LEGAL NOTICE NOTICE IS GIVEN that the Board of Supervisors
LEGAL NOTICE
NOTICE IS GIVEN that the Board of Supervisors of the Township of Keating, in McKean County, Pennsylvania (the “Township”), at its meeting held on June 5, 2025, enacted an Ordinance (the “Ordinance”), the caption and a summary of such Ordinance being as follows:
“ORDINANCE
INCURRING “LEASE RENTAL DEBT,” AS DEFINED IN THE PENNSYLVANIA LOCAL GOVERNMENT UNIT DEBT ACT, IN THE MAXIMUM PRINCIPAL AMOUNT OF
$2,000,000, EVIDENCED BY THIS TOWNSHIP’S
GUARANTY OF ALL PAYMENTS DUE UNDER A DEBT
OBLIGATION TO BE ISSUED BY KEATING TOWNSHIP
MUNICIPAL
AUTHORITY TO THE PENNSYLVANIA
INFRASTRUCTURE INVESTMENT AUTHORITY TO FINANCE ENGINEERING, DESIGN, PERMITTING AND
OTHER PRELIMINARY PRE-CONSTRUCTION COSTS
FOR A NEW WATER SYSTEM AND INTERCONNECTION WITH BRADFORD CITY WATER AUTHORITY, AND TO PAY RELATED EXPENSES; AUTHORIZING A GUARANTY AGREEMENT, BY AND AMONG THIS TOWNSHIP, AS GUARANTOR, THE BORROWER AND PENNVEST, AS LENDER, SECURING THE DEBT OBLIGATION;
PLEDGING THE FULL FAITH, CREDIT, AND TAXING
POWER OF THIS TOWNSHIP IN SUPPORT OF THE
GUARANTY; APPOINTING A SINKING FUND
DEPOSITORY IN CONNECTION WITH THE GUARANTY;
AND AUTHORIZING RELATED ACTIONS AND
DOCUMENTS.”.
Under the Guaranty Agreement approved by the Ordinance, the Township will guarantee the debt service payments due on the Debt Obligation of the Keating Township Municipal Authority. The guaranteed, annual principal and interest payments under the Guaranty Agreement approved by the Ordinance range from a low of $6,666.68 to a maximum of $2,013,333.36. The enacted Ordinance, no amendments having been made, is available for public inspection in the Township offices located at 7160 Route 46, Smethport, Pennsylvania, on any open business day between 8:00 AM and 4:00 PM. This Notice is given in accordance with the Pennsylvania Local
Government Unit Debt Act.
BY ORDER OF THE BOARD OF
SUPERVISORS OF THE
TOWNSHIP OF KEATING, IN MCKEAN COUNTY,
PENNSYLVANIA