The Denton Town Council will conduct Public Hearing on October 7, 2021, at 7:00 p.m. on the following Ordinance:
Ordinance #720 – An Ordinance of the Denton Town Council, authorizing the issuance and sale by the Town of Denton (the “Borrower”) of its general obligation bond in an aggregate principal amount not exceeding Six Hundred Thirty-Three Thousand Three Hundred Eighty-Eight Dollars ($633,388.00) pursuant to the authority of the Maryland Water Quality Financing Administration Act (codified as Sections 9-1601 to 9-1622, inclusive, of the Environment Article of the Annotated Code of Maryland (2014 Replacement Volume and 2020 Supplement); Section 19-301 to 19-309, inclusive, of the Local Government Article of the Annotated Code of Maryland (2013 Replacement Volume and 2020 Supplement); and Section C6-21 of the Charter of the Town of Denton, the bond, to be designated “Town of Denton Drinking Water Bond” (with such modifications or other designations or titles as may be agreed to by the Borrower and Maryland Water Quality Financing Administration (the “Administration”), the net proceeds of the sale thereof to be used and applied for the public purpose of financing or refinancing costs of a project generally referred to by the Borrower as the Denton Water Main Replacements Project as more particularly described herein, together with the acquisition of all necessary property rights and equipment, and related architectural, financial, legal, planning and engineering expenses, whether or not specifically stated; authorizing the execution of a loan agreement between the Borrower and the Administration; prescribing the form and tenor of the bond and the loan agreement and the terms and conditions for the issuance and sale of the bond at private sale to the Administration; providing for the prompt payment of the maturing principal of and interest on the bond; covenanting to levy and collect all taxes necessary to provide for the payment of the principal of and interest on such bond; pledging the full faith and credit of the Borrower to the payment of principal and interest on such bond; and generally relating to the issuance, sale and delivery of the bond.
A complete copy of the Ordinance is available for review on the Town of Denton website at www.dentonmaryland.com. and also, at the Denton Town Office during normal business hours: 8:30 AM – 4:00 PM, Monday through Friday. The public hearing will take place at the Denton Town Hall, 4 N. Second St., Denton, Maryland.
By Authority: Denton Town Council