General Information

Government Type

Municipality

Entity

Kaysville

Public Body

Municipal Building Authority

Notice Information

Add Notice to Calendar

Notice Title

Notice of Bonds to be Issued

Notice Tags

Bonds

Notice Type(s)

Notice, Bond

Event Start Date & Time

October 3, 2019 07:00 PM

Description/Agenda

NOTICE OF BONDS TO BE ISSUED PUBLIC NOTICE IS HEREBY GIVEN that pursuant to the Local Building Authority Act, Title 17D, Chapter 2, Utah Code Annotated 1959, as amended, and the Utah Refunding Bond Act, Title 11, Chapter 27, Utah Code Annotated 1953, as amended (collectively, the 'Act'), the Governing Board (the 'Board') of the Municipal Building Authority of Kaysville City, Utah (the 'Issuer'), adopted a resolution on October 3, 2019 (the 'Resolution') in which it authorized the issuance of the Issuer's Lease Revenue Refunding Bonds, Series 2019B (the 'Series 2019B Bonds') (to be issued in one or more series from time to time and with any other series or title designations of the Issuer). PURPOSE FOR ISSUING THE SERIES 2019B BONDS The Series 2019B Bonds will be issued for the purpose of (a) refunding all of the Issuer's outstanding Lease Revenue Refunding Bonds, Series 2014 Bonds which were previously issued to finance a portion of the costs of the construction of a new police station and all related improvements and (b) paying issuance expenses of the Series 2019B Bonds. PARAMETERS OF THE BONDS The Issuer intends to issue the Bonds in the principal amount of not to exceed Four Million Four Hundred Thousand Dollars ($4,400,000), to bear interest at the rate or rates of not to exceed three and one-half percent (3.50%) per annum, to mature in not more than fourteen (14) years from their date or dates of issuance, and to be sold at a price not less than ninety-eight percent (98%) of the total principal amount thereof. The Bonds are to be issued and sold by the Authority pursuant to the Resolution, including as part of said Resolution, forms of a General Indenture of Trust (the 'General Indenture'), a Supplemental Indenture of Trust (the 'Supplemental Indenture' and collectively with the General Indenture, the 'Indenture'), a Bond Purchase Agreement (the 'Purchase Agreement'), a Master Lease Agreement (the 'Master Lease'), certain Security Documents (the 'Security Documents'), and a Ground Lease (the 'Ground Lease'), which were before the Governing Board and attached to the Resolution at the time of the adoption of the Resolution and said General Indenture, Supplemental Indenture, Purchase Agreement, Master Lease, Security Documents, and Ground Lease are to be executed by the Authority in such form and with such changes thereto as shall be approved by the Authority; provided that the principal amount, interest rates, maturity, and discount of the Bonds will not exceed the maximums set forth above. SECURITY FOR THE BONDS This Bonds are to be issued under and secured by and entitled to the protection of the Indenture, pursuant to which all base rentals payable by Kaysville City, Utah (the 'City') under the Master Lease and, if paid by the City, the Purchase Option Price, are assigned to secure the payment of principal of, interest on, and premium, if any on the Bonds. Additionally, a security interest in the Project shall be granted to the holders of this Bonds pursuant to the Master Lease, to further secure the Authority's obligations under the Indenture. NOTICE IS HEREBY 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 Series 2019B Bonds or the Indenture and the Master Lease (but only as they relate to 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 October 3, 2019. /s/ Annemarie Plaizier Secretary-Treasurer

Notice of Special Accommodations (ADA)

Kaysville City is dedicated to a policy of non-discrimination in admission to, access to, or operations of its programs, services or activities. If you need special assistance due to a disability, please contact the Kaysville City Offices at (801) 546-1235.

Notice of Electronic or Telephone Participation

A member of the Agency Governing Board may participate in meetings by telephone providing that at least three members of the Agency Governing Board are present in person at the meeting, no more than two members of the Agency Governing Board participate by telephone, and if the Chair is participating by telephone, the Vice-Chair shall preside over the meeting.

Meeting Information

Meeting Location

80 North Main Street
Kaysville, 84037
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Contact Name

Maryn Nelson

Contact Email

mailbox@kaysvillecity.com

Contact Phone

(801)546-1235

Notice Posting Details

Notice Posted On

October 07, 2019 11:21 AM

Notice Last Edited On

October 07, 2019 11:21 AM

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