Source: February 26, 2015 Read More →

NOTICE OF PUBLIC HEARING

NOTICE OF PUBLIC

HEARING ON THE

CITY OF VIENNA BOND

ORDINANCE

 

A public hearing will be held on the following-entitled Ordinance at a regular meeting of the Council of the City of Vienna (the âCityã) to be held on Thursday, March 12, 2015, at 7:00 p.m. at the City Hall, 609 29th Street, Vienna, West Virginia, and at such hearing any person interested may appear before the City and present protests, and all protests and suggestions shall be heard by the City 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 EXTENSIONS, ADDITIONS, BETTERMENTS AND IMPROVEMENTS TO THE WATER PORTION OF THE EXISTING PUBLIC COMBINED UTILITY SYSTEM OF THE CITY OF VIENNA AND THE FINANCING OF THE COST, NOT OTHERWISE PROVIDED, THEREOF THROUGH THE ISSUANCE BY THE CITY OF NOT MORE THAN $1,750,000 IN AGGREGATE PRINCIPAL AMOUNT OF COMBINED UTILITY SYSTEM REVENUE BONDS, SERIES 2015 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 Bonds contemplated thereby. The City contemplates the issuance of the Bonds described in the Ordinance.  The proceeds of the Bonds will be used to (i) to pay the costs of acquisition and construction of certain extensions, additions, betterments and improvements to the water portion of the existing public combined utility system of the Issuer (the âProjectã); and (ii) to pay certain costs of issuance hereof and related costs. The Bonds are payable from the revenues derived from the System. 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 City of Vienna on January 29, 2015. 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 City intends to enact the Ordinance upon final reading.

 

/s/ Randall Rapp

Mayor

 

 

Feb 26, Mar 5