Merger Process. To effectuate the foregoing, the Parties, having established a joint committee to implement the process provided in Section 3082a, and having obtained approval of the Preliminary Merger Plan (“PMP”) by their respective Governing Boards on July 9, 2024 and July 11, 2024; distributed copies of the PMP to the legislative bodies of their respective member municipalities within 45 days of the public hearing on the PMP; distributed, posted, and published in local newspaper and other paid media notice of the public hearing more than three days before the public hearing; held a public hearing on the PMP on July 16, 2024 and distributed notice of the PMP to each known creditor of their respective districts on July 12, 2024, and prepared the FMP which was sent to the Governing Boards of both CUDs on August 12, 2024, shall: (a) obtain approval of their respective Governing Boards of the FMP; and (b) take such other actions as may be necessary to close the Merger and provide notice to the Vermont Secretary of State and others entitled to notice thereof.
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Sources: Merger Agreement, Merger Agreement