Notice is hereby given that on December 17, 2024 7:00 P.M. at the East Rockhill Township Building, 1622 Ridge Road, Perkasie, PA, the East Rockhill Township Board of Supervisors will hold a public hearing and act upon an Ordinance, of which this Notice is a summary, authorizing the issuance of $1,750,000.00 at a private sale to QNB Bank, principal amount of the General Obligation Note, Series of 2025 (the “Note”) for the purpose of the design and construction of the Public Works Building Project within the Township. If enacted, the Ordinance will award the Note to the purchaser thereof, approve the form of the Note, fix the rate of interest to be paid at the rate of 4.27% over the initial five (5) years of the twenty (20) year term of the Note, following which the rate of interest shall adjust annually to a fixed, tax exempt rate equal to 70% of the Wall Street Journal Prime Rate, subject to a maximum rate of 6.0%. The Ordinance will further pledge the full faith, credit and taxing power of East Rockhill Township for the payment thereof, create a sinking fund, and authorize the proper officers to take the necessary steps to issue the Note. The Note is a general obligation of East Rockhill Township and its officers are directed to do all acts necessary and proper for the issuance and securing of said Note.
A copy of the full text of the enacted Ordinance may be examined in the office of the Township Secretary at the Township offices located at the East Rockhill Township Building, 1622 Ridge Road, Perkasie, PA on weekdays from 8:00 A.M. to 4:00 P.M., unless posted otherwise, the Bucks County Law Library and the offices of the Intelligencer newspaper during normal business hours.
