General Information

Government Type

County

Entity

Utah County

Public Body

Board of Commissioners of Utah County

Notice Information

Add Notice to Calendar

Notice Title

Notice of Bonds to be Issued and of Public Hearing on June 19, 2024

Notice Tags

County Government

Notice Type(s)

Notice, Meeting, Hearing

Event Start Date & Time

June 19, 2024 02:00 PM

Description/Agenda

NOTICE OF BONDS TO BE ISSUED AND OF PUBLIC HEARING BOARD OF COUNTY COMMISSIONERS OF UTAH COUNTY, UTAH WITH RESPECT TO NOT TO EXCEED $7,000,000 INDUSTRIAL FACILITIES AND DEVELOPMENT REVENUE BONDS SERIES 2024 NOTICE IS HEREBY GIVEN pursuant to the provisions of the Utah Industrial Facilities and Development Act, Title 11, Chapter 17, Utah Code Annotated 1953, as amended, that on May 29, 2024, the Board of County Commissioners (the 'Board') of Utah County, Utah (the 'County') adopted a resolution (the 'Resolution') in which it authorized the issuance of the County's Industrial Development Revenue Bonds, Series 2024 (with such other designation as may be determined by the County) (the 'Bonds') in the aggregate principal amount of not to exceed $7,000,000 and to mature in not more than 30 years from the date of issuance. Pursuant to the Resolution, the County proposes to lend the proceeds of the Bonds to the Boys & Girls Clubs of Utah County, a Utah non-profit corporation (the 'Borrower') for the purpose of financing all or a portion of demolishing an existing facility and constructing, equipping and furnishing a new clubhouse to support youth services, and related improvements (the 'Project') located at approximately 1060 East 150 North, Provo, Utah. The Project will be owned and operated by the Borrower. At the discretion of the Borrower all, a part, or none of the Bond proceeds may be allocated to Project costs. NOTICE IS FURTHER GIVEN that, in connection with the County's proposed issuance of the Bonds, the Board will conduct a public hearing on Wednesday, June 19, 2024 at 2:00 p.m., or as soon thereafter as may be heard, at 51 South University Avenue, in Provo, Utah. The public hearing is required by Section 147(f) of the Internal Revenue Code of 1986, will be open to the public and anyone having an interest in the plan of finance, issuance of the Bonds and the location and nature of the Project will be given an opportunity to be heard. Written comments may also be submitted to the County at its Board office located at 51 South University Avenue, in Provo, Utah, until 1:00 p.m. on June 19, 2024. Additional information may be obtained from the County at its office shown above or by calling (801) 851-8000. After the public hearing has been concluded, the Board will consider passage of a final bond resolution authorizing the plan of finance and issuance of the Bonds. The County is authorized to issue the Bonds pursuant to the Act. The Bonds will be special limited obligations of the County payable solely from amounts provided by the Borrower, including monies and securities held from time to time pursuant to a loan or other financing agreement and related security documents pursuant to which the Bonds are to be issued. The Bonds and the interest thereon will not be a debt of the County or of the State of Utah or any political subdivision, and neither the County nor the State of Utah or any political subdivision will be liable thereon, and in no event will the Bonds or the interest thereon be payable out of any funds or properties other than those of the Borrower. The Bonds will not constitute indebtedness within the meaning of any constitutional or statutory debt limitation or restriction. The Bonds are proposed to be issued and sold by the County pursuant to the Resolution and the final bond resolution to be adopted by the County. A copy of the Resolution is on file in the office of the County Clerk of the County at 51 South University Avenue, Provo, Utah, where it may be examined during regular business hours of the County from 8:00 a.m. to 5:00 p.m., Monday through Friday, for a period of at least thirty (30) days from and after the date of publication of this notice. NOTICE IS FURTHER 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 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. Date: May 31, 2024 /s/Aaron R. Davidson County Clerk

Notice of Special Accommodations (ADA)

NOTICE OF SPECIAL ACCOMMODATION DURING PUBLIC MEETINGS In compliance with the Americans with Disabilities Act, individuals needing special accommodations (including auxiliary communicative aids and services) during this meeting should notify Jolynn Clegg 801-851-8113. Handicap parking is available, as well as a level entrance to the building. Interpretation services are available with prior notice for the hearing disabled.

Notice of Electronic or Telephone Participation

Electronic/telephone participation is available for board members.

Meeting Information

Meeting Location

100 East Center Street Room 1400
Provo, UT 84606
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Contact Name

Utah County Clerks Office

Contact Email

commissionclerk@utahcounty.gov

Notice Posting Details

Notice Posted On

May 31, 2024 01:17 PM

Notice Last Edited On

May 31, 2024 01:17 PM

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