NOTICE OF PUBLIC HEARING ON THE TOWN OF NEW CUMBERLAND BOND ORDINANCE
A public hearing will be held on the following entitled Ordinance at a regular meeting of the Council of The Town of New Cumberland (the “Town”) to be held on Monday, January 4, 2021, at 5:00 p.m., at Town Hall, New Cumberland, West Virginia, and at such hearing any person interested may appear before the Council and present protests, and all protests and suggestions shall be heard by the Council and it shall then take such actions as it shall deem proper in the premises upon an Ordinance entitled:
ORDINANCE AUTHORIZING THE ACQUISITION AND CONSTRUCTION OF CERTAIN ADDITIONS, BETTERMENTS AND IMPROVEMENTS TO THE WATERWORKS PORTION OF THE EXISTING COMBINED WATERWORKS AND SEWERAGE SYSTEM OF THE TOWN OF NEW CUMBERLAND, AND THE FINANCING OF THE COST, NOT OTHERWISE PROVIDED THEREOF, THROUGH THE ISSUANCE BY THE TOWN OF NEW CUMBERLAND OF NOT MORE THAN $3,747,000 IN AGGREGATE PRINCIPAL AMOUNT OF COMBINED WATERWORKS AND SEWERAGE SYSTEM REVENUE BONDS, SERIES 2021 A (UNITED STATES DEPARTMENT OF AGRICULTURE) IN ONE OR MORE SERIES; DEFINING AND PRESCRIBING THE TERMS AND PROVISIONS OF THE BONDS; PROVIDING GENERALLY FOR THE RIGHTS AND REMEDIES OF AND SECURITY FOR THE HOLDER OF THE BONDS; AND PROVIDING WHEN THIS ORDINANCE SHALL TAKE EFFECT
The above entitled Ordinance was approved by the Council on December 7, 2020. The above quoted title of the Ordinance describes generally the contents thereof and the purposes of the Series 2020 A Bonds contemplated thereby. The Town contemplates the issuance of the Series 2020 A Bonds described in the Ordinance. The proceeds of the Series 2020 A Bonds will be used to (i) pay a portion the costs of acquisition and construction of certain additions, betterments and improvements to the waterworks portion of the existing public combined waterworks and sewerage system of the Issuer (the “Project”); and (ii) to pay costs of issuance and related costs. The Series 2020 A Bonds are payable solely from revenues to be derived from the ownership and operation of the system of the Town. No taxes may at any time be levied for the payment of the Series 2020 A Bonds or the interest thereon. A certified copy of the above entitled Ordinance is on file with the Council at the office of the Clerk for review by interested parties during regular office hours.
Following the public hearing, the Council intends to enact the Ordinance upon final reading. A second public hearing will be held on the following entitled Ordinance at a regular meeting of the Council of the Town to be held on Monday, January 4, 2021, at 5:00 p.m., at Town Hall, New Cumberland, West Virginia, and at such hearing any person interested may appear before the Council and present protests, and all protests and suggestions shall be heard by the Council and it shall then take such actions as it shall deem proper in the premises upon an Ordinance entitled:
ORDINANCE AUTHORIZING THE PAYMENT OF THE CONSTRUCTION ANTICIPATION NOTES, SERIES 2020 A AND ACQUISITION AND CONSTRUCTION OF CERTAIN ADDITIONS, BETTERMENTS AND IMPROVEMENTS TO SEWERAGE PORTION OF THE EXISTING COMBINED WATERWORKS AND SEWERAGE SYSTEM OF THE TOWN OF NEW CUMBERLAND, AND THE FINANCING OF THE COST, NOT OTHERWISE PROVIDED THEREOF, THROUGH THE ISSUANCE BY THE TOWN OF NEW CUMBERLAND OF NOT MORE THAN $2,835,000 IN AGGREGATE PRINCIPAL AMOUNT OF COMBINED WATERWORKS AND SEWERAGE SYSTEM REVENUE BONDS, SERIES 2021 B (UNITED STATES DEPARTMENT OF AGRICULTURE) IN ONE OR MORE SERIES; DEFINING AND PRESCRIBING THE TERMS AND PROVISIONS OF THE BONDS; PROVIDING GENERALLY FOR THE RIGHTS AND REMEDIES OF AND SECURITY FOR THE HOLDER OF THE BONDS; AND PROVIDING WHEN THIS ORDINANCE SHALL TAKE EFFECT.
The above entitled Ordinance was approved by the Council on December 7, 2020. The above quoted title of the Ordinance describes generally the contents thereof and the purposes of the Series 2020 B Bonds contemplated thereby. The Town contemplates the issuance of the Series 2020 B Bonds described in the Ordinance. The proceeds of the Series 2020 B Bonds will be used to (i) pay the Construction Anticipation Notes, Series 2020 A; (ii) pay a portion the costs of acquisition and construction of certain additions, betterments and improvements to the sewerage portion of the existing public combined waterworks and sewerage system of the Issuer (the “Project”); and (iii) pay certain costs of issuance of the Series 2020 B Bonds and related costs. The Series 2020 B Bonds are payable solely from revenues to be derived from the ownership and operation of the system of the Town. No taxes may at any time be levied for the payment of the Series 2020 B Bonds or the interest thereon. A certified copy of the above entitled Ordinance is on file with the Council at the office of the Clerk for review by interested parties during regular office hours.
Following the public hearing, the Council intends to enact the Ordinance upon final reading.
The Town Council is following the mandates from the Office of the Governor of West Virginia with respect to COVID-19. These mandates change from time to time and may impact the manner in which members of the public may attend meetings of Town Council and participate in public hearings. Members of the public who wish to participate in the public hearing on this ordinance are encouraged to call Town Hall prior to the meeting to verify the then current procedures for meetings of Town Council and public participation in public hearings.
Dated: December 14, 2020.
Sara Hawkins, Clerk
WDT adv. Dec. 21, 28, 2020
Sponsored by ZMM Architects and Engineers