Passed
Bill No. 8057
Bill Details
Type:
Bill
Passed:
June 2, 2025
Full Text:
Bill No. 8057 - A Bill with respect to approving the Magazine Branch Sanitary Sewer
Replacement and Rehabilitation Project.
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REPORTS OF OFFICERS
1. 7-7-2025
NEW BILLS
1. 7-7-2025
UNFINISHED BUSINESS AND/OR MISCELLANEOUS BUSINESS
REMARKS BY MEMBERS
ROLL CALL
ADJOURNMENT
THE NEXT REGULAR MEETING OF COUNCIL WILL BE JULY 21, 2025 AT 7:00 PM.
THE AGENDA WAS AMENDED ON 7-2-2025
*Meetings may be recorded and broadcast via internet https://charlestonwv.civicclerk.com
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14 THE CITY OF CHARLESTON
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18 SEWERAGE SYSTEM
19 BOND SUPPLEMENTAL ORDINANCE
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21 BILL NO. 8056
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SEWERAGE SYSTEM
BOND SUPPLEMENTAL ORDINANCE
TABLE OF CONTENTS
PAGE
ARTICLE I
STATUTORY AUTHORITY, DEFINITIONS AND FINDINGS ................................................2
Section 1.01. Authority of this Ordinance ......................................................................................2
Section 1.02. Findings ....................................................................................................................2
Section 1.03. Ordinance Constitutes Contract................................................................................6
Section 1.04. Definitions ................................................................................................................6
ARTICLE II
AUTHORIZATION OF EXTENSIONS, ADDITIONS, BETTERMENTS
AND IMPROVEMENTS TO SYSTEM ..............................................................13
Section 2.01. Authorization of Extensions, Additions, Betterments
and Improvements.................................................................................................13
ARTICLE III
AUTHORIZATION, TERMS, EXECUTION AND REGISTRATION OF BONDS..................13
Section 3.01. Authorization and Terms of Bonds.........................................................................13
Section 3.02. Execution of Bonds.................................................................................................14
Section 3.03. Authentication and Registration .............................................................................14
Section 3.04. Negotiability, Transfer and Registration ................................................................14
Section 3.05. Bonds Mutilated, Destroyed, Stolen or Lost...........................................................15
Section 3.06. Bonds not to be Indebtedness of the City ...............................................................16
Section 3.07. Bonds Secured by Pledge of Net Revenues............................................................16
Section 3.08. Form of Bonds .......................................................................................................16
Section 3.09. Sale of Bonds; Approval and Ratification of Execution of
Bond Purchase Agreement.....................................................................................26
Section 3.10. Bonds are Issued as Parity Bonds...........................................................................26
Section 3.11. Persons Treated as Owners.....................................................................................26
Section 3.12. Delivery of Bonds...................................................................................................26
ARTICLE IV
APPLICATION OF BOND PROCEEDS; FUNDS AND ACCOUNTS;
SYSTEM REVENUES AND APPLICATION THEREOF..........................................................27
Section 4.01. Establishment of Funds and Accounts with Depository Bank ...............................27
Section 4.02. Establishment of Funds and Accounts with Commission. .....................................27
Section 4.03. Application of Bond Proceeds ................................................................................27
Section 4.04. Disbursements From the Bond Construction Trust Fund .......................................28
Section 4.05. Funds and Accounts; Flow of Funds ......................................................................28
Section 4.06. Investments .............................................................................................................30
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DEFAULT AND REMEDIES.......................................................................................................32
Section 5.01. Events of Default ....................................................................................................32
Section 5.02. Remedies.................................................................................................................32
Section 5.03. Appointment of Receiver........................................................................................32
ARTICLE VI
ADDITIONAL COVENANTS OF THE CITY ............................................................................33
Section 6.01. Bonds not to be Indebtedness of the City ...............................................................34
Section 6.02. Bonds Secured by Pledge of Net Revenues; Lien Positions
with Respect to Bonds ...........................................................................................34
Section 6.03. Initial Schedule of Rates and Charges ....................................................................34
Section 6.04. Sale of the System...................................................................................................35
Section 6.05. Issuance of Other Obligations Payable Out of Revenues and
General Covenant Against Encumbrances ............................................................36
Section 6.06. Parity Bonds............................................................................................................36
Section 6.07. Books; Records and Audit ......................................................................................38
Section 6.08. Coverage Requirement ...........................................................................................39
Section 6.09. Operating Budget and Monthly Financial Report...................................................40
