Notice of Public Hearing – Water Revenue Bond Anticipation Note, Series 2025 (Tax Exempt

BUCKHANNON, WV: A public hearing will be held on the following-entitled Ordinance at a regular meeting of the City Council of The City of Buckhannon (the “City”) to be held on Thursday, September 4, 2025, at 7:00 p.m. (or as soon thereafter as the matter may be heard) in the Council Chambers, City Hall, 70 East Main Street, Buckhannon, 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:

ORDINANACE AUTHORIZING THE DESIGN AND UNDERTAKING OF PRE-CONSTRUCTION ACTIVITIES FOR IMPROVEMENTS AND EXTENSIONS TO THE EXISTING PUBLIC WATERWORKS SYSTEM AND TEMPORARILY FINANCING OF THE COST THEREOF, NOT OTHERWISE PROVIDED, AND PAYING COSTS OF ISSUANCE AND RELATED COSTS, THROUGH THE ISSUANCE OF THE WATER REVENUE BOND ANTICIPATION NOTE, SERIES 2025 (TAX EXEMPT) OF THE CITY OF BUCKHANNON IN THE AGGREGATE PRINCIPAL AMOUNT OF NOT MORE THAN $6,000,000; PROVIDING FOR THE RIGHTS AND REMEDIES OF, AND THE SECURITY FOR, THE REGISTERED OWNER OF SUCH NOTE; AUTHORIZING THE EXECUTION AND DELIVERY OF A TAX CERTIFICATE, A TAX COMPLIANCE POLICY AND OTHER DOCUMENTS; AUTHORIZING THE SALE AND PROVIDING FOR THE TERMS AND PROVISIONS OF SUCH NOTE AND ADOPTING OTHER PROVISIONS RELATING THERETO.   

          The above quoted title of the Ordinance describes generally the contents thereof and the purposes of the Bond Anticipation Note (the “Series 2025 BAN”) contemplated thereby. The City contemplates the issuance of the Series 2025 BAN described in the Ordinance. The proceeds of the Series 2025 BAN will be used to (i) pay the costs of design, property acquisition and pre-construction activities relating to future improvements to the waterworks system of the City (the “Project”); and (ii) pay certain costs of issuance of the Series 2025 BAN and related costs. The Series 2025 BAN is payable solely from surplus revenues to be derived from the waterworks system of the City which is operated by The Water Board of the City of Buckhannon as well as the proceeds of grants or loans obtained by the City to permanently finance the costs of the Project. No taxes may at any time be levied by the City for the payment of the Series 2025 BAN or the interest thereon.

          The above-entitled Ordinance was approved and adopted on second reading by the City Council on August 7, 2025. A certified copy of the above-entitled Ordinance is on file with the City Clerk of the City for review by interested parties during regular office hours.

Following the public hearing, the City Council of the City intends to enact the Ordinance upon final reading.

                                                                                                By: Randy Sanders
City Recorder