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Front Page » January 28, 2014 » Legal Notices » NOTICE OF PUBLIC HEARING AND BONDS TO BE ISSUED MUNICIPAL...
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NOTICE OF PUBLIC HEARING AND BONDS TO BE ISSUED MUNICIPAL BUILDING AUTHORITY OF CARBON COUNTY, UTAH


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NOTICE OF PUBLIC HEARING AND BONDS TO BE ISSUED
MUNICIPAL BUILDING AUTHORITY OF CARBON COUNTY, UTAH

	NOTICE IS HEREBY GIVEN pursuant to the provisions of the Utah Local
Building Authority Act, Title 17D, Chapter 2, Utah Code Annotated
1953, as amended, that on January 21, 2014, the Governing Board (the
"Governing Board") of the Municipal Building Authority of Carbon
County, Utah (the "Issuer") adopted a resolution (the "Resolution") in
which it authorized the issuance by the Issuer of its Lease Revenue
Bonds, in one or more series (the "Bonds") in the aggregate principal
amount of not to exceed $7,500,000, to bear interest at the rate or
rates not to exceed 1.5% per annum, to mature in not more than 20
years from their date or dates, and to be sold at a price not less
than ninety-nine percent (99%) of the total principal amount thereof
plus accrued interest to the date of delivery, if any. 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 $8,685,819. Presently, the Issuer has no more than $15,067,580 in
outstanding bonds secured by a pledge of lease revenues. The Utah
Permanent Community Impact Fund Board has authorized a grant to the
Issuer in the amount of $9,750,000 for the Project.

	The Bonds will be issued pursuant to the Resolution, and one or more
Authorizing Resolutions and one or more Master Resolutions
(collectively, the "Final Bond Resolutions"), to be adopted
authorizing and confirming the sale of the Bonds for the purpose of
(i) financing, in part, the costs of construction of county road
improvements, including the paving of the Nine Mile Canyon Roadway
from Soldier Creek Mine to the end of that roadway and related
improvements, and (ii) paying the costs of issuing the Bonds.

	NOTICE IS FURTHER GIVEN that the Issuer calls a public hearing for
February 19, 2014 at 4:30 p.m., or as soon thereafter as feasible, in
the Commission Room of the Courthouse Building, 120 East Main Street
in Price, Utah. The purpose of the public hearing is to receive public
input regarding the proposed issuance of the Bonds and the potential
economic impact that the improvement, facility, or property for which
the Bonds pay all or a part of the cost will have on the private
sector. The maximum amount, interest rate, maturity, and discount on
the Bonds will be as set forth above. As lease revenue obligations, no
taxes are proposed to be pledged for repayment of the Bonds.

	A draft of the Final Bond Resolutions in substantially final form was
before the Governing Board and was part of the Resolution
(collectively, the "Borrowing Resolutions") at the time of its
adoption by the Governing Board. The Final Bond Resolutions will be
adopted by the Governing Board in such form and with such changes
thereto as shall be approved by the Governing Board upon the adoption
thereof; provided that the principal amount, interest rate or rates,
maturity and discount of the Bonds will not exceed the maximums set
forth above.

	Copies of the Borrowing Resolutions and information on the Issuer's
outstanding bonds are on file in the office of the Secretary of the
Municipal Building Authority of Carbon County, Utah, in the County
offices in Price, Utah, where they may be examined during regular
business hours from 8:00 a.m. to 5:00 p.m. Monday through Friday for a
period of at least 30 days from and after the last date of publication
of this notice. 

	NOTICE IS FURTHER GIVEN that a period of thirty (30) days from and
after the last date of the publication of this notice is provided by
law during which (1) any person in interest shall have the right to
contest the legality of the Borrowing Resolutions, 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/she resides, and that after such time, other than referendum
rights, no one shall have any cause of action to contest the
regularity, formality or legality thereof for any cause whatsoever,
and (2) registered voters within the Issuer may sign a written
petition requesting an election to authorize the issuance of the
Bonds.  If written petitions which have been signed by at least 20% of
the registered voters of the Issuer are filed with the Issuer during
that 30-day period, the Issuer will be required to hold an election to
obtain voter authorization prior to the issuance of the Bonds.  If
fewer than 20% of the registered voters of the Issuer file a written
petition during that 30-day period, the Issuer may proceed to issue
the Bonds without an election.  Registered voters may also exercise
their right to a referendum election. 

DATED: January 21, 2014. 	

/s/ Seth Oveson
Secretary
Published in the Sun Advocate January 28 and February 4, 2014.
    
    

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


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