NOTICE OF PUBLIC HEARING ON THE
THE CITY OF
WHEELING ORDINANCE
A public hearing will be held on the following entitled Ordinance at a regular meeting of the Council of The City of Wheeling (the “City”) to be held on Tuesday, November 2, 2021, at 12:00 p.m. in City Council Chambers at the City- County Building, 1500 Chapline Street, Wheeling, West Virginia, and at such hearing any person interested may appear before the City and present protests, and all protests and suggestions shall be heard by the City and it shall then take such actions as it shall deem proper in the premises upon an Ordinance entitled:
AN ORDINANCE AUTHORIZING AND APPROVING THE DEMOLITION, DESIGN, ACQUISITION, CONSTRUCTION, IMPROVEMENT, FURNISHING AND EQUIPPING OF REAL PROPERTY TO BE ACQUIRED FROM OHIO VALLEY ADC, INC. BY THE CITY OF WHEELING MUNICIPAL BUILDING COMMISSION (THE “BUILDING COMMISSION”) LOCATED AT 2200 CHAPLINE STREET, WHEELING, WEST VIRGINIA, FOR USE AS A PARKING GARAGE (THE “CENTER WHEELING PARKING GARAGE PROJECT”) BY THE CITY AND THE ISSUANCE BY THE BUILDING COMMISSION OF ITS LEASE REVENUE BONDS, IN ONE OR MORE SERIES, IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $3,000,000 (THE “BONDS”), TO FINANCE THE COSTS THEREOF, THE PAYMENT OF CAPITALIZED INTEREST ON THE BONDS, THE FUNDING OF A DEBT SERVICE RESERVE FUND FOR THE BONDS, IF REQUIRED, AND THE PAYMENT OF COSTS OF ISSUANCE OF THE BONDS AND RELATED COSTS; AUTHORIZING THE LEASING OF THE PROPERTY OF THE PARKING GARAGE TOGETHER WITH ALL BUILDINGS, IMPROVEMENTS, FIXTURES, EQUIPMENT, RIGHTS OF WAY AND APPURTENANCES ASSOCIATED THEREWITH BY THE CITY FROM THE BUILDING COMMISSION PURSUANT TO A LEASE AGREEMENT TO BE EXECUTED AND DELIVERED BY THE MAYOR OF THE CITY; AUTHORIZING THE EXECUTION AND DELIVERED OF A CREDIT LINE DEED OF TRUST, SECURITY AGREEMENT AND FIXTURE FILING BY THE CITY AND THE BUILDING COMMISSION IN FAVOR OF THE PURCHASER OF THE BONDS; AUTHORIZING THE EXECUTION AND DELIVERY BY THE MAYOR OF THE CITY OF A BOND PURCHASE AGREEMENT AMONG THE CITY, THE BUILDING COMMISSION AND THE PURCHASER OF THE BONDS; AND AUTHORIZING OTHER NECESSARY ACTIONS IN CONNECTION WITH THE FOREGOING.
The above quoted title of the Ordinance describes generally the contents thereof and the purposes of the Lease contemplated thereby. The City contemplates that the Wheeling Municipal Building Commission will issue Lease Revenue Bonds, Series 2021 B (the “Series 2021 B Bonds”) to finance (i) the design, acquisition, construction, improvement, furnishing and equipping of certain real estate, together with the improvements thereon, located in Wheeling, West Virginia as the Center Wheeling Parking Garage (the “Project”); (ii) the funding of a debt service reserve fund for the Series 2021 B Bonds, if required; and (iii) the costs of issuance of the Series 2021 B Bonds and related costs. The Series 2021 B Bonds will be payable solely from lease rentals payable to the Wheeling Municipal Building Commission by The City of Wheeling. No taxes may at any time be levied for the payment of the Series 2021 B Bonds or the interest thereon.
The above-entitled Ordinance was adopted on first reading by the Council of The City of Wheeling on October 19, 2021. A certified copy of the above entitled Ordinance is on file with the City Clerk for review by interested parties during regular office hours.
Following the public hearing, the Council of The City of Wheeling 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 City to be held on Tuesday, November 2, 2021, at 12:00 p.m. in City Council Chambers at the City-County Building, 1500 Chapline Street, Wheeling, West Virginia, and at such hearing any person interested may appear before the City and present protests, and all protests and suggestions shall be heard by the City and it shall then take such actions as it shall deem proper in the premises upon an Ordinance entitled:
AN ORDINANCE AUTHORIZING THE ISSUANCE BY THE WHEELING MUNICIPAL BUILDING COMMISSION OF NOT MORE THAN $19,500,000 IN AGGREGATE PRINCIPAL AMOUNT OF WHEELING MUNICIPAL BUILDING COMMISSION LEASE REVENUE BONDS, SERIES 2021 C (MARKET STREET PARKING GARAGE PROJECT) TO PROVIDE FUNDS TO FINANCE ALL OR A PORTION OF THE COSTS OF THE ACQUISITION OF REAL PROPERTY, DEMOLITION, CONSTRUCTION, RENOVATION, IMPROVEMENT, FURNISHING AND EQUIPPING OF A PARKING GARAGE FACILITY FOR THE CITY OF WHEELING, AND TO PAY OTHER COSTS IN CONNECTION THEREWITH AND APPROVING THE LEASING OF SAID FACILITY TO THE CITY OF WHEELING, ALL AS MORE FULLY SET FORTH HEREIN; AUTHORIZING THE EXECUTION AND DELIVERY OF A BOND PURCHASE AGREEMENT, A BOND INDENTURE AND SECURITY AGREEMENT, IF NECESSARY, A DEED OF TRUST, A LEASE AGREEMENT WITH THE CITY OF WHEELING, AN ASSIGNMENT OF LEASES, AND A TAX REGULATORY AGREEMENT; AUTHORIZING THE DISTRIBUTION OF A PRELIMINARY OFFICIAL STATEMENT, IF NECESSARY, AND AUTHORIZING THE EXECUTION AND DISTRIBUTION OF AN OFFICIAL STATEMENT, IF NECESSARY; AUTHORIZING THE SALE OF SUCH BONDS AND TAKING OTHER NECESSARY ACTIONS IN CONNECTION WITH THE ISSUANCE AND SALE OF SUCH BONDS.
The above quoted title of the Ordinance describes generally the contents thereof and the purposes of the Lease contemplated thereby. The City contemplates that the Wheeling Municipal Building Commission will issue Lease Revenue Bonds, Series 2021 C (the “Series 2021 C Bonds”) to finance (i) the design, acquisition, construction, improvement, furnishing and equipping of certain real estate, together with the improvements thereon, located in Wheeling, West Virginia as the Market Street Parking Garage (the “Project”); (ii) the funding of a debt service reserve fund for the Series 2021 C Bonds, if required; and (iii) the costs of issuance of the Series 2021 C Bonds and related costs. The Series 2021 C Bonds will be payable solely from lease rentals payable to the Wheeling Municipal Building Commission by The City of Wheeling. No taxes may at any time be levied for the payment of the Series 2021 C Bonds or the interest thereon.
The above-entitled Ordinance was adopted on first reading by the Council of The City of Wheeling on October 19, 2021. A certified copy of the above entitled Ordinance is on file with the City Clerk for review by interested parties during regular office hours.
Following the public hearing, the Council of The City of Wheeling intends to enact the Ordinance upon final reading.
/s/ Brenda J. Delbert
City Clerk
964250.00077
Int. Oct. 20, 27, 2021