General Information

Government Type

County

Entity

Weber County

Public Body

Weber County Commission

Notice Information

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Notice Title

Notice-

Notice Subject(s)

Sales and Use Tax

Notice Type(s)

Bond

Event Start Date & Time

July 12, 2016 11:00 AM

Event End Date & Time

August 12, 2016 11:00 AM

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, that on July 12, 2016, the Board of County Commissioners (the 'Commission') of Weber County, Utah (the 'Issuer'), adopted a resolution (the 'Resolution') in which it authorized the issuance of the Issuer's Sales Tax Revenue Bonds, Series 2016 (with any other series or title designation determined by the Issuer, the 'Series 2016 Bonds') and called a public hearing to receive input from the public. PURPOSE, TIME, PLACE AND LOCATION OF PUBLIC HEARING The Issuer shall hold a public hearing on August 9, 2016, at the hour of 10:00 a.m. at 2380 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 2016 Bonds and (b) any potential economic impact that the Project to be financed with the proceeds of the Series 2016 Bonds 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) financing the costs of (i) construction of road and related improvements to 12th Street (including Sewer lines) and 3500 West Street and (ii) purchasing a portion of the Bayview landfill in Utah County, Utah for use by the Issuer (collectively, the 'Project'), (b) funding any required deposit to a 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 is Sales Tax Revenue Bonds, Series 2016 in the aggregate principal amount of not more than Ten Million One Hundred and Fifty Thousand Dollars ($10,150,000), to mature in not more than twenty-one (21) years from their date or dates, to be sold at a price not less than ninety-eight percent (98%) 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 and a Supplemental Indenture of Trust (collectively, the 'Indenture'), which Indenture was before the Commission in substantially final form at the time of the adoption of the Resolution. EXCISE TAXES PROPOSED TO BE PLEDGED The Issuer proposes to pledge 100% of the Local Sales and Use Tax and County Option Sales and Use Tax received by the Issuer pursuant to Title 59, Chapter 12, Parts 2 and 11 of Utah Code Annotated 1953, as amended, to the payment of the Series 2016 Bonds (the 'Pledged Taxes'). OUTSTANDING BONDS SECURED BY PLEDGED TAXES Other than the proposed Series 2016 Bonds, the Issuer currently has $11,865,000 of bonds outstanding secured by the Pledged Taxes. OTHER OUTSTANDING BONDS OF THE ISSUER Additional information regarding the Issuer's outstanding bonds may be found in the Issuer's financial report (the 'Financial Report') at: http://auditor.utah.gov/accountability/financial-reports-of-local-governments. For additional information, including any information more recent than as of the date of the Financial Report, please contact the office of the County Clerk/Auditor, at (801) 399-8400. TOTAL ESTIMATED COST 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, if held until maturity, is approximately $11,751,760. A copy of the Resolution and the Indenture are on file in the office of the County Clerk/Auditor, 2380 Washington Blvd., Ogden, Utah, where they may be examined during regular business hours of the County Clerk/Auditor from 8:00 a.m. to 5:00 p.m., Monday through Friday, for a period of at least thirty (30) days from and after the last 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 (i) any person in interest shall have the right to contest the legality of the Resolution, the Indenture (only as it pertains 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 and (ii) registered voters within Weber County, Utah may sign a written petition requesting an election to authorize the issuance of the Series 2016 Bonds. If written petitions which have been signed by at least 20% of the registered voters of Weber County, Utah are filed with the Issuer during said 30-day period, the Issuer shall be required to hold an election to obtain voter authorization prior to the issuance of the Series 2016 Bonds. If fewer than 20% of the registered voters of Weber County, Utah file a written petition during said 30-day period, the Issuer may proceed to issue the Series 2016 Bonds without an election. DATED this July 12, 2016. /s/ Ricky Hatch County Clerk/Auditor

Notice of Special Accommodations (ADA)

In compliance with the Americans with Disabilities Act, persons needing auxiliary services for these meetings should call the Weber County Commission Office at 399-8406 at least 24 hours prior to the meeting.

Notice of Electronic or Telephone Participation

N/A

Meeting Information

Meeting Location

2380 Washington Blvd.
Ogden, 84401
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Contact Name

Shelly Halacy

Contact Email

shalacy@co.weber.ut.us

Contact Phone

8013998406

Notice Posting Details

Notice Posted On

July 12, 2016 03:56 PM

Notice Last Edited On

July 12, 2016 03:56 PM

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