NOTICE OF PUBLIC HEARING AND ABSTRACT OF BOND ORDINANCE CITY OF WHITE SULPHUR SPRINGS

NOTICE OF PUBLIC HEARING AND ABSTRACT OF BOND ORDINANCE
CITY OF WHITE SULPHUR SPRINGS
Notice is hereby given to any person interested that on May 9, 2016, the Council of the City of White Sulphur Springs, West Virginia, (the “Issuer”) adopted an ordinance which, among other things:
1. Authorized the acquisition and construction of certain additions, betterments and improvements (the “Project”) to the Issuer’s existing public sewerage system (the “System”) and the financing of the cost including, financing incurred for design costs, not otherwise provided, thereof through the issuance of not more than $2,500,000 in aggregate principal amount of Sewer Revenue Bonds, Series 2016 A (West Virginia CWSRF Program) (the “Bonds””).
2. Directed that the Bonds be issued in such principal amounts, bear interest at such rate or rates, not exceeding the then legal maximum rate, payable quarterly on such dates, mature on such dates and in such amounts and redeemable, in whole or in part, as prescribed in a supplemental resolution or in the Bond Purchase Agreement by and among the Issuer, the West Virginia Water Development Authority and the West Virginia Department of Environmental Protection (the “Bond Purchase Agreement”).
3. Authorized the execution and delivery of the Bond Purchase Agreement.
4. Directed the continuation of a Revenue Fund and the disposition of the revenues of the System; provided for the payment of operating expenses; provided for the monthly payment of principal of and interest on the Bonds when due; provided for the creation of a Sinking Fund, a Reserve Account and a Renewal and Replacement Fund for the Bonds; and provided for the use of excess funds of the System.
5. Directed the creation of a Bond Construction Trust Fund and the disbursement of Bond proceeds.
6. Provided that the Bonds shall not be or constitute a corporate indebtedness of the Issuer within the meaning of any constitutional or statutory provision or limitation, but shall be payable solely from the Net Revenues of the System; pledged the Net Revenues of the System to payment of the Bonds and established the rights of the Registered Owners of the Bonds to the Net Revenues of the System.
7. Provided certain conditions for the issuance of additional bonds.
8. Provided for insurance coverage on the Project, enforcement of collection of rates and other charges for the System, and other covenants of the Issuer in favor of the Registered Owners of the Bonds.
9. Established the events of default and the remedies of the Registered Owners of the Bonds.
10. Provided for the modification or amendment of the Ordinance upon the terms and conditions set forth in the Ordinance.
The Issuer contemplates the issuance of the Bonds described in and under the conditions set forth in the Ordinance abstracted above.  Any person interested may appear before the Council of the City of White Sulphur Springs at a special meeting on June 6, 2016, at 5:15 p.m., in the Council Chambers, City Hall, White Sulphur Springs, West Virginia, at 34 West Main Street, White Sulphur Springs, West Virginia, and present protests and be heard as to whether the above-described Ordinance shall be put into effect.
A certified copy of the Ordinance as adopted by the Council is on file with the Recorder for review by interested persons during the office hours of the City Hall.
/s/_Peggy Bland
Recorder
(25my,1jn)