Legal 3 col x 5-1/4”
0919 0926
NOTICE OF PUBLIC HEARING ON THE
CITY OF RONCEVERTE BOND ORDINANCE
A public hearing will be held on the following-entitled Ordinance at a regular meeting of the Council of the City of Ronceverte ‘(the “City”) to be held on Monday, October 5, 2020, at 7:00 p.m., at City Hall, 182 Main Street West, Ronceverte, West Virginia, and at such hearing any person interested may appear before the Council and present protests, and all protests and suggestions shall be heard by the Council and it shall then take such actions as it shall deem proper in the premises upon an Ordinance entitled:
ORDINANCE AUTHORIZING ACQUISITION AND CONSTRUCTION OF
ADDITIONS, BETTERMENTS AND IMPROVEMENTS TO THE EXISTING
PUBLIC WATERWORKS SYSTEM OF THE CITY OF RONCEVERTE AND
THE FINANCING OF THE COST, NOT OTHERWISE PROVIDED, THEREOF
THROUGH THE ISSUANCE BY THE CITY OF RONCEVERTE OF NOT
MORE THAN $2,600,000 IN ORIGINAL AGGREGATE PRINCIPAL AMOUNT
OF WATER REVENUE BONDS, SERIES 2020 A (WEST VIRGINIA DWTRF
PROGRAM); AND NOT MORE THAN $1,100,000 IN ORIGINAL AGGREGATE
PRINCIPAL AMOUNT OF WATER REVENUE BONDS, SERIES 2020 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 City contemplates the issuance of the Bonds described in the Ordinance. The proceeds of the Bonds will be used to (i) to pay a portion of the costs of design, acquisition, construction and equipping of certain additions, betterments and improvements to the existing public waterworks system of the Issuer (the “Project”); and (ii) to pay certain costs of issuance of the Bonds and related costs. The Bonds are payable solely from revenues to be derived from the ownership and operation of the potable waterworks 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 considered on second reading by the Council of the City of Ronceverte on September 14, 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 Council intends to enact the Ordinance upon final reading.
Dated: September 15, 2020.
/s/ David Smith
Mayor