Legal 3 col x 4”
0926 1003
NOTICE OF PUBLIC HEARING ON THE
TOWN OF ALDERSON NOTE ORDINANCE
A public hearing will be held on the following-entitled Ordinance at a regular meeting of the Council of the Town of Alderson ‘(the “Town”) to be held on Thursday, October 8, 2020, at 7:30 p.m., at Town Hall, 202 Monroe Street, Alderson, 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 action as it shall deem proper in the premises upon an Ordinance entitled:
ORDINANCE AUTHORIZING THE ISSUANCE BY THE TOWN OF ALDERSON
OF NOT MORE THAN $700,000 IN AGGREGATE PRINCIPAL AMOUNT OF
WATERWORKS SYSTEM DESIGN BOND ANTICIPATION NOTES, SERIES 2020 A,
FOR THE PURPOSES OF TEMPORARILY FINANCING THE COSTS OF DESIGN
OF, AND OTHER PRE-PROJECT COSTS FOR, IMPROVEMENTS AND EXTENSIONS
TO THE EXISTING PUBLIC WATERWORKS FACILITIES OF THE TOWN AND
COSTS OF ISSUANCE OF THE NOTES; PROVIDING FOR THE RIGHTS AND
REMEDIES OF AND SECURITY FOR THE REGISTERED OWNERS OF SUCH NOTES;
AUTHORIZING THE SALE AND PROVIDING FOR THE TERMS AND PROVISIONS
OF SUCH NOTES; AND ENACTING OTHER PROVISIONS WITH RESPECT THERETO.
The above-quoted title of the Ordinance describes generally the contents thereof and the purposes of the Notes contemplated thereby. The Town contemplates the issuance of the Notes described in the Ordinance. The proceeds of the Notes will be used to (i) temporarily finance a portion of the costs of design and other preliminary costs of certain betterments and improvements to the existing public waterworks system of the Issuer (the “Design Project”); (ii) capitalize interest; and (iii) pay the costs of issuance hereof and related costs. The Notes 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 Notes or the interest thereon.
The above-entitled Ordinance was adopted by the Council of the Town of Alderson on September 10, 2020. A certified copy of the above-entitled Ordinance is on file with the Town for review by interested parties during regular office hours.
Following the public hearing, the Council intends to enact the Ordinance upon final reading.
Dated: September 15, 2020.
/s/ Travis Copenhaver
Mayor