Notice is hereby given that the East Rockhill Township Board of Supervisors will consider for possible adoption an Ordinance, of which this notice is a summary, to issue a general obligation note, awarded through private sale, in the amount of $500,000 to fund the construction of a new sewage pumping station on Three Mile Run Road at School House Road. The proposed general obligation note will have a 20-year term with a fixed interest rate of 1.5% per annum for the first ten years and a per annum interest rate, variable by month, of 65% of the Wall Street Journal published prime rate. The proposed 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 Board of Supervisors will consider the forgoing Ordinance at a hearing to be held on June 22, 2021, at 7:00 P.M. at the East Rockhill Township Building at 1622 N. Ridge Road, Perkasie, PA 18944.
Copies of the full text of this Ordinance are available to any interested party for inspection and/or copying at a nominal cost on weekdays between 8 A.M and 4 P.M.at the office of the secretary at the East Rockhill Township Building at 1622 N. Ridge Road, Perkasie, PA 18944 or at the offices of this newspaper or the Bucks County Law Library during normal business hours. All interested parties are invited to attend and participate in this hearing.