General Information

Government Type

Municipality

Entity

Tabiona

Public Body

Tabiona Town Council

Notice Information

Add Notice to Calendar

Notice Title

Public Hearing

Notice Tags

Resolutions

Notice Type(s)

Notice, Hearing, Bond

Event Start Date & Time

April 14, 2020 06:00 PM

Event End Date & Time

April 14, 2020 08:00 PM

Event Deadline Date & Time

04/14/20 01:00 AM

Description/Agenda

NOTICE OF PUBLIC HEARING AND 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, that on March 10, 2020, the Town Council (theCouncil) of the Town of Tabiona, Utah (the), adopted a resolution (the Resolution) in which it authorized the issuance and sale of the Issuers Water Revenue Bonds (herein, the Bonds) in an aggregate principal amount not to exceed $1,000,000, to bear interest at a rate or rates not to exceed one percent (1.0%) 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 ninety-nine percent (99%) of the total principal amount thereof. If Bonds are issued in the full amount above, and carried to maximum maturity, at the maximum interest rate, then the amount to be repaid will be approximately $1,185,600. However, the Issuer anticipates that the Bonds will not be issued in an amount in excess of $783,000 at an interest rate of not more than one percent (1.0%) per annum, to be repaid over thirty (30) years, in which event the amount to be repaid will be approximately $910,090. The Issuer has obtained a grant commitment in the amount of $1,825,000 for the Project, none of which will need to be repaid. There are no other bonds currently outstanding that are secured by the same pledge of revenues as the proposed Bonds. 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. No taxes will be pledged to secure the Bonds. The public hearing will be held on April 14, 2020 at 6:00 p.m., or as soon thereafter as feasible, at the Tabiona Town Hall located at 38152 W. 3950 N., Tabiona, Utah 84072. The Bonds will be issued pursuant to the Resolution and a Final Bond Resolution to be adopted authorizing and confirming the sale of the Bonds (the Final Bond Resolution) for the purposes of financing, in part, (i) improvements to the water system, and related improvements, and (ii) paying the costs of issuing the Bonds. A draft of the Final Bond Resolution in substantially final form was before the Council and was part of the Resolution at the time of the adoption of the Resolution by the Council (collectively, the Bond Resolutions). The Final Bond Resolution is to be adopted by the Council in such form and with such changes thereto as shall be approved by the Council upon the adoption thereof; provided that the principal amount, the interest rate, 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 of the Issuer in Tabiona, Utah, where they may be examined on Tuesdays from 10:00 a.m. to 3:00 p.m., or by appointment, by calling (435) 848-5481, for a period of at least thirty (30) days from and after the last 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, any person in interest shall have the right to contest the legality of the Bond Resolutions or 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 their county of residence, and that after such 30-day period, no one shall have any cause of action to contest the regularity, formality or legality thereof for any reason. DATED: March 10, 2020. Jenny Giles Town Clerk

Notice of Special Accommodations (ADA)

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 Jenny Giles at 435-848-5488.

Notice of Electronic or Telephone Participation

NA

Meeting Information

Meeting Location

38152 West 3900 North
TABIONA, 84072
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Contact Name

Jenny Giles

Contact Email

tabiona@ubtanet.com

Contact Phone

4358485481

Notice Posting Details

Notice Posted On

March 17, 2020 02:15 PM

Notice Last Edited On

April 16, 2020 02:41 PM

Deadline Date

April 14, 2020 01:00 AM

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