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Midvale City Water and Sewer Revenue Refunding Bonds 2016

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General Information

Government Type
Municipality
Entity
Midvale
Public Body
City Council

Notice Information

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Notice Title
Midvale City Water and Sewer Revenue Refunding Bonds 2016
Notice Subject(s)
Bonds
Notice Type(s)
Bond
Event Start Date & Time
July 12, 2016 07:00 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, that on July 12, 2016, the City Council (the 'Council') of Midvale City, Utah (the 'Issuer'), adopted a resolution (the 'Resolution') in which it authorized the issuance of the Issuer's Water, Sewer and Storm Water Revenue Refunding Bonds, Series 2016 (the 'Series 2016 Bonds') in the aggregate principal amount of not more than Five Million Three Hundred Thousand Dollars ($5,300,000), 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 five percent (5.0%) per annum, plus accrued interest to the date of delivery. No deposit is currently contemplated in connection with the sale of the Bonds. The Series 2016 Bonds will be issued for the purpose of (a) refinancing all or a portion of certain outstanding water and sewer revenue bonds of the Issuer, (b) funding a debt service reserve fund, if 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 General Indenture of Trust and a Supplemental Indenture of Trust (collectively, the 'Indenture'), which were before the Council at the time the Resolution was adopted. The Series 2016 Bonds are special limited obligations of the Issuer payable from the net revenues of the Issuer's water, sewer and storm water systems. A copy of the Resolution and the Indenture are on file in the office of the City Recorder, 7505 South Holden Street, Midvale, Utah, where they may be examined during regular business hours of the City Recorder from 8:00 a.m. to 6:00 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 (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 July 12, 2016.
Notice of Special Accommodations (ADA)
In accordance with the Americans with Disabilities Act, Midvale City will make reasonable accommodations for participation in the meeting. Request assistance by contacting the City Recorder at 801-567-7207, providing at least three working days advance notice of the meeting.
Notice of Electronic or Telephone Participation
Council Members may participate in the meeting via telephonic communication. If a Council Member does participate via telephonic communication, the Councilmember will be on speakerphone. The speakerphone will be amplified so that the other Council Members and all other persons present in the Council Chambers will be able to hear all discussions.

Meeting Information

Meeting Location
7505 S Holden Street
Midvale, 84047
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Contact Name
Rori L. Andreason
Contact Email
randreason@midvale.com
Contact Phone
(801)567-7207

Notice Posting Details

Notice Posted On
July 13, 2016 03:51 PM
Notice Last Edited On
July 13, 2016 03:51 PM

Download Attachments

File Name Category Date Added
Midvale City Water and Sewer Revenue Refunding Bonds 2016 - Notice for paper.pdf Public Information Handout 2016/07/13 03:51 PM


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