General Information

Government Type

County

Entity

Salt Lake County

Public Body

Council Public Notice

Notice Information

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Notice Title

NOTICE OF BONDS TO BE ISSUED AND OF PUBLIC HEARING COUNTY COUNCIL OF SALT LAKE COUNTY, UTAH

Notice Tags

Bonds

Notice Type(s)

Notice

Event Start Date & Time

June 5, 2024 02:00 PM

Description/Agenda

NOTICE OF BONDS TO BE ISSUED AND OF PUBLIC HEARING COUNTY COUNCIL OF SALT LAKE COUNTY, UTAH WITH RESPECT TO NOT TO EXCEED $85,000,000 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 June 4, 2024, the County Council (the 'Council') of Salt Lake 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 $85,000,000 and to mature in not more than 16 years from the date of issuance. Pursuant to the Resolution, the County proposes to lend the proceeds of the Bonds to Rowland Hall - St. Mark's School, a Utah non-profit corporation (the 'Borrower'). The School expects to use proceeds of the Bonds, as part of a plan of finance, to finance, refinance, and reimburse the costs of acquiring, constructing, improving, renovating, repairing, equipping, and furnishing certain educational facilities of the Borrower, including, approximately 154,000 square feet of facilities expected to comprise a new middle and upper school, learning commons, kitchen and dining area, performing arts center, theatre and athletic complex, and miscellaneous capital expenditures (collectively, the 'Project'). The Project will be owned and operated by the Borrower and will be located at the School's Steiner Campus with addresses of 1481 Sunnyside Avenue and 720 Guardsman Way, Salt Lake City, Utah 84108 and approximate geographic boundaries of E 500 S to the North, Guardsman Way to the East, E Sunnyside Avenue to the South and 1300 E to the West (the 'Steiner Campus'). At the discretion of the School all, a part, or none of the Bond proceeds may be allocated to Project costs at the Steiner Campus location. NOTICE IS FURTHER GIVEN that, in connection with the County's proposed issuance of the Bonds, the Council will conduct a public hearing on Tuesday, June 25, 2024, at 2:00 p.m., or as soon thereafter as may be heard, at 2001 South State Street, Suite N1-100, Council Chambers, in Salt Lake City, 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 Council office located at 2001 South State Street, Suite N2-200, in Salt Lake City, Utah, until 1:00 p.m. on June 25, 2024. Additional information may be obtained from the County at its office shown above or by calling (385) 468-7500. After the public hearing has been concluded, the Council 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 2001 South State Street, Suite 2-700, Salt Lake City, 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 posting 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: June 4, 2024 /s/Lannie Chapman County Clerk

Notice of Special Accommodations (ADA)

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Notice of Electronic or Telephone Participation

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Meeting Information

Meeting Location

2001 South State Street
Suite N1-110
Salt Lake City, UT 84114
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Contact Name

Catalina Davison

Contact Email

cdavison@slco.org

Contact Phone

(385)468-7500

Notice Posting Details

Notice Posted On

June 05, 2024 01:27 PM

Notice Last Edited On

June 05, 2024 01:27 PM

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