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An Ordinance authorizing the incurrence of Nonelectoral Debt of the Township of Lower Merion by the issuance of $_________ General Obligation Bonds, Series A Of 2017 for the purpose of providing funds for and towards financing a portion of the Township’s ongoing Capital Improvement Program and paying the costs of issuing the Bonds; authorizing the preparation and filing of a Debt Statement and other documentation; covenanting to create a Sinking Fund and to budget, appropriate and pay Debt Service on the Bonds and pledging the full faith, credit and taxing power of the Township for the Bonds; setting forth the Substantial Form of Bonds; setting forth the stated principal maturity amounts and dates, interest rates and interest payment dates, place of payment, Sinking Fund provisions and other details of the Bonds; authorizing the execution of a supplement to Continuing Disclosure Agreement; finding that a private invited sale of the Bonds is in the best financial interest of the Township and accepting a proposal for the purchase of the Bonds; appointing a Paying Agent and Sinking Fund Depository; and authorizing other necessary action.
This Ordinance was authorized for advertising at the August 2, 2017 stated meeting of the Board of Commissioners and duly advertised in the September 8, 2017 issue of the Times Herald.
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