General Information

Government Type

Municipality

Entity

Woods Cross

Public Body

City Council

Notice Information

Add Notice to Calendar

Notice Title

NOTICE OF PUBLIC HEARING AND BONDS TO BE ISSUED

Notice Tags

Bonds

Notice Type(s)

Notice, Meeting, Hearing, Bond

Event Start Date & Time

June 3, 2025 06:30 PM

Description/Agenda

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 the City Council (the 'Council') of Woods Cross City, Utah (the 'Issuer'), declared its intention to issue Water Revenue Bonds, in one or more series (the 'Bonds') in the aggregate principal amount of not more than $11,000,000, the Bonds bearing interest at a maximum rate of six and one-half percent (6.50%) per annum, to mature in not more than twenty-one (21) years from their date or dates, and to be sold at a price not less than 98% of the total principal amount thereof. The estimated total cost of the Issuer for the proposed Bonds, if the Bonds are held until the maximum maturity, based on the maximum interest rate above, is not more than $20,190,220. Presently, the Issuer has no more than $5,375,000 in outstanding bonds secured by a pledge of water revenues. As Water Revenue Bonds, no property taxes will be pledged for repayment of the Bonds. NOTICE IS FURTHER GIVEN that the Issuer will hold 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 June 3, 2025 at 6:30 p.m., or as soon thereafter as feasible, at 1555 South 800 West, Woods Cross, Utah. All members of the public are invited to attend and participate in person or by videoconference https://zoom.us/j/9358074960. The Bonds will be issued pursuant to a Parameters Resolution and an Authorizing Resolution, which authorizing resolution includes a General Indenture and a Supplemental Indenture (collectively, the 'Authorizing Resolution') to be adopted authorizing and confirming the sale of the Bonds for the purpose to finance, in whole or in part, (i) water system improvements, including water well improvements, reservoir improvements, and waterline improvements and associated water system improvements, (ii) a debt service reserve fund, if desirable, and (iii) paying the costs of issuing the Bonds. A draft of the Authorizing Resolution in substantially final form has been presented to the Council. The Authorizing Resolution is to be adopted by the Council in such form and with such changes thereto as shall be approved by the Council upon the adoption thereof; 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 Parameters Resolution and Authorizing Resolution and information on the Issuer's outstanding bonds are on file in the office of the City Recorder where they may be examined during regular business hours between 7:30 a.m. and 5:30 p.m. Monday through Thursday and from 7:30 a.m. and 11:30 am on Friday for at least 30 days from and after the date of publication of this notice. 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 Parameters Resolution, the Authorizing Resolution, 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 the county in which he/she resides, and that after such time, other than referendum rights, no one shall have any cause of action to contest the regularity, formality or legality thereof for any reason. __________________________________________ Certificate of Posting The undersigned, duly appointed City Recorder, does hereby certify that the above notice was posted and disseminated according to the Utah State Code on this 20th day of May 2025 at the following locations: 1. Woods Cross City Hall Noticing Board 2. Public Notice Website: https://www.utah.gov/pmn/index.html DATED May 20, 2025. /s/ Annette Hanson City Recorder

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 City Recorder @ 801-677-1006 24 hours prior to the meeting.

Notice of Electronic or Telephone Participation

All members of the public are invited to attend and participate in person or by videoconference https://zoom.us/j/9358074960.

Meeting Information

Meeting Location

1555 S 800 W
Woods Cross, UT 84087
Show in Apple Maps Show in Google Maps

Contact Name

Bryce Haderlie

Contact Email

bhaderlie@woodscross.gov

Notice Posting Details

Notice Posted On

May 20, 2025 01:02 PM

Notice Last Edited On

May 20, 2025 01:02 PM

Subscribe by Email

Subscription options will send you alerts regarding future notices posted by this Body.