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Pleasant Grove:
City Council

Entity: Pleasant Grove

Public Body: City Council

Subject: Bonds

Notice Title: Notice of Public Hearing for Bond Election

Notice Type: Notice, Hearing

Notice Date & Time: September 16, 2014 | 6:00 PM - 9:00 PM

Description/Agenda:

NOTICE OF PUBLIC HEARING

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 August 19, 2014, the City Council (the “Council”) of Pleasant Grove City, Utah (the “City”), adopted a resolution (the “Resolution”) in which it authorized the calling of an election (the “Election”) concerning a proposition for the issuance of the City’s General Obligation Bonds (the “Bonds”) and called a public hearing to receive input from the public with respect to (a) the issuance of the Bonds and (b) any potential economic impact that the improvements, facilities or properties financed in whole or in part with the proceeds of the Bonds (see below) may have on the private sector.  
TIME, PLACE, AND LOCATION OF PUBLIC HEARING

The Council shall hold a public hearing on Tuesday, September 16, 2014, at the hour of 6:00 p.m. in the City Council Chambers, located at 86 E. 100 So., Pleasant Grove, Utah.  The purpose of the hearing is to receive input from the public with respect to (a) the issuance of the Bonds and (b) any potential economic impact that the improvements, facilities, or properties financed in whole or in part with the proceeds of the Bonds may have on the private sector.  All members of the public are invited to attend and participate.
PURPOSE FOR ISSUING THE BONDS, MAXIMUM AMOUNT AND SECURITY

The Bonds are to be issued in the aggregate principal amount of not to exceed $12,670,000 for the purpose of financing all or a portion of the costs of constructing and furnishing a new fire station, police station and justice court facility and all related improvements (the “Project”), and paying costs of issuance of the Bonds.  The Bonds shall be secured by ad valorem property taxes of the City to the extent authorized by law.
The Bonds may be issued in one or more series and be sold from time to time, all as the Council may determine.
DATED this August 20, 2014.


/s/  	Kathy Kresser	
City Recorder

Notice of Special Accommodations:

NOTE: If you are planning to attend this public meeting and, due to a disability, need assistance in understanding or participating in the meeting, please notify the City Recorder, 801-785-5045, forty-eight in advance of the meeting and we will try to provide whatever assistance may be required.

Notice of Electronic or telephone participation:

NA

Other information:

This notice was posted on: August 20, 2014 05:42 PM
This notice was last edited on: August 20, 2014 05:42 PM

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