NOTICE OF PUBLIC HEARING
TOWN OF RUPERT BOND ORDINANCE
A public hearing will be held on the following-entitled Ordinance at a regular meeting of the Council of the Town of Rupert (the “Town”) to be held on Thursday, January 12, 2017, at 6:00 p.m. at the Town of Rupert, Town Hall, Rupert, West Virginia, and at such hearing any person interested may ap-pear 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 ADDITIONS, BETTERMENTS AND IMPROVEMENTS TO THE EXISTING PUBLIC WATERWORKS FACILITIES OF THE TOWN OF RUPERT, AND THE FINANCING OF THE COST, NOT OTHERWISE PROVIDED THEREOF, THROUGH THE ISSUANCE BY THE TOWN OF NOT MORE THAN $694,000 IN AGGREGATE PRINCIPAL AMOUNT OF WATER REVENUE BONDS, SERIES 2017 A (UNITED STATES DEPARTMENT OF AGRICULTURE) IN ONE OR MORE SERIES; DEFINING AND PRESCRIBING THE TERMS AND PROVISIONS OF THE BONDS; PROVIDING GENE-RALLY FOR THE RIGHTS AND REMEDIES OF AND SECURITY FOR THE HOLDER OF THE BONDS; AND PROVIDING WHEN THIS ORDINANCE SHALL TAKE EFFECT.
The above-quoted title of the Ordinance describes generally the con-tents 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) pay the costs of acquisition and construction of certain additions, betterments and improvements to the existing water-works system of the Issuer (the “Project”); and (ii) pay certain costs of issuance and related costs. This Bond is payable only from and secured by a pledge of the Gross Revenues to be derived from the operation of the System of the Town. No taxes may at any time be levied for the payment of the Bond or the interest thereon.
The above-entitled Ordinance was adopted by the Council of the Town of Rupert on December 8, 2016. A certified copy of the above-entitled Ordi-nance 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.
Jim Nichols
Mayor
(29dec,5ja)
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