serving 2012-06-28 through 2012-07-05
PUBLIC NOTICE IS HEREBY GIVEN that on June 19, 2012, the Mayor and City Council of Fairview City (the "Issuer"), adopted a resolution (the Resolution) declaring its intention to issue its Sales Tax Revenue Bonds (the Bonds) pursuant to the Utah Government Bonding Act, Title 11, Chapter 14, Utah Code Annotated 1953, as amended and to call a public hearing to receive input from the public with respect to the issuance of the Bonds.
The Issuer shall hold a public hearing on July 17, 2012, at the hour of 6:00 p.m. The location of the public hearing is in the Fairview City Offices, 165 North State, Fairview, Utah.
The purpose of the meeting is to receive input from the public with respect to the issuance of the Bonds and any potential economic impact to the private sector from the construction of the Project to be funded by the Bonds. All members of the public are invited to attend and participate.
The Bonds will specify that any installment of principal on the Bonds which shall not be paid when due shall bear interest at the rate of 18% per annum from the due date thereof until paid.
NOTICE IS FURTHER GIVEN that a period of 30 days from and after the last date of publication of this Notice is provided by law during which (i) any person in interest shall have the right to contest the legality of the Resolution or the Bonds, or any provision made for the security and payment of the Bonds, and that after such time, no one shall have any cause of action to contest the regularity, formality or legality thereof for any cause whatsoever, and (ii) registered voters in Fairview City, Utah, may sign a written petition requesting an election to authorize the issuance of the Bonds.
If written petitions which have been signed by at least 20% of the registered voters of Fairview City, Utah, are filed with the Issuer during said 30-day period, the Issuer shall be required to hold an election to obtain voter authorization prior to the issuance of the Bonds. If fewer than 20% of the registered voters of Fairview City, Utah, file a written petition during said 30-day period, the Issuer may proceed to issue the Bonds without an election.
DATED this 19th day of June, 2012.
NOTICE OF PUBLIC HEARING
AND BONDS TO BE ISSUED
PUBLIC NOTICE IS HEREBY GIVEN that on June 19, 2012, the Mayor and City Council of Fairview City (the "Issuer"), adopted a resolution (the Resolution) declaring its intention to issue its Sales Tax Revenue Bonds (the Bonds) pursuant to the Utah Government Bonding Act, Title 11, Chapter 14, Utah Code Annotated 1953, as amended and to call a public hearing to receive input from the public with respect to the issuance of the Bonds.
TIME, PLACE AND LOCATION OF PUBLIC HEARING
The Issuer shall hold a public hearing on July 17, 2012, at the hour of 6:00 p.m. The location of the public hearing is in the Fairview City Offices, 165 North State, Fairview, Utah.The purpose of the meeting is to receive input from the public with respect to the issuance of the Bonds and any potential economic impact to the private sector from the construction of the Project to be funded by the Bonds. All members of the public are invited to attend and participate.
PURPOSE FOR ISSUING BONDS
The Issuer intends to issue the Bonds for the purpose of (i) financing a portion of the cost of purchasing a fire truck and related equipment (the Project); and (ii) paying costs of issuing the Bonds.PARAMETERS OF THE BONDS
The Issuer intends to issue the Bonds in the principal amount of not to exceed $150,000, to bear interest at a rate not to exceed 5.0% per annum, to mature in not to more than 15 years from their date or dates, and to be sold at a price not less than 100% of the total principal amount thereof, plus accrued interest to the date of delivery. The Bonds will specify that any installment of principal on the Bonds which shall not be paid when due shall bear interest at the rate of 18% per annum from the due date thereof until paid.
SALES TAXES PROPOSED TO BE PLEDGED
The Issuer proposes to pledge all of the sales tax revenues received by the Issuer pursuant to Sections 59-12-103, et. seq., Utah Code Annotated 1953, as amended for the repayment of the Bonds. copy of the Resolution is on file in the office of the City Recorder in Fairview City, Utah, where it may be examined during regular business hours of the City Recorder from 8:00 a.m. to 4:00 p.m., Monday through Friday, for a period of at least 30 days from and after date of the last date of publication of this Notice.NOTICE IS FURTHER GIVEN that a period of 30 days from and after the last date of publication of this Notice is provided by law during which (i) any person in interest shall have the right to contest the legality of the Resolution or the Bonds, or any provision made for the security and payment of the Bonds, and that after such time, no one shall have any cause of action to contest the regularity, formality or legality thereof for any cause whatsoever, and (ii) registered voters in Fairview City, Utah, may sign a written petition requesting an election to authorize the issuance of the Bonds.
If written petitions which have been signed by at least 20% of the registered voters of Fairview City, Utah, are filed with the Issuer during said 30-day period, the Issuer shall be required to hold an election to obtain voter authorization prior to the issuance of the Bonds. If fewer than 20% of the registered voters of Fairview City, Utah, file a written petition during said 30-day period, the Issuer may proceed to issue the Bonds without an election.
DATED this 19th day of June, 2012.
Jan Anderson,
City Recorder
Published in The Pyramid June 28 and July 5, 2012.
City Recorder