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 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 Issuer's Federally Taxable/Convertible to Tax-Exempt Special Assessment Refunding Bonds (Towne Center Assessment Area), 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).
The Series 2016 Bonds will be issued for the purpose of (a) refunding its outstanding Special Assessment Bonds (Towne Center Assessment Area), Series 2010 (the 'Refunded Bonds'), (b) funding a debt service reserve fund, if necessary, and (c) paying costs of issuance of the Series 2016 Bonds.
The Issuer intends to issue its Series 2016 Bonds, in the aggregate principal amount of not more than Fifteen Million Dollars ($15,000,000), to mature in not more than fourteen (14) 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-quarter percent (5.25%) 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, an Indenture of Trust and Pledge (the 'Indenture') which was before the Council and attached to the Resolution in substantially final form at the time of the adoption of the Resolution and said Indenture is to be executed by the Council in such form and with such changes thereto as shall be approved by the Designated Officer; provided that the principal amount, interest rate or rates, maturity, and discount of the Series 2016 Bonds will not exceed the maximums set forth above.
A copy of the Resolution and the Indenture are on file in the office of the Herriman City Recorder, 13011 South Pioneer Street, 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.
DATED this July 13, 2016.
/s/ Jackie Nostrom
City Recorder
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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
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