General Information

Government Type

Municipality

Entity

Garland

Public Body

City Council

Notice Information

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Notice Title

Public Notice

Notice Tags

Bonds

Notice Type(s)

Notice, Bond

Event Start Date & Time

October 9, 2015 12:00 AM

Event End Date & Time

November 8, 2015 12:00 AM

Description/Agenda

NOTICE OF BOND ANTICIPATION NOTES TO BE ISSUED GARLAND CITY, UTAH NOTICE IS HEREBY GIVEN pursuant to the provisions of the Utah Local Government Bonding Act, Title 11, Chapter 14, Utah Code Annotated 1953, as amended, that on October 7, 2015, the City Council (the 'Council') of Garland City, Utah (the 'Issuer'), in public proceedings declared its intention to issue Bond Anticipation Notes (the 'Notes') in an aggregate principal amount not to exceed $4,672,000, to bear interest at a rate or rates not to exceed 2.5% per annum, to mature within (4) years, and to be sold at a price not less than ninety-eight percent (98%) of the total principal amount thereof. The Issuer anticipates issuing and has obtained authorization from the United States Department of Agriculture, Rural Utilities Service to purchase its Sewer Revenue Bonds in the amount of $4,672,000. The Notes are to be issued in anticipation of these sewer revenue bonds and it is expected that the Notes will be repaid when such bonds are issued. Sewer revenues of the Issuer will be pledged to secure the Notes as well as the proposed Sewer Revenue Bonds. No taxes will be pledged. The estimated total cost to the Issuer for the proposed Notes if the Notes are held until maturity is approximately $4,914,355. Presently, the Issuer has no outstanding obligations secured by a pledge of sewer revenues. The Notes will be issued pursuant to a Final Note Resolution to be adopted authorizing and confirming the sale of the Notes (the 'Final Note Resolution') for the purposes of (i) financing the costs of constructing sewer system improvements and related improvements and (ii) paying the costs of issuing the Notes. Copies of the minutes of the Governing Body of its public proceedings declaring its intention to issue the Notes and of the Final Note Resolution are on file in the office of the City Recorder of the Issuer in Garland, Utah, where they may be examined during regular business hours, i.e., between 9:00 a.m. and 5:00 p.m. Monday through Friday for at least thirty (30) days from and after the date of publication of this notice. NOTICE IS FURTHER GIVEN that, for a period of thirty (30) 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 public proceedings, of the Final Note Resolution, or the Notes, or any provision made for the security and payment of the Notes by filing a verified written complaint in the district court of their county of residence, and that after such 30-day period, other than referendum rights, no one shall have any cause of action to contest the regularity, formality or legality thereof for any reason. DATED October 7, 2015. /s/ Sharlet Anderson City Recorder

Notice of Special Accommodations (ADA)

NOTICE OF SPECIAL ACCOMMODATION DURING PUBLIC MEETINGS In compliance with the Americans with Disabilities Act, individuals needing special accommodations (including auxiliary communicative aids and services) during this meeting should notify Sharlet Anderson at 435-257-3118.

Notice of Electronic or Telephone Participation

NA

Meeting Information

Meeting Location

72 North Main St
Garland, 84312
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Contact Name

Whitney Eggleston

Contact Email

whitney@garlandutah.gov

Contact Phone

4352573118

Notice Posting Details

Notice Posted On

October 09, 2015 04:23 PM

Notice Last Edited On

October 09, 2015 04:23 PM

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