POTTER TOWNSHIP
Centre County, Pennsylvania
NOTICE IS HEREBY GIVEN that the Board of Supervisors of Potter Township (the “Township”) at its public meeting scheduled for July 1, 2024 at 7:00 p.m. at 124 Short Road, Spring Mills, PA 16875 will, among other things, consider a proposal for the purchase of the Township’s General Obligation Note, Series of 2024 (Tax Exempt) in the maximum principal amount of $500,000. (the “Note”) and will take other action in connection with the incurring of non-electoral debt through the issuance of such Note at the meeting. The Township will consider the enactment of an ordinance (the “Ordinance”) summarized as follows:
The Ordinance authorizes the sale and issuance of the Note to Jersey Shore State Bank (the “Bank”) upon the terms of the Bank’s proposal; approves the terms and substantial form of the Note; pledges the full faith and credit of the Township for the payment thereof; authorizes the proper officers of the Township to appoint the Bank as sinking fund depository; creates a sinking fund; and authorizes the proper officers to take the steps necessary to issue the Note. The Note shall carry a tax-exempt fixed rate of interest of 4.99% per annum and shall mature six years from execution.
The funds to be obtained from the Note will be used for bridge repair construction in the Township.
Omissions from the Ordinance, as proposed, as well as any amendments thereto, will be supplied at the time of the Ordinance if the Township shall determine to proceed.
The Ordinance may be reviewed at 124 Short Road, Spring Mills, PA 16875 during regular business hours and copies are available upon request at cost. Any person with a disability requiring a special accommodation to attend any meeting of the Board of Commissioners should notify the Secretary at (814) 364-9176 as early as possible. The Potter Township Office will make every effort to provide a reasonable accommodation.
Lisa Kroner, Township Secretary
POTTER TOWNSHIP, CENTRE COUNTY, PENNSYLVANIA