Source: December 22, 2014 Read More →

NOTICE OF PUBLIC HEARING ON THE CITY OF RONCEVERTE BOND ORDINANCE

NOTICE OF PUBLIC HEARING
ON THE
CITY OF RONCEVERTE
BOND ORDINANCE
A public hearing will be held on the following-entitled Ordinance at a regular meeting of the Council of the City of Ronceverte (the “City”) to be held on Monday, January 5, 2015, at 7:00 p.m., at City Hall, 200 West Main Street, Ronceverte, 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 PAYMENT OF THE PRIOR NOTES AND THE ACQUISITION AND CONSTRUCTION OF CERTAIN EX-TENSIONS, ADDITIONS, BETTER-MENTS AND IMPROVEMENTS TO THE EXISTING PUBLIC SEWER-AGE SYSTEM OF THE CITY OF RONCEVERTE AND THE FINAN-CING OF THE COST THEREOF, NOT OTHERWISE PROVIDED, THROUGH THE ISSUANCE BY THE CITY OF RONCEVERTE OF NOT MORE THAN $20,800,000 IN ORIGINAL AGGREGATE PRINCIPAL AMOUNT OF SEWER REVENUE BONDS, SERIES 2015 A (WEST VIRGINIA SRF PROGRAM), AND NOT MORE THAN $1,000,000 IN ORIGINAL AGGREGATE PRINCIPAL AMOUNT OF SEWER REVENUE BONDS, SERIES 2015 B (WEST VIRGINIA SRF PROGRAM); PROVIDING FOR THE RIGHTS AND REMEDIES OF AND SECURITY FOR THE REGISTERED OWNERS OF SUCH BONDS; AUTHORIZING EXECU-TION AND DELIVERY OF ALL DOCUMENTS RELATING TO THE ISSUANCE OF SUCH BONDS; APPROVING, RATIFYING AND CONFIRMING A BOND PURCHASE 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-entitled ordinance was approved by the Council on December 8, 2014.
The above-quoted title of the Ordinance describes generally the contents thereof and the purposes of the Series 2015 Bonds contemplated thereby.  The City contemplates the issuance of the Series 2015 Bonds described in the Ordinance.  The proceeds of the Series 2015 Bonds will be used to (i) pay the Issuer’s Prior Notes, (ii) fund the Series 2015 Bonds Reserve Account, and (iii) pay certain costs of issuance of the Series 2015 Bonds and related costs.  The Series 2015 Bonds are payable solely from revenues to be derived from the ownership and operation of the system of the City.  No taxes may at any time be levied for the payment of the Series 2015 Bonds or the interest thereon.
A certified copy of the above-entitled Ordinance is on file with the Council at the office of the Recorder for review by interested parties during regular office hours.
Following the public hearing, the Council intends to enact the Ordinance upon final reading.
A second public hearing will be held on the following-entitled Ordi-nance at a regular meeting of the Council of the City to be held on Monday, January 5, 2015, at 7:10 p.m., at City Hall, 200 West Main Street, Ronceverte, 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:
NOTE ORDINANCE AUTHORIZING THE ACQUISITION AND CON-STRUCTION OF CERTAIN EXTEN-SIONS, ADDITIONS, BETTER-MENTS AND IMPROVEMENTS TO THE PUBLIC SEWERAGE FACILI-TIES OF THE CITY OF RONCE-VERTE AND THE FINANCING OF THE COST THEREOF, NOT OTHERWISE PROVIDED, THROUGH THE ISSUANCE BY THE CITY OF RONCEVERTE OF NOT MORE THAN $1,500,000 IN ORIGINAL AGGREGATE PRINCIPAL AMOUNT OF  SEWER GRANT ANTICIPATION NOTES, SERIES 2015 (WEST VIRGINIA WATER DEVELOPMENT AUTHORITY), PROVIDING FOR THE RIGHTS AND REMEDIES OF AND SECURITY FOR THE REGISTERED OWNERS OF SUCH NOTES; AUTHORIZING EXECU-TION AND DELIVERY OF ALL DOCUMENTS RELATING TO THE ISSUANCE OF SUCH NOTES; APPROVING, RATIFYING AND CONFIRMING A LOAN AGREE-MENT 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-entitled Ordinance was approved by the Council on December 8, 2014.
The above-quoted title of the Ordinance describes generally the contents thereof and the purposes of the Series 2015 Notes contemplated thereby.  The City contemplates the issuance of the Series 2015 Notes described in the Ordinance.  The proceeds of the Series 2015 Notes will be used to (i) temporarily pay a portion of the costs of acquisition and construction of certain additions, betterments, improvements and extensions to the existing public sewerage facilities of the Issuer; and (ii) pay certain costs of issuance and related costs.  The Series 2015 Notes are payable solely from revenues to be derived from the ownership and operation of the system of the City.  No taxes may at any time be levied for the payment of the Series 2015 Notes or the interest thereon.
A certified copy of the above_entitled Ordinance is on file with the Council at the office of the Recorder for review by interested parties during regular office hours.
Following the public hearing, the Council intends to enact the Ordinance upon final reading.
Dated: December 18, 2014.
/s/ Reba Mohler
City Manager
(22,29de)