FAIRMONT BUILDING COMMISSION
NOTICE OF PUBLIC HEARING
REGARDING BOND AUTHORIZING
ORDINANCE
(EAST SIDE FIRE
STATION)
A public hearing will be held on the following-entitled Ordinance at a special meeting of the Fairmont Building Commission, a public corporation and municipal building commission of the State of West Virginia (the “Building Commission”) to be held on Wednesday, August 7, 2019, at 2:00 p.m. in the City Manager’s Conference Room, Suite 305, 3rd Floor, City/County Complex, 200 Jackson Street, Fairmont, West Virginia, and at such hearing any person interested may appear before the Building Commission and present protests, comments and suggestions, and all protests, comments and suggestions shall be heard by the Building Commission and it shall then take such action as it shall deem proper in the premises upon a Bond Authorizing Ordinance entitled:
AN ORDINANCE APPROVING AND AUTHORIZING THE DESIGN, ACQUISITION, CONSTRUCTION AND EQUIPPING OF A NEW FIRE STATION TO BE CONSTRUCTED ON REAL PROPERTY LOCATED IN THE VICINITY OF 828 VERMONT AVENUE IN THE CITY OF FAIRMONT AND TO BE KNOWN AS THE “EAST SIDE FIRE STATION”; THE ISSUANCE BY THE FAIRMONT BUILDING COMMISSION OF ITS LEASE REVENUE BONDS, IN ONE OR MORE SERIES, IN THE AGGREGATE PRINCIPAL AMOUNT OF NOT MORE THAN $3,000,000, THE PROCEEDS OF WHICH SHALL BE EXPENDED TO FINANCE A PORTION OF THE COSTS OF SUCH PROJECT AND RELATED COSTS; AUTHORIZING THE EXECUTION AND DELIVERY OF A DEED OF TRUST, AN AGREEMENT AND LEASE, A LEASE ASSIGNMENT AND OTHER INSTRUMENTS AND DOCUMENTS AND APPROVING OTHER MATTERS RELATING TO THE TERMS AND SECURITY OF SUCH BONDS; DEFINING AND PRESCRIBING THE TERMS AND PROVISIONS OF THE BONDS; PROVIDING GENERALLY FOR THE RIGHTS AND REMEDIES AND SECURITY OF THE HOLDERS OF THE BONDS; PROVIDING FOR CERTAIN OTHER MATTERS IN CONNECTION THEREWITH; AND PROVIDING WHEN THIS ORDINANCE SHALL TAKE EFFECT.
The above-entitled Ordinance was adopted on second reading by the Building Commission on July 16, 2019.
The above-quoted title of the Ordinance describes generally the contents thereof and the purposes of the Bond issue contemplated thereby. The Fairmont Building Commission contemplates the issuance of its Lease Revenue Bonds as described in the Ordinance. The proceeds of the Bonds will be used to design, acquire, construct and equip on the Fire Station Property a new fire station (the “East Side Fire Station”) together with all necessary appurtenances in connection therewith to be located on real property in the vicinity of 828 Vermont Avenue in the City of Fairmont. The East Side Fire Station, together with all necessary appurtenances (the “Facilities”) will be leased by the City of Fairmont from the Building Commission in connection with the issuance of the Bonds. The Bonds will be payable solely from lease revenues to be derived from the leasing of the Facilities by the Building Commission to the City. No taxes may at any time be levied for the payment of the Bonds or the interest thereon.
A certified copy of the above-entitled Ordinance is on file at the office of the City Manager of the City of Fairmont at Suite 305, 3rd Floor, City/County Complex, 200 Jackson Street, Fairmont, West Virginia for review by interested parties during regular office hours.
Following the public hearing, the Building Commission intends to enact said Ordinance upon final reading if such action appears to be appropriate after taking into consideration the protests, comments and suggestions made at the public hearing.
Dated: July 16, 2019
/s/Jeff Wise
Chairman, Fairmont
Building Commission
Times: July 19, 26, 2019
Sponsored by ZMM Architects and Engineers