COUNCIL OF THE BOROUGH OF WEST MIFFLIN met in special session in the Municipal Building Council Chambers on
Thursday, December 9, 2010 at 5:00 p.m. prevailing time with President Regis Stephenson presiding. ROLL CALL: Andzelik Present Munsie Absent
Falce Present Olack Present
Kostelnik Present Popovich Absent
Five members present, two absent (Munsie, Popovich). Mayor Kelly present.
CITIZENS COMMENTS ON AGENDA ITEMS:
- ORDINANCE OF THE BOROUGH OF WEST MIFFLIN, ALLEGHENY COUNTY, PENNSYLVANIA, AUTHORIZING THE INCURRENCE OF NONELECTORAL DEBT IN AN AGGREGATE AMOUNT NOT TO EXCEED $1,860,000 BY ISSUING GENERAL OBLIGATION BONDS, REFUNDING SERIES OF 2010 FOR THE PURPOSE OF PROVIDING FUNDS TO REFUND THE BOROUGH’S GENERAL OBLIGATION REFUNDING NOTES, SERIES A OF 2000 AND TO PAY THE COSTS OF ISSUING THE
Solicitor DiLucente read the ordinance and introduced Mr. McCarthy of HT Capital Markets to summarize the ordinance. Mr. McCarthy explained that the Borough is eligible at this time to refinance the Series A 2000 Bond and the net savings to the Borough would be approximately $127,000.
Solicitor DiLucente opened the meeting for public comment. Jim Jaskinski 4100 Home Street questioned the Borough’s Bond rating. Mr. McCarthy stated that the rating from Standard & Poor’s is AA+ which is excellent. Solicitor DiLucente called for any other public comments, hearing none, he closed the public hearing.
Motion by Kostelnik, seconded by Olack the ordinance be enacted. Roll Call: Five ayes, no nays, two absent
(Munsie, Popovich). Motion carried. Ordinance given No.1170.
Motion by Kostelnik, seconded by Falce that the Meeting be adjourned. Meeting adjourned at 5:20 p.m. prevailing time. Roll Call: Five ayes, no nays, two absent (Munsie, Popovich). Motion carried.