Notice Of Public Hearing And Bonds To Be Issued
NOTICE IS HEREBY GIVEN pursuant to the provisions of the Local
Government Bonding Act, Title 11, Chapter 14, Utah Code Annotated
1953, as amended, that on March 1, 2011, the Board of Trustees (the
"Board") of the Price River Water Improvement District, Carbon County,
Utah (the "Issuer"), adopted a resolution (the "Resolution") in which
it authorized the issuance of the Issuer's Taxable Subordinate Water
and Sewer Revenue Bonds, Series 2011 (the "Series 2011 Bonds") (to be
issued in one or more series, from time to time, and with such series
or title designation(s) as may be determined by the Issuer) and called
a public hearing to receive input from the public with respect to the
issuance of the Series 2011 Bonds and any potential economic impact
that the improvements to be financed with the proceeds of the Series
2011 Bonds may have on the private sector.
TIME, PLACE AND LOCATION OF PUBLIC HEARING
The Issuer shall hold a public hearing on March 22, 2011, at the hour
of 7:00 p.m. at the District Service Center located at 265 South
Fairgrounds Road, Price, Utah. The purpose of the hearing is to
receive input from the public with respect to the issuance of the
Series 2011 Bonds and any potential economic impact that the
improvements to be financed with the proceeds of the Series 2011 Bonds
may have on the private sector. All members of the public are invited
to attend and participate.
PURPOSE FOR ISSUING THE SERIES 2011 BONDS
The Series 2011 Bonds will be issued for the purpose of financing the
construction of (i) sewer system improvements, including the
replacement of two anaerobic digester covers, two digester mixers, and
transfer pump, installation of gas piping, and waste-gas burner,
extensions of sewer collection system and related improvements, and
(ii) enhanced culinary water treatment system improvements to achieve
acceptable disinfection byproduct levels, adding fire hydrants,
looping portions of the distribution system and conducting a
distribution system hydraulic analysis (collectively, the "Project").
PARAMETERS OF THE SERIES 2011 BONDS
The Issuer intends to issue the Series 2011 Bonds in one or more
series, from time to time, in the aggregate principal amount of not to
exceed Four Million Dollars ($4,000,000), which Series 2011 Bonds
shall bear no interest, shall mature in not more than twenty-five (25)
years from their date or dates, and shall be sold at not less than one
hundred percent (100%) of the total principal amount thereof.
The Series 2011 Bonds are to be issued and sold by the Issuer
pursuant to the Resolution, including as part of said Resolution, a
Final Bond Resolution which was before the Board and attached to the
Resolution at the time of the adoption of the Resolution, and said
Final Bond Resolution is to be adopted and executed by the Board, in
such form and with such changes thereto as shall be approved by the
Board upon the adoption thereof; provided that the principal amount,
interest rate or rates, maturity, and discount of the Series 2011
Bonds will not exceed the maximums set forth above.
A copy of the Resolution and the Final Bond Resolution are on file in
the office of the Secretary of Price River Water Improvement District
in Price, Utah, where they may be examined during regular business
hours of the Secretary 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 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 Final Bond Resolution, or the
Series 2011 Bonds, or any provision made for the security and payment
of the Series 2011 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 March 1, 2011.
Published in the Sun Advocate March 3 and 10, 2011.
These legal notices, along with those from other fine Utah newspapers, can be viewed at www.utahlegals.com