serving 2013-08-02 through 2013-08-09
NOTICE OF PUBLIC HEARING AND BONDS TO BE ISSUED NOTICE IS HEREBY GIVEN pursuant to the provisions of the Local Government Bonding Act, Title 11, Chapter 14, Utah Code Annotated 1953, as amended, that on July 30, 2013, the City Council (the "Council ") of Ogden City, Utah (the "Issuer "), adopted a resolution (the "Resolution ") in which it authorized the issuance of the Issuer 's Storm Drain Revenue Bonds, Series 2013 (the "Series 2013 Bonds ") (to be issued in one or more series and with such other series or title designation(s) as may be determined by the Issuer) and called a public hearing. PURPOSE, TIME, PLACE AND LOCATION OF PUBLIC HEARING The Issuer shall hold a public hearing on August 20, 2013, at the hour of 6:00 p.m. at 2549 Washington Blvd., Ogden, Utah. The purpose of the hearing is to receive input from the public with respect to (a) the issuance of the Series 2013 Bonds and (b) any potential economic impact that the project to be financed with the proceeds of the Series 2013 Bonds may have on the private sector. All members of the public are invited to attend and participate. PURPOSE FOR ISSUING THE SERIES 2013 BONDS The Series 2013 Bonds will be issued for the purpose of (a) financing improvements to the Issuer 's storm drain system (the "System "), including but not limited to the construction and installation of new or upgraded storm water collection lines, storm water detention or retention ponds, storm water pretreatment facilities and related improvements throughout the Issuer but with a primary emphasis on projects required to alleviate storm water collection and conveyance needs associated with Harrison Boulevard, (b) funding any required debt service reserve fund, and (c) paying costs of issuance of the Series 2013 Bonds. REVENUES TO BE PLEDGED The Series 2013 Bonds are special limited obligations of the Issuer payable from the net revenues of the System. PARAMETERS OF THE SERIES 2013 BONDS The Issuer intends to issue the Series 2013 Bonds in the aggregate principal amount of not more than Five Million Five Hundred Thousand Dollars ($5,500,000), to mature in not more than twenty-five (25) years from their date or dates, to be sold at a price not less than ninety-seven percent (97%) of the total principal amount thereof, and bearing interest at a rate or rates not to exceed six percent (6.0%) per annum. The Series 2013 Bonds are to be issued and sold by the Issuer pursuant to the Resolution, including as part of said Resolution, a General Indenture of Trust and a Supplemental Indenture of Trust (collectively "Indenture ") which Indenture was before the Council in substantially final form at the time of the adoption of the Resolution and said Indenture is to be executed by the Council in such form and with such changes thereto as shall be approved by the Mayor or Mayor pro tem; provided that the principal amount, interest rate or rates, maturity, and discount of the Series 2013 Bonds will not exceed the maximums set forth above. OUTSTANDING BONDS SECURED BY REVENUES Other than the proposed Series 2013 Bonds, the Issuer currently has $1,860,000 principal amount of bonds outstanding secured by the net revenues of the System. OTHER OUTSTANDING BONDS OF THE ISSUER Information regarding all of the Issuer 's outstanding bonds may be found in the Issuer 's audited financial report (the "Financial Report ") at: http://www.ogdencity.com/en/government/city_budget.aspx. For additional information more recent than as of the date of the Financial Report please contact Mike Goodwin, City Treasurer (phone: 801-629-8761). TOTAL ESTIMATED COST Based on an estimate of the current interest rate and financing plan, the estimated total debt service cost of the Series 2013 Bonds, if held until maturity is $6,860,000. A copy of the Resolution and the Indenture are on file in the office of the Ogden City Recorder, 2549 Washington Blvd., Ogden, 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 date of publication of this notice. NOTICE IS FURTHER GIVEN that a period of thirty (30) days from and after the date of the publication of this notice is provided by law during which any person in interest shall have the right to contest the legality of the Resolution, the Indenture, or the Series 2013 Bonds, or any provision made for the security and payment of the Series 2013 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 July 30, 2013. /s/ Tracy Hansen City Recorder Pub.: August 2, 9, 2013. 528293
