serving 2012-11-29 through 2012-12-06
The purpose of the meeting is to receive input from the public with respect to the issuance of the City Office Bonds and any potential economic impact that the Project financed in whole or in part with the proceeds of the City Office Bonds may have on the private sector. All members of the public are invited to attend and participate.
PARAMETERS OF THE BONDS
The Issuer intends to issue the City Office Bonds in the principal amount of not to exceed $650,000, to bear interest at a rate not to exceed 2.5 percent per annum, to mature in not to more than 35 years from their date or dates, and to be sold at a price not less than 100 percent of the total principal amount thereof, plus accrued interest, if any, to the date of delivery.
The City Office Bonds will specify that any installment of principal on the City Office Bonds which shall not be paid when due shall bear interest at the rate of 18 percent per annum from the due date thereof until paid.
The City Office Bonds are to be issued and sold by the Issuer pursuant to said resolution of the Board of Trustees of the Authority duly adopted on November 20, 2012, and pursuant to the provisions of the Utah Local Building Authority Act, Chapter 2 of Title 17D of the Utah Code Annotated 1953, as amended (the "Act"), are to be issued for the purpose of defraying the cost of renovation and expansion of the city office building and related facilities, and for paying all costs incident thereto and to the authorization and issuance of the City Office Bonds.
A copy of the Resolution is on file in the office of the City Recorder in Fairview, Utah, where it may be examined during regular business hours of the City Recorder from 9:00 a.m. to 3:00 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 pursuant to law for a period of thirty (30) days from and after the date of the publication of this notice, any person in interest shall have the right to contest the legality of the above-described Resolution of the Board of Trustees of the Authority adopted on November 20, 2012, the Master Resolution (only as it relates to the City Office Bonds), or the City Office Bonds or any provision made for the security and payment of the City Office 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.
DATED this 20th day of November, 2012.
NOTICE OF PUBLIC HEARING
AND BONDS TO BE ISSUED
NOTICE IS HEREBY GIVEN that on November 20, 2012, the Board of Trustees of the Local Building Authority of Fairview City, Sanpete County, Utah (the "Issuer"), adopted a resolution (the Resolution) declaring its intention to issue its City Office Lease Revenue Bonds (the City Office Bonds) pursuant to the provisions of the Utah Government Bonding Act, Title 11, Chapter 14, Utah Code Annotated 1953, as amended and the Utah Local Building Authority Act, Title 17D, Chapter 2, Utah Code Annotated 1953, as amended (collectively, the Act) and to call a public hearing to receive input from the public with respect to the issuance of the City Office Bonds and the potential economic impact on the private sector that the facility funded by the City Office Bonds may have.AND BONDS TO BE ISSUED
TIME, PLACE AND LOCATION OF PUBLIC HEARING
The Issuer shall hold a public hearing on December 18, 2012, at the hour of 6:00 p.m. The location of the public hearing is the Dance Hall, 65 South State, Fairview, Utah. The purpose of the meeting is to receive input from the public with respect to the issuance of the City Office Bonds and any potential economic impact that the Project financed in whole or in part with the proceeds of the City Office Bonds may have on the private sector. All members of the public are invited to attend and participate.
PURPOSE FOR ISSUING BONDS
The Issuer intends to issue the City Office Bonds for the purpose of (i) financing a portion of the cost of renovation and expansion of the city office building and related facilities; and (ii) paying costs of issuing the City Office Bonds.PARAMETERS OF THE BONDS
The Issuer intends to issue the City Office Bonds in the principal amount of not to exceed $650,000, to bear interest at a rate not to exceed 2.5 percent per annum, to mature in not to more than 35 years from their date or dates, and to be sold at a price not less than 100 percent of the total principal amount thereof, plus accrued interest, if any, to the date of delivery.
The City Office Bonds will specify that any installment of principal on the City Office Bonds which shall not be paid when due shall bear interest at the rate of 18 percent per annum from the due date thereof until paid.
The City Office Bonds are to be issued and sold by the Issuer pursuant to said resolution of the Board of Trustees of the Authority duly adopted on November 20, 2012, and pursuant to the provisions of the Utah Local Building Authority Act, Chapter 2 of Title 17D of the Utah Code Annotated 1953, as amended (the "Act"), are to be issued for the purpose of defraying the cost of renovation and expansion of the city office building and related facilities, and for paying all costs incident thereto and to the authorization and issuance of the City Office Bonds.
A copy of the Resolution is on file in the office of the City Recorder in Fairview, Utah, where it may be examined during regular business hours of the City Recorder from 9:00 a.m. to 3:00 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 pursuant to law for a period of thirty (30) days from and after the date of the publication of this notice, any person in interest shall have the right to contest the legality of the above-described Resolution of the Board of Trustees of the Authority adopted on November 20, 2012, the Master Resolution (only as it relates to the City Office Bonds), or the City Office Bonds or any provision made for the security and payment of the City Office 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.
DATED this 20th day of November, 2012.
Jan Andersen,
City Recorder
Published in The Pyramid November 29 and December 6, 2012.
City Recorder