TO ISSUE NOT EXCEEDING $3,500,000
OF TAXABLE WATER REVENUE BONDS OF THE
VILLAGE OF HARRISONBURG, STATE OF LOUISIANA
PUBLIC NOTICE IS HEREBY GIVEN, pursuant to the provisions of a resolution adopted on April 11, 2022, by the Mayor and Board of Aldermen of the Village of Harrisonburg, State of Louisiana (the “Governing Authority”), acting as the governing authority of said Village (the “Issuer”), and in compliance with R.S. 39:524 and the other applicable provisions of Part II of Chapter 4 of Subtitle II of Title 39 of the Louisiana Revised Statutes of 1950, as amended, and other constitutional and statutory authority (collectively, the “Act”), the Governing Authority does hereby declare its intention to issue not exceeding Three Million Five Hundred Thousand Dollars ($3,500,000) of Taxable Water Revenue Bonds of the Issuer (the “Bonds”), the proceeds of which will be used to pay a portion of the costs of constructing and acquiring improvements, extensions, renovations and replacements to the waterworks system of the Issuer (the “System”), including equipment, fixtures and accessories therefor, both personal and real, a work of public improvement for the Issuer. The principal of the Bonds shall be subject to forgiveness. The Bonds shall be limited and special revenue bonds of the Issuer, secured by and payable in principal and interest, equally with the Issuer’s outstanding Water Revenue Bonds, Series 2021, solely from the income and revenues derived or to be derived by the Issuer from the operation of the System, subject to the prior payment of the reasonable and necessary expenses of operating and maintaining the System. The Bonds shall not be a charge on the other income and revenues of the Issuer as prohibited under the provisions of Article VI, Section 37 of the Louisiana Constitution of 1974, nor shall they constitute an indebtedness or pledge of the general credit of the Issuer. The Bonds shall be of such series, bear such date or dates, mature at such time or times (not to exceed 30 years from their date of issuance), bear interest at such rate or rates not exceeding 2.45% per annum (inclusive of any administrative fee), be in such denomination or denominations, be in fully registered form, carry such registration privileges, be payable in such medium of payment and at such place or places, be subject to such terms of prepayment and be entitled to such priorities on the income and revenues of the System as the Governing Authority may provide by ordinance(s) adopted at the time of issuance of the Bonds.
The Issuer will, in such ordinance(s), enter into covenants with the future owner or owners of the Bonds as to the management and operation of the System, the imposition and collection of fees and charges for the products, commodities or services furnished thereby, the disposition of such fees and revenues, the issuance of future bonds and the creation of future liens and encumbrances against the System and the revenues thereof, the carrying of insurance on the System and the disposition of the proceeds of insurance, and other pertinent matters as may be deemed necessary by the Governing Authority to assure the marketability of the Bonds, consistent with the provisions of the Act. Such ordinance(s) will also include remedies in case of default, provisions for the issuance of parity bonds, and such additional covenants, agreements and provisions as are deemed necessary by the Governing Authority for the security of the registered owners of the Bonds, including sinking and reserve funds for the payment of principal and interest on the Bonds and adequate depreciation funds for those repairs and replacements to the System as may be necessary to assure adequate and efficient service to the public, all as provided by the Act.
NOTICE IS HEREBY FURTHER GIVEN that the Bonds are expected to be sold at a private sale to the Drinking Water Revolving Loan Fund and may be issued and sold in installments as needed.
NOTICE IS HEREBY FURTHER GIVEN that the Bonds will, before the delivery thereof, be approved by the State Bond Commission, Baton Rouge, Louisiana.
NOTICE IS HEREBY FURTHER GIVEN that the Governing Authority will meet in open and public session on Monday, May 9, 2022, at six o’clock (6:00) p.m., at the Town Hall, 108 Sicily Street, Harrisonburg, Louisiana, or on such other date or place as may be determined by the Governing Authority, to hear any objections to the proposed issuance of the Bonds; provided, however, if at such hearing a petition or petitions duly signed by the electors of the Issuer in a number not less than five percent (5%) of the number of electors voting at the last election held in the Issuer object to the issuance of the Bonds, then the Bonds shall not be issued until approved by a vote of a majority of the qualified electors of the Issuer who vote at a special election held for that purpose in the manner provided by Chapter 6 of Title 18 of the Louisiana Revised Statutes of 1950. Any such petition shall be accompanied by a certificate of the Catahoula Parish Registrar of Voters certifying that the signers of the petition are registered electors of the Issuer and the number of signers amounts to not less than five percent (5%) of the registered voters that voted in the last election held in the Issuer, all as provided by the Act.
THUS DONE AND SIGNED at Harrisonburg, Louisiana, on this, the 11th day of April, 2022.
/s/ Greg Terry
Mayor Pro Tempore
ATTEST:
/s/ Patricia Hefner
Clerk
