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Front Page » October 1, 2013 » Legal Notices » NOTICE OF PUBLIC HEARING AND BONDS TO BE ISSUED
Published 294 days ago

NOTICE OF PUBLIC HEARING AND BONDS TO BE ISSUED


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NOTICE OF PUBLIC HEARING
AND BONDS TO BE ISSUED

	PUBLIC NOTICE IS HEREBY GIVEN that on September 17, 2013, the Board
of Trustees of Price River Water Improvement District (the "Issuer"),
adopted a resolution (the "Resolution") declaring its intention to
issue its Parity Water and Sewer 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 October 15, 2013, at the
hour of 7:00 p.m.  The location of the public hearing is at 265 South
Fairgrounds Road, Price, 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 to construct culinary water
system improvements,  including improvements to upgrade the Spring
Glen water distribution system, together with related improvements to
the District's culinary water system; and (ii) paying costs of issuing
the Bonds.

OUTSTANDING BONDS SECURED BY THE SAME REVENUE

	The Issuer currently has outstanding bonds secured by the pledge of
water and sewer system revenues, namely: the 1989 Water Revenue Bond
sold to the Utah Board of Water Resources in the original principal
amount of $561,000; the 1996 Water Revenue Bond sold to the Utah Board
of Water Resources in the original principal amount of $1,500,000; its
1989 Water Revenue Bond sold to the Utah Board of Water Resources in
the original principal amount of $200,000; the 2000 Sewer Revenue Bond
sold to the Utah Permanent Community Impact Fund Board in the original
principal amount of $1,000,000; the 2003 Water Revenue Bond sold to
the Utah Drinking Water Board in the original principal amount of
$1,040,000; the 2004 Sewer Revenue Bond sold to the Utah Permanent
Community Impact Fund Board in the original principal amount of
$700,000; the 2009 Water and Sewer Revenue Bond sold to the Utah
Permanent Community Impact Fund Board in the original principal amount
of $225,000; the 2012 Water Revenue Bond sold to the Utah Permanent
Community Impact Fund Board in the original principal amount of
$2,500,000; the 2012 Sewer Revenue Bond sold to the Utah Permanent
Community Impact Fund Board in the original principal amount of
$950,000; the 2013 Water Revenue Bond sold to the Utah Permanent
Community Impact Fund Board in the original principal amount of
$550,000; and the 2013 Water and Sewer Revenue Refunding Bond sold to
SunTrust Equipment Finance & Leasing Corp. in the original principal
amount of $3,861,000.

ESTIMATED TOTAL COST OF THE BONDS

	The estimated total cost to the Issuer for the proposed Bonds is
$700,000.  The estimated cost of interest on the Bonds is $204,734.69.

PARAMETERS OF THE BONDS

	The Issuer intends to issue the Bonds in the principal amount of not
to exceed $1,200,000, to bear interest at a rate not to exceed 3.0%
per annum, to mature in not to more than 25 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
and/or interest 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 Clerk in
Price, Utah, where it may be examined during regular business hours of
the Clerk from 8:00 a.m. to 5:00 p.m., Monday through Friday.

	DATED this 17th day of September, 2013.

/s/    Jaci Adams                           
Clerk
Published in the Sun Advocate September 24 and October 1, 2013.
    
    

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


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