Legal Notices

NOTICE OF PUBLIC HEARING CITY OF ST ALBANS BOND ORDINANCE A public hearing will be held on the following-entitled Ordinance at a regular meeting of the City Council of the City of St. Albans to be held on Monday, May 16, 2022, at 6:30 p.m., in the City Council Chambers, 51 6th Avenue, St. Albans, West Virginia and at such hearing any person interested may appear before the Council and present protests, comments and suggestions, and all protests, comments 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: AN ORDINANCE AUTHORIZING THE REFUNDING OF THE ISSUER’S OUTSTANDING COMBINED WATERWORKS AND SEWERAGE SYSTEM REVENUE BONDS, SERIES 2014 A (BANK QUALIFIED) AND COMBINED WATERWORKS AND SEWERAGE SYSTEM REFUNDING REVENUE BONDS, SERIES 2014 B (BANK QUALIFIED) AND THE FINANCING OF THE COST THEREOF, NOT OTHERWISE PROVIDED, AND PAYING COSTS OF ISSUANCE AND RELATED COSTS, THROUGH THE ISSUANCE OF COMBINED WATERWORKS AND SEWERAGE SYSTEM REFUNDING REVENUE BONDS, SERIES 2022 A (BANK QUALIFIED) OF THE ISSUER IN THE AGGREGATE PRINCIPAL AMOUNT OF NOT MORE THAN $9,500,000; PROVIDING FOR THE RIGHTS AND REMEDIES OF, AND THE SECURITY FOR, THE REGISTERED OWNERS OF SUCH BONDS; AUTHORIZING THE PREPARATION AND DISTRIBUTION OF A PRELIMINARY OFFICIAL STSTEMENT; AUTHORIZING THE EXECUTION AND DELIVERY OF A TAX CERTIFICATE, AN OFFICIAL STATEMENT, A BOND PURCHASE AGREEMENT, A CONTINUING DISCLOSURE CERTIFICATE AND OTHER DOCUMENTS; 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 2022 A Bonds contemplated thereby. The City contemplates the issuance of the Series 2022 A Bonds described in the Ordinance. The proceeds of the Series 2022 A Bonds will be used to (i) pay the outstanding principal of and interest on the Issuer’s Series 2014 A and Series 2014 B Bonds; (ii) fund, with cash or through the purchase of a Municipal Bond Debt Service Reserve Insurance policy, the Series 2022 A Bonds Reserve Account for the Series 2022 A Bonds; (iii) purchase, if determined to be financially advantageous, a Municipal Bond Insurance Policy; and (iv) pay certain costs of issuance of the Series 2022 A Bonds and related costs. The Series 2022 A Bonds are payable from the revenues derived from the City’s combined waterworks and sewerage system. No taxes may at any time be levied by the City for the payment of the Series 2022 A Bonds or the interest thereon. The above-entitled Ordinance was adopted by the Council of the City of St Albans on second reading on May 2, 2022. A certified copy of the above-entitled Ordinance is on file with the City Clerk for review by interested parties during regular office hours. Following said public hearing, the City Council intends to consider enactment of said Ordinance upon final reading and placement of such Ordinance into effect if such action appears to be appropriate after taking into consideration the comments and suggestions made at the public hearing. Veronica Westfall City Clerk LC-128257 5-03,10;2022