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Trenton:
Trenton Town Council

Entity: Trenton

Body: Trenton Town Council

Subject: Other

Notice Title: Public Hearing

Notice Type: Hearing

Event Start Date & Time: June 4, 2019 07:30 PM

Description/Agenda:

NOTICE OF BONDS TO BE ISSUED

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 (the 'Act'), that on May 7, 2019, the Town Council (the 'Town Council') of Trenton Town, Cache County, Utah (the 'Issuer'), adopted a resolution (the 'Resolution') in which it authorized the issuance of the Issuer's Water Revenue Bonds in an amount of not more than $200,000 aggregate principal amount (the 'Bonds'), to bear interest at a rate or rates not to exceed four and one-half percent (4.50%) per annum, to mature in not more than forty (40) 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, if any, thereon. The estimated total cost to the Issuer for the proposed Bonds, if the Bonds are held until the maximum maturity, based on the maximum interest rate above, is approximately $231,581. Presently, the Issuer has no more than $1,904,500 in outstanding bonds secured by a pledge of water revenues.

NOTICE IS FURTHER GIVEN that the Issuer called a public hearing for the purpose of inviting public comment on the proposed issuance of the Bonds and the economic impact that the improvements proposed to be financed with the Bonds will have on the private sector. The public hearing will be held on June 4, 2019, at 7:30 p.m., or as soon thereafter as feasible, at 17 East Main, Trenton, Utah 84338.

The Bonds, pursuant to the Resolution, and a Bond Resolution to be adopted authorizing and confirming the sale of the Bonds (the 'Bond Resolution') are to be issued for the purposes of financing the (i) acquisition and construction of improvements to the Issuer's water system, and related improvements; and (ii) paying the costs of issuing the Bonds.

A draft of the Bond Resolution in substantially final form was before the Town Council and was part of the Resolution at the time of its adoption by the Town Council (collectively, the 'Bond Resolutions'). The Bond Resolution is to be adopted by the Town Council in such form and with such changes thereto as shall be approved by the Town 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.

Copies of the Bond Resolutions are on file in the office of the Town Clerk in the Issuer, located at 17 East Main, Trenton, Utah, where they may be examined during regular business hours of the Issuer are Tuesdays and Thursdays 9:00 a.m. to 1:00 p.m. 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 is provided by law during which any person in interest shall have the right to contest the legality of the Resolution, the Bond Resolution, the Bonds, or any provision made for the security and payment of the Bonds by filing a verified written complaint in the district court of the county in which he or 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.

DATED: May 7, 2019.

/s/ __Macall Smith ________

Notice of Special Accommodations:

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 Macall Smith at 435-563-9929.

Notice of Electronic or telephone participation:

NA

Other Information

This notice was posted on: May 15, 2019 02:34 PM
This notice was last edited on: May 15, 2019 02:34 PM

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