NOTICE OF PUBLIC HEARING ON THE
TOWN OF PADEN CITY NOTE ORDINANCE
A public hearing will be held on the followingentitled
Ordinance at a regular meeting of the Council of the
Town of Paden City (the “Town”) to be held on Monday,
December 6, 2021, at 7:00 p.m. at the Town Hall,
Paden City, West Virginia, and at such hearing any
person interested may appear 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 OF
IMPROVEMENTS AND EXTENSIONS TO THE
EXISTING PUBLIC SEWERAGE SYSTEM AND
TEMPORARILY FINANCING OF THE COST
THEREOF, NOT OTHERWISE PROVIDED, AND
PAYING COSTS OF ISSUANCE AND RELATED
COSTS, THROUGH THE ISSUANCE OF THE SEWER
REVENUEGRANT ANTICIPATION NOTE, SERIES
2021 (BANK QUALIFIED) OF THE TOWN OF PADEN
CITY IN THE AGGREGATE PRINCIPAL AMOUNT OF
NOT MORE THAN $600,000; PROVIDING FOR THE
RIGHTS AND REMEDIES OF, AND THE SECURITY
FOR, THE REGISTERED OWNER OF SUCH NOTE;
AUTHORIZING THE EXECUTION AND DELIVERY OF
A TAX CERTIFICATE, A TAX COMPLIANCE POLICY
AND OTHER DOCUMENTS; AUTHORIZING THE
SALE AND PROVIDING FOR THE TERMS AND
PROVISIONS OF SUCH NOTE AND ADOPTING
OTHER PROVISIONS RELATING THERETO.
The abovequoted title of the Ordinance describes
generally the contents thereof and the purposes of the
Notes contemplated thereby. The Town contemplates
the issuance of the Notes described in the Ordinance.
The proceeds of the Notes will be used (i) to temporarily
pay the costs of acquisition and construction of the
Project as defined in the Ordinance, and (ii) to pay
certain costs of issuance of the Series 2021 Note and
related costs. The Notes are payable from: (i) the
proceeds of bonds proposed to be issued in the future to
permanently finance the Project; and (ii) Surplus
Revenues of the System. No taxes may at any time be
levied for the payment of the Notes or the interest
thereon.
The above-entitled Ordinance was adopted by the
Council of the Town of Paden City on November 1,
2021. A certified copy of the aboveentitled Ordinance 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.
Sheila Ervin
Recorder
Steptoe & Johnson PLLC
WC 11/24 12/01 15082