The Local Building Authority of Alpine School District
Notice Subject(s)
Public Education
Notice Type(s)
Notice,
Hearing
Event Start Date & Time
March 19, 2024 06:00 PM
Event End Date & Time
March 19, 2024 06:15 PM
Description/Agenda
NOTICE OF PUBLIC HEARING
INTENT TO ISSUE DEBT
LOCAL BUILDING AUTHORITY OF ALPINE SCHOOL DISTRICT, UTAH
PUBLIC NOTICE IS HEREBY GIVEN that the Board of Trustees (the 'Board') of the Local Building Authority of Alpine School District, Utah (the 'Authority') shall hold a public hearing (a) to receive input from the public with respect to a resolution of the Board that provides for the issuance of lease revenue bonds (the 'Bonds'), (b) to explain the reasons for the issuance of the Bonds, and (c) to receive input from the public with respect to the potential economic impact that the Project (defined below) will have on the private sector, pursuant to the Local Government Bonding Act, Title 11, Chapter 14, Utah Code Annotated 1953, as amended (the 'Utah Code') and Section 11-14a-1 of the Utah Code.
PURPOSE FOR ISSUING BONDS
The Authority intends to issue the Bonds for the purpose of (1) paying the costs incurred in connection with the issuance and sale of the Bonds and (2) financing all or a portion of the costs of the acquisition, construction, and improvement of a high school in or near Saratoga Springs (the 'Project').
TYPE AND MAXIMUM PRINCIPAL AMOUNT OF BONDS
The Bonds are to be issued and sold by the Authority as lease revenue bonds pursuant to an Indenture of Trust (the 'Indenture'), a Master Lease Agreement (the 'Lease') between the Authority and the Board of Education of Alpine School District, Utah County, Utah (the 'Board of Education'), a Ground Lease (the 'Ground Lease') between the Authority and the Board of Education and a Leasehold Deed of Trust, Assignment of Rents and Security Agreement (the 'Deed of Trust').
The Authority intends to issue the Bonds in an amount not to exceed $175,000,000 in one or more series.
PROJECT REJECTED BY VOTERS
Some or all of the proposed Bond proceeds will fund a project whose general obligation bond finance was rejected by the voters.
TIME, PLACE AND LOCATION OF PUBLIC HEARING
The Board will hold a public hearing during the Board of Education meeting that begins at 6:00 p.m. on March 19, 2024. The public hearing will be held at the regular meeting place of the Board of Education at 575 North 100 East, American Fork, Utah 84003. All members of the public are invited to attend and participate in the public hearing. Prior to the public hearing, written comments may be submitted to the Authority, to the attention of the Business Administrator, 575 North 100 East, American Fork, Utah 84003.
DATED March 5, 2024.
LOCAL BUILDING AUTHORITY OF ALPINE SCHOOL DISTRICT, UTAH and
BOARD OF EDUCATION OF ALPINE SCHOOL DISTRICT, UTAH
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 Jason Theler, 801-610-8449, 24 hours prior to the meeting.