Notice of Intent to Obtain a Loan
General Information
- Government Type
- Municipality
- Entity
- Clearfield
- Public Body
- City Council
Notice Information
- Notice Title
- Notice of Intent to Obtain a Loan
- Notice Tags
- Other
- Notice Type(s)
- Notice
- Event Start Date & Time
- August 16, 2024 09:58 AM
- Description/Agenda
- NOTICE OF INTENT TO OBTAIN A LOAN Notice Is Hereby Given pursuant to the provisions of Section 11-14-316, Utah Code Annotated 1953, as amended, that on August 13, 2024, the City Council (the 'Council') of Clearfield City, Utah (the 'City'), a municipal corporation and political subdivision of the State of Utah, adopted a resolution (the 'Resolution') in which it authorized and approved its intent to obtain and execute a loan (the 'Loan') from the State Infrastructure Bank in an amount of not to exceed $11,000,000 to bear interest at a rate not to exceed 4.00% and to be repaid not more than 30 years from the Loan closing. The Loan will be subject to such terms and conditions as contained in a loan agreement or contract. Pursuant to the Resolution, the Loan will be used for the purpose of financing all or a portion of the cost of the acquisition, construction and improvement of its water and sewer systems (the 'Project') and paying the costs incurred in connection with obtaining the Loan. The repayment of the Loan will come from legally available water and sewer revenues as and if received by the City. The City has no other obligations outstanding similar to the Loan. The Loan, if approved and repaid as planned, will cost approximately $12,451,000. A copy of the Resolution is on file in the office of the City Recorder at City Hall, 55 South State Street, Clearfield, Utah, where the Resolution may be examined during regular business hours of the City Recorder from 8:00 a.m. to 5:00 p.m. The Resolution shall be so available for inspection for a period of at least thirty (30) days from and after the date of the publication of this notice. Notice Is Further Given that pursuant to law 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 Resolution of the City or the Loan authorized or any provisions made for the security and payment of the Loan. After such time, no one shall have any cause of action to contest the regularity, formality or legality of the Resolution, the Loan or the provisions for its security or payment. Dated 16th Day Of August, 2024. Clearfield City Corporation, Utah
- Notice of Special Accommodations (ADA)
- The City of Clearfield, in accordance with the € Americans with Disabilities Act €™ provides accommodations and auxiliary communicative aids and services for all those citizens needing assistance. Persons requesting these accommodations for City sponsored public meetings, service programs or events should call Nancy Dean at 525-2714, giving her 48-hour notice.
- Notice of Electronic or Telephone Participation
- NA
Meeting Information
- Meeting Location
-
55 South State Street
Clearfield, UT 84015
Show in Apple Maps Show in Google Maps - Contact Name
- Nancy Dean
- Contact Email
- nancy.dean@clearfieldcity.org
- Contact Phone
- (801) 525-2700
Notice Posting Details
- Notice Posted On
- August 16, 2024 10:01 AM
- Notice Last Edited On
- August 16, 2024 10:01 AM
Board/Committee Contacts
| Member | Phone | |
|---|---|---|
| Mark Shepherd | mark.shepherd@clearfieldcity.org | N/A |
| Nike Peterson | nike.peterson@clearfieldcity.org | N/A |
| Karece Thompson | karece.thompson@clearfieldcity.org | N/A |
| Dakota Wurth | dakota.wurth@clearfieldcity.org | N/A |
| Megan Ratchford | megan.ratchford@clearfieldcity.org | N/A |
| Danielle King | danielle.king@clearfieldcityut.gov | N/A |
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