Notice Of Public Hearing
AND BONDS TO BE ISSUED
PUBLIC NOTICE IS HEREBY GIVEN that on March 8, 2011, the Mayor and
Town Council of Emery Town (the "Issuer"), adopted a resolution (the
"Resolution") declaring its intention to issue its Water Revenue Bonds
(the "Bonds") pursuant to the Utah Local Government Bonding Act, Title
11, Chapter 14, Utah Code Annotated 1953, as amended and to call a
public hearing to receive input from the public with respect to the
issuance of the Bonds.
TIME, PLACE AND LOCATION OF PUBLIC HEARING
The Issuer shall hold a public hearing on April 12, 2011, at the hour
of 6:00 p.m. The location of the public hearing is in the Emery Town
Hall, 65 North Center, Emery, 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 to the private sector from the
construction of the Project to be funded by the Bonds. 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 all or a portion of the cost of construction of
improvements to the Town's culinary water system, including the
construction and installation of a new diversion pipeline and a study
to identify an additional culinary water source for the Town, together
with all related work and improvements; 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 $300,000, 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 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.
NOTICE IS FURTHER GIVEN that a period of 30 days from and after the
last date of 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.
A copy of the Resolution is on file in the office of the Town Clerk
in Emery, Utah, where it may be examined during regular business hours
of the Town Clerk from 3:30 to 5:30 p.m., Tuesday and Wednesday.
DATED this 8th day of March, 2011.
/s/ Susan Cole
Published in the Emery County Progress March 22 and 29, 2011.
These legal notices, along with those from other fine Utah newspapers, can be viewed at www.utahlegals.com