contemplated thereby. The Building Commission contemplates the issuance of the Bonds described in the Ordinance. The proceeds of the Bonds will be used to (i) pay a portion of the costs of the design, acquisition, construction and equipping of a new Wellness Center for Morgan County, together with all necessary appurtenances (the “Project”); and (ii) to pay certain costs of issuance of the Bonds and related costs. The Bonds are payable solely from lease rentals payable to the Building Commission by The County Commission of Morgan County pursuant to an Agreement and Lease which shall be executed and delivered by such parties. No taxes may at any time be levied for the payment of the Bonds or the interest thereon. The Bonds will not be an indebtedness of The County Commission of Morgan County.
The above-entitled Ordinance was adopted by the Board of the Morgan County Building Commission on Tuesday, September 3, 2024. A certified copy of the above entitled Ordinance is on file with The County Commission of Morgan County, on behalf of the Building Commission, for review by interested parties during regular office hours.
Following the public hearing, the Building Commission intends to enact the
Ordinance upon final reading.
/s/ Eric Lyda
Chairman
9-11-2tm