General Information

Government Type

Special Service District

Entity

South Utah Valley Solid Waste District

Entity Website

http://www.suvswd.org/

Public Body

South Utah Valley Solid Waste District

Notice Information

Add Notice to Calendar

Notice Title

Notice of Bonds to be Issued

Notice Tags

Bonds

Notice Type(s)

Notice, Bond

Event Start Date & Time

June 2, 2021 03:00 PM

Description/Agenda

NOTICE OF BONDS TO BE ISSUED NOTICE IS HEREBY GIVEN pursuant to the provisions of Section 11-14-316, Utah Code Annotated 1953, as amended, that on May 26, 2021, the Board of Directors (the 'Board') of the South Utah Valley Solid Waste District (the 'District'), adopted a resolution (the 'Resolution') in which it authorized and approved the issuance of its Solid Waste Management Revenue Bonds (the 'Bonds'), in an aggregate principal amount of not to exceed Thirty Million dollars to bear interest at a rate or rates of not to exceed five percent per annum and to mature not later than thirty- one years from their date or dates and to be sold at a discount from par not to exceed two percent. The Bonds shall be subject to such optional and mandatory redemption and other provisions as are contained in the Master Trust Indenture, described below, and the final form of the Bonds and Supplemental Indenture, described below. Pursuant to the Resolution, the Bonds are to be issued for the purpose of (a) financing all or a portion of the cost of replacing the District's existing transfer station and related improvements ('Project') to the solid waste management system of the District (collectively, the 'System'), (b) funding all or a portion of any necessary reserves in connection with the Bonds, and (c) paying all or a portion of the costs incurred in connection with the issuance and sale of the Bonds. The Bonds are to be issued and sold by the District pursuant to the Resolution and a Master Trust Indenture (the 'Master Indenture') and a Supplemental Indenture (the 'Supplemental Indenture') that were before the Board and attached to the Resolution at the time of the adoption of the Resolution; provided that the principal amount, interest rate or rates, maturity and discount, if any, will not exceed the respective maximums described above. The repayment of the Bonds will be secured by a pledge of the net revenues from the System (the 'Net Revenues'). The District currently has no bonds currently outstanding that are secured by the Net Revenues. More detailed information relating to the District's outstanding bonds can be found in the District's most recent Comprehensive Annual Financial Report that is available on the Office of the Utah State Auditor's website (www.sao.state.ut.us). The estimated total cost to the District of the proposed Bonds that will be used to finance the costs of the Project, if the Bonds are held until maturity and based on estimated interest rates currently in effect, is $40,536,438. A copy of the Resolution (including the drafts of the Supplemental Indenture and a copy of the Master Indenture attached to the Resolution) is on file in the office of the District at 2450 West 400 South, in Springville, Utah, where it may be examined during regular business hours of the District from 8:00a.m. to 4:30 p.m. The Resolution shall be so available for inspection for a period of at least thirty (30) days from and after the date of the publication of this notice. NOTICE IS FURTHER GIVEN that, pursuant to law, 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 Resolution (including the Supplemental Indenture attached thereto) of the District or the Bonds authorized thereby or any provisions made for the security and payment of the Bonds. After such time, no one shall have any cause of action to contest the regularity, formality or legality of the Resolution, the Bonds or any provisions made for their security and payment for any cause. DATED May 26, 2021. SOUTH UTAH VALLEY SOLID WASTE DISTRICT

Notice of Special Accommodations (ADA)

In compliance with the Americans with Disabilities Act, individuals needing special accommodations (including auxiliary communicative aids and services) during this meeting should notify Terry Ficklin, District Manager, 801-489-3027.

Notice of Electronic or Telephone Participation

Telephonic participation available N/A

Meeting Information

Meeting Location

2450 W. 400 S.
2450 W. 400 S.
Springville, UT 84663
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Contact Name

Michelle Poorman

Contact Email

mpoorman@suvswd.org

Notice Posting Details

Notice Posted On

June 02, 2021 02:36 PM

Notice Last Edited On

June 02, 2021 02:36 PM

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