Notice of Public Hearing For the Issuance of Bonds
Notice Type(s)
Notice,
Bond
Event Start Date & Time
March 12, 2026 11:29 AM
Event End Date & Time
April 14, 2026 05:00 PM
Event Deadline Date & Time
04/14/26 05:00 PM
Description/Agenda
NOTICE OF BONDS TO BE ISSUED
NOTICE IS HEREBY GIVEN pursuant to the provisions of Sections 11-14-316 of the Utah Code Annotated 1953, as amended, that on March 10, 2026, the Board of Trustees of Hooper Water Improvement District, Utah (the 'Issuer'), adopted a resolution (the 'Resolution') in which it authorized and approved the issuance of the Issuer's water revenue bonds in one or more series (the 'Bonds') in an aggregate principal amount of not to exceed $12,000,000, to mature in not more than 32 years from their date or dates, to bear interest at a rate or rates not to exceed 2.00% per annum, and to be sold at a discount from par of not to exceed 2.00%.
The Bonds are to be issued and sold by the Issuer pursuant to (1) the Resolution, (2) a General Indenture of Trust (the 'General Indenture'), and (3) a Supplemental Indenture (the 'Supplemental Indenture'), supplementing the General Indenture.
The Bonds are to be issued for the purpose of (1) financing a portion of the costs of improvements to the Issuer's water system (the 'System'), including equipping a well, installing chlorination and sand filtration, and constructing a building for the well and a storage tank (collectively, the 'Project') and (2) paying the costs incurred in connection with the issuance and sale of the Bonds, all as set forth in the Resolution, the General Indenture and the Supplemental Indenture.
The Bonds will be payable from and secured by the revenues of the System (the 'Revenues') and certain other funds, as more particularly described in the General Indenture. The Issuer currently does not have any bonds outstanding that are secured by the Revenues. The estimated total cost to the Issuer for the proposed Bonds, if the Bonds are held until maturity and based on estimated interest rates currently in effect, is $16,513,000.
A copy of the Resolution (including drafts of the General Indenture and Supplemental Indenture) is on file in the office of the Issuer, located at 5555 West 5500 South, in Hooper, Utah, where it may be examined during regular business hours of the Issuer from 7:00 A.M. to 4:30 P.M. Monday through Thursday and Friday 7:00 A.M. to 11:00 A.M. Said Resolution (including drafts of the General Indenture and Supplemental Indenture) will be so available for inspection for a period of at least thirty (30) days from and after the date of the publication of this notice.
NOTICE IS FURTHER GIVEN that pursuant to law for a period of thirty days from and after the date of the publication of this notice, any person in interest shall have the right to contest the legality of the above-described Resolution (including the General Indenture and the Supplemental Indenture) of the Board of Trustees of Hooper Water Improvement District, Utah, or the Bonds or any provisions made for the security and payment of the 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.
DATED March 10, 2026.
HOOPER WATER IMPROVEMENT DISTRICT, UTAH
Notice of Special Accommodations (ADA)
If, due to a disability, you need assistance in participating or understanding this meeting, please call our office at 985-1991 at least twenty-four hours in advance of the meeting.