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WEIRTON -- Weirton Council, as part of its meeting Monday, approved a resolution authorizing the issuance of notes in support of planned improvement projects by Weirton Medical Center.
Council held a public hearing prior to Monday's meeting, with no residents speaking on the matter, and then later voted 7-0 in favor of the resolution authorizing "the issuance by the City of Weirton of the Notes to Assist WMC in Financing the Project."
City Attorney Vince Gurrera reported he had spoken with the hospital's legal counsel on the matter.
"They asked for council's support," Gurrera said. "They'd like the public's support."
The City of Weirton will actas the "issuer" of the revenue notes for the benefit of the hospital, which is a nonprofit corporation and exempt from federal income taxation under IRS codes.
The aggregate principal amount of the notes will not exceed $8 million, according to the public notice advertising Monday's hearing, and will be used in support of capital improvements to the hospital and paying for the related financing costs.
No specific details on potential projects have been made available.
According to the public notice, "The Notes will be limited obligations of the Issuer and will not constitute a debt or a pledge of the taxing power of the City of Weirton, the State of West Virginia, or any political subdivision thereof," which officials explained means the city will not be liable to cover any of the costs associated with the project, serving as a pass-through agency for the notes.
"The city's not on the hook," Ward 3 Councilman Fred Marsh said.
The City of Weirton has approved similar resolutions in support of projects at the hospital in the past.
In other business Monday, Weirton Council approved:
The second reading of Ordinance 2208, repealing and replacing Article 513 "Explosives" of the Codified Ordinances of the City of Weirton;
A resolution to renew the city's annual support contract with AccuFund Inc. for accounting software, at a cost of $8,999.25;
A resolution authorizing a per capita contribution of $5,940 to the Brooke-Hancock-Jefferson Metropolitan Planning Commission;
The purchase of parts and labor for the engine repair of a city garbage truck, known as Bolt Truck 57, at $13,993,29;
Authorizing an agreement with Don Parker Sales Inc. for repairs to the Public Works' hydraulic vehicle lift at a cost of $9,283.95;
The first reading of an ordinance abandoning an unopened portion of South 20th Street, 40 feet wide and 143 feet long in Buckingham Heights Addition 1;
The appointment of Allen Hess to the city's Planning Commission;
A contract for GASB 34 accounting services with Kozicki, Hughes & Tickerhoof PLLC, not to exceed $30,000;
A revision to the 2023-24 general fund budget, resulting from the transfer of an employee from Municipal Building janitorial to Public Works;
The renewal of a lease with the State of West Virginia, at $1, for the Brooke-Hancock Veterans Memorial Park Inc.