Public Hearing: October 10th, 2016 USDA Loan for water expansion project Concord Road
Date Posted: Tuesday, September 27th, 2016PUBLIC HEARING & SPECIAL MEETING
Town of Blades
October 10th, 2016
7:00 p.m.
The Town of Blades (the “Town”) will hold a Public Hearing on October 10th, 2016 at 7:00 p.m. in Hardin Hall located at 18 West Fourth Street, Blades, Delaware. The Public Hearing will be to discuss the Town authorizing the issuance of up to $820,000 maximum principal amount of a general obligation bond (the “Bond”) in order to finance water capacity improvements. The town anticipates that the USDA will lend the Town the aggregate principal of up to $820,000.00 for a period of forty (40) years at an annual interest rate of one point six two five percent (1.625%). This loan will finance the project. It is anticipated that up to $605,000.00 of the amount drawn on the loan will be in grant funding by the USDA. The regularly scheduled meeting of council will happen after the public hearing.
If you have any questions regarding the issuance of the Bond, please be present at the Public Hearing. If you have any other questions, please contact Vikki Prettyman, Town administrator, at (302) 629-7366.
Vikki Prettyman,
Town Administrator
