General Information

Government Type

Municipality

Entity

Woodland Hills

Public Body

City Council

Notice Information

Add Notice to Calendar

Notice Title

Notice of Bonds

Notice Tags

Bonds, Public Records

Notice Type(s)

Notice, Bond

Event Start Date & Time

August 19, 2020 11:00 AM

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 August 18, 2020, the City Council (the 'Council') of the City of Woodland Hills, Utah (the 'Issuer'), adopted a resolution (the 'Resolution') in which it authorized the issuance of the Issuer's Water Revenue Bonds, Series 2020 (the 'Series 2020 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), and called a public hearing to receive input from the public with respect to (a) the issuance of the Series 2020 Bonds and (b) any potential economic impact that the Series 2020 Project (defined below) to be financed with the proceeds of the Series 2020 Bonds may have on the private sector. PURPOSE FOR ISSUING THE SERIES 2020 BONDS The Series 2020 Bonds will be issued for the purpose of (a) financing the construction of improvements to the Issuer's water system, including water line replacements and all related improvements (collectively, the 'Series 2020 Project') and (b) paying costs of issuance of the Series 2020 Bonds. PARAMETERS OF THE SERIES 2020 BONDS The Issuer intends to issue the Series 2020 Bonds in the aggregate principal amount of not more than Three Million Dollars ($3,000,000), to mature in not more than thirty-three (33) 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 no interest. The Series 2020 Bonds are to be issued and sold by the Issuer pursuant to the Resolution, including as part of said Resolution, a Master Resolution (the 'Master Resolution') which were before the Council 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 Series 2020 Bonds will not exceed the maximums set forth above. The Issuer reserves the right to not issue the Series 2020 Bonds for any reason and at any time up to the issuance of the Series 2020 Bonds. REVENUES PROPOSED TO BE PLEDGED The Series 2020 Bonds are special limited obligations of the Issuer payable from the net revenues of the Issuer's water system (the 'System'). OUTSTANDING BONDS SECURED BY REVENUES The Issuer currently has $738,000 of bonds outstanding secured by the net revenues of the System. 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: http://secure.utah.gov/auditor-search/. For additional information, including any information more recent than as of the date of the Financial Report, please contact, Jody Stones, City Recorder at (801) 423-1962. TOTAL ESTIMATED COST OF BONDS Based on the Issuer's current plan of finance and a current estimate of interest rates, the total principal and interest cost of the Series 2020 Bonds to be issued under the Act to finance the Series 2020 Project, if held until maturity, is $3,000,000. A copy of the Resolution and the Master Resolution are on file at 690 South Woodland Hills Drive, Woodland Hills, Utah, where they may be examined during regular business hours from 9:00 a.m. to 12:00 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 Series 2020 Bonds, or any provision made for the security and payment of the Series 2020 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 August 18, 2020. /s/ Jody Stones City Recorder

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 Jody Stones at 801-423-1962.

Notice of Electronic or Telephone Participation

NA

Meeting Information

Meeting Location

690 S WOODLAND HILLS DR
WOODLAND HILLS, 84653-2009
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Contact Name

Jody Stones

Contact Email

recorder@woodlandhills.cc

Contact Phone

8014231962

Notice Posting Details

Notice Posted On

August 19, 2020 10:29 AM

Notice Last Edited On

August 19, 2020 10:29 AM

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