BOROUGH OF WEST MIFFLIN
SUMMARY NOTICE UNDER
LOCAL GOVERNMENT UNIT DEBT ACT
Notice is hereby given that the Borough Council of the Borough of West Mifflin will consider, at a meeting to be held on Wednesday, August 11, 2021, at 6:30 p.m., in the Municipal Building Council Chambers, located at 1020 Lebanon Road, West Mifflin, Pa 15122 (or at such other time and date, properly advertised, as the Borough Council may determine, no later than thirty (30) days following publication of this notice), together with such other business as may come before the Borough Council, the enactment of an Ordinance authorizing nonelectoral debt in the presently estimated not-to-exceed amount of $6,530,000 which is summarized as follows:
Article 1 defines certain terms, including the Bonds and the Project, which consists generally of payment of the costs of: (a) the current refunding of all or a portion of the Borough’s outstanding General Obligation Bonds, Refunding Series of 2016; and (b) issuing the Bonds.
Articles 2 and 3 authorize the incurrence of nonelectoral debt by the issuance of General Obligation Bonds, establish a sinking fund and pledge the full faith, credit and taxing power of the Borough to the payment of the Bonds.
Article 4 provides the form, maturity amounts, interest rates and the terms and provisions for the payment of the Bonds. Articles 5, 6, 7 and 8 address the Sinking Fund Depository, events of default, and amendment and discharge of the security documents.
Article 9 contains federal income tax covenants; Article 10, securities law covenants.
Article 11 provides for the sale of the Bonds, establishes certain funds and sets forth certain directions for Settlement, while Article 12 authorizes other related and necessary actions.
The full text of the Ordinance, as proposed, may be examined and inspected by any citizen between the hours of 8:30 a.m. to 4:00 p.m., Monday through Friday at the Office of the Borough Manager in the Municipal Building, 1020 Lebanon Road, West Mifflin, PA 15122.
Borough of West Mifflin
Brian Kamauf, Borough Manager