General Information

Government Type

Municipality

Entity

Lewiston

Public Body

Lewiston City Council

Notice Information

Add Notice to Calendar

Notice Title

Public Hearing

Notice Tags

Bonds, Hearings

Notice Type(s)

Hearing, Bond

Event Start Date & Time

June 20, 2023 07:30 PM

Description/Agenda

RENOTICE OF PUBLIC HEARING AND BOND ANTICIPATION NOTES TO BE ISSUED RENOTICE IS HEREBY GIVEN pursuant to the provisions of the Utah Local Government Bonding Act, Title 11, Chapter 14, Utah Code Annotated 1953, as amended, and the Utah Refunding Bond Act, Title 11, Chapter 27, Utah Code Annotated 1953, as amended, that the City Council (the 'Council') of Lewiston City, Utah (the 'Issuer') provides notice of its intention to extend the maturity on its outstanding Bond Anticipation Notes, Series 2022 issued in October 2022 for water system improvements in the amount of $8,263,000 and to replace the 2022 Notes with notes in the aggregate principal amount of not to exceed $8,263,000, to bear interest at the rate or rates of not to exceed nine percent (9.0%) per annum, to mature in not more than three (3) years from their date or dates for the Notes, and to be sold at a price not less than 98% of the total principal amount thereof. The estimated total cost to the Issuer for the proposed Notes if held until the maximum maturity, based on the maximum interest rate above, is approximately $9,459,402. Other than the 2022 Notes to be replaced, presently, the Issuer has no more than $100,000 in outstanding bonds secured by a pledge of water revenues. The United States Department of Agriculture, Rural Utilities Service has authorized a grant to the Issuer in the amount of $400,000. NOTICE IS FURTHER GIVEN that the Issuer calls a public hearing for the purpose of inviting public comment on the proposed issuance of the Bond Anticipation Notes to replace the 2022 Notes and the economic impact that the improvements proposed to be financed with the Bond Anticipation Notes will have on the private sector. The public hearing will be held on June 20, 2023, at 7:30 p.m., or as soon thereafter as feasible, at the regular meeting place of the Council in the Club Room at 29 South Main, Lewiston, Utah 84320. As Water Revenue Notes no taxes will be pledged to repay the Notes. This notice replaces prior notices regarding the same notes. The Notes will be issued pursuant to the Resolution for the purposes to finance (i) the replacement of the 2022 Notes for the acquisition and construction of Water system improvements, and related improvements, and (ii) paying the costs of issuing the Notes. A draft of the Note Resolution in substantially final forms were before the Council and were part of the Resolution at the time of its adoption by the City Council. A copy of the Resolutions are on file in the office of the City Recorder in the Issuer where they may be examined during regular business hours for at least thirty (30) days from and after the date of publication of this notice. NOTICE IS HEREBY 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 Notes, or any provision made for the security and payment of the Notes 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. /s/ Chris Barr City Recorder

Notice of Special Accommodations (ADA)

In compliance with the Americans with Disabilities Act, individuals needing special accommodations during this meeting should notify Chris Barr, Lewiston City Offices at 435.258.2141 or cbarr@lewiston-ut.org prior to the meeting.

Notice of Electronic or Telephone Participation

NA

Meeting Information

Meeting Location

29 S Main St
Lewiston, UT 84320
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Contact Name

Chris Barr

Contact Email

cbarr@lewistonutah.gov

Contact Phone

(435)258-2141

Notice Posting Details

Notice Posted On

June 02, 2023 12:19 PM

Notice Last Edited On

June 02, 2023 12:19 PM

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