NOTICE OF
PUBLIC
HEARING ON
THE TOWN OF
FRANKLIN BOND
ORDINANCE
A public hearing will be held on the following entitled Ordinance at a regular meeting of the Council of The Town of Franklin (the “Town”) to be held on Tuesday, November 10, 2020, at 6:00 p.m., at Town Hall, Franklin, 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 action as it shall deem proper in the premises upon an Ordinance entitled:
ORDINANCE AUTHORIZING THE DESIGN AND OTHER PRE-CONSTRUCTION OF CERTAIN EXTENSIONS, ADDITIONS, BETTERMENTS AND IMPROVEMENTS TO THE EXISTING PUBLIC WATERWORKS SYSTEM OF THE TOWN OF FRANKLIN AND THE FINANCING OF THE COST THEREOF, NOT OTHERWISE PROVIDED, THROUGH THE ISSUANCE BY THE TOWN OF FRANKLIN OF NOT MORE THAN $200,000 IN ORIGINAL AGGREGATE PRINCIPAL AMOUNT OF WATERWORKS DESIGN REVENUE BONDS, SERIES 2020 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 Town contemplates the issuance of the Bonds described in the Ordinance. The proceeds of the Bonds will be used to (i) to pay a portion of the costs of design of certain extensions, additions, betterments and improvements to the existing public waterworks system of the Issuer (the “Design Project”); and (ii) to pay certain costs of issuance hereof and related costs. The Bonds are payable solely from revenues to be derived from the ownership and operation of the potable waterworks system of the Town. 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 Town of Franklin on October 13, 2020. 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.
Dated: October 20, 2020.
/s/ Frank Wehrle
Clerk
10-29-2c