General Information

Government Type

Municipality

Entity

Pleasant Grove

Public Body

City Council

Notice Information

Add Notice to Calendar

Notice Title

Notice of Bonds to be Issued

Notice Subject(s)

Bonds

Notice Type(s)

Notice

Event Start Date & Time

March 16, 2016 12:00 AM

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, that on March 15, 2016, Pleasant Grove City, Utah (the 'Issuer'), adopted a resolution (the 'Resolution') in which it authorized the issuance of the Issuer's Water Revenue Refunding Bonds, Series 2016 (to be issued in one or more series or with such other series or title designation as may be determined by the Issuer) (the 'Series 2016 Bonds') in the aggregate principal amount of not more than Nine Million Five Hundred Thousand Dollars ($9,500,000), to mature in not more than nineteen (19) 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 to bear interest at rate or rates of not to exceed six percent (6.00%) per annum. The Series 2016 Bonds will be issued for the purpose of (a) refunding certain outstanding water revenue bonds of the Issuer, (b) funding a debt service reserve fund, as necessary, and (c) paying costs of issuance of the Series 2016 Bonds. The Series 2016 Bonds are to be issued and sold by the Issuer pursuant to the Resolution, including as part of said Resolution, a form of a General Indenture of Trust, and a Supplemental Indenture of Trust (collectively, the 'Indenture'), which were before the Council and attached to the Resolution in substantially final form at the time of adoption of the Resolution. The Series 2016 Bonds are special limited obligations of the Issuer payable from certain of 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 City Recorder, 70 South 100 East, Pleasant Grove City, Utah, where they may be examined during regular business hours of the City Recorder from 8:30 a.m. to 5:00 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 March 15, 2016 /s/ Kathy Kresser City Recorder

Notice of Special Accommodations (ADA)

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

Meeting Information

Meeting Location

70 South 100 East
Pleasant Grove, 84062
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Contact Name

Wendy Thorpe

Contact Email

wthorpe@pgcity.org

Notice Posting Details

Notice Posted On

March 16, 2016 10:00 AM

Notice Last Edited On

March 16, 2016 10:00 AM

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