TOWN OF SELBYVILLE PUBLIC NOTICE
The Town of Selbyville announces that, after a Public Hearing held on May 1, 2017, the Mayor and Council voted to approve the issuance of up to $500,000 maximum principal amount of general obligation bonds to provide financing for the construction costs associated with the Town’s approved MTBE removal project to provide drinking water system treatment for the removal of the contaminant, said amount to include the payment of the costs associated therewith, (hereinafter referred to as “the proposed borrowing”) and ordered that a Special Election be held for the purpose of voting for or against the proposed borrowing. The Town anticipates that the bonds will be payable over a 30 year period, with interest at 0% per annum and 100% principal forgiveness upon completion of the MTBE removal project.
The Special Election was held on June 3, 2017, at the Selbyville Town Hall from 9:00 a.m. until 3:00 p.m. The proposed borrowing was
approved by a majority of those casting votes at said Special Election. The official Special Election results were 62 votes in favor of the
proposed borrowing and 2 votes against the proposed borrowing.
Any person desiring to challenge the authorization of such bonds or certificates of indebtedness must bring his or her action with sixty (60) days from the date of this publication or forever be barred from doing so.
CP 20170609 1T