NOTICE OF PUBLIC HEARING ON
THE CITY OF ELKINS BOND ORDINANCE
A public hearing will be held on the following-entitled Ordinance at a regular meeting of the Council of The City of Elkins (the “City”) to be held on Thursday, September 3, 2020, at 7:00 pm via teleconference which teleconference login information is available on the City of Elkins web site, www.cityofelkinswv.com/login, and at such hearing any person interested may present protests, and suggestions to City Council and shall be heard by the City 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 CERTAIN EXTENSIONS, ADDITIONS, BETTERMENTS AND IMPROVEMENTS TO THE EXISTING PUBLIC SEWERAGE SYSTEM OF THE CITY OF ELKINS AND THE FINANCING OF THE COST THEREOF, NOT OTHERWISE PROVIDED, THROUGH THE ISSUANCE BY THE CITY OF ELKINS OF NOT MORE THAN $4,964,800 IN ORIGINAL AGGREGATE PRINCIPAL AMOUNT OF SEWER REVENUE BONDS, SERIES 2020 A (WEST VIRGINIA SRF PROGRAM); 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 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 City 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 certain additions, improvements and extensions to the existing public sewerage system of the Issuer (the “Project”); and (ii) pay costs of issuance and other related costs. The 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 Bonds or the interest thereon.
The above-entitled Ordinance was adopted by the Council of The City of Elkins on August 6, 2020. A certified copy of the above-entitled Ordinance is on file with the City for review by interested parties during regular office hours.
Following the public hearing, the City intends to enact the Ordinance upon final reading.
Dated: August 21, 2020.
/s/ Jessica Sutton
Clerk
8-21, 8-28