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NOTICE OF PUBLIC HEARING ON THE PROPOSED ISSUANCE OF GENERAL OBLIGATION BONDS BY THE CITY

The Virginian-Pilot
Inside Business

NOTICE OF PUBLIC HEARING ON THE PROPOSED ISSUANCE OF GENERAL OBLIGATION BONDS BY THE CITY OF SUFFOLK, VIRGINIA NOTICE IS HEREBY GIVEN that the City Council (the "City Council") of the City of Suffolk, Virginia (the "City"), will hold a public hearing in accordance with Section 15.2-2606 of the Code of Virginia of 1950, as amended, on the proposed issuance of general obligation bonds in the estimated maximum amount of $20,500,000. The City proposes to issue the bonds and use the bond proceeds to finance the costs of capital projects for which bond proceeds have been appropriated. The City expects to use more than ten percent of the total bond proceeds to finance all or a portion of the costs of public safety and parks and recreation, transportation, and school system projects. All expected uses of bond proceeds are subject to change in accordance with the City's capital expenditure cash flow needs and Virginia law. An ordinance authorizing the issuance of the bonds will be considered by the City Council at its meeting on Wednesday, July 18, 2018, following the public hearing on the issuance of the bonds. The public hearing, at which persons may appear and present their views, and which may be continued or adjourned, will be held at a meeting that will begin at 7:00 p.m. on Wednesday, July 18, 2018, before the City Council in the Council Chambers, City Hall, 442 West Washington Street in Suffolk, Virginia. The proposed ordinance also authorizes the issuance of refunding bonds of the City to achieve debt service savings. All interested persons are invited to appear at the time and place aforementioned, and any interested person whose participation in this meeting would require the accommodation of a disability should contact Patrick Roberts, City Manager, at (757) 514-4012. VP 25687560A

Appeared in: The Virginian-Pilot

Published: The Virginian-Pilot - 07/04/2018, 07/11/2018