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​NOTICE IS HEREBY GIVEN that the Board of Supervisors of the Township of Exeter, Berks County, Pennsylvania (the “Township”), at a meeting of the Board of Supervisors of the Township held on August 24, 2015, enacted an ordinance (the “Ordinance”) authorizing the incurrence of nonelectoral debt and the issuance of its Federally Taxable General Obligation Bond, Series of 2015 in the aggregate principal amount of $1,808,000 (the “Bond”) and the private sale thereof to National Penn Bank, Wyomissing, Pennsylvania (the “Purchaser”), at par, bearing interest from the date of issuance of the Bond for a period of ten years at the rate of 4.05%.  Thereafter for the remaining term of the Bond, interest shall accrue at an annual rate equal to 100% of 30-day LIBOR plus 2.00%; provided, however that the interest rate on the Bond shall not be greater than 6.25% per annum.  The Bond is a general obligation of the Township and its officers are directed to do all acts necessary and proper for the issuance and securing of said Bond.

NOTICE IS ALSO GIVEN that the Ordinance was amended during final passage to reflect the acceptance by the Township of the proposal submitted by the Purchaser, and the terms and conditions of the Purchaser’s proposal for the purchase of the Bond.  Such amendments to the Ordinance pertain principally to the aggregate principal amount, interest rates and maturity dates of the Bond.

  

​Due to the recent passing of Supervisor Ziegler, the Board will accept letters of interest from residents willing to serve through the end of 2015.  Submit letters and resume by September 2nd at noon to:
tbingaman@exetertownship.com or
Troy Bingaman
Township Manager
4975 DeMoss Rd
Reading PA 19606​

 

  

NOTICE IS HEREBY GIVEN that the Board of Supervisors (the “Board”) of the Township of Exeter, Berks County, Pennsylvania (the “Township”), proposes to enact, at a public meeting to be held not less than three (3) days nor more than thirty (30) days as calculated from the date of advertisement of this Notice, an ordinance (the “Ordinance”).  The caption and summary of such proposed Ordinance being as follows:

 

AN ORDINANCE OF THE BOARD OF SUPERVISORS OF THE TOWNSHIP OF EXETER, BERKS COUNTY, PENNSYLVANIA, SETTING FORTH ITS INTENT TO ISSUE A GENERAL OBLIGATION BOND OF THE TOWNSHIP IN THE AGGREGATE PRINCIPAL AMOUNT OF ONE MILLION EIGHT HUNDRED EIGHT THOUSAND DOLLARS ($1,808,000) PURSUANT TO THE ACT OF THE GENERAL ASSEMBLY OF THE COMMONWEALTH OF PENNSYLVANIA, KNOWN AS THE LOCAL GOVERNMENT UNIT DEBT ACT, 53 PA. C.S. CHAPTERS 80-82, AS AMENDED AND SUPPLEMENTED (THE “ACT”); FINDING THAT A PRIVATE SALE BY NEGOTIATION IS IN THE BEST FINANCIAL INTEREST OF THE TOWNSHIP; DETERMINING THAT SUCH BOND SHALL EVIDENCE NONELECTORAL DEBT OF THE TOWNSHIP; SPECIFYING THAT SUCH INDEBTEDNESS IS TO BE INCURRED TO PROVIDE FUNDS TO FINANCE A PROJECT OF THE TOWNSHIP WHICH CONSISTS OF, AMONG OTHER THINGS:  (1) THE ADVANCE REFUNDING OF A PORTION OF THE TOWNSHIP’S GENERAL OBLIGATION NOTES, SERIES OF 2007; AND (2) PAYING THE COSTS AND EXPENSES OF ISSUING THE BOND; SETTING FORTH A REASONABLE ESTIMATE OF THE REMAINING USEFUL LIVES OF THE PROJECTS TO BE REFINANCED; ACCEPTING A COMMITMENT FOR THE PURCHASE OF SUCH BOND AT PRIVATE SALE BY NEGOTIATION; PROVIDING THAT SUCH BOND, WHEN ISSUED, SHALL CONSTITUTE A GENERAL OBLIGATION OF THE TOWNSHIP; FIXING THE FORM, NUMBER, DATE, INTEREST AND MATURITY THEREOF AND PLACE OF PAYMENT OF THE PRINCIPAL OF AND INTEREST ON SUCH BOND; AUTHORIZING SPECIFIED OFFICERS OF THE TOWNSHIP TO CONTRACT WITH THE PAYING AGENT FOR ITS SERVICES IN CONNECTION WITH THE BOND, IF NECESSARY; SETTING FORTH THE SUBSTANTIAL FORM OF THE BOND EVIDENCING THE DEBT; AUTHORIZING EXECUTION AND ATTESTATION OF SUCH BOND; PROVIDING COVENANTS RELATED TO DEBT SERVICE APPLICABLE TO SUCH BOND TO THE EXTENT REQUIRED BY THE ACT AND PLEDGING THE FULL FAITH, CREDIT AND TAXING POWER OF THE TOWNSHIP IN SUPPORT THEREOF; CREATING A SINKING FUND IN CONNECTION WITH SUCH BOND, TO THE EXTENT REQUIRED BY THE ACT; DESIGNATING THE PAYING AGENT TO BE THE SINKING FUND DEPOSITARY; AUTHORIZING THE PURCHASE OF CERTAIN U.S. TREASURY OBLIGATIONS OR ANY OTHER SECURITIES OR INVESTMENTS IN CONNECTION WITH THE PROJECT, IF NECESSARY; AUTHORIZING AND DIRECTING SPECIFIED OFFICERS OF THE TOWNSHIP TO DO, TO TAKE AND TO PERFORM CERTAIN SPECIFIED, REQUIRED, NECESSARY OR APPROPRIATE ACTS TO EFFECT THE ISSUANCE OF THE BOND, INCLUDING, WITHOUT LIMITATION, THE PREPARATION OF A DEBT STATEMENT AND BORROWING BASE CERTIFICATE, AND THE FILING OF SPECIFIED DOCUMENTS WITH THE DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT, ALL AS REQUIRED BY THE ACT; DECLARING THAT THE DEBT TO BE EVIDENCED BY SUCH BOND, TOGETHER WITH ALL OTHER INDEBTEDNESS OF THE TOWNSHIP, WILL NOT BE IN EXCESS OF ANY APPLICABLE LIMITATION IMPOSED BY THE ACT; AUTHORIZING PROPER OFFICERS OF THE TOWNSHIP TO DELIVER THE BOND UPON THE APPROVAL OF THE DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT; PROVIDING WHEN THIS ORDINANCE SHALL BECOME EFFECTIVE; PROVIDING FOR SEVERABILITY OF PROVISIONS; AND REPEALING ALL ORDINANCES OR PARTS OF ORDINANCES INSOFAR AS THE SAME SHALL BE INCONSISTENT HEREWITH.
 

