NOTICE OF PUBLIC HEARING AND BONDS TO BE ISSUED
NOTICE IS HEREBY GIVEN pursuant to the provisions of the Utah Local Government Bonding Act, Title 11, Chapter 14, Utah Code Annotated 1953, as amended, that on March 13, 2025, the Administrative Control Board (the 'Board') of the Angell Springs Special Service District, Washington County, Utah (the 'Issuer') adopted a resolution (the 'Resolution') in which it authorized the issuance and sale of the Issuer's Taxable Water Revenue Bonds, in one or more series (the 'Bonds'), in an aggregate principal amount not to exceed $1,200,000, bearing no interest (0%) per annum, to mature in not more than forty (40) years from their date or dates, and to be sold at a price not less than 99% of the total principal amount thereof, plus accrued interest, if any. The estimated total cost to the Issuer for the proposed Bonds, if the Bonds are held until the maximum maturity, based on the maximum interest rate above, if any, is $1,200,000. However, the Issuer has obtained a loan commitment in the amount of $1,010,000 bearing no interest to be repaid over 40 years, in which case the amount to be repaid will be $1,010,000. The Issuer has obtained a grant commitment in the amount of $435,859 for the Project from the State of Utah acting through its Department of Environmental Quality, Drinking Water Board (the 'DWB'), none of which will need to be repaid. Presently, the Issuer has $15,000 in debt secured by a pledge of water revenues.
NOTICE IS FURTHER GIVEN that the Issuer called a public hearing for the purpose of inviting public comment on the proposed issuance of the Bonds and the economic impact that the improvements proposed to be financed with the Bonds will have on the private sector. The public hearing will be held on April 17, 2025, at 6:00 p.m., or as soon thereafter as feasible, at the Angell Springs Special Service District offices located at 100 N. Hidden Valley Rd., Leeds, Utah 84746. As Taxable Water Revenue Bonds secured by water revenues, no property taxes will be pledged for repayment of the Bonds.
The Bonds will be issued pursuant to the Resolution and a Final Bond Resolution (the 'Final Bond Resolution') of the Board of the Issuer, authorizing and confirming the sale of the Bonds for the purposes to (i) finance the acquisition and construction of water system improvements, and related improvements, and (ii) pay the costs of issuing the Bonds.
A draft of the Final Bond Resolution in substantially final form was before the Board and was part of the Resolution at the time of the adoption of the Resolution by the Board (collectively, the 'Bond Resolutions'). The Final Bond Resolution is to be adopted by the Board in such form and with such changes thereto as shall be approved by the Board upon the adoption thereof; provided that the principal amount, the interest rate or rates, maturity, and discount of the Bonds will not exceed the maximums set forth above.
Copies of the Bond Resolutions are on file in the office of the Clerk of the Issuer in the Issuer's offices in Leeds, Utah, where they may be examined during regular business hours, i.e., between from 9:00 a.m. to 5:00 p.m. Monday through Friday, posted at the Leeds post office at 545 N. Main Street, Leeds UT 84746 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, any person in interest shall have the right to contest the legality of the Bond Resolutions or the Bonds, or any provision made for the security and payment of the Bonds by filing a verified written complaint in the district court of their county of residence, and that after such 30-day period, no one shall have any cause of action to contest the regularity, formality or legality thereof for any reason.
March 13, 2025 Angell Springs Special Service District
/s/ Jean Wojtyla
Clerk
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 Jean Wojtyla at 435-256-6297
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