General Information

Government Type

Municipality

Entity

Ogden

Public Body

City Council, Redevelopment Agency, Municipal Building Authority

Notice Information

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Notice Title

Public Hearing Notice

Notice Subject(s)

Other

Notice Type(s)

Notice, Hearing

Event Start Date & Time

June 7, 2016 06:00 PM

Description/Agenda

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 (the 'Bond Act'), and the Utah Refunding Bond Act, Title 11, Chapter 27, Utah Code Annotated 1953, as amended (the 'Refunding Bond Act' and collectively with the Bond Act, the 'Act'), that on May 17, 2016, 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 Water and Sewer Revenue and 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) and called a public hearing to receive input from the public with respect to (a) the issuance of that portion of the Series 2016 Bonds issued under the Bond Act and (b) any potential economic impact that the Project described herein to be financed with the proceeds of the Series 2016 Bonds issued under the Bond Act may have on the private sector. PURPOSE, TIME, PLACE AND LOCATION OF PUBLIC HEARING The Issuer shall hold a public hearing on June 7, 2016, 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 that portion of the Series 2016 Bonds issued under the Bond Act and (b) any potential economic impact that the Project to be financed with the proceeds of that portion of the Series 2016 Bonds issued under the Bond Act may have on the private sector. All members of the public are invited to attend and participate. PURPOSE FOR ISSUING THE SERIES 2016 BONDS The Series 2016 Bonds will be issued for the purpose of (a) in the case of the portion of the Series 2016 Bonds issued under the Bond Act financing improvements to the Issuer's water and sewer system (the 'System'), including but not limited to replacement of distribution pipes, fire flow and intake improvements, acquisition of a pump station and a well field, and other related projects (collectively, the 'Project'), (b) in the case of the portion of the Series 2016 Bonds issued under the Refunding Bond Act, refunding a portion of the Issuer's outstanding sewer and water revenue bonds (the 'Refunded Bonds') in order to achieve a debt service savings, (c) funding any required debt service reserve fund, and (d) paying costs of issuance of the Series 2016 Bonds. REVENUES TO BE PLEDGED The Series 2016 Bonds are special limited obligations of the Issuer payable from the net revenues of the System. PARAMETERS OF THE SERIES 2016 BONDS The Issuer intends to issue the Series 2016 Bonds in the aggregate principal amount of not more than Sixty-Four Million Dollars ($64,000,000), with not to exceed $17,500,000 issued under the Bond Act and not to exceed $46,500,000 issued under the Refunding Bond Act, to mature in not more than thirty (30) 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 five and one-half percent (5.5%) per annum. The Series 2016 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 dated as of December 1, 1994, as heretofore amended and supplemented (the 'General Indenture') and a Supplemental Indenture of Trust (the 'Supplemental Indenture' and collectively with the General Indenture, the 'Indenture'). OUTSTANDING BONDS SECURED BY REVENUES Other than the proposed Series 2016 Bonds, the Issuer currently has $61,173,000 principal amount of bonds outstanding secured by the net revenues of the System (including the bonds to be refunded). 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 the City Treasurer (phone: 801-629-8761). TOTAL ESTIMATED COST OF BONDS ISSUED UNDER THE BOND ACT Based on the Issuer's current plan of finance and a current estimate of interest rates, the total principal and interest cost of the Series 2016 Bonds to be issued under the Bond Act to finance the Project, if held until maturity, is approximately $32,390,000. 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 (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 May 17, 2016. /s/ Tracy Hansen City Recorder

Notice of Special Accommodations (ADA)

In compliance with the Americans with Disabilities Act, persons needing auxiliary communicative aids and services for these meetings should contact the Management Services Department at 629-8701 (TDD# 629-8949) or by email: ADACompliance@ci.ogden.ut.us at least 48 hours in advance of the meeting.

Notice of Electronic or Telephone Participation

NA

Meeting Information

Meeting Location

2549 Washington Blvd
Ogden, 84401
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Contact Name

OgdenCity Recorder

Contact Email

recorders@ogdencity.com

Contact Phone

(801)629-8150

Notice Posting Details

Notice Posted On

May 20, 2016 04:25 PM

Notice Last Edited On

May 20, 2016 04:25 PM

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