OCR Text |
Show NOTICE OF BONDS TO BE ISSUED . NOTICE IS HEREBY GIVEN pursuant to the provisions of Section 11-27-4, Utah Code Annotated 1953, as amended, that on November 15, 1989, the City Council (the "City Council") of Farmington City, Davis County, Utah (the "Issuer") adopted a resolution (the "November 15 Resolution") in which it authorized and approved the issuance of the Issuer's General Obligation Refunding Refun-ding Bonds, Series 1990A, in an aggregate ag-gregate principal amount of not to exceed ex-ceed Seventy-Five Thousand Dollars ($75,000) (the "Bonds"); to bear interest in-terest at a rate or rates of not to exceed ex-ceed eight percent (8) per annum, to mature in not more than ten (10) years from their date or dates, and to be sold to Zions First National Bank at a price not less than ninety-five percent (95) of the total principal amount of the Bonds. The Bonds, pursuant to the November 15 Resolution, are to be issued for the purpose of providing funds (i) to refund such of the Issuer's $550,000 General Obligation .Municipal Purpose Bonds, Series April 1, 1983, as will mature on January 1, 1990 and January 1, 1991 (the aeereeate nrincinal amount of such bonds so maturing being $75,000), which were issued for the purpose of financing a municipal complex to include municipal and policd offices, fire facilities and facilities for civic functions and for the payment of expenses reasonably incurred in connection therewith, and (ii) to pay expenses incurred in connection con-nection with the authorization and issuance is-suance of the Bonds. . The Bonds are to be issued and sold by the Issuer pursuant to the November 15 Resolution, including as part of said Resolution a draft of a Final Bond Resolution which was before the City Council and attached to the November 15 Resolution in substantially final form at the time of the adoption of the November 15 Resolution (collectively, the "Resolutions"). The Final Bond Resolution is to be adopted by the City Council in such form and with such changes thereto as shall be approved by the City Council upon the adoption thereof; provided that the principal amount, interest rate or rates and maturities of the Bonds will not exceed the maximums set forth for-th above. Copies of the Resolutions are on file in the office of the Issuer's City J Recorder at 130 North Main, Farmington, Farm-ington, Utah, where they may be examined ex-amined during regular business hours of the City Recorder from 8:00 a.m. to 5:00 p.m. 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 Resolutions 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, regulari-ty, formality, or legality thereof for any cause. . DATED this 29th day of. November, 1989. , DONA SCHARP ; City Recorder , Published in the Davis County Clipper on Nov. 29,1989 Issue No. 43 C-687 |