NOTICE OF PUBLIC HEARING
ON THE TOWN OF ALDERSON
BOND ORDIANANCE
A public hearing will be held on the following-entitled Ordinance at a regular meeting of the Council of the Town of Alderson (the “Town”) to be held on Thursday, March 10 2016, at 7:00 PM, at Town Hall, Alderson, 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 ACQUISITION AND CONTRUCTION OF CERTAIN EXTENSIONS, ADDITIONS, BETTERMENTS AND IMPROVEMENTS TO THE EXISTING PUBLIC SEWERAGE SYSTEM OF THE TOWN OF ALDERSON AND THE FINANCING OF THE COST THEREOF, NOT OTHERWISE PROVIDED, THROUG THE ISSUANCE BY THE TOWN OF ALDERSON OF NOT MORE THAN $4,200,000 IN ORIGINAL AGGR-EGATE PRINCIPAL AMOUNT OF SEWER REVENUE BONDS, SERIES 2016 A (WEST VIRGINIA INFRASTRUCTURE FUND); AND NOT MORE $1,000,000 IN ORIGINAL AGGREGATE PRINCIPAL AMOUNT OF SEWER REVENUE BONDS, SERIES 2016 B (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 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-entitled Ordinance was approved by the Council on February 11,2016
The above-quoted title of the Ordinance describes generally the contents thereof and the purposes of the Series 2016 Bonds contemplated thereby. The Town contemplates the issuance of the Series 2016 Bonds described in the Ordinance. The proceeds of the Series 2016 Bonds will be used: (i) to pay a portion of the costs of acquisition and construction of certain extensions, additions, betterments and improvements to the existing public sewerage system of the Issuer (the “Project”); and (ii) to pay certain costs of issuance hereof and related costs. The series 2016 Bonds are payable soley from revenues to be derived from the ownership and operation of the system of the Town. No taxes may at any time be levied for the payment of the Series 2016 Bonds or the interest thereon.
A certified copy of the above-entitled Ordinance is on file with the Council at the office of the Recorder for reveiw by interested parties during regular office hours.
Following the public hearing, the Council intends to enact the Ordinance upon final reading.
Dated: February 17, 2016
Travis Copenhaver
Mayor
(19,26fe)