An ordinance of the Board of Supervisors of this township determining to incur debt in the maximum principal amount of $350,000 evidenced by lease rental debt which shall be the several and proportionate share (50%) of the guaranteed sewer project note – series of 1999, in the maximum principal amount of $700,000, to be authorized and issued by Northeastern Schuylkill Joint Municipal Authority in connection with the following: (1) design, acquisition and construction of sanitary sewage collection, transmission, treatment and disposal system facilities in and about this township and the township of Ryan, Schuylkill County, Pennsylvania, (2) currently refunding and retiring the sewer project note – series of 1999 of said authority, and (3) the payment of costs and expenses of issuing said guaranteed sewer project note – series of 1999; providing the manner of sharing, severally ( and not on a joint basis), the maximum principal amount of such indebtedness; authorizing specified officers of this township to take certain actions and to execute certain document s in connection with incurring said debt; pledging the full faith in support of the several guaranty obligations of this township under a guaranty agreement, by and among this township and the township of Ryan, Schuylkill County, Pennsylvania, severally, as guarantors, said authority and Keystone Financial Bank, N.A., as lender, with respect to said note; providing for the several guaranty of this township of payment of the principal of and interest on said note; appointing a sinking fund depository; and providing for repeal of all inconsistent ordinances or parts of ordinances.
