General Information

Government Type

Special Service District

Entity

Uintah County > Uintah Transportation Special Service District

Public Body

UTSSD Board of Directors

Notice Information

Add Notice to Calendar

Notice Title

UTSSD PUBLIC NOTICE

Notice Tags

Transportation

Notice Type(s)

Notice, Meeting, Hearing

Event Start Date & Time

May 26, 2022 06:30 PM

Event End Date & Time

May 26, 2022 06:30 PM

Event Deadline Date & Time

05/12/22 06:30 PM

Description/Agenda

NOTICE OF PUBLIC HEARING AND BONDS TO BE ISSUED NOTICE IS HEREBY GIVEN pursuant to the provisions of the Utah Local Government Bonding Act, Title 11, Chapter 14, Utah Code Annotated 1953, as amended, that on April 21, 2022, the Governing Body of the Uintah Transportation Special Service District, Uintah County, Utah (the 'Issuer'), adopted a resolution (the 'Resolution') in which it authorized the issuance and sale of the Issuer's Mineral Lease Revenue Bonds, in one or more series (the 'Bonds'), in an aggregate principal amount not to exceed $2,400,000; the Bonds to bear interest at the rate or rates not to exceed one half of one percent (0.5%) per annum, to mature in not more than 15 years from their date or dates, and to be sold at a price not less than 99% percent of the total principal amount thereof, plus accrued interest to the date of delivery, if any. The estimated total cost to the Issuer for the proposed Bonds, if the Bonds are held until the maximum maturity, based on the maximum interest rate above, is $2,491,625. However, the Issuer anticipates that the Bonds will not be issued in an amount in excess of $1,945,000, at an interest rate of one half of one percent (0.5%) per annum, to be repaid over 15 years, in which event the amount to be repaid will be $2,018,725. Presently, the Issuer has no more than $8,267,000 in outstanding bonds secured by a pledge of mineral lease revenues. The State of Utah Permanent Community Impact Fund Board has authorized a grant to the Issuer in the amount of $3,042,000, none of which will need to be repaid. NOTICE IS FURTHER GIVEN that the Issuer called a public hearing for the purpose of inviting public comment on the proposed issuance of the Bonds and the economic impact that the improvements proposed to be financed with the Bonds will have on the private sector. The public hearing will be held on May 26, 2022 at 6:30 p.m., or as soon thereafter as feasible, at 320 North Aggie Blvd., Suite 101, Vernal, Utah. All members of the public are invited to attend and participate. The Bonds will be issued pursuant to the Resolution and a Final Bond Resolution to be adopted authorizing and confirming the sale of the Bonds (the 'Final Bond Resolution') for the purpose to finance, in part, (i) the acquisition and construction of road and street transportation improvements in Uintah County, including crack sealing, chip sealing and line striping on the Dry Fork Canyon road, the Deep Creek road, the Glen Bench road and the Independence road, and the installation of overlay, chip sealing and lane striping on Fidler road, and related improvements (the 'Project') and (ii) paying the costs of issuing the Bonds. The Issuer proposes to pledge the federal mineral lease payments received by the Issuer pursuant to Title 59, Chapter 21, Utah Code Annotated 1953, as amended, to the repayment of the Bonds. As mineral lease revenue bonds, no property taxes will be pledged for repayment of the Bonds. A draft of the Final Bond Resolution in substantially final form was before the Governing Body and was part of the Resolution at the time of its adoption by the Governing Body (collectively, the 'Bond Resolutions'). The Final Bond Resolution is to be adopted by the Governing Body in such form and with such changes thereto as shall be approved by the Governing Body upon the adoption thereof; provided that the principal amount, interest rate or rates, maturity and discount of the Bonds will not exceed the maximums set forth above. Copies of the Bond Resolutions and information on the Issuer's outstanding bonds are on file in the office of the Executive Director of the Issuer located at 320 North Aggie Blvd., Suite 117, Vernal, Utah, where they may be examined during regular business hours from 8:00 a.m. to 5:00 p.m. Monday through Thursday for at least 30 days from and after the first date of publication of this notice. NOTICE IS FURTHER GIVEN that, for a period of thirty (30) days from and after the date of the publication of this notice, (1) any person in interest shall have the right to contest the legality of the Resolution, the Final Bond Resolution, or the Bonds, or any provision made for the security and payment of the Bonds by filing a verified written complaint in the district court of the county in which he/she resides, and that after such time, other than referendum rights, no one shall have any cause of action to contest the regularity, formality or legality thereof for any cause whatsoever, and (2) registered voters within the Issuer may sign a written petition requesting an election to authorize the issuance of the Bonds. If written petitions which have been signed by at least 20% of the registered voters of the Issuer are filed with the Issuer during that 30-day period, the Issuer will be required to hold an election to obtain voter authorization prior to the issuance of the Bonds. If fewer than 20% of the registered voters of the Issuer file a written petition during that 30-day period, the Issuer may proceed to issue the Bonds without an election. Registered voters may also exercise their right to a referendum election. DATED: April 21, 2022. /s/ Cheryl Meier Executive Director

Notice of Special Accommodations (ADA)

In accordance with the Americans with Disabilities Act, individuals needing special accommodations during this meeting should notify Cheryl Meier 24 hours in advance at 435-789-4636.

Notice of Electronic or Telephone Participation

NA

Meeting Information

Meeting Location

320 North Aggie Blvd.
Suite 117
Vernal, UT 84078
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Contact Name

Julie Joy-Hundley

Contact Email

adminsec@utssd.utah.gov

Contact Phone

(435)828-8407

Notice Posting Details

Notice Posted On

April 25, 2022 11:41 AM

Notice Last Edited On

April 25, 2022 11:41 AM

Deadline Date

May 12, 2022 06:30 PM

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