General Information

Government Type

Municipality

Entity

Wellsville

Public Body

City Council

Notice Information

Add Notice to Calendar

Notice Title

NOTICE OF BONDS TO BE ISSUED

Notice Tags

Bonds

Notice Type(s)

Notice

Event Start Date & Time

November 7, 2012 09:00 AM

Event End Date & Time

November 7, 2012 09:00 AM

Description/Agenda

NOTICE OF BONDS TO BE ISSUED WELLSVILLE CITY, CACHE COUNTY, UTAH 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 November 7, 2012, the City Council (the “Council”) of Wellsville City, Cache County, Utah (the “Issuer”) adopted a resolution (the “Resolution”) in which it authorized the issuance of the Issuer's Water Revenue Refunding Bonds (the “Bonds”) in the aggregate principal amount of not to exceed $870,000, to bear interest at the rate or rates not to exceed 2.0% per annum, to mature in not more than seventeen (17) years from their date or dates, and to be sold at a price not less than 98% of the total principal amount thereof. As Water Revenue Refunding Bonds, no property taxes will be pledged for the Bonds, only water revenues will be pledged. The Bonds, pursuant to the Resolution and a Final Bond Resolution to be adopted authorizing and confirming the sale of the Bonds for the purpose of (1) saving money by refunding all of the Issuer’s outstanding Water Revenue Bonds consisting of its (A) Water Revenue Bonds, Series 2004 bearing interest at 2.45% per annum in the original principal amount of $500,000 and sold to the Utah Drinking Water Board (the “Series 2004 Bonds”); (B) Water Revenue Bonds, Series 2010A bearing no interest in the original principal amount of $70,000 and sold to the Utah Board of Water Resources (the “Series 2010A Bonds”); and (C) Water Revenue Bonds, Series 2010B in the original principal amount of $560,000 and sold to Bank of Utah (the “Series 2010B Bonds” and collectively with the Series 2004 Bonds and Series 2010A Bonds, the “Refunded Bonds”), and (2) paying issuance expenses to be incurred in connection with the issuance and sale of the Bonds. The Bonds are to be issued and sold by the Issuer pursuant to the Resolution, including as part of said Resolution the draft of a Final Bond Resolution which was before the Council and attached to the Resolution in substantially final form at the time of the adoption of the Resolution (collectively, the “Bond Resolutions”) and said Final Bond Resolution is to be adopted by the Council in such form and with such changes thereto as shall be approved by the Council upon the adoption thereof; provided that the principal amount, interest rate or rates, maturity, and discount of the Bonds will not exceed the maximums set forth above. A copy of the Bond Resolutions are on file in the office of the City Manager/Recorder of the Issuer in the Issuer’s offices in Wellsville, Utah, where they may be examined during regular business hours of the City Manager/Recorder from 9:00 a.m. to 4:30 p.m. Monday through Thursday 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 Bond Resolutions or the Bonds, or any provision made for the security and payment of the Bonds by filing a verified written complain in the district court of their county of residence, 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 November 7, 2012. /s/ Don Hartle City Manager/Recorder

Notice of Special Accommodations (ADA)

NA

Notice of Electronic or Telephone Participation

NA

Meeting Information

Meeting Location

75 East Main
Wellsville, 84339
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Contact Name

Laurie Christensen

Contact Email

wellsvillecourt@comcast.net

Contact Phone

(435)245-3686

Notice Posting Details

Notice Posted On

November 14, 2012 10:43 AM

Notice Last Edited On

November 14, 2012 10:43 AM

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