Marion

NOTICE OF PUBLIC HEARING OF TOWN OF MONONGAH NOTE ORDINANCE

NOTICE OF PUBLIC HEARING
OF TOWN OF
MONONGAH NOTE
ORDINANCE
A public hearing will be held on the following entitled Ordinance at a meeting of the Council of the Town of Monongah (the “Town”) to be held Monday, September 9, 2019, at 6:30, p.m., at the Monongah Town Hall, 430 Bridge Street, Monongah, 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 actions as it shall deem proper in the premises upon an Ordinance entitled:
ORDINANCE AUTHORIZING THE DESIGN OF CERTAIN EXTENSIONS, ADDITIONS, BETTERMENTS AND IMPROVEMENTS TO THE EXISTING PUBLIC SEWERAGE SYSTEM OF THE TOWN OF MONONGAH AND THE FINANCING OF THE COST THEREOF, NOT OTHERWISE PROVIDED, THROUGH THE ISSUANCE BY THE TOWN OF MONONGAH OF NOT MORE THAN $450,000.00 IN ORIGINAL AGGREGATE PRINCIPAL AMOUNT OF CONSTRUCTION ANTICIPATION NOTES, SERIES 2019 A (WEST VIRGINIA WATER DEVELOPMENT AUTHORITY), PROVIDING FOR THE RIGHTS AND REMEDIES OF AND SECURITY FOR THE OWNERS OF SUCH NOTES; AUTHORIZING EXECUTION AND DELIVERY OF ALL DOCUMENTS RELATING TO THE ISSUANCE OF SUCH NOTES; APPROVING, RATIFYING AND CONFIRMING A LOAN AGREEMENT RELATING TO SUCH NOTES; AUTHORIZING THE SALE AND PROVIDING FOR THE TERMS AND PROVISIONS OF SUCH NOTES AND ADOPTING OTHER PROVISIONS RELATING THERETO.
The above-entitled Ordinance was adopted by the Council of the Town on August 26, 2019.
The above quoted title of the Ordinance describes generally the contents thereof and the purposes of the Note issue contemplated thereby. The Town contemplates the issuance of the Notes described in said Ordinance. The proceeds of the Notes will be used to pay a portion of the costs of design of certain extensions, additions, betterments and improvements to the existing public sewer system of the Town (the “Project”) and to pay costs of issuance and related costs. The Notes are payable solely from the proceeds of grants, revenue bonds, refunding bonds, bond anticipation notes or other obligations received by the Town subsequent to the issuance of the Notes to temporarily or permanently finance all or a portion of the costs of the Project and Surplus Revenues derived from the ownership and operation of the sewer system of the Town. No taxes may at any time be levied for the payment of the Notes or the interest thereon.
A certified copy of the above-entitled Ordinance is on file with the Council at the office of the Town Clerk at the Monongah Town Hall, 430 Bridge Street, Monongah, West Virginia, for review by interested parties during regular office hours.
Following the said public hearing, the Council intends to enact said Ordinance on final reading and to put said Ordinance into effect.
Dated: August 29, 2019.
/s/ Carol Brooks,
Town Clerk
Times: August 29, September 5, 2019