NOTICE
THIS NOTICE IS HEREBY GIVEN that on June 3, 2026, at 9:00 a.m. at 626 State Street, Erie, Pennsylvania, the members of City Council of the City of Erie, Erie County, Pennsylvania, at a meeting duly called and held enacted an Ordinance (the “Ordinance”). The summary of this Ordinance is as follows:
The Ordinance authorizes the incurrence of lease rental debt to the Pennsylvania Infrastructure Investment Authority, evidenced by the guaranteed revenue Bond in an amount not to exceed $2,784,063, principal amount to be authorized and issued by Erie City Water Authority (“Authority”) in connection with the construction alterations and improvements to the water system facilities located in and about this City of Erie including, but not limited to, Customer Side Galvanized Service Line Replacement Project – Phase Five (the “Project”); provides for the payment of associated related costs, fees and expenses; specifies the realistic useful life of the Project; authorizes and directs appropriate officers of the City of Erie to take certain actions and to execute certain documents, including a guaranty agreement between the City of Erie as Guarantor, the Authority and the Pennsylvania Infrastructure Investment Authority; approves the form, maximum guaranteed amounts, and sources of payment of the guaranty agreement, and of this City of Erie in support thereof; creates a sinking fund in connection with such guaranty obligations and appoints a sinking fund depository and provides for the repeal of all inconsistent ordinances or parts of ordinances.
A copy of the full text of the proposed Ordinance and Guaranty Agreement approved by this Ordinance may be examined by any citizen in the office of the City Clerk of the City of Erie at the City Clerk’s office at 626 State Street, Erie, Pennsylvania, on any business day (except Saturdays and Sundays) between the hours of 9:00 A.M. and 4:00 P.M., prevailing time.
Under the approved Guaranty Agreement, the maximum monthly and annual debt service payments on the guaranteed revenue bond of $2,784,063 that are guaranteed by the City of Erie will be $8,954.65 per month and $107,455.80 per year with an interest rate of 1.000% for the term of thirty (30) years.
This Notice is given in accordance with the requirements of Section 8003 of the Pennsylvania Local Government Unit Debt Act.
Laurie Rugare Watson, City Clerk
City of Erie
Municipal Building
626 State Street
Erie, PA 16501
Timothy M. Sennett, Esquire
Knox McLaughlin Gornall & Sennett, P.C.
120 West Tenth Street
Erie, PA 16501
(814) 459-2800
(6-12364805-NT-4)