NOTICE OF PUBLIC HEARING ON THE
CITY OF CHARLES TOWN BONDS ORDINANCE
A public hearing will be held on the following entitled Ordinance at a regular meeting of the Council of the City of Charles Town (the “City”) to be held on Monday, July 18, 2016, at 7:00 p.m. at the City Hall, Charles Town, West Virginia, and at such hearing any person interested may appear before the City and present protests, and all protests and suggestions shall be heard by the City and it shall then take such actions as it shall deem proper in the premises upon an Ordinance entitled:
CITY OF CHARLES TOWN
AN ORDINANCE AUTHORIZING THE ACQUISITION AND CONSTRUCTION OF CERTAIN ADDITIONS, BETTERMENTS AND IMPROVEMENTS TO THE SEWERAGE PORTION OF THE EXISTING COMBINED WATERWORKS AND SEWERAGE SYSTEM OF THE CITY OF CHARLES TOWN AND THE FINANCING OF THE COST THEREOF, NOT OTHERWISE PROVIDED, THROUGH THE ISSUANCE BY THE CITY OF NOT MORE THAN $5,000,000 IN AGGREGATE PRINCIPAL AMOUNT OF COMBINED WATERWORKS AND SEWERAGE SYSTEM REVENUE BONDS, SERIES 2016 B (TAX EXEMPT); PROVIDING FOR THE RIGHTS AND REMEDIES OF, AND THE SECURITY FOR, THE REGISTERED OWNERS OF SUCH BONDS; AUTHORIZING THE EXECUTION AND DELIVERY OF A BOND PURCHASE AGREEMENT, A CONTINUING DISCLOSURE AGREEMENT AND OTHER DOCUMENTS RELATING TO THE BONDS; AND ENACTING OTHER PROVISIONS WITH RESPECT TO SUCH BONDS.
The above quoted title of the Ordinance describes generally the contents thereof and the purposes of the Series 2016 B Bonds contemplated thereby. The City contemplates the issuance of the Series 2016 B Bonds described in the Ordinance. The proceeds of the Series 2016 B Bonds will be used (i) to finance the cost of acquisition and construction of certain additions, betterments and improvements to the sewerage portion of the combined waterworks and sewerage system of the Issuer, (ii) to fund a reserve account for the Series 2016 B Bonds, and (iii) to pay certain costs of issuance of the Series 2016 B Bonds and related costs. The Series 2016 B Bonds are payable solely from revenues to be derived from the ownership and operation of the system of the City.
The above-entitled Ordinance was adopted by the Council of the City of Charles Town on June 6, 2016. A certified copy of the above entitled Ordinance is on file with the City for review by interested parties during regular office hours.
Following the public hearing, the City intends to enact the Ordinance upon final reading.
/s/ Peggy A. Smith
Mayor