NOTICE OF PUBLIC HEARING AND BONDS TO BE ISSUED NOTICE IS HEREBY GIVEN pursuant to the provisions of the Local Government Bonding Act, Title 11, Chapter 14, Utah Code Annotated 1953, as amended, that on July 30, 2013, the City Council (the "Council ") of Ogden City, Utah (the "Issuer "), adopted a resolution (the "Resolution ") in which it authorized the issuance of the Issuer 's Storm Drain Revenue Bonds, Series 2013 (the "Series 2013 Bonds ") (to be issued in one or more series and with such other series or title designation(s) as may be determined by the Issuer) and called a public hearing. PURPOSE, TIME, PLACE AND LOCATION OF PUBLIC HEARING The Issuer shall hold a public hearing on August 20, 2013, at the hour of 6:00 p.m. at 2549 Washington Blvd., Ogden, Utah. The purpose of the hearing is to receive input from the public with respect to (a) the issuance of the Series 2013 Bonds and (b) any potential economic impact that the project to be financed with the proceeds of the Series 2013 Bonds may have on the private sector. All members of the public are invited to attend and participate. PURPOSE FOR ISSUING THE SERIES 2013 BONDS The Series 2013 Bonds will be issued for the purpose of (a) financing improvements to the Issuer 's storm drain system (the "System "), including but not limited to the construction and installation of new or upgraded storm water collection lines, storm water detention or retention ponds, storm water pretreatment facilities and related improvements throughout the Issuer but with a primary emphasis on projects required to alleviate storm water collection and conveyance needs associated with Harrison Boulevard, (b) funding any required debt service reserve fund, and (c) paying costs of issuance of the Series 2013 Bonds. REVENUES TO BE PLEDGED The Series 2013 Bonds are special limited obligations of the Issuer payable from the net revenues of the System. PARAMETERS OF THE SERIES 2013 BONDS The Issuer intends to issue the Series 2013 Bonds in the aggregate principal amount of not more than Five Million Five Hundred Thousand Dollars ($5,500,000), to mature in not more than twenty-five (25) years from their date or dates, to be sold at a price not less than ninety-seven percent (97%) of the total principal amount thereof, and bearing interest at a rate or rates not to exceed six percent (6.0%) per annum. The Series 2013 Bonds are to be issued and sold by the Issuer pursuant to the Resolution, including as part of said Resolution, a General Indenture of Trust and a Supplemental Indenture of Trust (collectively "Indenture ") which Indenture was before the Council in substantially final form at the time of the adoption of the Resolution and said Indenture is to be executed by the Council in such form and with such changes thereto as shall be approved by the Mayor or Mayor pro tem; provided that the principal amount, interest rate or rates, maturity, and discount of the Series 2013 Bonds will not exceed the maximums set forth above. OUTSTANDING BONDS SECURED BY REVENUES Other than the proposed Series 2013 Bonds, the Issuer currently has $1,860,000 principal amount of bonds outstanding secured by the net revenues of the System. OTHER OUTSTANDING BONDS OF THE ISSUER Information regarding all of the Issuer 's outstanding bonds may be found in the Issuer 's audited financial report (the "Financial Report ") at: http://www.ogdencity.com/en/government/city_budget.aspx. For additional information more recent than as of the date of the Financial Report please contact Mike Goodwin, City Treasurer (phone: 801-629-8761). TOTAL ESTIMATED COST Based on an estimate of the current interest rate and financing plan, the estimated total debt service cost of the Series 2013 Bonds, if held until maturity is $6,860,000. A copy of the Resolution and the Indenture are on file in the office of the Ogden City Recorder, 2549 Washington Blvd., Ogden, 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 date of publication of this notice. NOTICE IS FURTHER GIVEN that a period of thirty (30) days from and after the date of the publication of this notice is provided by law during which any person in interest shall have the right to contest the legality of the Resolution, the Indenture, or the Series 2013 Bonds, or any provision made for the security and payment of the Series 2013 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 July 30, 2013. /s/ Tracy Hansen City Recorder Pub.: August 2, 9, 2013. 528293