General Information

Government Type

Municipality

Entity

Nibley

Public Body

Municipal Building Authority of Nibley, Utah

Notice Information

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Notice Title

Notice

Notice Tags

Bonds

Notice Type(s)

Event Start Date & Time

November 4, 2010 06:00 PM

Event End Date & Time

November 4, 2010 06:01 PM

Description/Agenda

NOTICE OF PUBLIC HEARING AND BONDS TO BE ISSUED MUNICIPAL BUILDING AUTHORITY OF NIBLEY CITY, UTAH NOTICE IS HEREBY GIVEN pursuant to the provisions of the Utah Local Building Authority Act, Title 17D, Chapter 2, Utah Code Annotated 1953, as amended, that on October 7, 2010, the Authority Board (the “Authority Board”) of the Municipal Building Authority of Nibley City, Utah (the “Issuer”), adopted a resolution (the “Resolution”) in which it authorized the issuance and sale of the Issuer's Lease Revenue Bonds, Series 2010 (the “Series 2010 Bonds”) in an aggregate principal amount not to exceed Eight Hundred Fifty Thousand Dollars ($850,000); the Series 2010 Bonds to bear interest at a rate or rates not to exceed four percent (4.0%) per annum, to mature in not more than thirty-five (35) years from their date or dates, and to be sold at a price not less than 99% percent of the total principal amount thereof, plus accrued interest to the date of delivery. NOTICE IS FURTHER GIVEN that the Issuer called a public hearing for the purpose of inviting public comment on the proposed issuance of the Series 2010 Bonds and the economic impact that the improvements proposed to be financed with the Series 2010 Bonds will have on the private sector. The public hearing will be held on November 4, 2010, at 6:00 p.m. or as soon thereafter as feasible, at the current City Hall located at 625 West 3200 South in Nibley, Utah. The Series 2010 Bonds will be issued pursuant to the Resolution, a Bond Authorizing Resolution and a Master Resolution to be adopted authorizing and confirming the sale of the Series 2010 Bonds (collectively, the “Final Bond Resolutions”) for the purposes of (i) financing the design and construction of a new City Hall in Nibley City, and related improvements and (ii) paying the costs of issuing the Series 2010 Bonds. As lease revenue bonds, no property taxes will be pledged for repayment of the Series 2010 Bonds. Drafts of the Final Bond Resolutions in substantially final form were before the Authority Board and were part of the Resolution at the time of its adoption by the Authority Board (collectively, the “Bond Resolutions”). The Final Bond Resolutions are to be adopted by the Authority Board in such form and with such changes thereto as shall be approved by the Authority Board upon the adoption thereof, provided that the principal amount, interest rate or rates, maturity and discount of the Series 2010 Bonds will not exceed the maximums set forth above. Copies of the Final Bond Resolutions are on file in the office of the Secretary of the Issuer where they may be examined during regular business hours of the Issuer which are 9:00 a.m. to 5:00 p.m. Monday through Friday for at least thirty (30) days from and after the last date of publication of this notice. NOTICE IS HEREBY GIVEN that a period of thirty (30) days from and after the last date of the publication of this notice is provided by law during which (i) any person in interest shall have the right to contest the legality of the Resolution, the Final Bond Resolutions, or the Series 2010 Bonds, or any provision made for the security and payment of the Series 2010 Bonds by filing a verified written complaint in the district court of the county in which he/she resides, 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, and (ii) registered voters within the Issuer may sign a written petition requesting an election to authorize the issuance of the Bonds. If written petitions which have been signed by at least 20% of the registered voters within the Issuer are filed with the Issuer during said 30-day period, the Issuer shall be required to hold an election to obtain voter authorization prior to the issuance of the Series 2010 Bonds. If fewer than 20% of the registered voters within the Issuer file a written petition during said 30-day period, the Issuer may proceed to issue the Series 2010 Bonds without an election. DATED: October 7, 2010. /s/ Larry Anhder Secretary

Notice of Special Accommodations (ADA)

In compliance with the Americans With Disabilities act, reasonable accommodations for individuals with disabilities will be provided upon request. Please call 435-752-0431 for assistance at least 24 hours in advance of the meeting.

Notice of Electronic or Telephone Participation

electronic participation is not available

Meeting Information

Meeting Location

625 West 3200 South
Nibley,
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Contact Name

Cheryl Bodily

Contact Email

cheryl@nibleycity.com

Contact Phone

(435)752-0431

Notice Posting Details

Notice Posted On

October 22, 2010 11:10 AM

Notice Last Edited On

October 22, 2010 11:10 AM

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