General Information

Government Type

Public School

Entity

Duchesne County School District

Public Body

Board of Education

Notice Information

Add Notice to Calendar

Notice Title

Notice of Bonds to be Issued

Notice Tags

Bonds

Notice Type(s)

Notice, Bond

Event Start Date & Time

February 10, 2025 12:00 PM

Description/Agenda

NOTICE OF BONDS TO BE ISSUED MUNICIPAL BUILDING AUTHORITY OF DUCHESNE SCHOOL DISTRICT NOTICE IS HEREBY GIVEN pursuant to the provisions of 17D-2-502 and 17D-2-601 Utah Code Annotated 1953, as amended, that on February 6, 2025, the Board of Trustees (the 'Board') of the Municipal Building Authority of Duchesne School District, Utah (the 'Authority'), adopted a resolution (the 'Resolution') authorizing the issuance of the Authority's lease revenue bonds (the 'Bonds') in the aggregate principal amount of not to exceed $26,000,000, to bear interest at a rate or rates of not to exceed 6.00% per annum, to mature in not more than 21 years from their date or dates and to be sold at a discount from par, expressed as a percentage of principal amount, of not to exceed 2.00%. Pursuant to the Resolution, the Bonds are to be issued for the purpose of raising money for (A) paying a portion of the costs of the acquisition, construction and improvement of a new elementary school to replace Altamont Elementary (the 'Project'), and (B) paying expenses incurred in connection with the issuance and sale of the Bonds. The bonds are payable from annually-renewable lease payments from the Board of Education of Duchesne County School District, Utah (the 'Board of Education') and will be secured by a mortgage on the Project. The estimated total cost to the Authority for the portion of the proposed Bonds used to finance the Project, if the Bonds are held until maturity and based on estimated interest rates currently in effect and the principal amount of Bonds the Authority expects to issue, is $30,714,457. The Bonds are to be issued and sold by the Authority pursuant to the Resolution, including as attachments to such Resolution forms of a Supplemental Indenture of Trust (the 'Indenture'), an Amendment to Master Lease Agreement (the 'Lease') between the Authority and the Board of Education, a Ground Lease (the 'Ground Lease') between the Authority and the Board of Education and an Amendment to Leasehold Deed of Trust, Assignment of Rents and Security Agreement (the 'Deed of Trust'). Said Indenture, Lease, Ground Lease and Deed of Trust are to be executed and delivered by the Authority in such form and with such changes as shall be approved by the Authority together with other related bond documents; provided that the principal amount, interest rate or rates, maturity and discount of the Bonds will not exceed the maximums set forth above. Copies of the Resolution and the forms of the Indenture, the Lease, the Ground Lease, the Deed of Trust, and certain other documents pertaining to the issuance and sale of the Bonds are on file in the office of the Authority, which is the office of the Secretary of the Authority at 1010 East 200 North, Roosevelt, Utah where they may be examined during regular business hours of the Authority from 8:00 a.m. to 5:00 p.m., Monday through Friday of each week (except holidays). Such documents shall be available for inspection from and after the date of the publication of this notice until at least thirty (30) days thereafter. NOTICE IS FURTHER GIVEN that 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 or the Bonds, or any provision made for the security and payments of such Bonds and after such time, no one shall have any cause of action to contest the regularity, formality, or legality thereof for any cause whatsoever. NOTICE IS FURTHER GIVEN that pursuant to Section 17D-2-502, Utah Code Annotated 1953, as amended, if within 30 calendar days of the publication of this notice, a written petition requesting an election and signed by at least twenty percent (20%) of the active voters of Duchesne County School District is filed with the Board, then the Board shall submit the question of whether or not to issue the Bonds to the voters of Duchesne County School District for their approval or rejection. DATED February 6, 2025. MUNICIPAL BUILDING AUTHORITY OF DUCHESNE 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

1010 East 200 North
Roosevelt, UT 84066
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Contact Name

Dee Miles

Contact Email

dmiles@dcsd.org

Contact Phone

4357254500

Notice Posting Details

Notice Posted On

February 10, 2025 04:46 PM

Notice Last Edited On

February 10, 2025 04:46 PM

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