NOTICE OF PUBLIC HEARING
Notice is hereby given that on Tuesday, November 2, 2021, at 11:00 a.m., prevailing time, a public hearing will be held in the City Manager’s Conference Room at the City Hall located at 1500 Chapline Street, Wheeling, West Virginia, at which time and place all parties in interest may appear before the Wheeling Municipal Building Commission (the “Building Commission”) and may be heard as to whether the following described Ordinance adopted by the Building Commission shall be put into effect.
Notice is further hereby given that on October 19, 2021, the Building Commission enacted an Ordinance authorizing and ordering the issuance of not more than $3,000,000 in aggregate principal amount of Wheeling Municipal Building Commission Lease Revenue Bonds, Series 2021 B (Center Wheeling Parking Garage Project) (the “Series 2021 B Bonds”) to finance all or a portion of the costs of the acquisition, demolition, construction, renovation, improvement, furnishing and equipping of the real estate, together with the buildings and other improvements thereon, currently known as the Center Wheeling Parking Garage, Wheeling, West Virginia, in the Ohio County, West Virginia (the “Property”) to be leased to the City and used as a parking garage (the “Project”), which Property will be purchased by the Building Commission contemporaneously with the issuance of the Series 2021 B Bonds. The Ordinance further provides for the leasing of the Property to the City by the Building Commission pursuant to a Lease Agreement between the Building Commission, as Lessor, and the City, as Lessee (the “Lease”).
The Series 2021 B Bonds will be special, limited obligations of the Building Commission payable solely from the revenues, rentals, and other monies received by the Building Commission pursuant to the Lease and any other permitted lease of the Property and other security held pursuant to a bond purchase agreement described below and will not constitute a debt or liability of The City of Wheeling, West Virginia (except as provided in the Lease) or the State of West Virginia.
The Ordinance further provides for a bond purchase agreement and/or a bond indenture and security agreement by which the Building Commission will assign to the original purchaser of the Series 2021 B Bonds or the trustee for the Series 2021 B Bonds, the right to receive rental and other payments under the Lease or other leases permitted by the bond purchase agreement, the bond indenture and security agreement, if necessary, or the deed of trust that will encumber the Property to further secure the owners of the Series 2021 B Bonds and the Building Commission will deliver the Series 2021 B Bonds in return for the purchase price thereof to be used to pay all or a portion of the costs of the Project and costs of issuing the Series 2021 B Bonds. Accordingly, the Property will initially be leased by the Building Commission to the City pursuant to the Lease.
A certified copy of the Ordinance is on file for review by interested persons during regular office hours in the office of the Clerk of The City of Wheeling, West Virginia, City Hall, 1500 Chapline Street, Wheeling, West Virginia.
Published at the direction of the Wheeling Municipal Building Commission, this 20th day of October, 2021.
Secretary, Wheeling
Municipal Building
Commission
Notice is hereby given that on Tuesday, November 2, 2021, at 11:00 a.m., prevailing time, a second public hearing will be held in the City Manager’s Conference Room at the City Hall located at 1500 Chapline Street, Wheeling, West Virginia, at which time and place all parties in interest may appear before the Wheeling Municipal Building Commission (the “Building Commission”) and may be heard as to whether the following described Ordinance adopted by the Building Commission shall be put into effect.
Notice is further hereby given that on October 19, 2021, the Building Commission enacted an Ordinance authorizing and ordering the issuance of not more than $19,500,000 in aggregate principal amount of Wheeling Municipal Building Commission Lease Revenue Bonds, Series 2021 C (Market Street Parking Garage Project) (the “Series 2021 C Bonds”) to finance all or a portion of the costs of the acquisition, demolition, construction, renovation, improvement, furnishing and equipping of the real estate, together with the buildings and other improvements thereon, currently owned by Ohio Valley ADC, Inc. located at 1104 Market Street and 1114 Market Street, Wheeling, West Virginia, in the Ohio County, West Virginia (the “Property”) to be leased to the City and used as a parking garage (the “Project”), which Property will be purchased by the Building Commission contemporaneously with the issuance of the Series 2021 C Bonds. The Ordinance further provides for the leasing of the Property to the City by the Building Commission pursuant to a Lease Agreement between the Building Commission, as Lessor, and the City, as Lessee (the “Lease”).
The Series 2021 C Bonds will be special, limited obligations of the Building Commission payable solely from the revenues, rentals, and other monies received by the Building Commission pursuant to the Lease and any other permitted lease of the Property and other security held pursuant to a bond purchase agreement described below and will not constitute a debt or liability of The City of Wheeling, West Virginia (except as provided in the Lease) or the State of West Virginia.
The Ordinance further provides for a bond purchase agreement and/or a bond indenture and security agreement by which the Building Commission will assign to the original purchaser of the Series 2021 C Bonds or the trustee for the Series 2021 C Bonds, the right to receive rental and other payments under the Lease or other leases permitted by the bond purchase agreement, the bond indenture and security agreement, if necessary, or the deed of trust that will encumber the Property to further secure the owners of the Series 2021 C Bonds and the Building Commission will deliver the Series 2021 C Bonds in return for the purchase price thereof to be used to pay all or a portion of the costs of the Project and costs of issuing the Series 2021 C Bonds. Accordingly, the Property will initially be leased by the Building Commission to the City pursuant to the Lease.
A certified copy of the Ordinance is on file for review by interested persons during regular office hours in the office of the City Clerk of The City of Wheeling, West Virginia, City Hall, 1500 Chapline Street, Wheeling, West Virginia.
Published at the direction of the Wheeling Municipal Building Commission, this 20th day of October, 2021.
Secretary, Wheeling
Municipal Building
Commission
Int. Oct. 20, 27, 2021