serving 2013-06-10 through 2013-06-17
NOTICE OF PUBLIC HEARING AND BONDS TO BE ISSUED CITY OF WASHINGTON TERRACE, WEBER COUNTY, UTAH PUBLIC NOTICE IS HEREBY GIVEN that on June 4, 2013, the City Council (the "Council ") of City of Washington Terrace, Weber County, Utah (the "Issuer ") adopted a resolution (the "Resolution ") declaring its intention to issue Sales Tax Revenue Refunding Bonds, Series 2013 (the "Bonds ") pursuant to the Utah Refunding Bond Act, Title 11, Chapter 27, 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 2, 2013, at the hour of 6:00 p.m., or as soon thereafter as feasible. The location of the public hearing is at the Issuer 's offices at 5249 S. South Pointe Dr. in Washington Terrace, Utah. The purpose of the meeting is to receive input from the public with respect to the issuance of the Bonds. All members of the public are invited to attend and participate. As sales tax revenue bonds, no ad valorem property taxes will be pledged to repay the Bonds. PURPOSE FOR ISSUING BONDS The Issuer intends to issue the Bonds for the purpose of refinancing the Issuer 's outstanding (i) Sales Tax Revenue Bonds, Series 2009 and Special Assessment Bonds, Series 2001 (collectively, the "Refunded Bonds "), (ii) funding a deposit to a debt service reserve fund, if desirable, and (iii) paying issuance expenses to be incurred in connection with the issuance and sale of the Bonds. The estimated total cost to the Issuer for the proposed Bonds if the Bonds are held until maturity, based on interest rates in effect at this time is $1,325,000. PARAMETERS OF THE BONDS The Issuer intends to issue the Bonds in the principal amount of not to exceed $1,350,000, to bear interest at a rate or rates of not to exceed 3.0% per annum, to mature in not more than fifteen years (15) years from their date or dates, and to be sold at a price not less than 97.0% of the total principal amount thereof, plus accrued interest to the date of delivery. EXCISE TAXES PROPOSED TO BE PLEDGED The Issuer proposes to pledge all the Local Sales and Use Tax funds received by Issuer pursuant to Title 59, Chapter 12, Part 2, Utah Code Annotated 1953, as amended, for repayment of the Bonds. Other than some of the Refunded Bonds, the Issuer does not have any other outstanding bonds secured by these sales taxes. The Bonds are to be issued and sold by the Issuer pursuant to the Resolution, including as part of said Resolution the draft of a Final Bond Resolution, a General Indenture of Trust and a First Supplemental Indenture of Trust which were before the Council and attached to the Resolution in substantially final form at the time of the adoption of the Resolution and said Final Bond Resolution, a General Indenture of Trust and a First Supplemental Indenture of Trust are to be adopted by the Council in such form and with such changes thereto as shall be approved by the Council upon the adoption thereof; provided that the principal amount, interest rate or rates, maturity and discount of the Bonds will not exceed the maximums set forth above. Copies of the Resolution, the Final Bond Resolution, the General Indenture of Trust and the First Supplemental Indenture of Trust are on file in the office of the City Recorder of the Issuer in Washington Terrace, Utah, where they may be examined during regular business hours of the City Recorder from 8:00 a.m. to 5:00 p.m. for a period of at least thirty (30) days from and after the last date of publication of this notice. NOTICE IS HEREBY GIVEN that a period of thirty (30) days from and after the last date of the 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, the Final Bond Resolution, the General Indenture of Trust, the First Supplemental Indenture of Trust or the Bonds, or any provision made for the security and payment of the Bonds by filing a verified written complaint in the district court in Weber County, 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 within the Issuer 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 City of Washington Terrace, 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 City of Washington Terrace, Utah, file a written petition during said 30-day period, the Issuer may proceed to issue the Bonds without an election. /s/ Amy Rodriguez City Recorder Pub.: June 10, 17, 2013. 523527
