The Borough Council of the Borough of Green Lane, Montgomery County, Pennsylvania (the “Borough”) at its public meeting scheduled for Thursday, June 11, 2026, at 7:00 P.M., prevailing local time, will, among other things, receive a proposal from a bank to be selected by the Borough (the “Bank”) for the purchase of the Borough’s General Obligation Note, Series of 2026 in the estimated stated principal amount of $500,000 (the “Note”) and will take other action in connection with the incurring of non-electoral debt through the issuance of such Note and at such meeting, or in the alternative at a meeting of the governing body of the Borough held not less than three (3) nor more than thirty (30) days from the date of advertisement of this notice, the Borough will consider the enactment of an ordinance (the “Ordinance”) summarized as follows:
The Ordinance authorizes the sale of the Note by private sale by negotiation and the issuance of the Note; determines that a private sale by negotiation is in the best financial interest of the Borough; awards the Note to the Bank, upon the terms of the Bank’s proposal; approves the terms and substantial form of the Note, fixes the rates of interest to be paid, pledges the full faith and credit of the Borough for the payment thereof; authorizes the proper officers of the Borough to contract with a paying agent, bond registrar and sinking fund depository; sets forth covenants with respect to the tax status of the Note; designates the Note as a “qualified tax-exempt obligation”; and authorizes the proper officers to take the necessary steps to issue the Note.
The funds to be obtained from the Note will be used to finance (i) the acquisition of the real property located at 209 Walnut Street, Green Lane Borough, Montgomery County, Pennsylvania (the “Property”); (ii) the planning, designing, constructing, equipping, furnishing and financing of renovations and additions to the Property; and (iii) the costs of issuing the Note.
Omissions from the Ordinance, as proposed, as well as any amendments thereto, will be supplied at the time of the enactment of the Ordinance if the Borough shall determine to proceed.
Full copies of the proposed ordinance may be examined (i) during regular office hours at the Borough Hall at the Green Lane Fire House, (ii) during normal business hours at the Law Library of Montgomery County, located on the 10th floor of One Montgomery Plaza, 425 Swede Street, Norristown, PA, and (iii) during normal business hours at the office of the newspaper in which this Legal Notice appears. See full legal notice here. See full ordinance here.
All interested persons are invited to attend. If you are a person with a disability and wish to attend the above-noted meeting and require a service or other accommodation to participate in the proceedings, please contact the Borough at (215) 234-8633 at least two (2) days prior to the date of the meeting to discuss how the Borough may best accommodate your needs.