General Information

Government Type

Municipality

Entity

Ephraim

Public Body

City Council

Notice Information

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Notice Title

Notice of Public Hearing and Intent to Issue Bond

Notice Tags

Bonds

Notice Type(s)

Notice, Hearing

Event Start Date & Time

November 7, 2024 06:00 PM

Description/Agenda

Ephraim City, Utah Notice of Public Hearing and Intent to Issue Sales and Excise Tax Revenue Bonds Public Notice is hereby given that on November 6, 2024, the City Council (the 'City Council') of Ephraim City, Utah (the 'City'), adopted a resolution (the 'Resolution'), calling for a public hearing to receive input from the public with respect to the issuance of its sales tax revenue bonds (the 'Bonds') to finance all or a portion of the cost of (a) (i) acquiring, constructing and improving capital improvement projects, including a new public works building and related facilities, and (ii) acquiring, constructing, improving and remodeling various other capital improvement program projects (collectively, the 'Project') and the potential economic impact that the Project will have on the private sector, pursuant to the Local Government Bonding Act, Title 11, Chapter 14, Utah Code Annotated 1953, as amended (the 'Act'). Purpose for Issuing Bonds The City intends to issue the Bonds for the purpose of (1) financing all or a portion of the costs of the Project, (2) funding any necessary reserves and contingencies in connection with the Bonds, and (3) paying the costs incurred in connection with the issuance and sale of the Bonds. Maximum Principal Amount of the Bonds The City intends to issue the Bonds in one or more series and in an aggregate principal amount not exceeding Six Million Five Hundred Thousand Dollars ($6,500,000) to finance the Project. Sales Taxes Proposed to be Pledged The City proposes to pledge to the payment of the Bonds all of the legally available revenues from the Local Sales and Use Taxes received by the City pursuant to Title 59, Chapter 12, Part 2, Utah Code (currently levied and collected pursuant to Chapter 3 of the Ephraim City Code). Time, Place and Location of Public Hearing The City will hold a public hearing during its City Council meeting which begins at 6:00 p.m. on December 4, 2024. The public hearing will be held either virtually, at the regular meeting place of the City Council, 5 South Main Street, in Ephraim, Utah, or any combination thereof, as determined by the Chair of the City Council. All members of the public are invited to attend and participate in the public hearing in the manner that will be described in the agenda for the meeting. Written comments may be submitted to the City, to the attention of the City Recorder, prior to the public hearing. Purpose for Hearing The purpose of the hearing is to receive input from the public with respect to the issuance of the Bonds and the potential economic impact that the Project will have on the private sector. Notice of Right to File Petition to Hold an Election Notice is Further Given that pursuant to Section 11-14-307(7), Utah Code, if within 30 calendar days of the publication of this notice on November 8, 2024, by posting (a) on the Utah Public Notice Website created under Section 63A-16-601 Utah Code Annotated 1953, as amended, (b) on the City's website and (c) in a public location within the City that is reasonably likely to be seen by residents of the City, a written petition requesting an election and signed by at least twenty percent (20%) of the registered voters of the City is filed with the City, then the City shall submit the question of whether or not to issue the Bonds to the voters of the City for their approval or rejection. If no written petition is filed or if fewer than 20% of the registered voters of the City sign a written petition, in either case, within 30 calendar days of the posting of this notice on November 8, 2024, the City may proceed to issue the Bonds without an election. City of Ephraim, Utah By /s/ Candice Maudsley City Recorder

Notice of Special Accommodations (ADA)

This facility is wheelchair accessible and handicap parking is available. Request for accommodations and interpretive services must be made three (3) working days prior to the meeting. Please contact the city office at 283-4631 for information or assistance.

Notice of Electronic or Telephone Participation

NA

Meeting Information

Meeting Location

5 South Main
Ephraim, UT 84627
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Contact Name

Candice Maudsley

Contact Email

candice.maudsley@ephraimcity.org

Contact Phone

(435)283-4631

Notice Posting Details

Notice Posted On

November 07, 2024 10:25 AM

Notice Last Edited On

November 22, 2024 04:29 PM

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