Public Notice: 02/23/2025 [250b0f1ae34f630d3c208624c55dc0d6]

NOTICE OF ENACTMENT OF AN ORDINANCE AUTHORIZING THE ISSUANCE OF NONELECTORAL DEBT NOTICE IS HEREBY GIVEN that the Borough Council of Borough of East Stroudsburg, Monroe County, Commonwealth of Pennsylvania (the Borough), at the regular public meeting onFebruary 18, 2025 enacted an Ordinance that authorized the incurrence of nonelectoral debt in the aggregate principal amount of $5,273,000 by the issuance of the Borough of its (i) $1,625,000 General Obligation Bond, Series of 2025 (the 2025 Bond); (ii) $279,000 General Obligation Bond, Taxable Series A of 2025 (the 2025 Taxable Bond); and (iii) $3,369,000 General Obligation Note, Series AA of 2025 (the 2025AA Note, and, together with the 2025 Bond and the 2025 Taxable Bond, the 2025 Obligations). The Ordinance authorized the private sale of the 2025 Obligations to First Northern Bank & Trust Co., as lender, at par. The 2025 Bond and the 2025AA Note shall each bear interest at a fixed rate of 3.95% until April 1, 2030, after which the rate shall be variable subject to a maximum rate of 5.50%. The 2025 Taxable Bond shall bear interest at a rate of 5.00%. The authorized debt service schedules were included in the final ordinance. The 2025 Obligations are general obligations of the Borough and its officers are directed to do all acts necessary and proper for the issuance and securing of said 2025 Obligations. Section 9 of the Ordinance was amended in final passage to read as follows: 9. The advertisement of a pre-enactment summary of this Ordinance pursuant to the requirements of the Debt Act by or on behalf of the Borough Manager is hereby ratified and approved in all respects. The advertisement of a post-enactment summary of any changes to this Ordinance during enactment, pursuant to the requirements of the Debt Act, by or on behalf of the Borough Manager is hereby authorized and approved, and the Borough Manager and/or the Secretary is hereby directed to publish a notice of the enactment of this Ordinance in accordance with the requirements of the Debt Act In accordance with the Local Government Unit Debt Act, a copy of the final text of the Ordinance, as enacted above, may be examined by any citizen in the Office of the Secretary of the Borough, located in the East Stroudsburg Municipal Building, 24 Analomink Street, East Stroudsburg, Pennsylvania, Monday through Friday between the hours of 8:00 A.M. and 5:00 P.M, prevailing time. BOROUGH OF EAST STROUDSBURG By: Kelly Lewis, Borough Manager February 23 2025 LSOM0245521