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, that the Board of County Commissioners of Emery County, Utah, acting as the Governing Authority (the “Board”) of the Castle Valley Special Service District, Emery County, Utah (the “Issuer”) held a public hearing on March 19, 2019, as properly noticed, in which it expressed its desire to authorize the issuance of the Issuer’s General Obligation Bonds in the aggregate principal amount of not to exceed $848,000 (the “Bonds”) the Bonds to bear interest at a rate of not to exceed two and one-half percent (2.50%) per annum, to mature in not more than six (6) years from their date or dates, and to be sold at a price not less than 99% of the total principal amount thereof. 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 $914,071. Presently, the Issuer has no more than $6,359,650 in outstanding bonds secured by a pledge of the full faith and credit of the Issuer. The Utah Permanent Community Impact Fund Board has authorized a grant to the Issuer in the amount of $850,000 for the Project(s).
The Bonds will be issued pursuant to a Final Bond Resolution to be adopted authorizing and confirming the sale of the Bonds for the purposes of (i) improving, through purchase or construction or both, facilities for the collection and treatment of sewage; facilities used in connection with the acquisition, treatment, storage, transportation, and supply of water for domestic, industrial, secondary and other purposes; drainage and storm sewer facilities, including curbs and gutters; and transportation facilities consisting of roads, sidewalks and related bridges and viaducts; together with all necessary land, rights-of-way, equipment and furnishings therefor, and including such legal, engineering, and fiscal agent expenses reasonably incurred in connection with the acquisition of such facilities in and for the Issuer, and (ii) paying the cost of issuance of the Bonds. Ad valorem (real) property taxes will be pledged to secure the Bonds.
The Final Bond Resolution was adopted by the Board in such form and with such changes thereto as approved by the Board; provided that the principal amount, interest rate, maturity and discount of the Bonds will not exceed the maximums set forth above.
A Copy of the Resolution and information on the Issuer’s outstanding bonds are on file in the office of the Clerk of the Issuer at the Issuer’s office at 86 South 100 East in Castle Dale, Utah and in the office of the County Clerk/Auditor at 75 East Main in Castle Dale, Utah, where they may be examined during regular business hours of the Issuer’s Clerk and the County Clerk/Auditor from 8:30 a.m. to 5:00 p.m. Monday through Friday for a period of at least thirty (30) days from and after the publication of this Notice.
NOTICE IS HEREBY GIVEN that a period of thirty (30) days from and after the publication hereof is provided by law during which any person in interest shall have the right to contest the legality of the Final Bond Resolutions, or 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 no one shall have any cause of action to contest the regularity, formality or legality thereof for any cause whatsoever.
Dated: March 19, 2019
/s/ Brenda Tuttle
County Clerk/Auditor
Published in the ETV Newspaper on March 20, 2019.