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NOTICE OF PUBLIC HEARING

NOTICE OF PUBLIC HEARING

CORPORATION OF SHEPHERDSTOWN

NOTICE OF PUBLIC HEARING

ON WATER REVENUE BOND ORDINANCE

A public hearing will be held on the following entitled Ordinance at a regular meeting of the Council of the Corporation of Shepherdstown to be held on Tuesday, May 9, 2017, at 6:30 p.m., in the Council Chambers at the Shepherdstown Town Hall, 104 North King Street, Shepherdstown, 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 ISSUANCE BY THE CORPORATION OF SHEPHERDSTOWN OF WATER REVENUE BONDS, SERIES 2017 IN THE AGGREGATE PRINCIPAL AMOUNT OF NOT MORE THAN $3,500,000, FOR THE PURPOSES OF FINANCING COSTS OF CERTAIN EXTENSIONS, ADDITIONS, BETTERMENTS AND IMPROVEMENTS TO THE WATER SYSTEM OF THE CORPORATION OF SHEPHERDSTOWN, FUNDING A DEBT SERVICE RESERVE FUND FOR THE SERIES 2017 BONDS AND PAYING THE COSTS OF ISSUANCE THEREOF; AUTHORIZING SAID EXTENSIONS, ADDITIONS, BETTERMENTS AND IMPROVEMENTS; PROVIDING AS TO THE TERMS AND PROVISIONS OF THE BONDS; AUTHORIZING THE EXECUTION AND DELIVERY OF A BOND PURCHASE AGREEMENT, A CONTINUING DISCLOSURE AGREEMENT AND OTHER DOCUMENTS; AUTHORIZING AND APPROVING THE SALE AND DELIVERY OF SUCH BONDS; AUTHORIZING THE DISTRIBUTION OF A PRELIMINARY OFFICIAL STATEMENT AND THE EXECUTION AND DELIVERY OF AN OFFICIAL STATEMENT; DESIGNATING A REGISTRAR AND PAYING AGENT; PROVIDING FOR THE RIGHTS AND REMEDIES OF AND SECURITY FOR THE REGISTERED OWNERS OF SUCH BONDS; AND ADOPTING OTHER PROVISIONS WITH RESPECT THERETO.

The above-entitled Ordinance was adopted by the Council of the Corporation of Shepherdstown on April 18, 2017.

The above-quoted title of the Ordinance describes generally the contents thereof and the purposes of the Bond issue contemplated thereby.  The Corporation of Shepherdstown contemplates the issuance of the Bonds described in said Ordinance. The proceeds of the Bonds will be used to provide permanent financing for all or a portion of the costs of acquisition and construction of certain extensions, additions, betterments and improvements to the waterworks system of the Corporation of Shepherdstown, including without limitation the acquisition and installation of a new twelve-inch high service water line to Shepherdstown’s two water storage tanks.  The Bonds are payable solely from revenues derived from the ownership and operation of the waterworks system of the Corporation of Shepherdstown.  No taxes may at any time be levied for the payment of the Bonds or the interest thereon.

A certified copy of the above-entitled Ordinance is on file at the office of the Town Clerk of the Corporation of Shepherdstown at the Town Hall, 104 North King Street, Shepherdstown, West Virginia for review by interested parties during regular office hours of the Town Clerk.

Following the said public hearing, the Council of the Corporation of Shepherdstown intends to enact said Ordinance upon final reading.

Dated:  April 26, 2017.

/s/ Lori Robertson, Recorder