NOTICE OF PUBLIC HEARING
CITY OF WEIRTON, WEST VIRGINIA
NOTICE IS HEREBY GIVEN that on August 7, 2023, at 6:45 p.m. prevailing time, the City of Weirton, West Virginia (the “Issuer”) will conduct a public hearing at the City Council Chambers located in the Weirton Municipal Building, 200 Municipal Plaza, Weirton, WV 26062, to review the Project described in this Notice. This hearing will be held in connection with the proposed issuance by the Issuer of one or more series of its tax-exempt and/or taxable revenue notes (together, the “Notes”) for the benefit of the Borrower listed below.
Issuer: City of Weirton, West Virginia.
Owner/Borrower: Weirton Medical Center (“Borrower”), a West Virginia nonprofit corporation and an organization exempt from federal income taxation pursuant to Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (the “Code”). The principal address of Borrower is 601 Colliers Way, Weirton, WV 26062.
Maximum Principal Amount of Proposed Issuance: The aggregate principal amount of the Notes will not exceed $8,000,000. The Notes are proposed to be issued as a qualified 501(c)(3) bond as defined in Section 145 of the Code for a hospital facility.
Project Description: The proceeds of the Notes will be used to finance a project (the “Project”) consisting of paying all or a portion of the costs of (a) capital improvements to the Weirton Medical Center hospital facility in Weirton, Brooke County, West Virginia, and (b) paying all or a portion of the related financing costs.
Project Locations: The facilities and assets of Borrower in West Virginia being financed or refinanced with proceeds of the Notes are located at the following address: 601 Colliers Way, Weirton, WV 26062.
The Notes will be limited obligations of the Issuer and will not constitute a debt or a pledge of the taxing power of the City of Weirton, the State of West Virginia, or any political subdivision thereof.
Members of the public are invited to attend the hearing to provide information and make any statements concerning the foregoing Project. This Notice is being given and the hearing will be held pursuant to the requirements of Section 147(f) of the Code and the regulations promulgated thereunder.
City of Weirton, West Virginia
BCR 07/28/23