Section 6.10. Engineering Services and Operating Personnel......................................................40
Section 6.11. No Competing Franchise ........................................................................................41
Section 6.12. Enforcement of Collections ....................................................................................41
Section 6.13. No Free Services.....................................................................................................41
Section 6.14. Insurance.................................................................................................................42
Section 6.15. Mandatory Connections..........................................................................................43
Section 6.16. Completion and Operation of Project; Permits and Orders ....................................43
Section 6.17. Statutory Mortgage Lien.........................................................................................43
Section 6.18. Compliance With Bond Purchase Agreement and Law .........................................44
Section 6.19. Tax Covenants ........................................................................................................44
Section 6.20. Rebate Covenant.....................................................................................................45
Section 6.21. Arbitrage .................................................................................................................45
Section 6.22. Tax Certificate and Rebate .....................................................................................45
Section 6.23. Securities Laws Compliance...................................................................................47
Section 6.24. Defeasance of Bonds ..............................................................................................47
Section 6.25. Contracts .................................................................................................................48
Section 6.26. Continuing Disclosure Agreement..........................................................................48
Section 6.27. Contracts; Change Orders, Public Releases............................................................48
ARTICLE VII
REGISTRAR .................................................................................................................................48
Section 7.01. Appointment of Registrar .......................................................................................48
Section 7.02. Responsibilities of Registrar...................................................................................48
Section 7.03. Evidence on Which Registrar May Act ..................................................................49
Section 7.04. Compensation and Expenses ..................................................................................49
Section 7.05. Certain Permitted Acts............................................................................................49
Section 7.06. Resignation of Registrar .........................................................................................49
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Page | 6 of Section 7.07. Removal..................................................................................................................49
Section 7.08. Appointment of Successor......................................................................................50
Section 7.09. Transfer of Rights and Property to Successor ........................................................50
Section 7.10. Merger or Consolidation ........................................................................................50
Section 7.11. Adoption of Authentication ....................................................................................50
ARTICLE VIII
MISCELLANEOUS ......................................................................................................................51
Section 8.01. Modification or Amendment ..................................................................................51
Section 8.02. Severability of Invalid Provisions...........................................................................51
Section 8.03. Repeal of Conflicting Ordinances...........................................................................51
Section 8.04. Covenant of Due Procedure....................................................................................51
Section 8.05. Statutory Notice and Public Hearing ......................................................................51
Section 8.06. Effective Date .......................................................................................................52
EXHIBIT A DESCRIPTION OF PROJECT ..........................................................................A-1
EXHIBIT B NOTICE OF PUBLIC HEARING AND ABSTRACT OF BOND
ORDINANCE .....................................................................................................B-1
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Page | 7 of 1 Bill No. 8056
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4 Introduced in Council: Passed by Council:
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6 June 2, 2025_______________
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8 Introduced by: Referred to:
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10 Joseph Jenkins_____________ Finance___________________
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12Documents:
Vote Summary
Consensus
Unanimous
Yes
23
No
0
Absent
4
Total Votes:
23
How Each Member Voted
✓ Yes (23)
- Amy Shuler Goodwin(At-Large)
- Becky Ceperley(At-Large)
- Beth Kerns(Ward 7)
- Bobby Haas(Ward 2)
- Bruce King(Ward 17)
- Caitlin Cook(At-Large)
- Chad Robinson(Ward 20)
- Chelsea Steelhammer(Ward 10)
- Chuck Overstreet(Ward 3)
- Emmett Pepper(At-Large)
- Frank H Annie(Ward 13)
- Harper Gardner(Ward 15)
- Jennifer Pharr(At-Large)
- Joe Solomon(At-Large)
- John Gianola(Ward 16)
- Joseph Jenkins(Ward 12)
- Larry Moore(Ward 4)
- Mary Beth Hoover(Ward 9)
- Michael Ferrell(Ward 6)
- Pat Jones(Ward 1)
- Patrick Salango(Ward 14)
- Shannon Snodgrass(Ward 11)
- Shawn Taylor(At-Large)
− Absent (4)
- Brent Burton(Ward 19)
- Jeanine Faegre(Ward 5)
- Kathy Rubio(Ward 8)
- Pam Burka(Ward 18)