General Information

Government Type

Public School

Entity

Duchesne County School District

Public Body

Board of Education

Notice Information

Add Notice to Calendar

Notice Title

Intent and Hearing Notice

Notice Tags

Bonds

Notice Type(s)

Notice, Meeting, Hearing, Bond

Event Start Date & Time

February 6, 2025 07:00 PM

Description/Agenda

INTENT TO DEBT AND PUBLIC HEARING PUBLIC NOTICE IS HEREBY GIVEN that the Municipal Building Authority of Duchesne School District, Utah (the 'Authority') intends to issue lease revenue bonds (the 'Bonds') in an estimated aggregate principal amount of $26,000,000 and to mature in not more than 21 years from their date or dates. The Board of Trustees of the Authority (the 'Board') and the Board of Education of Duchesne County School District, Utah (the 'Lessee' or 'Board of Education') will consider resolutions providing for the issuance of the Bonds at meetings that begin at approximately 7:00 p.m. on February 6, 2025, at 155 W Main St, Duchesne, UT 84021. The Authority intends to issue the Bonds for the purpose of (1) paying the costs incurred in connection with the issuance and sale of the Bonds and (2) financing all or a portion of the costs of the acquisition, construction and improvement of a new elementary school to replace Altamont Elementary (the 'Project'). The estimated annual amount that the Authority will be required to pay in principal and interest on the Bonds is $2,479,344. The Bonds are expected to be issued and sold by the Authority as lease revenue bonds pursuant to an Indenture of Trust (the 'Indenture'), a Master Lease Agreement (the 'Lease') between the Authority and the Lessee and a Ground Lease (the 'Ground Lease') between the Authority and the Lessee. The expected annual amount of lease payments that the Lessee will pay under the Lease is $2,479,344. This proposed lease revenue bond commits money from future property tax and income tax revenue allocated to the school district. Additionally, a lease revenue bond generally has a higher interest cost than a voter-approved general obligation bond. The Board of Education and the Board will hold public hearings to (a) explain the reasons for the issuance of the Bonds, (b) provide members of the public an opportunity to present testimony on the proposed issuance of the Bonds and (c) receive input from the public with respect to the issuance of the Bonds and the Project during meetings that begin at approximately 7:00 p.m. on February 6, 2025. The public hearings will be held at Duchesne High School, 155 W Main St, Duchesne, UT 84021. All members of the public are invited to attend and participate in the public hearings. Prior to the public hearings, written comments may be submitted to the Authority, to the attention of the Business Administrator, 1010 E. 200 N., Roosevelt, Utah 84066. DATED January 7, 2025. MUNICIPAL BUILDING AUTHORITY OF DUCHESNE SCHOOL DISTRICT, UTAH and BOARD OF EDUCATION OF DUCHESNE COUNTY SCHOOL DISTRICT, UTAH

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 the District Office at (435) 738-1240.

Notice of Electronic or Telephone Participation

Board Members may participate in meetings electronically when necessary.

Meeting Information

Meeting Location

155 W Main
Duchesne, UT 84021
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Contact Name

Dee Miles

Contact Email

dmiles@dcsd.org

Contact Phone

4357254500

Notice Posting Details

Notice Posted On

January 23, 2025 02:35 PM

Notice Last Edited On

January 23, 2025 02:35 PM

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