General Information

Government Type

Municipality

Entity

Salina

Public Body

City Council

Notice Information

Add Notice to Calendar

Notice Title

3/27/13 PUBLIC HEARING

Notice Tags

Bonds

Notice Type(s)

Notice, Hearing, Bond

Event Start Date & Time

March 27, 2013 07:00 PM

Description/Agenda

NOTICE OF PUBLIC HEARING AND BONDS TO BE ISSUED PUBLIC NOTICE IS HEREBY GIVEN that on February 27, 2013, the Mayor and City Council of Salina City (the "Issuer"), adopted a resolution (the “Resolution”) declaring its intention to issue its Secondary Water System Revenue Bonds (the “Bonds”), pursuant to the Utah Local Government Bonding Act, Title 11, Chapter 14, Utah Code Annotated 1953, as amended and to call a public hearing to receive input from the public with respect to the issuance of the Bonds. TIME, PLACE AND LOCATION OF PUBLIC HEARING The Issuer shall hold a public hearing on March 27, 2013, at the hour of 7:00 p.m. The location of the public hearing is in the City Office, 90 West Main, Salina, Utah. The purpose of the meeting is to receive input from the public with respect to the issuance of the Bonds and any potential economic impact to the private sector from the construction of the Project to be funded by the Bonds. All members of the public are invited to attend and participate. PURPOSE FOR ISSUING BONDS The Issuer intends to issue the Bonds for the purpose of (i) financing all or a portion of the cost to construct secondary water system improvements, together with all related work and improvements thereof; and (ii) paying costs of issuing the Bonds. PARAMETERS OF THE BONDS The Issuer intends to issue the Bonds in the principal amount of not to exceed $250,000 to bear interest at a rate not to exceed 4.5% per annum, to mature in not to more than 12 years from their date or dates, and to be sold at a price not less than 98% of the total principal amount thereof, plus accrued interest to the date of delivery. The Bonds will specify that any installment of principal on the Bonds which shall not be paid when due shall bear interest at the rate of 18% per annum from the due date thereof until paid. NOTICE IS FURTHER GIVEN that a period of 30 days from and after the last date of 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 or the Bonds, or any provision 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 whatsoever. A copy of the Resolution is on file in the office of the City Recorder in Salina, Utah, where it may be examined during regular business hours of the City Recorder from 8:00 a.m. to 5:00 p.m. Monday through Thursday. DATED this 27th day of February, 2013. /s/ Sherri Westbrook City Recorder [Publish once each week for two consecutive weeks.]

Notice of Special Accommodations (ADA)

THE PUBLIC IS INVITED TO PARTICIPATE IN ALL CITY COUNCIL MEETINGS. If you need a special accommodation to participate in the City Council Meetings, please notify Sherri Westbrook, City Recorder, (435) 529-7304, at least 24 hours prior to the meeting.

Notice of Electronic or Telephone Participation

NA

Meeting Information

Meeting Location

90 W Main
Salina, 84654
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Contact Name

Ashlee Larsen

Contact Email

ashlee@salinacity.org

Notice Posting Details

Notice Posted On

March 04, 2013 07:39 AM

Notice Last Edited On

March 04, 2013 07:44 AM

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