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Wheeling council approves up to $12 million Ogilvy Park revenue bond to fund lodge and zoo projects
Summary
The Wheeling City Council unanimously adopted an ordinance Oct. 21 authorizing up to $12 million in Ogilvy Park improvement revenue bonds to fund renovations at Wilson Lodge and upgrades at the Good Zoo, council minutes show.
Wheeling — The Wheeling City Council unanimously adopted an ordinance Oct. 21 authorizing the issuance of not more than $12,000,000 in Ogilvy Park improvement revenue bonds to finance a portion of improvements at Oglebay (Ogilvy) Park.
Park representatives Jim Gardil and Bob Peckinpaugh told the council during a public hearing that the Park Commission will pledge gross revenues to repay the bonds and that a single purchaser, West Bank Road Bank, is expected to buy the private placement. “This is a $12,000,000 bond issue … the park commission will pledge gross revenues to repay the…
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