NOTICE OF INTENT TO ISSUE A LEASE REVENUE BOND AND PUBLIC HEARING
Notice Tags
Mosquitoes, Bonds
Notice Type(s)
Notice
Event Start Date & Time
May 24, 2024 08:00 AM
Event End Date & Time
August 30, 2024 05:00 PM
Description/Agenda
NOTICE OF INTENT TO ISSUE A LEASE REVENUE BOND
AND PUBLIC HEARING
PUBLIC NOTICE IS HEREBY GIVEN pursuant to the provisions of the Local Building Authority Act, Title 17D, Chapter 2, Utah Code Annotated 1953, as amended, and the Local Government Bonding Act, Title 11, Chapter 14, Utah Code, as amended (together, the 'Act'), that the Governing Board (the 'Governing Board') of the Local Building Authority of the Salt Lake City Mosquito Abatement District, Utah (the 'Authority') intends to issue its Lease Revenue Bonds, Series 2024 (the 'Bonds') and will hold a public hearing to provide members of the public desiring to be heard an opportunity to present testimony on the proposed issuance of the Bonds in accordance with Sections 11-14-103 and 17D-2-501 of the Utah Code Annotated 1953, as amended. Said public hearing will be held on June 20, 2024, at 6:00 p.m., at 2215 North 2200 West, Salt Lake City, Utah. The purpose of the Bonds is to provide funds to (a) finance the acquisition, construction, equipping and furnishing of a helicopter hanger, a helicopter fuel station, a laboratory, screened adult bioassay cages, larval bioassay vaults, and all related improvements, and the purchase of a helicopter with equipment to apply mosquito control products (collectively, the 'Project'); (b) fund any required debt service reserve fund; and (c) pay costs associated with the issuance of the Bonds. The length of term of the Bonds shall not exceed 21 years. The average annual amount that the Authority will be required to pay in principal and interest on the Bonds is $1,555,000. The intended lessee of the facility to be constructed using proceeds from the Bonds is the Salt Lake City Mosquito Abatement District, Utah (the 'District') and the expected annual amount of lease payments that the District will pay is $1,555,000. The Authority anticipates taking action on the proposal to issue the Bonds directly following the public hearing at the same meeting listed above.
DATED this May 23, 2024.
/s/ Ary Faraji
Secretary-Treasurer
Notice of Special Accommodations (ADA)
People with disabilities may make requests for reasonable accommodation no later than 48 hours in advance in order to attend this Board Meeting. Accommodations may include alternate formats, interpreters, and other auxiliary aids. This is an accessible facility. For questions, requests, or additional information, please contact Ary Faraji at (801) 355-9221; TDD (801) 535-6021.
Notice of Electronic or Telephone Participation
For questions, requests, or additional information, please contact Ary Faraji at 801-355-9221; TDD 535-6021.