General Information

Government Type

Public School

Entity

Murray City School District

Public Body

Murray City School Board

Notice Information

Add Notice to Calendar

Notice Title

Notice of Bonds to be Issued

Notice Tags

Schools

Notice Type(s)

Notice, Bond

Event Start Date & Time

March 14, 2025 02:00 PM

Event End Date & Time

April 14, 2025 02:00 PM

Description/Agenda

NOTICE OF BONDS TO BE ISSUED NOTICE IS HEREBY GIVEN pursuant to the provisions of the Local Government Bonding Act, Title 11, Chapter 14, Utah Code Annotated 1953, as amended, that on March 13, 2025, the Board of Education (the 'Board') of Murray City School District, Utah (the 'Issuer') adopted a resolution (the 'Resolution') in which it authorized the issuance of its General Obligation Bonds (Utah School District Bond Guaranty Program) (to be issued in one or more series and from time to time, with any other title or series designation) (the 'Bonds'). PURPOSE FOR ISSUING THE BONDS Pursuant to the Resolution, the Bonds are to be issued for the purpose of (a) financing all or a portion of the costs of constructing, furnishing and equipping new school facilities and improving existing facilities and (b) paying related expenses. PARAMETERS OF THE BONDS The Board intends to issue the Bonds in the aggregate principal amount of not to exceed One Hundred Twenty-Five Million Dollars ($125,000,000), to mature in not more than twenty-one (21) years from issuance, to be sold at a price not less than ninety-eight percent (98%) of the total principal amount thereof, and bearing interest at a rate or rates not to exceed six percent (6.0%) per annum. The Bonds are to be issued and sold by the Issuer pursuant to the Resolution and a Bond Resolution to be adopted by the Board, with such final terms and provisions as may be deemed appropriate by authorized officers of the Board, provided that said final terms shall not exceed the maximums set forth above. SECURITY PLEDGED FOR THE BONDS The Bonds are general obligations of the Board secured by the full faith and credit and taxing power of the Board. OUTSTANDING BONDS Other than the proposed Bonds, the Board currently has $15,585,000 of general obligation bonds currently outstanding. OTHER OUTSTANDING BONDS OF THE ISSUER Additional information regarding the Board's outstanding bonds or obligations may be found in the Board's financial report (the 'Financial Report') at: http://secure.utah.gov/auditor-search/. For additional information, including any information more recent than as of the date of the Financial Report, please contact Richard Reese, Business Administrator at (801) 264-7415. TOTAL ESTIMATED COST Based on the Board's current plan of finance and a current estimate of interest rates, the total principal and interest cost of the Bonds if held until maturity is $191,693,622. A copy of the Resolution is on file in the office of the Business Administrator at the Board's offices located at 5102 Commerce Drive, Murray, Utah, where they may be examined during regular business hours from 7:30 a.m. to 4:15 p.m., Monday through Friday, for a period of at least thirty (30) days from and after the date of publication of this notice. NOTICE IS FURTHER GIVEN that a period of thirty (30) days from and after the date of the publication of this notice is provided by law during which 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 payment of the Bonds, and that after such time, no one shall have any cause of action to contest the regularity, formality or legality thereof for any cause whatsoever. DATED this March 13, 2025. /s/ Richard Reese Business Administrator

Notice of Special Accommodations (ADA)

Special accommodations for the hearing or visually impaired will be made upon a request of the Murray School District (264-7400). We would appreciate notification two working days prior to the meeting.

Notice of Electronic or Telephone Participation

NA

Meeting Information

Meeting Location

5102 S Commerce Drive
Murray, UT 84107
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Contact Name

Kristen Davis

Contact Email

kdavis@murrayschools.org

Notice Posting Details

Notice Posted On

March 14, 2025 02:07 PM

Notice Last Edited On

March 14, 2025 02:07 PM

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