NOTICE OF PUBLIC HEARING ON THE
CITY OF SMITHERS FUNDING ASSISTANCE ORDINANCE
A public hearing will be held on the following entitled Ordinance at a regular meeting of the Council of the City of Smithers (the “City”) to be held on Monday, August 9, 2021, at 6:00 p.m., at the City Hall, 518 Michigan Avenue, Smithers, 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 ACQUISITION AND CONSTRUCTION OF CERTAIN IMPROVEMENTS AND EXTENSIONS TO THE EXISTING PUBLIC WASTEWATER FACILITIES OF THE CITY OF SMITHERS, AND THE FINANCING OF THE COST THEREOF, NOT OTHERWISE PROVIDED, THROUGH THE ACCEPTANCE BY THE CITY OF FUNDING ASSISTANCE, SERIES 2021 IN THE AGGREGATE PRINCIPAL AMOUNT OF $1,500,000 THROUGH THE WEST VIRGINIA SRF PROGRAM; AUTHORIZING EXECUTION AND DELIVERY OF ALL DOCUMENTS RELATING TO ACCEPTANCE OF SUCH FUNDING; APPROVING, RATIFYING AND CONFIRMING THE FUNDING ASSISTANCE AGREEMENT RELATING TO SUCH FUNDING ASSISTANCE, SERIES 2021.
The above quoted title of the Ordinance describes generally the contents thereof and the purposes of the Funding Assistance contemplated thereby. The City contemplates the issuance of the Funding Assistance described in the Ordinance. The proceeds of the Funding Assistance will be used to (i) pay a portion the costs of certain additions, betterments and improvements to the existing public wastewater system of the Issuer (the “Project”); and (ii) pay certain costs of issuance of the Funding Assistance and related costs. The Funding Assistance is provided through a principal forgiveness loan, which shall be deemed forgiven on the 30th day of June in the fiscal year in which they were advanced. No taxes may at any time be levied for the payment of the Funding Assistance.
The above-entitled Ordinance was adopted by the Council of the City of Smithers on July 12, 2021. A certified copy of the above entitled Ordinance is on file with the City for review by interested parties during regular office hours.
Following the public hearing, the Council intends to enact the Ordinance upon final reading.
Dated: July 22, 2021.
/s/ Teresa Dorsey
Clerk