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Jordanelle Special Service District:
Jordanelle Special Service District

Entity: Jordanelle Special Service District

Body: Jordanelle Special Service District

Subject: Business

Notice Title: Notice

Notice Type: Notice

Event Start Date & Time: September 10, 2019 07:00 AM

Description/Agenda:

NOTICE OF BONDS TO BE ISSUED
NOTICE IS HEREBY GIVEN pursuant to the provisions of the Utah Refunding Bond Act, Title 11, Chapter 27, Utah Code Annotated 1953, as amended (the 'Act'), that on September 10, 2019, the Board of Directors (the 'Board') of the Jordanelle Special Service District, Utah (the 'Issuer'), will consider for adoption a resolution (the 'Resolution') authorizing the issuance of the Issuer's Water and Sewer Revenue Refunding Bonds, Series 2019 (the 'Bonds') (to be issued in one or more series and with such other series or title designation(s) as may be determined by the Issuer).
PURPOSE FOR ISSUING THE BONDS
The Bonds will be issued for the purpose of (a) refunding all or a part of the Issuer's outstanding water and sewer revenue bonds (the 'Refunded Bonds') in order to achieve a debt service savings 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 Two Million Two Hundred and Fifty Thousand Dollars ($2,250,000), to mature in not more than fifteen (15) 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 of not to exceed four percent (4.0%) per annum.  The Bonds are to be issued and sold by the Issuer pursuant to the Resolution, including as part of said Resolution, a General Indenture of Trust and a Supplemental Indenture of Trust (together, the 'Indenture') which were before the Board in substantially final form at the time of the adoption of the Resolution.
REVENUES PROPOSED TO BE PLEDGED
The Issuer proposes to pledge all Net Revenues from its Water and Sewer Systems received by the Issuer for the payment of the Bonds.  
A copy of the Resolution and the Indenture are on file in the office of Clerk, at 5388 North Old Highway 40, Heber City, Utah, where they may be examined during regular business hours of the Clerk from 7:00 a.m. to 5:00 p.m., Monday through Thursday, 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 Indenture (but only as it relates to the Series 2019 Bonds), or the Series 2019 Bonds, or any provision made for the security and payment of the Series 2019 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 September 10, 2019.
/s/ Eliza McGa	ha	
Clerk

Notice of Special Accommodations:

Jordanelle Special Service District will make efforts to provide reasonable accommodations to disabled members of the public in accessing District programs. Please contact the Jordanelle Special Service District office at 435-654-9233 in advance if you have special needs.

Notice of Electronic or telephone participation:

NA

Other Information

This notice was posted on: September 09, 2019 08:44 AM
This notice was last edited on: September 09, 2019 08:44 AM

Board/Committee Contacts

Member Email Phone
Marilyn Crittenden mcrittenden@wasatch.utah.gov (435)657-3180
Steve Farrell sfarrell@wasatch.utah.gov (435)657-3180
Danny Goode dgoode@wasatch.utah.gov (435)657-3180
Kendall Crittenden kcrittenden@wasatch.utah.gov (435)657-3180
Mark Nelson mnelson@wasatch.utah.gov (435)657-3180
Spencer Park spark@wasatch.utah.gov (435)657-3180
Jeff Wade jwade@wasatch.utah.gov (435)657-3180

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