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, that the Governing Board (the “Board”) of the Ashley Valley Water and Sewer Improvement District, Uintah County, Utah (the “Issuer”) desires to authorize the issuance of the Issuer's Taxable Water Revenue Bonds, Series 2011 (the “Bonds”) in the aggregate principal amount of not to exceed One Million Three Hundred Thousand Dollars ($1,300,000) to bear no interest, 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.
NOTICE IS FURTHER GIVEN that the Issuer calls 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 August 16, 2011, at 12:00 noon or as soon thereafter as feasible, at the District Office located at 1344 West Highway 40, Vernal, Utah.
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) financing the costs of constructing water system improvements and related improving and (ii) paying the costs of issuance of the Bonds.
The Final Bond Resolution will be adopted 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, maturity and discount of the Bonds will not exceed the maximums set forth above.
A copy of the Final Bond Resolution is on file in the office of the Clerk of the Issuer at the Issuer’s offices in Vernal, Utah, where they may be examined during regular business hours of the Clerk 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 last date of publication of this notice.
NOTICE IS HEREBY 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 any person in interest shall have the right to contest the legality of the Final Bond Resolution, 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.
/s/ Nora Garcia
District ClerkClose This Window