NOTICE OF PUBLIC HEARING ON THE
TOWN OF TRIADELPHIA BOND ORDINANCE
A public hearing will be held on the following-entitled Ordinance at a regular meeting of the Council of the Town of Triadelphia (the “Town”) to be held on Wednesday, May 15, 2024 at 6:45pm at the Town Hall, 4453 National Road, Triadelphia, 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 AND CONSTRUCTION OF ADDITIONS, BETTERMENTS AND IMPROVEMENTS TO THE EXISTING PUBLIC WATERWORKS SYSTEM OF THE TOWN OF TRIADELPHIA AND THE FINANCING OF THE COST, NOT OTHERWISE PROVIDED, THEREOF THROUGH THE ISSUANCE BY THE TOWN OF TRIADELPHIA OF NOT MORE THAN $3,000,000 IN ORIGINAL AGGREGATE PRINCIPAL AMOUNT OF WATER REVENUE BONDS, SERIES 2024 A (WEST VIRGINIA DWTRF PROGRAM); AND NOT MORE THAN $1,500,000 IN ORIGINAL AGGREGATE PRINCIPAL AMOUNT OF WATER REVENUE BONDS, SERIES 2024 B (WEST VIRGINIA DWTRF PROGRAM/FORGIVABLE); PROVIDING FOR THE RIGHTS AND REMEDIES OF AND SECURITY FOR THE REGISTERED OWNERS OF SUCH BONDS; AUTHORIZING EXECUTION AND DELIVERY OF ALL DOCUMENTS RELATING TO THE ISSUANCE OF SUCH BONDS; APPROVING, RATIFYING AND CONFIRMING A LOAN 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-quoted title of the Ordinance describes generally the contents thereof and the purposes of the Bonds contemplated thereby. The Town contemplates the issuance of the Bonds described in the Ordinance. The proceeds of the Bonds will be used to (i) pay a portion of the costs of acquisition and construction of improvements and extensions to the existing public waterworks system of the Town (the “Project”); and (ii) pay costs of issuance and related costs. The Bonds are payable from the Gross Revenues to be derived from the ownership and operation of the waterworks system of the Town. No taxes may at any time be levied for the payment of the Bonds or the interest thereon.
The above-entitled Ordinance was adopted by the Council of the Town of Triadelphia on May 1, 2024. A certified copy of the above-entitled 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.
Dated: May 2, 2024
/s/ Kenneth Murphy
Mayor
Int. May 3, 10, 2024