General Information

Government Type

Municipality

Entity

Salina

Public Body

City Council

Notice Information

Add Notice to Calendar

Notice Title

Public Hearing

Notice Tags

Business

Notice Type(s)

Hearing

Event Start Date & Time

November 11, 2020 07:00 PM

Description/Agenda

NOTICE OF PUBLIC HEARING AND BONDS TO BE ISSUED ZOOM MEETING MEETING ID #756-407-5259 NOTICE IS HEREBY GIVEN that on October 20, 2020, the Board of Trustees of the Municipal Building Authority of Salina City #2, Sevier County, Utah (the 'Issuer'), adopted a resolution (the 'Resolution') declaring its intention to issue its Equipment Lease Revenue Bonds (the 'Bonds') pursuant to the provisions of the Utah Government Bonding Act, Title 11, Chapter 14, Utah Code Annotated 1953, as amended and the Utah Local Building Authority Act, Title 17D, Chapter 2, Utah Code Annotated 1953, as amended (collectively, the 'Act') and to call a public hearing to receive input from the public with respect to the issuance of the Bonds and the potential economic impact on the private sector that the facility funded by the Bonds may have. TIME, PLACE AND LOCATION OF PUBLIC HEARING The Issuer shall hold a public hearing on November 11, 2020, at the hour of 7:00 p.m. The location of the public hearing is the City Office, 90 West Main Street, Salina, Utah. The purpose of the meeting is to receive input from the public with respect to the issuance of the Bonds and any potential economic impact that the Equipment financed in whole or in part with the proceeds of the Bonds may have on the private sector. All members of the public are invited to attend and participate. PURPOSE FOR ISSUING BONDS The Issuer intends to issue the Bonds for the purpose of (i) financing a portion of the cost of acquiring fire trucks and related public safety equipment; and (ii) paying costs of issuing the Bonds. OUTSTANDING BONDS SECURED BY THE SAME REVENUE There are no outstanding bonds secured by the revenues from the lease of the public safety equipment, which revenues are being pledged to secure the payment of the Bonds. ESTIMATED TOTAL COST OF THE BONDS Although the Issuer has authorized the issuance of Bonds in the total amount of not to exceed $300,000, the Issuer anticipates the Bonds will actually be issued in the principal amount of $213,000. If that were the case, the estimated total cost to the Issuer for the proposed Bonds is $213,000, including an estimated cost of interest of $0.00. PARAMETERS OF THE BONDS The Issuer intends to issue the Bonds in the principal amount of not to exceed $300,000, to bear interest at a rate not to exceed 2.0% per annum, to mature in not to more than 20 years from their date or dates, and to be sold at a price not less than 100% of the total principal amount thereof, plus accrued interest, if any, to the date of delivery. The Bonds will specify that any installment of principal on the Bonds which shall not be paid when due shall bear interest at the rate of 18% per annum from the due date thereof until paid. NOTICE IS FURTHER GIVEN that a period of 30 days from and after the last date of 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. A copy of the Resolution is on file in the office of the City Recorder in Salina, Utah, where it may be examined during regular business hours of the City Recorder from 8:00 a.m. to 5:00 p.m., Monday through Thursday. DATED this 20th day of October, 2020. /s/ Ashlee Larsen City Recorder [Publish once each week for two consecutive weeks.]

Notice of Special Accommodations (ADA)

THE PUBLIC IS INVITED TO PARTICIPATE IN ALL CITY COUNCIL MEETINGS. If you need a special accommodation to participate in the City Council Meetings, please notify Jennifer Vought, City Recorder, (435) 529-7304, at least 24 hours prior to the meeting.

Notice of Electronic or Telephone Participation

NA

Meeting Information

Meeting Location

90 West Main
Salina, UT 84654
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Contact Name

Ashlee Larsen

Contact Email

ashlee@salinacity.org

Notice Posting Details

Notice Posted On

October 22, 2020 08:37 AM

Notice Last Edited On

November 09, 2020 12:24 PM

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