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CITY OF LOWER BURRELL Westmoreland County Pennsylvania

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CITY OF LOWER BURRELL

Westmoreland County Pennsylvania

 

NOTICE OF ENACTMENT OF ORDINANCE

AUTHORIZING THE INCURRENCE OF LEASE RENTAL DEBT

 

NOTICE IS HEREBY GIVEN that at a special public meeting held on April 29 2026 the City Council of City of Lower Burrell Westmoreland County Pennsylvania (the “City”) enacted an Ordinance (the “Ordinance”) authorizing the incurrence of guaranteed lease rental debt by the City in a maximum aggregate principal amount of $15820000 by entering into two guaranty agreements (collectively the “Guaranty Agreements”) with the Municipal Authority of the City of Lower Burrell (the “Authority”) and the Pennsylvania Infrastructure Investment Authority (“PENNVEST”) guaranteeing debt obligations of the Authority in the maximum aggregate principal amount of $15820000 and consisting of a debt obligation in the maximum principal amount of $13920000 (the “Series A Debt Obligation”) and a debt obligation in the maximum principal amount of $1900000 (the “Series B Debt Obligation” and together with the Series A Debt Obligation the “Debt Obligations”) for the purpose of financing a capital improvement project consisting of (i) constructing alterations additions and improvements to the Authority’s sanitary sewage collection and transmission facilities; and (ii) paying for the costs of issuing the Debt Obligations.

 

The maximum annual payments to be made by the Authority under the Debt Obligations range from a low of $79099.98 to a high of $921564.60 and is the maximum amount required by the City’s guaranty pursuant to the Guaranty Agreements should payments by the Authority under the Debt Obligations be insufficient. The final maturity of the Debt Obligations is June 4 2049.

 

A summary of the Ordinance was advertised on April 21 2026 and the proposed text of the Ordinance was available for inspection at the offices of the City Clerk both in accordance with the requirements of the Local Government Unit Debt Act 53 Pa. Cons. Stat. §8001 et seq. as amended.

 

No amendments were made during final enactment of the Ordinance. A copy of the full text of the Ordinance summarized above may be examined by any citizen in the office of the City Clerk located in the City Hall Offices at 2800 Bethel Street Lower Burell Pennsylvania 15068 on business days between the hours of 9:00 a.m. and 5:00 p.m.

 

The proceedings for the incurring of the above-referenced debt will be filed with the Pennsylvania Department of Community and Economic Development Harrisburg Pennsylvania on or after May 4 2026.

 

CITY OF LOWER BURRELL

Gregory A. Prim City Manager

409459 (5/1/26)

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Date Added: May 1, 2026
Expiration: 6 Day(s)
   
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