General Information

Government Type

County

Entity

Wasatch County

Public Body

Wasatch County Council

Notice Information

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Notice Title

Wasatch County Council

Notice Subject(s)

Business

Notice Type(s)

Notice

Event Start Date & Time

August 19, 2020 03:00 PM

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, that on August 19, 2020, the County Council (the 'Council') of Wasatch County, Utah (the 'Issuer') adopted a resolution (the 'Resolution') in which it authorized the issuance of its General Obligation Bonds, Series 2020 (to be issued in one or more series and from time to time, with any other title or series designation) (the 'Bonds'). PURPOSE FOR ISSUING THE BONDS Pursuant to the Resolution, the Bonds are to be issued for the purpose of (a) paying all or a portion of the costs to acquire, preserve, or protect the permanent protection of open space within the county using all available land preservation tools, including but not limited to acquisition of land, development rights, conservation easements, maintenance of use agreements, or related operation, maintenance or start-up expenses and related improvements (the 'Series 2020 Project') and (b) paying related expenses. PARAMETERS OF THE BONDS The Issuer intends to issue the Bonds in the aggregate principal amount of not to exceed Five Million Dollars ($5,000,000), to mature in not more than twenty-one (21) years, to be sold at a price not less than three percent (3.00%) of the total principal amount thereof and bearing interest at a rate or rates not to exceed six percent (6.00%) per annum. The Bonds are to be issued and sold by the Issuer pursuant to the Resolution, with such final terms and provisions as may be deemed appropriate by authorized officers of the Issuer, provided that said final terms shall not exceed the maximums set forth above. SECURITY PLEDGED FOR THE BONDS The Bonds are general obligations of the Issuer secured by the full faith and credit and taxing power of the Issuer. OUTSTANDING BONDS Other than the proposed Bonds, the Issuer currently has no general obligation bonds currently outstanding. OTHER OUTSTANDING BONDS OF THE ISSUER Additional information regarding the Issuer's outstanding bonds or obligations may be found in the Issuer's financial report (the 'Financial Report') at: http://auditor.utah.gov/accountability/financial-reports-of-local-governments/. For additional information, including any information more recent than as of the date of the Financial Report, please contact Cal Griffiths, Clerk-Auditor/ at (435) 657-3190. TOTAL ESTIMATED COST Based on the Issuer's current plan of finance and a current estimate of interest rates, the total principal and interest cost of the Bonds if held until maturity is $6,303,000. A copy of the Resolution is on file in the office of the Clerk-Auditor at the Issuer's offices located at 25 North Main Street, in Heber City, Utah, where they may be examined during regular business hours from 8:00 a.m. to 5:00 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 or 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 August 19, 2020. /s/ Cal Griffiths Clerk-Auditor

Notice of Special Accommodations (ADA)

Wasatch County will make efforts to provide reasonable accommodations to disabled members of the public in accessing County programs. Please contact Michelle Crook at the Wasatch County Council office at 435-657-3190 in advance if you have special needs.

Notice of Electronic or Telephone Participation

There is no electronic participation at this time.

Meeting Information

Meeting Location

25 N Main
Heber, 84032
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Contact Name

Wendy McKnight

Contact Email

wmcknight@wasatch.utah.gov

Contact Phone

(435)657-3193

Notice Posting Details

Notice Posted On

August 31, 2020 09:17 AM

Notice Last Edited On

September 01, 2020 10:32 AM

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