General Information

Government Type

Municipality

Entity

Herriman

Public Body

City Council

Notice Information

Add Notice to Calendar

Notice Title

Public Notice

Notice Subject(s)

Bonds

Notice Type(s)

Notice

Event Start Date & Time

January 14, 2016 04:00 PM

Event End Date & Time

January 30, 2016 05:30 PM

Description/Agenda

NOTICE OF BONDS TO BE ISSUED NOTICE IS HEREBY GIVEN pursuant to the provisions of the Utah Refunding Bond Act, Title 11, Chapter 27, Utah Code Annotated 1953, as amended (the 'Act'), that on January 13, 2016, the City Council (the 'Council') of Herriman City, Utah (the 'Issuer'), adopted a resolution (the 'Resolution') in which it authorized the issuance of the Revenue Refunding Bonds, Series 2016 (the 'Series 2016 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). PURPOSE FOR ISSUING THE SERIES 2016 BONDS The Series 2016 Bonds will be issued for the purpose of (a) refunding all or a portion certain outstanding water revenue bonds of the Issuer, (b) funding any required debt service reserve fund, and (c) paying costs of issuance of the Series 2016 Bonds. PARAMETERS OF THE SERIES 2016 BONDS The Issuer intends to issue its Water Revenue Refunding Bonds, Series 2016, in the aggregate principal amount of not more than Nine Million One Hundred Thousand Dollars ($9,100,000), to mature in not more than eighteen (18) 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 a rate of five percent (5.0%) per annum. The Series 2016 Bonds are to be issued and sold by the Issuer pursuant to the Resolution and a General Indenture of Trust, as supplemented by a Supplemental Indenture of Trust (collectively, the 'Indenture') which was before the Council and attached to the Resolution at the time of the adoption of the Resolution and said Indenture shall contain such terms and provisions as shall be approved by the Issuer at the time of adoption of a Final Bond Resolution. REVENUES PROPOSED TO BE PLEDGED The Series 2016 Bonds are special limited obligations of the Issuer payable from the net revenues of the Issuer's water system. A copy of the Resolution and the Indenture are on file in the office of the Herriman City Recorder, 13011 South Pioneer Road, Herriman, Utah, where they may be examined during regular business hours of the City Recorder from 7:30 a.m. to 5:30 p.m., Monday through Friday, 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 (but only as it relates to the Series 2016 Bonds), or the Series 2016 Bonds, or any provision made for the security and payment of the Series 2016 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 January 13, 2016. /s/Jackie Nostrom City Recorder

Notice of Special Accommodations (ADA)

In accordance with the Americans with Disabilities Act, Herriman City will make reasonable accommodation for participation in the meeting. Request assistance by contacting Herriman City at (801) 446-5323, providing at least 48 hours advance notice of the meeting.

Notice of Electronic or Telephone Participation

Electronic or Telephonic Participation may be used if needed from time to time. Public notice will be provided pursuant to UCA 52-4-207

Meeting Information

Meeting Location

13011 S Pioneer Street
6000 West
Herriman, 84096
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Contact Name

Jackie Nostrom

Contact Email

jnostrom@herriman.org

Contact Phone

(801)446-5323

Notice Posting Details

Notice Posted On

January 14, 2016 04:12 PM

Notice Last Edited On

January 14, 2016 04:12 PM

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