General Information

Government Type

Municipality

Entity

Circleville

Public Body

Town Council

Notice Information

Add Notice to Calendar

Notice Title

Town Board

Notice Tags

Administrative Services

Notice Type(s)

Notice, Meeting, Hearing, Bond

Event Start Date & Time

July 14, 2022 07:00 PM

Description/Agenda

NOTICE OF BONDS TO BE ISSUED PUBLIC NOTICE IS HEREBY GIVEN that on June 9, 2022, the Mayor and Town Council of Circleville Town (the 'Issuer'), adopted a resolution (the 'Resolution') declaring its intention to issue its Parity Water Revenue Bonds (the 'Bonds') pursuant to the Utah Local Government Bonding Act, Title 11, Chapter 14, Utah Code Annotated 1953, as amended. The Issuer intends to issue the Bonds in the principal amount of not to exceed $900,000, to bear interest at a rate not to exceed 2.0% per annum, to mature in not more than 35 years from their date or dates, and to be sold at a price not less than 100% of the total principal amount thereof, plus accrued interest to the date of delivery. The Bonds will specify that any installment of principal and/or interest on the Bonds which shall not be paid when due shall bear interest at the rate of 18% per annum from the due date thereof until paid. The Issuer intends to issue the Bonds for the purpose of (I) financing all or a portion of the cost of construction of culinary water system improvements, including drilling of a new well, developing of an existing well and construction of a storage tank, together with related improvements; and (ii) paying costs of issuing the Bonds. OUTSTANDING BONDS SECURED BY THE SAME REVENUE The Issuer currently has outstanding bonds secured by the pledge of culinary water system revenues, namely: Water Revenue Bond, Series 1992 in the original principal amount of $278,400 payable to the United States of America; Parity Water Revenue Bond, Series 2007 in the original principal amount of $242,000 payable to the Utah Drinking Water Board.; and its Parity Water Revenue Bond, Series 2011 in the original principal amount of $165,000 payable to the Utah Drinking Water Board. ESTIMATED TOTAL COST OF THE BONDS Although the Resolution authorizes the issuance of Bonds in the aggregate principal amount of up to $900,000, the Issuer anticipates that the actual principal amount of the Bonds will be $470,000, in which case the estimated total cost to the Issuer for the proposed Bonds is $505,603.33, including an estimated cost of interest on the Bonds is $35,603.33. NOTICE IS FURTHER GIVEN that a period of 30 days from and after the last date of 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. A copy of the Resolution is on file in the office of the Town Clerk in Circleville, Utah, where it may be examined during regular business hours of the Town Clerk from __:00 a.m. to __:00 p.m., Monday through Friday. DATED this 9th day of June, 2022. /s/ Mekeisia Westwood Town Clerk [Publish one time only.]

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 Susan Morgan, Circleville, 435-231-2026.

Notice of Electronic or Telephone Participation

NA

Meeting Information

Meeting Location

210 S Center
Circleville, UT 84723
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Contact Name

Neccia Dalton

Contact Email

neccia.d@gmail.com

Contact Phone

435-979-3202

Notice Posting Details

Notice Posted On

June 16, 2022 04:23 PM

Notice Last Edited On

June 16, 2022 04:23 PM

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