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Front Page » May 10, 2011 » Legal Notices » Notice Of Public Hearing And Bonds To Be Issued
Published 1,074 days ago

Notice Of Public Hearing And Bonds To Be Issued


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 NOTICE IS HEREBY GIVEN that on April 20, 2011, the Board of Trustees
of the  Municipal Building Authority of Huntington City, Emery County,
Utah (the "Issuer"), adopted a resolution (the "Resolution") declaring
its intention to issue its Lease Revenue Bonds (the "Bonds") pursuant
to the provisions of the Utah Government Bonding Act, Title 11,
Chapter 14, Utah Code Annotated 1953, as amended and the Utah Local
Building Authority Act, Title 17D, Chapter 2, Utah Code Annotated
1953, as amended (collectively, the "Act") and to call a public
hearing to receive input from the public with respect to the issuance
of the Bonds and the potential economic impact on the private sector
that the facility funded by the Bonds may have. 

TIME, PLACE AND LOCATION OF PUBLIC HEARING 

 The Issuer shall hold a public hearing on May 18, 2011, at the hour
of 6:30 p.m. The location of the public hearing is the City Office, 20
South Main Street, Huntington, Utah. The purpose of the meeting is to
receive input from the public with respect to the issuance of the
Bonds and any potential economic impact that the Project financed in
whole or in part with the proceeds of the Bonds may have on the
private sector. All members of the public are invited to attend and
participate. 

PURPOSE FOR ISSUING BONDS 

 The Issuer intends to issue the Bonds for the purpose of (i)
financing a portion of the cost of constructing a fire station and
related facilities; and (ii) paying costs of issuing the Bonds. 

PARAMETERS OF THE BONDS 

 The Issuer intends to issue the Bonds in the principal amount of not
to exceed $600,000, to bear interest at a rate not to exceed 2.5% per
annum, to mature in not to more than 35 years from their date or
dates, and to be sold at a price not less than 100% of the total
principal amount thereof, plus accrued interest, if any, to the date
of delivery. The Bonds will specify that any installment of principal
on the Bonds which shall not be paid when due shall bear interest at
the rate of 18% per annum from the due date thereof until paid. 

 The Bonds are to be issued and sold by the Issuer pursuant to said
resolution of the Board of Trustees of the Authority duly adopted on
April 20, 2011, and pursuant to the provisions of the  Utah Local
Building Authority Act, Chapter 2 of Title 17D of the Utah Code
Annotated 1953, as amended (the "Act"), are to be issued for the
purpose of defraying the cost of acquiring, constructing, leasing and
furnishing a fire station and related facilities, and for paying all
costs incident thereto and to the authorization and issuance of the
Bonds. 

 A copy of the Resolution is on file in the office of the City
Recorder in Huntington, Utah, where it may be examined during regular
business hours of the City Recorder from 8:00 a.m. to 5:00 p.m.,
Monday through Friday, for a period of at least 30 days from and after
date of the last date of publication of this Notice. 

 NOTICE IS FURTHER GIVEN that pursuant to law 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 above-described Resolution of the Board of Trustees of the
Authority adopted on April 20, 2011, the Master Resolution (only as it
relates to the Bonds), 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 20th day of April, 2011

Elden Stephens 
City Recorder 
Published in the Emery County Progress May 3 and 10, 2011.
    
    

These legal notices, along with those from other fine Utah newspapers, can be viewed at www.utahlegals.com.


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