CITY OF SOUTH CHARLESTON NOTICE OF PUBLIC HEARING ON LEASE REVENUE REFUNDING BONDS (PARK PLACE AND JEFFERSON ROAD DEVELOPMENT PROJECTS) SERIES 2026 AND RELATED MATTERS Pursuant to W.Va. Code 8-12-18, a public hearing will be held by the City Council of South Charleston, West Virginia (the "City"), on the following entitled Ordinance on the question of whether the City should lease (1) certain portions of certain property along and around Jefferson Road, commonly known as Jefferson Park (the "Jefferson Park Property"), (2) certain portions of certain property along and around 60 MacCorkle Avenue, commonly known as Park Place (the "Park Place Property"), (3) the South Charleston Community Center, (4) the South Charleston Memorial Ice Arena, (5) the South Charleston Public Works Garage, and (6) Little Creek Golf Course, by the City, for the purposes of financing the costs of (i) refunding The South Charleston Municipal Building Commission Lease Revenue Refunding Bonds (South Charleston Park Place Project), Series 2022 A (Taxable), The South Charleston Municipal Building Commission Lease Revenue Bonds (Jefferson Road Development Project), Series 2022 B (Taxable), The South Charleston Municipal Building Commission Lease Revenue Bonds (South Charleston Park Place Project), Series 2023 A, and The South Charleston Municipal Building Commission Lease Revenue Bonds (South Charleston Park Place Project), Series 2023 B (Taxable) (collectively, the "Refunding"); (iii) the construction, improvement, development and equipping of the Park Place Property and the Jefferson Park Property, for purposes of commercial and economic development, including reimbursement of certain prior expenditures for such purposes (collectively, the "Project"); and (iii) pay the costs of issuance of the Bonds and related costs. At a regular meeting of the City Council to be held at 7:30 p.m., on Thursday, May 7, 2026 in its Chambers at City Hall, 401 D Street, South Charleston, West Virginia, all parties and interested persons may attend and appear before the City Council and be heard as to whether the Ordinance shall be put into effect and to express their views on the proposed Project and at such hearing all objections and suggestions shall also be heard and the City Council shall then take such action as it shall deem proper in the premises upon an Ordinance entitled: ORDINANCE AUTHORIZING THE REFUNDING OF THE SOUTH CHARLESTON MUNICIPAL BUILDING COMMISSION LEASE REVENUE REFUNDING BONDS, SERIES 2022 A (SOUTH CHARLESTON PARK PLACE PROJECT) (TAXABLE), THE SOUTH CHARLESTON MUNICIPAL BUILDING COMMISSION LEASE REVENUE BONDS, SERIES 2022 B (JEFFERSON ROAD DEVELOPMENT PROJECT) (TAXABLE), THE SOUTH CHARLESTON MUNICIPAL BUILDING COMMISSION LEASE REVENUE BONDS, SERIES 2023 A (CITY OF SOUTH CHARLESTON PARK PLACE PROJECT), THE SOUTH CHARLESTON MUNICIPAL BUILDING COMMISSION LEASE REVENUE BONDS, SERIES 2023 B (SOUTH CHARLESTON PARK PLACE PROJECT) (TAXABLE), AND FINANCING OF THE CONSTRUCTION, IMPROVEMENT, DEVELOPMENT, AND EQUIPPING OF REAL PROPERTY LOCATED AT THE PARK PLACE AND JEFFERSON PARK DEVELOPMENTS, INCLUDING REIMBURSEMENT OF PRIOR EXPENDITURES FOR SUCH PURPOSES, THROUGH THE ISSUANCE BY THE SOUTH CHARLESTON MUNICIPAL BUILDING COMMISSION (THE "BUILDING COMMISSION") OF ONE OR MORE SERIES OF ITS LEASE REVENUE REFUNDING BONDS (PARK PLACE AND JEFFERSON ROAD DEVELOPMENT PROJECTS), SERIES 2026 IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $45,000,000 (THE "BONDS"); AUTHORIZING THE CITY OF SOUTH CHARLESTON TO ENTER INTO A CONTRACT OF LEASE-PURCHASE WITH THE BUILDING COMMISSION; AUTHORIZING THE EXECUTION AND DELIVERY OF OTHER DOCUMENTS, INSTRUMENTS, AGREEMENT AND CERTIFICATES; AND AUTHORIZING THE TAKING OF ALL OTHER ACTIONS RELATING TO THE FINANCING. The above-quoted title of the Ordinance generally describes the contents thereof and the purposes of the Bonds issued by the Building Commission contemplated thereby. The proceeds of the Bonds issued by the Building Commission will be used to (i) finance the costs of the Refunding; (ii) finance the costs of the Project and (iii) pay the costs of issuance of the Bonds and related costs. The Building Commission and the City will enter into a Contract of Lease-Purchase dated as of the date specified therein (the "Lease") for the following real estate: (1) certain portions of certain property along and around Jefferson Road, commonly known as Jefferson Park (the "Jefferson Park Property"), (2) certain portions of certain property along and around 60 MacCorkle Avenue, commonly known as Park Place (the "Park Place Property"), (3) the South Charleston Community Center, (4) the South Charleston Memorial Ice Arena, (5) the South Charleston Public Works Garage, and (6) Little Creek Golf Course. The lease payments to be paid by the City under the Lease will be sufficient to pay the principal of and interest due on the Bonds. The Bonds are payable solely from the Trust Estate. The Lease is cancellable upon 30-days' notice or an event of non-appropriation. A certified copy of the above-entitled Ordinance is on file at the office of the City Manager, the Municipal Building, 238 4th Avenue, South Charleston, West Virginia, for review by interested persons during regular office hours. Following the public hearing, the City Council intends to adopt a Resolution to make the Ordinance effective. Dated: April 16, 2026. CITY OF SOUTH CHARLESTON By: /s/ Margie Spence City Clerk LC-447910 04-28;2026
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