Notice Date & Time: 10/5/16 5:00 PM
NOTICE OF PUBLIC HEARING
OF BOX ELDER COUNTY, UTAH, AND
NOTICE OF BONDS TO BE ISSUED
NOTICE IS HEREBY GIVEN that the County Commission (the 'Commission') of Box Elder County, Utah (the 'County'), will meet on October 5, 2016, at the County Courthouse, 01 South Main Street in Brigham City, Utah, in the Commission chambers, at 5:00, p.m. or as soon thereafter as the matter may be heard, for the purpose of conducting a public hearing regarding a proposal by the County that pursuant to the provisions of Title 11, Chapter 17, Utah Code Annotated 1953, as amended (the 'Act'), the County issue its Industrial Revenue Bonds, Series 2016 (Promontory Point Project) to be issued from time to time as one or more series and with such other series or title designation(s) as may be determined by the Commission) (the 'Bonds') in the aggregate principal amount of not to exceed $35,000,000 and to mature in not more than thirty (30) years. The County intends to lend the proceeds of the Bonds to Promontory Point Resources, LLC, or any affiliate thereof (collectively, the 'Borrower'), to pay all or a portion of the costs of acquiring, constructing, and equipping of a landfill facility for the disposal of non-hazardous waste and related facilities to be located on approximately 1,981 acres of land at approximately 18900 West Promontory Road, near Promontory Point, Utah (the 'Project') which will be owned and used by the Borrower.
The County is authorized to issue the Bonds pursuant to the Act. The Bonds will be special limited obligations of the County payable solely from amounts provided by the Borrower. The Bonds and the interest thereon will not be a debt of the County or of the State of Utah (the 'State') or any political subdivision of the State, and neither the County nor the State or any political subdivision of the State will be liable thereon. In no event will the Bonds or the interest thereon be payable out of any funds or properties other than those of the County expressly pledged as security for the Bonds. The Bonds will not constitute an indebtedness of the County within the meaning of any constitutional or statutory debt limitation or restriction.
The public hearing is required by the Tax Reform Act of 1986. Interested individuals are invited to express their views, both orally and in writing, on the proposed issue of Bonds and the location and nature of the Project. Comments at the public hearing are invited. Written comments may be submitted to the County Clerk's office located at 01 South Main Street Ste. 10, Brigham City, Utah 84302, until 5:00 p.m. on September 20, 2016. Additional information may be obtained from the County at its office shown above or by calling (435) 734-3393. Subsequent to the hearing, the Commission will consider approving the issue of the Bonds to finance the Project.
A copy of the proceedings authorizing the issuance of the Bonds, including an authorizing resolution and a loan agreement, are on file in the office of the County Clerk of Box Elder County at 01 South Main Street Ste. 10, Brigham City, Utah 84302 where they may be examined during regular business hours of the County Clerk from 8:00 a.m. to 5:00 p.m. 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 above-referenced resolution, indenture, loan agreement, 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.
Date: September 7, 2016
/s/ Marla Young
County Clerk
