General Information

Government Type

Municipality

Entity

West Jordan

Entity Website

https://www.westjordan.utah.gov/

Public Body

City Council

Notice Information

Add Notice to Calendar

Notice Title

Public Notice

Notice Tags

Bonds

Notice Type(s)

Notice, Bond

Event Start Date & Time

November 20, 2020 09:45 AM

Event End Date & Time

December 20, 2020 05:00 PM

Description/Agenda

NOTICE OF BONDS TO BE ISSUED NOTICE IS HEREBY GIVEN pursuant to the provisions of the Utah Refunding Bond Act, Title 11, Chapter 27, Utah Code Annotated 1953, as amended (the 'Act'), that on November 18, 2020, the City Council (the 'Council') of the City of West Jordan, Utah (the 'Issuer'), adopted a resolution (the 'Resolution') in which it authorized the issuance of the Issuer's Water Revenue Refunding Bonds, Series 2021 (the '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). PURPOSE FOR ISSUING THE BONDS The Bonds will be issued for the purpose of (a) refunding a portion of the Issuer's outstanding water revenue bonds (the 'Refunded Bonds') in order to achieve a debt service savings and (b) paying costs of issuance of the Bonds. PARAMETERS OF THE BONDS The Issuer intends to issue the Bonds in the aggregate principal amount of not more than Ten Million Dollars ($10,000,000), to mature in not more than fourteen (14) 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 interest at a rate or rates of not to exceed five percent (5.0%) per annum. The Bonds are to be issued and sold by the Issuer pursuant to the Resolution, including as part of said Resolution, a General Indenture of Trust (previously entered into) and a Supplemental Indenture of Trust (collectively, the 'Indenture') which were before the Council in substantially final form at the time of the adoption of the Resolution. REVENUES TO BE PLEDGED The Bonds are special limited obligations of the Issuer payable from the net revenues of the Issuer's water system. A copy of the Resolution and the Indenture are on file in the office of the West Jordan City Clerk, 8000 South Redwood Road, West Jordan, Utah, where they may be examined during regular business hours of the City Clerk 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, the Indenture (but only as it relates to the Bonds), 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 November 18, 2020. /s/ City Clerk

Notice of Special Accommodations (ADA)

In accordance with the Americans with Disabilities Act, the City of West Jordan will make reasonable accommodations for participation in the meeting. Request for assistance can be made by contacting the West Jordan City Council Office at (801) 569-5017 and providing at least three working days advance notice of the meeting. TTY 711

Notice of Electronic or Telephone Participation

One or more council members may participate electronically in this meeting by way of telephone, FaceTime, Skype, or other comparable online video conferencing technology per Utah Code (§52-4-207) and West Jordan City Ordinance 1-13-1-E. Members participation via electronic communication will be broadcast and amplified so other Council Members and all other persons present in the Council Chambers will be able to hear or see the communication. The Council encourages interested parties and the public to watch the video stream of the meeting via the city YouTube channel. https://bit.ly/WestJordan (West Jordan YouTube channel)

Meeting Information

Meeting Location

8000 S Redwood Road
West Jordan, UT 84088
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Contact Name

Alan Anderson

Contact Email

alan.anderson@westjordan.utah.gov

Contact Phone

8015695028

Notice Posting Details

Notice Posted On

November 20, 2020 09:44 AM

Notice Last Edited On

November 20, 2020 09:44 AM

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