NOTICE OF PUBLIC HEARING AND BONDS TO BE ISSUED CITY OF WASHINGTON TERRACE, WEBER COUNTY, UTAH PUBLIC NOTICE IS HEREBY GIVEN that on June 4, 2013, the City Council (the "Council ") of City of Washington Terrace, Weber County, Utah (the "Issuer ") adopted a resolution (the "Resolution ") declaring its intention to issue Sales Tax Revenue Refunding Bonds, Series 2013 (the "Bonds ") pursuant to the Utah Refunding Bond Act, Title 11, Chapter 27, 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 2, 2013, at the hour of 6:00 p.m., or as soon thereafter as feasible. The location of the public hearing is at the Issuer 's offices at 5249 S. South Pointe Dr. in Washington Terrace, Utah. The purpose of the meeting is to receive input from the public with respect to the issuance of the Bonds. All members of the public are invited to attend and participate. As sales tax revenue bonds, no ad valorem property taxes will be pledged to repay the Bonds. PURPOSE FOR ISSUING BONDS The Issuer intends to issue the Bonds for the purpose of refinancing the Issuer 's outstanding (i) Sales Tax Revenue Bonds, Series 2009 and Special Assessment Bonds, Series 2001 (collectively, the "Refunded Bonds "), (ii) funding a deposit to a debt service reserve fund, if desirable, and (iii) paying issuance expenses to be incurred in connection with the issuance and sale of the Bonds. The estimated total cost to the Issuer for the proposed Bonds if the Bonds are held until maturity, based on interest rates in effect at this time is $1,325,000. PARAMETERS OF THE BONDS The Issuer intends to issue the Bonds in the principal amount of not to exceed $1,350,000, to bear interest at a rate or rates of not to exceed 3.0% per annum, to mature in not more than fifteen years (15) years from their date or dates, and to be sold at a price not less than 97.0% of the total principal amount thereof, plus accrued interest to the date of delivery. EXCISE TAXES PROPOSED TO BE PLEDGED The Issuer proposes to pledge all the Local Sales and Use Tax funds received by Issuer pursuant to Title 59, Chapter 12, Part 2, Utah Code Annotated 1953, as amended, for repayment of the Bonds. Other than some of the Refunded Bonds, the Issuer does not have any other outstanding bonds secured by these sales taxes. The Bonds are to be issued and sold by the Issuer pursuant to the Resolution, including as part of said Resolution the draft of a Final Bond Resolution, a General Indenture of Trust and a First Supplemental Indenture of Trust which were before the Council and attached to the Resolution in substantially final form at the time of the adoption of the Resolution and said Final Bond Resolution, a General Indenture of Trust and a First Supplemental Indenture of Trust are to be adopted by the Council in such form and with such changes thereto as shall be approved by the Council upon the adoption thereof; provided that the principal amount, interest rate or rates, maturity and discount of the Bonds will not exceed the maximums set forth above. Copies of the Resolution, the Final Bond Resolution, the General Indenture of Trust and the First Supplemental Indenture of Trust are on file in the office of the City Recorder of the Issuer in Washington Terrace, Utah, where they may be examined during regular business hours of the City Recorder from 8:00 a.m. to 5:00 p.m. for a period of at least thirty (30) days from and after the last date of publication of this notice. NOTICE IS HEREBY GIVEN that a period of thirty (30) days from and after the last date of the 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, the Final Bond Resolution, the General Indenture of Trust, the First Supplemental Indenture of Trust or the Bonds, or any provision made for the security and payment of the Bonds by filing a verified written complaint in the district court in Weber County, 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 within the Issuer 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 City of Washington Terrace, 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 City of Washington Terrace, Utah, file a written petition during said 30-day period, the Issuer may proceed to issue the Bonds without an election. /s/ Amy Rodriguez City Recorder Pub.: June 10, 17, 2013. 523527