General Information

Government Type

Special Service District

Entity

HEBER VALLEY SPECIAL SERVICE DISTRICT

Public Body

HEBER VALLEY SSD BOARD

Notice Information

Add Notice to Calendar

Notice Title

NOTICE OF PUBLIC HEARING AND BONDS TO BE ISSUED

Notice Subject(s)

Sewage

Notice Type(s)

Notice, Hearing

Event Start Date & Time

December 16, 2021 06:00 PM

Event End Date & Time

December 16, 2021 07:00 PM

Description/Agenda

NOTICE OF PUBLIC HEARING AND 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 November 18, 2021, the District Board of Directors (the 'Board') of the Heber Valley Special Service District, Utah (the 'Issuer'), adopted a resolution (the 'Resolution') in which it authorized the issuance of the Issuer's Sewer Revenue Bonds, Series 2022 (the 'Series 2022 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 that portion of the Series 2022 Bonds issued under the Act and (b) any potential economic impact that the Project described herein to be financed with the proceeds of the Series 2022 Bonds issued under the Act may have on the private sector. TIME, PLACE AND LOCATION OF PUBLIC HEARING The Issuer shall hold a public hearing on December 16, 2021, at the hour of 6:00 p.m. at 1000 East Main Street, Midway, Utah. The purpose of the hearing is to receive input from the public with respect to (a) the issuance of the Series 2022 Bonds issued under the Act and (b) any potential economic impact that the Project to be financed with the proceeds of that portion of the Series 2022 Bonds issued under the Act may have on the private sector. All members of the public are invited to attend and participate. PURPOSE FOR ISSUING THE SERIES 2022 BONDS The Series 2022 Bonds will be issued for the purpose of (a) financing the construction of improvements and additions to the Issuer's existing sewage treatment and collection system (the 'System') and all related improvements (the 'Series 2022 Project'), (b) funding any necessary debt service reserve funds, and (c) paying costs of issuance of the Series 2022 Bonds. PARAMETERS OF THE SERIES 2022 BONDS The Issuer intends to issue the Series 2022 Bonds in the aggregate principal amount of not more than Twenty-Three Million Dollars ($23,000,000), to mature in not more than twenty-one (21) 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 not to exceed five percent (5.00%) per annum. The Series 2022 Bonds are to be issued and sold by the Issuer pursuant to the Resolution, including as part of said Resolution, a General and a Supplemental Indenture (together, the 'Indenture') which were before the Board in substantially final form at the time of the adoption of the Resolution and said Indenture 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 2022 Bonds will not exceed the maximums set forth above. The Issuer reserves the right to not issue the Series 2022 Bonds for any reason and at any time up to the issuance of the Series 2022 Bonds. REVENUES PROPOSED TO BE PLEDGED The Series 2022 Bonds are special limited obligations payable from all or any part of the revenues, fees, income, rents and receipts received or earned by the Issuer from or attributable to the ownership and operation of the System. OUTSTANDING BONDS SECURED BY THE REVENUES The Issuer currently has no parity 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, Dennis Gunn, General Manager at (435) 901-2257. TOTAL ESTIMATED COST OF BONDS Based on the Issuer's current plan of finance for the Series 2022 Project and a current estimate of interest rates, the total principal and interest cost of the Series 2022 Bonds to be issued under the Act to finance the 2021 Project, if held until maturity, is $27,646,700. A copy of the Resolution and the Indenture are on file in the office of the Heber Valley Special Service District, 1000 East Main Street, Midway, Utah, where they may be examined during regular business hours of the District Clerk from 7:00 a.m. to 3:00 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 (i) any person in interest shall have the right to contest the legality of the Resolution, the Indenture (as it pertains to the Series 2022 Bonds), or the Series 2022 Bonds, or any provision made for the security and payment of the Series 2022 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, 2021. /s/Tina Rodriguez District Clerk

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 Dennis Gunn at 435-654-2248.

Notice of Electronic or Telephone Participation

N/A

Meeting Information

Meeting Location

1000 E Main St
P
Midway, UT 84049
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Contact Name

Janet Carson

Contact Email

jcarson@hvssd.org

Notice Posting Details

Notice Posted On

November 19, 2021 01:38 PM

Notice Last Edited On

November 19, 2021 01:38 PM

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