General Information

Government Type

Municipality

Entity

Centerville

Public Body

City Council

Notice Information

Add Notice to Calendar

Notice Title

Notice of Bonds to be Issued

Notice Tags

Bonds, Cemeteries

Notice Type(s)

Notice, Bond

Event Start Date & Time

June 8, 2022 11:00 AM

Description/Agenda

NOTICE OF 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 City Council (the 'Council') of Centerville City, Utah (the 'City') adopted a resolution (the 'Resolution') on June 7, 2022 authorizing the issuance of the City's General Obligation Bonds, Series 2022 (to be issued in one or more series and from time to time, with any other title or series designation directed by the City) (the 'Bonds'). PURPOSE FOR ISSUING THE BONDS Pursuant to the Resolution, the Bonds are to be issued for the purpose of (i) paying all or a portion of the costs of a city cemetery, purchase of land, renovations and related improvements (the 'Project') and (ii) paying related expenses. PARAMETERS OF THE BONDS The City intends to issue the Bonds in the aggregate principal amount of not to exceed Seven Million Dollars ($7,000,000), to mature in not more than twenty-six (26) 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, bearing interest at a rate or rates not to exceed 6.0% per annum. OUTSTANDING BONDS SECURED BY SECURITY PLEDGED Other than the proposed General Obligation Bonds, the City currently has $-0- bonds outstanding secured by the full faith and credit and taxing power of the City. OTHER OUTSTANDING BONDS OF THE CITY Additional information regarding the City's outstanding bonds may be found in the City's financial report (the 'Financial Report') at : https://reporting.auditor.utah.gov/searchreports/s/. For additional information, including any information more recent than as of the date of the Financial Report, please contact the Finance Director at (801) 295-3477. TOTAL ESTIMATED COST Based on the City's current plan of finance and a current estimate of interest rates, the total principal and interest cost of the General Obligation Bonds if held until maturity is approximately $10,885,297. The Bonds are to be issued and sold by the City pursuant to the Resolution, with such final terms and provisions as may be deemed appropriate by authorized officers of the City, provided that said final terms shall not exceed the maximums set forth above. A copy of the Resolution is on file in the office of the City Recorder of Centerville City, Utah in the City offices located at 250 North Main, Centerville, Utah where it may be examined during regular business hours of the City 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. SECURITY PLEDGED FOR THE BONDS The Bonds are general obligations of the City secured by the full faith and credit and taxing power of the City. 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 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 June 7, 2022. /s/ Jennifer Hansen City Recorder

Notice of Special Accommodations (ADA)

Centerville City, in compliance with the Americans With Disabilities Act, provides accommodations and auxiliary communicative aids and services for all those citizens in need of assistance, including hearing devices. Persons requesting these accommodations for City-sponsored public meetings, services, programs, or events should call Jacob Smith, Administrative Services Director, at 801-295-3477,giving at least 24 hours notice prior to the meeting.

Notice of Electronic or Telephone Participation

Meetings of the City Council of Centerville City may be conducted via electronic means pursuant to Utah Code Ann. 52-4-207, as amended. In such circumstances, contact will be established and maintained via electronic means and the meeting will be conducted pursuant to the Electronic Meetings Policy established by the City Council for electronic meetings.

Meeting Information

Meeting Location

250 N Main
Centerville, UT 84014
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Notice Posting Details

Notice Posted On

June 08, 2022 10:51 AM

Notice Last Edited On

June 08, 2022 10:51 AM

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