Source: October 1, 2015 Read More →

NOTICE OF PUBLIC HEARING

NOTICE OF PUBLIC HEARING ON THE TOWN OF SOPHIA BOND ORDINANCE A public hearing will be held on the following entitled Ordinance at a regular meeting of the Council of the Town of Sophia (the “Town”) to be held on Thursday, October 15, 2015, at 7:00 p.m. at the Town of Sophia, Town Hall, Sophia, 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 ISSUANCE BY THE TOWN OF SOPHIA OF NOT MORE THAN $1,000,000 IN AGGREGATE PRINCIPAL AMOUNT OF SEWERAGE SYSTEM DESIGN BOND ANTICIPATION NOTES, SERIES 2015 A, FOR THE PURPOSES OF TEMPORARILY FINANCING THE COSTS OF DESIGN OF, AND OTHER PRE-PROJECT COSTS FOR, IMPROVEMENTS AND EXTENSIONS TO THE EXISTING PUBLIC SEWERAGE FACILITIES OF THE TOWN AND COSTS OF ISSUANCE OF THE NOTES; PROVIDING FOR THE RIGHTS AND REMEDIES OF AND SECURITY FOR THE REGISTERED OWNERS OF SUCH NOTES; AUTHORIZING THE SALE AND PROVIDING FOR THE TERMS AND PROVISIONS OF SUCH NOTES; AND ENACTING OTHER PROVISIONS WITH RESPECT THERETO. The above quoted title of the Ordinance describes generally the contents thereof and the purposes of the Bonds contemplated thereby. The Town contemplates the issuance of the Bonds described in the Ordinance. The proceeds of the Bonds will be used to (i) to temporarily finance a portion of the costs of design and other preliminary costs of certain betterments and improvements to the existing public sewerage system of the Issuer (the “Design Project” ); and (ii) to pay the costs of issuance hereof and related costs. The Bonds are payable solely from future revenue bond proceeds, Construction Project grant proceeds and Surplus Revenues of the system of the Town. No taxes may at any time be levied for the payment of the Bonds or the interest thereon. The above-entitled Ordinance was adopted by the Council of the Town of Sophia on September 17, 2015. 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 Town intends to enact the Ordinance upon final reading. Dated: September 24, 2015 /s/ Danny Barr Mayor 10-8-THU-2-RH L 3485