General Information

Government Type

Special Service District

Entity

North Fork Special Service District

Public Body

North Fork Special Service District

Notice Information

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Notice Title

LOCAL BUILDING AUTHORITY OF NORTH FORK SPECIAL SERVICE DISTRICT, UTAH NOTICE OF INTENT TO ISSUE LEASE REVENUE BONDS AND PUBLIC HEARING

Notice Tags

Bonds

Notice Type(s)

Notice, Meeting, Hearing, Bond

Event Start Date & Time

January 9, 2025 07:00 PM

Description/Agenda

LOCAL BUILDING AUTHORITY OF NORTH FORK SPECIAL SERVICE DISTRICT, UTAH NOTICE OF INTENT TO ISSUE LEASE REVENUE BONDS AND PUBLIC HEARING PUBLIC NOTICE IS HEREBY GIVEN that on December 12, 2024, the Board of Trustees (the 'Board of Trustees') of the Local Building Authority of North Fork Special Service District, Utah (the 'Authority'), adopted a resolution (the 'Resolution') expressing its intent to issue up to $17,500,000 of lease revenue bonds (the 'Bonds') and calling a public hearing to provide members of the public desiring to be heard an opportunity to present testimony on the proposed issuance of the Bonds, pursuant to the Local Building Authority Act, Title 17D, Chapter 2 (the 'Act') and the Local Government Bonding Act, Title 11, Chapter 14, each of the Utah Code Annotated 1953, as amended (the 'Code'). The Authority intends to issue the Bonds for the purpose of (1) financing certain costs of acquiring, constructing and improving (i) to the extent necessary, land, and (ii) a new fire station and a new administration building and related facilities in Utah County, Utah (collectively, the 'Project'), (2) providing capitalized interest to pay all or a portion of the interest accruing on the Bonds during the acquisition, construction and improvement of the Project and (3) paying the costs incurred in connection with the issuance and sale of the Bonds. The Authority intends to issue the Bonds in an aggregate principal amount not exceeding $17,500,000, which will mature in not more than 26 years from their date or dates. Under current market conditions and with the Authority's current plan of finance, the Authority currently expects that average annual amount the Authority will pay in principal and interest on the Bonds is approximately $1,068,960 and the maximum annual amount the Authority will pay in principal and interest on the Bonds is approximately $1,071,000. Pursuant to the Act, the Authority proposes to pledge to the payment of the Bonds various rental payments made to the Authority by the North Fork Special Service District, Utah (the 'District'), pursuant to a Master Lease Agreement, between the Authority and the District. Under current market conditions and with the Authority's current plan of finance, the Authority currently expects that average annual amount the District will pay in lease payments is approximately $1,068,960 and the maximum annual amount the District will pay in lease payments is approximately $1,071,000. The Authority will hold a public hearing during its Board of Trustees meeting which begins at approximately 7:00 p.m. on Thursday, January 9, 2025. The public hearing will be held via Zoom. All members of the public are invited to participate in the public hearing. Written comments may be submitted to the Authority, to the attention of the Secretary and Treasurer, prior to the public hearing. The purpose of the hearing is to provide members of the public desiring to be heard an opportunity to present testimony on the proposed issuance of the Bonds. The Authority currently anticipates taking action on the proposal to issue the Bonds following the public hearing at the Board of Trustees meeting which begins at approximately 7:00 p.m. on Thursday, January 9, 2025, which meeting will be held via Zoom. DATED this 12th day of December, 2024. LOCAL BUILDING AUTHORITY OF NORTH FORK SPECIAL SERVICE DISTRICT, UTAH By /s/ Emily Johnson Secretary and Treasurer

Notice of Special Accommodations (ADA)

In compliance with the Americans with Disabilities Act, individuals needing special accommodations (including auxiliary communicative aids and services) during this meeting should notify Emily Johnson at 801-225-7263 admin@nfssd.org

Notice of Electronic or Telephone Participation

Meetings will be held via electronic means only pursuant to Utah Code 52-4-207(5)(e). All members of the Board will be participating electronically, members of the public may ask NFSSD to provide a physical anchor location by submitting a written request 12 hours before the scheduled meeting time. Meeting links will be posted at the Utah Public Notice Website, you may also contact the District offices by email admin@NFSSD.org or call 801.225.7263 or 801.404.4734 for electronic participation instructions prior to the meeting. Emily Johnson is inviting you to a scheduled Zoom meeting. Join Zoom Meeting https://us02web.zoom.us/j/82098428936?pwd=zKdKxCs6eRGO1kvI2PM4j7ria6JI4L.1 Meeting ID: 820 9842 8936 Passcode: 665833

Meeting Information

Meeting Location

8838 N Alpine Loop
RR 3 Box B1
Provo, UT 84604
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Contact Name

Emily Johnson

Contact Email

admin@nfssd.org

Contact Phone

(801)225-7263

Notice Posting Details

Notice Posted On

December 19, 2024 11:05 AM

Notice Last Edited On

December 19, 2024 11:05 AM

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