General Information

Government Type

Municipality

Entity

Manila

Public Body

Town Council

Notice Information

Add Notice to Calendar

Notice Title

Notice of Public Hearing

Notice Tags

Hearings

Notice Type(s)

Notice, Hearing

Event Start Date & Time

June 13, 2024 06:00 PM

Description/Agenda

NOTICE OF BONDS TO BE ISSUED PUBLIC HEARING NOTICE IS HEREBY GIVEN that the Town of Manila, Utah (the 'Issuer') has obtain a commitment from the Utah Permanent Community Impact Fund Council for a grant in the amount of $2.628,000 and a loan, bearing interest at the rate or rates of 1.00% per annum, in the amount of $877,000 for Sewer System Improvements, including new sewer lines and lagoon improvements, and related improvements, and pursuant to the provisions of the Utah Local Government Bonding Act, Title 11, Chapter 14, Utah Code Annotated 1953, as amended, that on May 9, 2024, the Town Council (the 'Council') of the Issuer adopted a resolution (the 'Resolution') in which it authorized the issuance and sale of the Issuer's Sewer Revenue Bonds, Series 2024 (herein, the 'Series 2024 Bonds') in an aggregate principal amount not to exceed $1,050,000, to bear interest at a rate or rates not to exceed 1.00% per annum, to mature in not more than thirty-five (35) years from their date or dates, and to be sold at a price not less than ninety-nine percent (99%) of the total principal amount thereof. If the Series 2024 Bonds are issued in the maximum amount for the maximum maturity, then the amount to be repaid will be approximately $1,244,880. However, assuming the bonds are issued in the approved amount of $877,000, bearing 1.00% interest for 30 years, then the amount to be repaid will be approximately $1,019,710. The Issuer currently has no more than $1,339,000 in bonds and outstanding obligations secured by the Issuer's Sewer revenue. As Sewer revenue bonds, no taxes will be pledged to secure the Series 2024 Bonds. NOTICE IS FURTHER GIVEN that the Issuer called a public hearing for the purpose of inviting public comment on the proposed issuance of the Series 2024 Bonds and the economic impact that the improvements proposed to be financed with the Series 2024 Bonds will have on the private sector. No taxes will be pledged to secure the Series 2024 Bonds. The public hearing will be held on June 13, 2024, at 6:00 p.m., or as soon thereafter as feasible, at the Town of Manila Offices located at 145 E. Highway 43 in Manila, Utah. The Series 2024 Bonds will be issued pursuant to the Resolution and a Final Bond Resolution to be adopted authorizing and confirming the sale of the Series 2024 Bonds (the 'Final Bond Resolution') for the purposes of (i) financing improvements to the Issuer's Sewer system, and related matters, and (ii) paying the costs of issuing the Series 2024 Bonds. A draft of the Final Bond Resolution in substantially final form was before the Council and was part of the Resolution at the time of the adoption of the Resolution by the Council (collectively, the 'Bond Resolutions'). The Final Bond Resolution is to be adopted by the Council in such form and with such changes thereto as shall be approved by the Council upon the adoption thereof; provided that the principal amount, the interest rate, maturity and discount of the Series 2024 Bonds will not exceed the maximums set forth above. Copies of the Bond Resolutions are on file in the office of the Clerk of the Issuer in Manila, Utah, where they may be examined during regular business hours, i.e., between 9:00 a.m. and 5:00 p.m. Monday through Thursday and 9 a.m. and 2 p.m. on Friday, for at least thirty (30) days from and after the date of publication of this notice. NOTICE IS FURTHER GIVEN that, for a period of thirty (30) days from and after the date of the publication of this notice, any person in interest shall have the right to contest the legality of the Bond Resolutions or the Series 2024 Bonds, or any provision made for the security and payment of the Series 2024 Bonds by filing a verified written complaint in the district court of their county of residence, and that after such 30-day period, other than referendum rights no one shall have any cause of- action to contest the regularity, formality or legality thereof for any reason. DATED: May 29, 2024. /s/ Jennifer Allphin Clerk

Notice of Special Accommodations (ADA)

In compliance with the American Disabilities Act, individuals needing special accommodations (including auxiliary communicative aids and services) during this meeting should notify Jennifer Allphin, Town Clerk, at 435-784-3143.

Notice of Electronic or Telephone Participation

NA

Meeting Information

Meeting Location

145 E HWY 43
Manila, UT 84046
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Contact Name

Kathi Knight

Contact Email

kathi.knight@manilautah.gov

Notice Posting Details

Notice Posted On

May 29, 2024 01:51 PM

Notice Last Edited On

May 29, 2024 01:51 PM

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