Delco Times, TOWNSHIP OF NETHER PROVIDENCE, DELAWARE COUNTY, PENNSYLVANIA NOTICE OF MEETING FOR CONSIDERATION OF AN ORDINANCE TO AUTHORIZE THE ISSUANCE OF NONELECTORAL DEBT AND THE AWARD OF A QUALIFIED INTEREST RATE MANAGEMENT AGREEMENT NOTICE IS HEREBY GIVEN that the Board of Commissioners of the Township of Nether Providence, Delaware County, Pennsylvania (the “Township”), will hold a public meeting on August 6, 2015, at 7:30 P.M., at the Nether Providence Township Building, 214 Sykes Lane, Wallingford, Pennsylvania 19086. On the agenda for the meeting, is the consideration and possible enactment of an Ordinance that would authorize the incurrence of lease rental debt by the guaranty (the “Guaranty”) of a loan (the “VLAP Loan”) to South Media Fire Company No. 1 (the “VLAP Loan”), in the aggregate principal amount of $200,000. The VLAP Loan would fund, in part, a certain capital project (collectively, the “Project”) consisting of (i) the acquisition of a fire truck and fire department equipment and (ii) the costs of issuance of the VLAP. The provisions of the proposed Ordinance are summarized as follows: Section 1. Authorizes the incurrence of lease rental debt in the amount of $200,000 and approves the 2015 Project Section 2. States the estimated useful life of the 2015 Project. Section 3. Pledges the full faith and credit of the Township’s taxing power toward payment on the Guaranty and makes a covenant for timely payment upon the Guaranty. Section 4. Recognizes the Guaranty to be lease rental debt of the Township; Section 5. Approves the form of the Guaranty; Section 6. Authorizes execution of the Guaranty in the name of the Township by the President of the Board of Commissioners and attestation of same by the Township Manager, and directs the Township Manager to prepare, verify and file the debt statement required by Section 8110 of the Local Government Unit Debt Act and to take other necessary action. Section 7. Authorizes the Township to establish a sinking fund if required by the terms of the guaranty and authorizes the Township to contract with Wells Fargo, N.A. to serve as sinking fund depository. Section 8. Authorizes and directs the advertisement of the enactment of the Ordinance. Section 9. Repeals conflicting prior ordinances. A copy of the full proposed text of the Ordinance summarized above may be examined by any citizen in the Office of the Manager, located in the Township Building, 214 Sykes Lane, Wallingford, Pennsylvania 19086, Monday through Friday between the hours of 9:00 A.M. and 5:00 P.M. If the Ordinance is enacted, a Notice of Enactment thereof, including a summary of any changes or amendments to the Ordinance, will be advertised and the Ordinance (as enacted) will be available for examination by any citizen in accordance with the Local Government Unit Debt Act. GARY J. CUMMINGS, MANAGER TOWNSHIP OF NETHER PROVIDENCE DCT, August 2, a-1
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