Notice Date & Time: 8/12/15 12:00 AM
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 (the 'Act') that on August 11, 2015, the Board of Trustees (the 'Board') of the Weber-Box Elder Conservation District, Utah (the 'Issuer'), adopted a resolution (the 'Resolution') in which it authorized the issuance of the Issuer's Water Revenue Bonds in an amount of not more than $1,900,000 aggregate principal amount (the 'Bonds'), to bear interest at a rate or rates of not to exceed three percent (3.0%) per annum, to mature in not more than thirty-five (35) 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, thereon. 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, is approximately $3,071,105. However, the Issuer anticipates that the Bonds will not be issued in an amount in excess of $1,700,000 bearing interest at the rate of three percent (3.0%) per annum, to be repaid over 30 years, in which event the amount to be repaid will be approximately $2,626,970. Presently, the Issuer has no more than $5,705,044 in outstanding bonds 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 September 15, 2015, at 3:00 p.m. or as soon thereafter as feasible, at 471 West 2nd Street, Ogden, Utah 84404.
The Bonds, pursuant to the Resolution, a Master Resolution adopted on May 23, 2002, (the 'Original Master Resolution') as previously supplemented and amended, under which Zions First National Bank, Corporate Trust is the Trustee, and a Supplemental Resolution (the 'Supplemental Resolution' and collectively with the Original Master Resolution, the 'Master Resolution') to be adopted authorizing the sale of the Bonds, are to be issued for the purpose of (i) constructing water system improvements and related improvements and (ii) paying issuance expenses.
The Bonds are to be issued and sold by the Issuer pursuant to the Resolution, including as part of said Resolution the form of the Master Resolution which were before the Board and attached to the Resolution at the time of the adoption of the Resolution and said Master Resolution shall contain such terms and provisions as shall be approved by the Issuer at the time of adoption of the Master Resolution, and said Master Resolution is to be approved by the Board of Trustees with such changes as shall be approved by them; provided that the principal amount, interest rate or rates, maturity and discount of the Bonds will not exceed the maximums herein.
A copy of the Resolution and the Master Resolution and information on the Issuer's outstanding bonds are on file in the office of the District Secretary in the Issuer offices in Ogden, Utah, where they may be examined during regular business hours of the District Secretary from 8:00 a.m. to 5:00 p.m., Monday through Friday, 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 Resolution, the Master Resolution, 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 or she resides 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 August 11, 2015. /s/ Tamera Martinson
District Secretary
