Details for CITY OF WEST WENDOVER - Ad from 2019-05-10

NOTICE OF PUBLIC HEARING ON THE INTENT OF THE CITY COUNCIL OF THE CITY OF WEST WENDOVER, NEVADA, TO ISSUE GENERAL OBLIGATION (LIMITED TAX) WATER REFUNDING BONDS ADDITIONALLY SECURED BY PLEDGED REVENUES NOTICE IS HEREBY GIVEN that the City Council (the “Council”) of the City of West Wendover, Nevada (the “City”), by a resolution, passed, adopted, signed and approved on May 7, 2019, and designated in Section 1 thereof by the short title “2019 Resolution of Intent to Issue Water Refunding Bonds” has proposed the issuance of the City’s General Obligation (Limited Tax) Water Refunding Bonds (Additionally Secured by Pledged Revenues) (the “Bonds”) pursuant to the following proposal (the “Proposal”): GENERAL OBLIGATION (LIMITED TAX) WATER REFUNDING BONDS (ADDITIONALLY SECURED BY PLEDGED REVENUES) PROPOSAL: Shall the City Council of the City of West Wendover, Nevada, be authorized to issue the City’s negotiable general obligation (limited tax) water refunding bonds or other obligations (additionally secured by pledged revenues), in one series or more, in an aggregate principal amount not to exceed $2,200,000 to defray wholly or in part the cost to refund certain outstanding revenue obligations of the City (the “Project”), the bonds or other obligations to mature commencing not later than 5 years from their date or respective dates and ending not later than the maximum maturity allowed by law, to bear interest at a rate or rates not in excess of the statutory maximum rate in effect at the time the bonds are sold, to be payable from general (ad valorem) taxes (except to the extent pledged revenues and other monies are available therefor), and to be issued and sold at par, or below or above par, and otherwise in such manner, upon such terms and conditions, and with such other detail as the Council may determine, including at its option but not necessarily limited to provisions for the redemption of bonds prior to maturity without or with the payment of a premium? The Proposal was approved upon the adoption of a resolution by the Debt Management Commission of Elko County, Nevada, at a meeting of the Commission. The Council has determined that the Bonds to be issued for the purpose of refinancing certain outstanding obligations of the City (as further described in the Proposal) will be additionally secured by a pledge of the net revenues of the City’s municipal water system (the “Pledged Revenues”). The City has determined that the Pledged Revenues will at least equal the amount required in each year for the payment of the interest on and the principal of the Bonds. All persons interested are hereby advised that the Council will hold a public hearing on the Proposal on June 4, 2019, at 7:00 pm, or as soon thereafter as is practicable, at the Office of the City Clerk, 1111 N. Gene L. Jones Way, West Wendover, Nevada. All persons are invited to attend and to be heard regarding the Proposal. Further information regarding the Proposal, the project to be refinanced by the Bonds, the Bonds and the Pledged Revenues to be pledged to the Bonds, and all proceedings, are on file in the Office of the City Clerk, 1111 N. Gene L. Jones Way, West Wendover, Nevada, and can be seen and examined during regular office hours of the City Clerk. By order of the City Council of the City of West Wendover, Nevada. Dated this May 7, 2019. PUBLICATION DATES: May 10, May 17 and May 24, 2019.

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