NOTICE OF PUBLIC
HEARING
Notice is hereby given that on Thursday, September 28, 2017, at 10:30 a.m., prevailing time, a public hearing will be held in the County Commission Meeting Room, Wood County Courthouse, #1 Court Square, Parkersburg, West Virginia, at which time and place all parties in interest may appear before the Wood County Building Commission (the âBuilding Commissionã) and may be heard as to whether the following described Ordinance enacted by the Building Commission shall be put into effect.
Notice is further hereby given that on August 7, 2017, the Building Commission enacted an Ordinance ordering the issuance of not to exceed $500,000 in aggregate principal amount of the Wood County Building Commission Lease Revenue Bonds (Wood County Fire Fighters Association, Inc. Project) Series 2017, in one or more series (the âBondsã), to finance the costs not otherwise provided of the acquisition, construction and equipping of a new training facility to be located on the eastern side of Hugh Street near Camden Avenue, and having an address of 403 Hugh Street, in Parkersburg, West Virginia (the âProjectã). The Ordinance further provides for the leasing of the land and improvements constituting the Project to the Wood County Fire Fighters Association, Inc., (ãWCFFAã), a West Virginia nonprofit corporation that is exempt from federal income tax under Section 501(a) of the Internal Revenue Code of 1986, as amended (the âCodeã), as an organization described in Section 501(c)(3) of the Code (the âLeaseã).
The Bonds will be special limited obligations of the Building Commission payable solely from the revenues, rentals, and other monies received by the Building Commission pursuant to the Lease of the land and improvements constituting the Project and other security held pursuant to a bond purchase agreement described below, including without limitation a deed of trust lien on the land and improvements constituting the Project, and will not constitute a debt or liability of The County Commission of Wood County or the State of West Virginia.
The Bonds will be issued pursuant to a bond purchase agreement to be entered into among the Building Commission, the WCFFA, and the purchaser or purchasers of the Bonds to be designated by the Building Commission to authorize and secure the Bonds. The Building Commission will deliver the Bonds and receive the purchase price therefor, plus accrued interest, if any, to finance costs of the Project. The Project and other land and improvements constituting the Project will be leased by the Building Commission to the WCFFA pursuant to the Lease.
A certified copy of the Ordinance is on file for review by interested persons during regular office hours in the office of the County Clerk, Wood County Courthouse, #1 Court Square, Parkersburg, West Virginia.
Published at the direction of the Wood County Building Commission, this 18th day of September, 2017.
Secretary, Wood County Building Commission
Sep 18, 25