NOTICE OF PUBLIC HEARING ON THE TOWN OF PINEVILLE
BOND ORDINANCE
A public hearing will be held on the following entitled Ordinance at a regular meeting of the Council of the Town of Pineville (the “Town”) to be held on June 16, 2025 at 5:30 p.m., at the Town Hall, Pineville, West Virginia,, and at such hearing any person interested may appear before the Town and present protests, and all protests and suggestions shall be heard by the Town 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 EXTENSIONS, ADDITIONS, BETTERMENTS AND IMPROVEMENTS TO THE EXISTING PUBLIC WATERWORKS SYSTEM OF THE TOWN OF PINEVILLE AND THE FINANCING OF THE COST THEREOF, NOT OTHERWISE PROVIDED, THROUGH THE ISSUANCE BY THE TOWN OF PINEVILLE OF NOT MORE THAN $1,200,000 IN ORIGINAL AGGREGATE PRINCIPAL AMOUNT OF WATER REVENUE BONDS, SERIES 2025 A (WEST VIRGINIA INFRASTRUCTURE FUND); PROVIDING FOR THE RIGHTS AND REMEDIES OF AND SECURITY FOR THE REGISTERED OWNERS OF SUCH BONDS; AUTHORIZING EXECUTION AND DELIVERY OF ALL DOCUMENTS RELATING TO THE ISSUANCE OF SUCH BONDS; APPROVING, RATIFYING AND CONFIRMING A LOAN AGREEMENT RELATING TO SUCH BONDS; AUTHORIZING THE SALE AND PROVIDING FOR THE TERMS AND PROVISIONS OF SUCH BONDS AND ADOPTING OTHER PROVISIONS RELATING THERETO.
The above quoted title of the Ordinance describes generally the contents thereof and the purposes of the Series 2025 A Bonds contemplated thereby. The Town contemplates the issuance of the Series 2025 A Bonds described in the Ordinance. The proceeds of the Series 2025 A Bonds will be used to (i) pay the costs of acquisition and construction of certain extensions, additions, betterments, and improvements to the existing public waterworks system of the Town; and (ii) to pay certain costs of issuance of the Series 2025 A Bonds and related costs. The Series 2025 A Bonds are payable solely from revenues to be derived from the ownership and operation of the waterworks system of the Town. No taxes may at any time be levied by the Town for the payment of the Series 2025 A Bonds or the interest thereon.
The above-entitled Ordinance was adopted by the Council of the Town of Pineville on second reading on May 19, 2025. 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 of the Town of Pineville intends to enact the Ordinance upon final reading.
/s/ Aaron Hatfield
Mayor