General Information

Government Type

Special Service District

Entity

Twin Creeks Special Service District

Public Body

Twin Creeks Special Service District

Notice Information

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Notice Title

NOTICE OF BONDS TO BE ISSUED

Notice Subject(s)

Bonds

Notice Type(s)

Notice, Bond

Event Start Date & Time

December 11, 2018 06:00 PM

Description/Agenda

NOTICE OF BONDS TO BE ISSUED NOTICE IS HEREBY GIVEN pursuant to the provisions of the Local Government Bonding Act, Title 11, Chapter 14, Utah Code Annotated 1953, as amended (the 'Act'), that on November 13, 2018, the County Council of Wasatch County, Utah, acting as the governing body (the 'Board') of the Twin Creeks Special Service District, Utah (the 'Issuer'), adopted a resolution (the 'Resolution') in which it authorized the issuance of the Issuer's Water Revenue Bonds, Series 2018 (to be issued in one or more series and with such other series or title designation(s) as may be determined by the Issuer) (collectively, the 'Bonds'), and called a public hearing to receive input from the public with respect to (a) the issuance of that portion of the Bonds issued under the Act and (b) any potential economic impact that the Project described herein to be financed with the proceeds of the Bonds issued under the Act may have on the private sector. PURPOSE FOR ISSUING THE BONDS The Bonds will be issued for the purpose of (a) financing all or a portion of the costs of construction of improvements to its water system (the 'System'), including, but not limited to treatment plant upgrades, a new tank and distribution piping and all related improvements (collectively, the 'Project') and (b) paying costs of issuance of the Bonds. PARAMETERS OF THE BONDS The Issuer intends to issue the Bonds in the aggregate principal amount of not more than Five Million Five Hundred Thousand Dollars ($5,500,000), to mature in not more than forty (40) years from their date or dates, to be sold at a price not less than ninety-eight percent (98%) of the total principal amount thereof, and bearing interest at a rate or rates not to exceed two percent (2.00%) per annum. The Bonds are to be issued and sold by the Issuer pursuant to the Resolution, including as part of said Resolution, a Master Resolution ('Master Resolution') which was before the Board in substantially final form at the time of the adoption of the Resolution and said Master Resolution is to be executed by the Issuer in such form and with such changes thereto as shall be approved by the Issuer; provided that the principal amount, interest rate or rates, maturity, and discount of the Bonds will not exceed the maximums set forth above. The Issuer reserves the right to not issue the Bonds for any reason and at any time up to the issuance of the Bonds. REVENUES PROPOSED TO BE PLEDGED The Bonds are special limited obligations of the Issuer payable from the net revenues of the System. OUTSTANDING BONDS SECURED BY REVENUES The Issuer currently has $1,291,890 of bonds outstanding secured by the Revenues. OTHER OUTSTANDING BONDS OF THE ISSUER Additional information regarding the Issuer's outstanding bonds may be found in the Issuer's financial report (the 'Financial Report') at: https://auditor.utah.gov/audit_reports/. For additional information, including any information more recent than as of the date of the Financial Report, please contact Ron Phillips, General Manager at 435-654-9233. TOTAL ESTIMATED COST OF BONDS Based on the Issuer's current plan of finance (estimated principal amount of $4,138,000.00, the total amount of the Bonds, less principal forgiveness) and a current estimate of interest rates, the total principal and interest cost of the Bonds to be issued under the Act to finance the Project, if held until maturity, is $4,155,200.30. A copy of the Resolution and the Master Resolution are on file in the office of Treasurer/ District Clerk, 5780 North Old Highway 40, Heber City, Utah where they may be examined during regular business hours of the Treasurer/District Clerk from 8:00 a.m. to 5:00 p.m. Monday through Friday, 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 Resolution, the Master 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. DATED this November 13, 2018. /s/Theresa Baronek

Notice of Special Accommodations (ADA)

Twin Creeks Special Service District will make efforts to provide reasonable accommodations to disabled members of the public in accessing District programs. Please contact Theresa Baronek at the Twin Creeks Special Service District office at 435-657-3244 in advance if you have special needs.

Notice of Electronic or Telephone Participation

NA

Meeting Information

Meeting Location

25 N MAIN STREET
HEBER CITY, 84032
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Contact Name

Dana Kohler

Contact Email

dana@jssd.us

Contact Phone

(435)657-3244

Notice Posting Details

Notice Posted On

November 14, 2018 02:42 PM

Notice Last Edited On

November 14, 2018 02:42 PM

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