PUBLIC NOTICE
PUBLIC NOTICE
NOTICE
Notice is given that the Council of the Borough of Royalton, Dauphin County, Pennsylvania (the “Borough”), at a public meeting duly held on March 3, 2020, finally adopted an Ordinance (the “Ordinance”), a summary of which is set forth in the following caption:
“AN ORDINANCE OF THE COUNCIL OF THE BOROUGH OF ROYALTON
AUTHORIZING AND DIRECTING ISSUANCE OF A
GENERAL OBLIGATION BOND OF THIS BOROUGH,
IN THE PRINCIPAL AMOUNT OF $175,100, FOR THE
PURPOSE OF PAYING THE COSTS OF A CAPITAL
PROJECT: DETERMINING THAT SAID BOND SHALL
BE SOLD AT NEGOTIATED SALE; ACCEPTING A
PROPOSAL FOR PURCHASE OF SAID BOND; FIXING
THE SUBSTANTIAL FORM AND TAX FREE
PROVISIONS OF SAID BOND; PROVIDING
COVENANTS RELATED TO DEBT SERVICE
APPLICABLE TO SAID BOND AND PLEDGING THE
FULL FAITH, CREDIT AND TAXING POWER OF THIS
BOROUGH IN SUPPORT THEREOF; CREATING A
SINKING FUND IN CONNECTION WITH SAID BOND
AND APPOINTING A SINKING FUND DEPOSITORY;
SETTING FORTH CERTAIN COVENANTS RELATING
TO THE NON ARBITRAGE STATUS OF SAID BOND;
DESIGNATING SAID BOND AS A QUALIFIED TAXEXEMPT
OBLIGATION UNDER THE INTERNAL
REVENUE CODE OF 1986, AS AMENDED; AND
PROVIDING WHEN THIS ORDINANCE SHALL
BECOME EFFECTIVE.”.
Notice also is given that: (1) no amendments were made to the Ordinance prior to enactment; (2) the price bid for the Bond was $175,100; (3) the maximum interest rate named in the successful proposal is 5.25% per annum; and (4) the final text of the Ordinance may be examined or inspected by any citizen in the office of the Secretary of the Borough in the Borough Building, 101 Northumberland Street, Royalton, Pennsylvania, on any regular business day between the hours of 9:00 a.m. and 3:00 p.m.
This Notice is given in accordance with requirements of and in compliance with Section 8003 of the Local Government Unit Debt Act.
BOROUGH OF ROYALTON,
Dauphin County, Pennsylvania
#167 0325-1T
