Public Hearing for Tax Exempt Loan
Notice is hereby given that on Tuesday, February 22, 2022, at 5:30 p.m., a public hearing, as required by Section 147(f) of the Internal Revenue Code, as amended, will be held by the Board of Directors of the Pecan Grove Municipal Utility District (the “PGMUD”), a political subdivision of the State of Texas, for Pecan Grove Volunteer Fire Department, a Texas non-profit volunteer fire department organized under the laws of the State of Texas, with respect to the issuance and making of a tax-exempt bond (“Promissory Note”) by Pecan Grove Volunteer Fire Department (“PGVFD”)with Government Capital Corporation. The proposed Promissory Note will be used by PGVFD to finance the remodeling construction of Fire Station No. 1 (Pitts Road), all in furtherance of the firefighting service agreement between the PGVFD and PGMUD.
The Promissory Note is to be issued by PGVFD and the proceeds will be used by PGVFD, as Issuer, as indicated above, and in accordance with such terms and conditions (including payment terms, rate of interest, security, etc.) as set forth in the tax-exempt Promissory Note. The maximum principal amount of the tax-exempt Promissory Note, will be no greater than $900,000.00. The Promissory Note will be an obligation of the Pecan Grove Volunteer Fire Department. The fire station the subject of the Promissory Note is Station 1, located at 727 Pitts Rd., Richmond, TX 77406.
The hearing will provide a reasonable opportunity to provide comment. All interested persons are invited to attend the public hearing - or may file written comments with the PGVFD (Station 1, 727 Pitts Rd., Richmond, TX 77406) or PGMUD (1727 FM 359 Rd., Richmond, TX 77406) prior to the date of hearing - to express any comments they may have regarding the proposed execution and issuance of the tax-exempt Promissory Note.
Persons with disabilities who plan to participate in or attend this meeting and would like to request auxiliary aids or services are requested to contact the PGMUD attorney at
(713) 860-6400 at least three business days prior to the meeting so that appropriate arrangements may be made.
PECAN GROVE VOLUNTEER FIRE DEPARTMENT
727 Pitts Rd
Richmond, TX 77406
Dated: February 3, 2022
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