NOTICE OF PUBLIC HEARING ON THE
TOWN OF PAW PAW FUNDING ASSISTANCE ORDINANCE
A public hearing will be held on the following entitled Ordinance at a regular meeting of the Council of the Town of Paw Paw (the “Town”) to be held on Monday, May 6, 2024, at 7:00 pm at the Town Hall, 122 Winchester Street, Paw Paw, 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 ACQUISITION AND CONSTRUCTION OF CERTAIN IMPROVEMENTS AND EXTENSIONS TO THE EXISTING PUBLIC WASTEWATER FACILITIES OF THE TOWN OF PAW PAW, PAYMENT OF THE SERIES 2021 A BONDS, AND THE FINANCING OF THE COST THEREOF, NOT OTHERWISE PROVIDED, THROUGH THE ACCEPTANCE BY THE TOWN OF FUNDING ASSISTANCE, SERIES 2024 A IN THE AGGREGATE PRINCIPAL AMOUNT OF $1,500,000 THROUGH THE WEST VIRGINIA SRF PROGRAM; AUTHORIZING EXECUTION AND DELIVERY OF ALL DOCUMENTS RELATING TO ACCEPTANCE OF SUCH FUNDING; APPROVING, RATIFYING AND CONFIRMING THE FUNDING ASSISTANCE AGREEMENT RELATING TO SUCH FUNDING ASSISTANCE, SERIES 2024 A.
The above quoted title of the Ordinance describes generally the contents thereof and the purposes of the Funding Assistance, Series 2024 A contemplated thereby. The Town contemplates the issuance of the Funding Assistance, Series 2024 A described in the Ordinance. The proceeds of the Funding Assistance, Series 2024 A will be used to (i) pay the Prior Bonds; (ii) pay a portion of the costs of certain improvements and extensions to the existing public sewer system of the Town and (iii) pay certain costs of issuance of the Funding Assistance, Series 2024 A and related costs. The Funding Assistance, Series 2024 A is provided through a principal forgiveness loan. No taxes may at any time be levied by the Town for the payment of the Funding Assistance, Series 2024 A.
The above-entitled Ordinance was adopted by the Council of the Town of Paw Paw on April 16, 2024. 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 Council intends to enact the Ordinance upon final reading.
/s/ Ron Davis Town Clerk