NOTICE OF PUBLIC HEARING ON THE
THE CITY OF
WHEELING ORDINANCE A public hearing will be held on the following entitled Ordinance at a regular meeting of the Council of The City of Wheeling (the “City”) to be held on Tuesday, July 20, 2021, at 5:30 p.m. in City Council Chambers at the City- County Building, 1500 Chapline Street, Wheeling, West Virginia, and at such hearing any person interested may appear before the City and present protests, and all protests and suggestions 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:
AN ORDINANCE AUTHORIZING AND APPROVING THE DESIGN, ACQUISITION, CONSTRUCTION, IMPROVEMENT, FURNISHING AND EQUIPPING OF PROPERTY TO BE CONVEYED BY THE CITY OF WHEELING (THE “CITY”) TO THE CITY OF WHEELING MUNICIPAL BUILDING COMMISSION (THE “BUILDING COMMISSION”) LOCATED AT 2000 EOFF STREET, WHEELING, WEST VIRGINIA, FOR USE AS A POLICE HEADQUARTERS (THE “PROJECT”) BY THE CITY AND THE ISSUANCE BY THE BUILDING COMMISSION OF ITS LEASE REVENUE BONDS, IN ONE OR MORE SERIES, IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $8,000,000 (THE “BONDS”), TO FINANCE THE COSTS THEREOF, THE FUNDING OF A DEBT SERVICE RESERVE FUND FOR THE BONDS, IF REQUIRED, AND THE PAYMENT OF COSTS OF ISSUANCE OF THE BONDS AND RELATED COSTS; AUTHORIZING AND APPROVING THE CONVEYANCE OF ALL REAL AND PERSONAL PROPERTY CONSTITUTING THE PROPERTY OF THE PROPOSED POLICE HEADQUARTERS WITH ALL BUILDINGS, IMPROVEMENTS, FIXTURES, EQUIPMENT, RIGHTS OF WAY AND APPURTENANCES ASSOCIATED THEREWITH BY THE CITY TO THE BUILDING COMMISSION; AUTHORIZING THE LEASING OF THE PROPERTY OF THE PROPOSED POLICE HEADQUARTERS TOGETHER WITH ALL BUILDINGS, IMPROVEMENTS, FIXTURES, EQUIPMENT, RIGHTS OF WAY AND APPURTENANCES ASSOCIATED THEREWITH BY THE CITY FROM THE BUILDING COMMISSION PURSUANT TO A LEASE AGREEMENT TO BE EXECUTED AND DELIVERED BY THE MAYOR OF THE CITY; AUTHORIZING THE PREPARATION OF A PRELIMINARY OFFICIAL STATEMENT TO BE USED IN CONNECTION WITH THE SALE OF THE BONDS; AUTHORIZING THE EXECUTION AND DELIVERY BY THE MAYOR OF THE CITY OF A CONTINUING DISCLOSURE AGREEMENT, AN OFFICIAL STATEMENT, AND A BOND PURCHASE AGREEMENT AMONG THE CITY, THE BUILDING COMMISSION AND THE UNDERWRITER FOR THE BONDS; APPROVING THE ADOPTION BY THE CITY OF CONTINUING DISCLOSURE POLICIES AND PROCEDURES WITH RESPECT TO THE CONTINUING DISCLOSURE AGREEMENT TO BE EXECUTED BY THE CITY IN CONNECTION WITH THE ISSUANCE OF THE BONDS; AND AUTHORIZING OTHER NECESSARY ACTIONS IN CONNECTION WITH THE FOREGOING.
The above quoted title of the Ordinance describes generally the contents thereof and the purposes of the Lease contemplated thereby. The City contemplates that the Wheeling Municipal Building Commission will issue Lease Revenue Bonds, Series 2021 A (the “Series 2021 A Bonds”) to finance (i) the design, acquisition, construction, improvement, furnishing and equipping of certain real estate, together with the improvements thereon, located in Wheeling, West Virginia as a police headquarters (the “Project”); (ii) the funding of a debt service reserve fund for the Series 2021 A Bonds, if required; and (iii) the costs of issuance of the Series 2021 A Bonds and related costs. The Series 2021 A Bonds will be payable solely from lease rentals payable to the Wheeling Municipal Building Commission by The City of Wheeling. No taxes may at any time be levied for the payment of the Series 2021 A Bonds or the interest thereon.
The above-entitled Ordinance was adopted on first reading by the Council of The City of Wheeling on July 6, 2021. A certified copy of the above entitled Ordinance is on file with the City Clerk for review by interested parties during regular office hours.
Following the public hearing, the Council of The City of Wheeling intends to enact the Ordinance upon final reading.
/s/ Brenda J. Delbert
City Clerk
Int. July 8, 15, 2021