NOTICE IS HEREBY GIVEN pursuant to the provisions of the Utah Refunding Bond Act, Title 11, Chapter 27, Utah Code Annotated 1953, as amended, that on December 14, 2016, the City Council (the “Council”) of Santa Clara City, Utah (the “Issuer”), adopted a resolution (the “Resolution”) in which it authorized the issuance of the Issuer’s Electric Revenue Refunding Bonds, Series 2017 (or with such other series or title designation as may be determined by the Issuer) (the “Series 2017 Bonds”) in the aggregate principal amount of not more than Three Million Two Hundred Thousand Dollars ($3,200,000), to mature in not more than eleven (11) years from their date or dates, to be sold at a price not less than ninety-eight percent (98%) of the total principal amount thereof, and to bear interest at a maximum rate or rates of not to exceed five percent (5.0%) per annum.
The Series 2017 Bonds will be issued for the purpose of (a) refunding certain outstanding electric revenue bonds of the Issuer, (b) funding a debt service reserve fund, if necessary and (c) paying costs of issuance of the Series 2017 Bonds.
The Series 2017 Bonds are to be issued and sold by the Issuer pursuant to the Resolution, including as part of said Resolution, a form of a General Indenture of Trust, and a Supplemental Indenture of Trust (collectively, the “Indenture”), which were before the Council and attached to the Resolution in substantially final form at the time of adoption of the Resolution.
The Series 2017 Bonds are special limited obligations of the Issuer payable from the net revenues of the Issuer’s electric system.
A copy of the Resolution and the Indenture are on file in the office of the City Recorder, 2603 West Santa Clara Drive, Santa Clara, Utah, where they may be examined during regular business hours of the City Recorder from 8:00 a.m. to 5:00 p.m. Monday through Thursday, for a period of at least thirty (30) days from and after the date of publication of this notice.
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 Indenture (only as it relates to the Series 2017 Bonds), or the Series 2017 Bonds, or any provision made for the security and payment of the Series 2017 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 December 14, 2016