Legal Notices

NOTICE OF PUBLIC HEARING ON THE CITY OF CHARLESTON BOND ORDINANCE A public hearing will be held on the below-entitled Ordinance at a regular meeting of the City Council of the City of Charleston (the “City Council”) to be held on Monday, May 17, 2021, at 7:00 p.m. at the Charleston Coliseum and Convention Center, West Hall 1, Charleston, West Virginia. At such hearing, any person interested may appear before the City Council and present protests, and all protests and suggestions shall be heard by the City Council and it shall then take such actions as it shall deem proper in the premises upon an Ordinance entitled: AN ORDINANCE AUTHORIZING THE ISSUANCE OF SALES TAX REFUNDING REVENUE BONDS (COLISEUM AND CONVENTION CENTER PROJECT), SERIES 2021, IN ONE OR MORE SERIES, ON A TAX-EXEMPT OR TAXABLE BASIS, IN AN AGGREGATE PRINCIPAL AMOUNT OF NOT MORE THAN $50,000,000 (THE “2021 BONDS”) BY THE CITY OF CHARLESTON (THE “ISSUER”), THE PROCEEDS OF WHICH SHALL BE EXPENDED TO REFUND ALL OR A PORTION OF THE ISSUER’S SALES TAX REVENUE BONDS (CIVIC CENTER PROJECT), SERIES 2015 (THE “2015 BONDS”), TO FUND A RESERVE FUND PLEDGED TO THE PAYMENT OF THE 2021 BONDS, IF NECESSARY, AND TO PAY COSTS OF ISSUANCE IN CONNECTION WITH THE 2021 BONDS; PROVIDING PARAMETERS FOR THE PRINCIPAL AMOUNTS, MATURITIES, INTEREST RATES AND OTHER TERMS OF THE 2021 BONDS; AUTHORIZING THE EXECUTION AND DELIVERY OF A FIRST SUPPLEMENTAL INDENTURE MODIFYING CERTAIN TERMS OF THE 2015 BONDS WITH THE CONSENT OF THE HOLDERS THEREOF; AUTHORIZING THE EXECUTION AND DELIVERY OF A SECOND SUPPLEMENTAL INDENTURE IN CONNECTION WITH THE ISSUANCE OF THE 2021 BONDS AND ANY OTHER DOCUMENTS RELATING THERETO; PROVIDING PARAMETERS FOR THE TERMS OF THE 2021 BONDS; AUTHORIZING EXECUTION AND DELIVERY OF OTHER DOCUMENTS, INSTRUMENTS, CERTIFICATES AND AGREEMENTS AND THE TAKING OF ALL OTHER ACTIONS RELATING TO THE ISSUANCE OF THE 2021 BONDS. The above-quoted title of the Ordinance describes generally the contents thereof and the purposes of the 2021 Bonds contemplated thereby. The City of Charleston (the “Issuer”) contemplates the issuance of the 2021 Bonds, in one or more series, as described in the Ordinance. The aggregate proceeds of the 2021 Bonds will be used to (i) refund all or a portion of the 2015 Bonds for debt service savings, (ii) fund a reserve fund for the 2021 Bonds, if necessary, and (iii) pay costs of issuance of the 2021 Bonds. The 2021 Bonds shall be payable solely from and secured solely by a lien on the Issuer’s Municipal Sales Tax Revenues deposited in the City Sales and Use Tax Fund in the City Treasury. Other than the Municipal Sales Tax, no taxes may at any time be levied for the payment of the principal of or interest on the 2021 Bonds. The above-entitled Ordinance was introduced on first reading to the City Council on April 19, 2021 and was presented on second reading and enacted on May 3, 2021. 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 the public hearing, the City Council intends to adopt a Resolution making the Ordinance effective. /s/ Miles Cary Clerk LC-109595 05-4,11;2021