NOTICE OF
PUBLIC HEARING
ON THE PROPOSED
ISSUANCE OF TAX-
EXEMPT OBLIGATION OF THE
BERKELEY COUNTY FIRE SERVICE
BOARD, INC.
Notice is hereby given that The County Council of Berkeley County (the “County Council”) will meet on Thursday,
December 12, 2019, at 11:00 a.m., in the County Council Meeting Room, Room 205, 400 West Stephen Street, Martinsburg, West Virginia, for the purpose of holding a public hearing pursuant to the requirements of Section 147(f) of the Internal Revenue Code of 1986, as amended (the “Code”), on a proposal that the Berkeley County Fire
Service Board, Inc., a
corporation created by The County Commission of Berkeley County, now the County Council (the “Fire Board”), enter into a loan agreement and in connection therewith issue its promissory note in an aggregate principal amount not to exceed $5,000,000 (the “Note”). The interest on the Note will be excludable from the gross income of the owner(s) thereof for federal income tax purposes pursuant to Section 103 of the Code. The proceeds of the Note will be used to (i) finance costs of the purchase and acquisition of a lot or parcel of land containing 2.7 acres, more or less, at the intersection of New York Avenue and West Virginia Route 45; at or near the property that had an address of 1647 New York Avenue, Martinsburg, West Virginia (the
“Property”) and/or costs relating to the purchase, acquisition, construction and landscaping of a new one-story building containing approximately
17,000 square feet and
related infrastructure located on the Property for use by the Fire Board and/or Baker Heights Volunteer Fire Department, Inc., a West Virginia nonprofit corporation that is exempt from federal income tax under Section 501(a) of the Code, as an organization described in Section 501(c)(3) of the Code (the “Fire Department”), and
(ii) pay issuance and
related costs.
The Fire Board anticipates acquiring the Property
early in calendar year 2020 and further anticipates that it will continue to be the owner of the Property after such acquisition. The Fire Department will occupy and operate the Property as its main station for its fire and rescue services, which station will include vehicle, office and administrative space, bunkrooms, employee and volunteer lounge areas, meeting space, a kitchen and/or community center. The payments due pursuant to the loan agreement and the Note will be payable by the Fire Board from fire service fees received by the Fire Board and will be secured by a first lien on the Property.
All interested persons are invited to attend the public hearing and express their views, both orally and in writing, regarding the Note and the location and nature of the property to be financed, purchased,
acquired, constructed and landscaped with the proceeds of the Note. Written comments may also be submitted to the County Council prior to the public hearing addressed to The County Council of Berkeley County, Suite 201, 400 West Stephen Street, Martinsburg,
West Virginia 25401,
Attention: President.
THE COUNTY COUNCIL
OF BERKELEY COUNTY
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