NOTICE OF PUBLIC HEARING ON THE
TOWN OF RIVESVILLE BOND ORDINANCE
A public hearing will be held on the following?entitled Ordinance at a regular meeting of the Council of the Town of Rivesville (the “Town”) to be held on Tuesday, October 1, 2019, at 7:00 p.m. at the Town Hall, Rivesville, 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:
TOWN OF RIVESVILLE
ORDINANCE AUTHORIZING THE DESIGN OF CERTAIN EXTENSIONS, ADDITIONS, BETTERMENTS AND IMPROVEMENTS TO THE WATER SYSTEM OF THE TOWN OF RIVESVILLE AND THE FINANCING OF THE COST THEREOF, NOT OTHERWISE PROVIDED, THROUGH THE ISSUANCE BY THE TOWN OF RIVESVILLE OF NOT MORE THAN $150,000 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 quoted title of the Ordinance describes generally the contents thereof and the purposes of the Notes contemplated thereby. The Town contemplates the issuance of the Notes described in the Ordinance. The proceeds of the Notes will be used (i) to temporarily pay a portion of the costs of the design of certain additions, betterments, improvements and extensions to the existing water system of the Issuer; (ii) to pay capitalized interest on this Note; and (iii) to pay certain costs of issuance and related costs. The Notes are payable solely from (i) the proceeds of a grant or grants made available to the Issuer subsequent to the issuance of the Notes to permanently finance the Costs of the Project; (ii) the proceeds of any revenue bonds, refunding bonds, bond anticipation notes or other obligations of the Issuer, issued subsequent to the issuance of the Notes to permanently finance the Costs of the Project; and (iii) Surplus Revenues of the System. No taxes may at any time be levied for the payment of the Notes or the interest thereon.
The above-entitled Ordinance was adopted by the Council of the Town of Rivesville on September 3, 2019. 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.
/s/ Yvonne Liberto
Mayor
Times: September 17, 24, 2019
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