South Pittsburgh Reporter - Serving South Pittsburgh Since 1939

 
 

Proposed Ordinance 907

 

May 13, 2008



NOTICE

NOTICE IS HEREBY GIVEN THAT ON MONDAY, JUNE 9, 2008 AT 6:30 P.M. AT 150 Brownsville ROAD, Pittsburgh, PENNSYLANIA, THE OFFICERS OF THE BOROUGH OF MT Oliver, Allegheny County, PENNSYLVANIA, WILL ACT ON AN ORDINANCE (OF WHICH THIS NOTICE IS THE SUMMARY) AUTHORIZING THE ISSUANCE OF AN AWARDING OF ITS $763,500.00 PRINCIPAL AMOUNT, GUARANTEED REVENUE NOTE, AT A PRIVATE SALE. IF ENACTED, THE ORDINANCE WILL AWARD THE NOTE TO THE PURCHASER THEREOF, APPROVE THE FORM OF THE NOTE, FIX THE RATE OF INTEREST TO BE PAID, PLEDGE THE FULL FAITH AND CREDIT OF THE LOCAL GOVERNMENT UNIT FOR THE PAYMENT THEREOF, CREATE A SINKING FUND AND AUTHORIZE THE PROPER OFFICERS TO TAKE THE NECESSARY STEPS TO ISSUE THE NOTE. THE FUNDS TO BE OBTAINED FROM THE BORROWING WILL BE USED FOR THE FOLLOWING PURPOSE:

MT. Oliver BOROUGH

SANITARY SEWER DEFECT CORRECTIONS

A COPY OF THE FULL TEXT OF THE PROPOSED ORDINANCE MAY BE EXAMINED BY ANY CITIZEN IN THE OFFICE OF THE SECRETARY OF THE LOCAL GOVERNMENT UNIT AT 150 Brownsville ROAD, Pittsburgh, PENNSYLVANIA, 15210 ON ANY BUSINESS DAY (EXCEPT SATURDAYS AND SUNDAYS) BETWEEN THE HOURS OF 8:00 A.M. AND 3:45 P.M ., PREVAILING TIME.

THE FOLLOWING PROPOSED ORDINANCE WILL BE CONSIDERED FOR ADOPTION AT A SPECIAL MEETING OF MT. Oliver BOROUGH COUNCIL BEING HELD ON MONDAY, JUNE 9, 2008:

BOROUGH OF MT. OLIVER

ALLEGHENY COUNTY, PENNSYLVANIA

ORDINANCE 907

AN ORDINANCE INCREASING THE INDEBTEDNESS OF MT. Oliver BOROUGH, Allegheny County, PENNSYLVANIA, BY THE ISSUE OF A GUARANTEED REVENUE NOTE IN THE AMOUNT OF $763,500.00 FOR SUNDRY PURPOSES; FIXING THE FORM, NUMBER, DATE, INTEREST, AND MATURITY THEREOF; MAKING A COVENANT FOR THE PAYMENT OF THE DEBT SERVICE ON THE NOTE; PROVIDING FOR THE FILING OF THE REQUIRED DOCUMENT; PROVIDING FOR THE APPOINTMENT OF A SINKING FUND DEPOSITORY FOR THE NOTE; AND AUTHORIZING EXECUTION, SALE AND DELIVERY THEREOF.

JOANNE M. MALLOY

BOROUGH SECRETARY

 

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