 

A copy of the full proposed text of the Ordinance described above evidencing the nonelectoral debt proposed to be incurred by the Township may be examined by any citizen at the office of the Secretary of the Township in the Township Building, located at 4975 DeMoss Road, Reading, Pennsylvania, on any business day between the hours of 9:00 a.m. and 4:00 p.m., prevailing time.  The Ordinance currently on file will be completed by the insertion of certain information and may be amended upon final enactment by the Board of Supervisors of the Township, as the Board of Supervisors of the Township may deem necessary or appropriate.
 
THE ORDINANCE CURRENTLY ON FILE, AMONG OTHER THINGS, ESTIMATES THAT THE MAXIMUM PRINCIPAL AMOUNT OF NONELECTORAL DEBT TO BE INCURRED BY THE TOWNSHIP TO BE ONE MILLION EIGHT HUNDRED EIGHT THOUSAND DOLLARS ($1,808,000), BUT SUCH AMOUNT MAY BE INCREASED OR DECREASED PRIOR TO FINAL ENACTMENT.
 

 

If the Ordinance is enacted, a Notice of Enactment, including a summary of any omitted details and any amendments made on final enactment will be advertised after enactment and posted in accordance with the provisions of the Act of the General Assembly of the Commonwealth, 53 Pa.C.S. Chapters 80-82, as amended, reenacted and supplemented, from time to time, known as the Local Government Unit Debt Act (the “Act”).  This Notice is published in compliance with the Act.
If you require special accommodations in order to attend Township Meetings, please call the Township Office at (610) 779-5660.  The Township will make every reasonable attempt to accommodate you.

 

  

The tournament is full and, unfortunately, we must turn away additional golfers.  However, we still need sponsors for carts/driving range and prize donations!

 

 Municipal Calendar

 
Start Time
Title
  
9/3/2015 6:30 PMBoard of Supervisors Special Meeting
9/9/2015 6:00 PMStrategic Planner Steering Committee Meeting
9/14/2015 7:00 PMBoard of Supervisors Meeting
9/21/2015 7:00 PMPlanning Commission Meeting
9/23/2015 6:30 PMBudget Meeting
 

 Community Calendar

 
  
  
9/12/2015 12:00 PMeXeter Games
9/16/2015 10:00 AMMOMS Club of Exeter Monthly Meeting
9/25/2015 11:30 AMGolf Tournament
10/9/2015 6:30 PMHayride and Haunted House
10/21/2015 10:00 AMMOMS Club of Exeter Monthly Meeting
 

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