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Show The Payson Chronicle, May 14, 2003, Page 13 Public Notices NOTICE OF PUBLIC HEARLNG AND BONDS TO BE ISSUED PUBLIC NOTICE IS HEREBY GIVEN that on Wednesday, April 30, 2003, the City Council (the Council) of Payson City, Utah County, Utah (the Issuer) adopted a resolution (the Resolution) declaring its intention to issue Excise Tax Road Bonds, Series 2003 (the Series 2003 Bonds) pursuant to the Utah Municipal Bond Act, Title 11, Chapter 14, Utah Code Annotated 1953, as amended, and to call a public hearing to receive input from the public with respect to the issuance of the Series 2003 Bonds. TIME, PLACE AND LOCATION OF PUBLIC HEARLNG The Issuer shall hold a public hearing on May 21, 2003, at the hour of 7:00 p.m. The location of the public hearing is at the Payson City Offices on 439 W. Utah Avenue in Payson, Utah. The purpose of the meeting is to receive input from the public with respect to the issuance of the Series 2003 Bonds. All members of the public are invited to attend and participate PURPOSE FOR ISSUING SERIES 2003 BONDS The Issuer intends to issue the Series 2003 Bonds for the purpose of (i) financing, all or a portion of, the construction of roads and related improvements, (ii) funding a debt service reserve fund, and (iii) paying issuance expenses to be incurred in connection with the issuance and sale of the Series 2003 Bonds. PARAMETERS OF THE SERIES 2003 BONDS The Issuer intends to issue the Series 2003 Bonds in the principal amount of not to exceed Four Hundred Thousand Dollars ($400,000), to bear interest at a rate or rates of not to exceed four percent (4 ) per annum, to mature in not more than six years (6) years from their date or dates, and to be sold at a price not less than ninety-eigpercent (98) of the total principal amount thereof, plus accrued interest to the date of delivery. EXCISE TAXES PROPOSED TO BE ht PLEDGED The Issuer proposes to pledge all the Class C Road funds received by the Issuer pursuant to Title 72, Chapter 2, Sections 107 through 110, Utah Code Annotated 1953, as amended, for repayment of the Series 2003 Bonds. The Series 2003 Bonds are to be issued and sold by the Issuer pursuant to the Resolution, including as part of said Resolution a General Indenture and a draft of a Second Supplemental Indenture which were before the Council and attached to the Resolution in Interested in Owning Your Own Home? The Rural Housing Development Corporation in Provo is now acp Housing Program. cepting applications for the Mutual Mortgages are financed through the U. S. Dept, of Agriculture Rural Developmet and the Bank of American Fork. Self-Hel- -- Mortgage Payments (including taxes & Insurance) are approximately between $406 - $750 (depending on family size and Gross income). Ei Mutual B Self-Hel- p means building your own home. Minimum Annual Income required is approximately B $ 1 7,500. 20 Homes will be built in the PaysonSalem area starting in February 2003 and July 2003. B Homes are 3 & 4 Bedrooms, garage, unfinished an with stucco & stone exteriors, and basement. B 2-c- ar Families interested can call Brad or Karen 5 for information or Debbie at at (801) ext. USDA-RurDevelopment at (801) B 375-220- al 10. 377-557- 5, final form at the time of the adoption of the Resolution and said General Indenture and Second Supplemental Indenture are to be approved by the Council in such form and will such changes thereto as shall be approved by the Council upon the adoption of a final bond resolution; prov ided that the principal amount, interest rate or ates, maturity and discount of the Series 2003 Bonds will not exceed the maximums set forth above. Copies of the Resolution, the General Indenture and the Second Supplemental Indenture are on file in the office of the City Recorder in Payson, Utah, where they may be examined 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 last date of publication of this notice. The Resolution also repeals certain resolutions of the Issuer previously adopted with respect to the issuance of the Bonds. NOTICE IS HEREBY GIVEN that a period of thirty (30) days from and after the last date of publication of this notice is provided by law during which (i) any person in interest shall have the right to contest the legality of the General Indenture (as it relates to the Bonds), the Second Supplemental Indenture or the Series 2003 Bonds, or any provision made for the security and payment of the Series 2003 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, and (ii) registered voters within Payson City, Utah may sign a written petition requesting an election to authorize the issuance of the Series 2003 Bonds. If written petitions which have been signed by at least 20 of the registered voters of Payson City, Utah are y filed with the Issuer during said period, the Issuer shall be required to hold an election to obtain voter authorization prior to the issuance of the Series 2003 Bonds. If substantial 30-da- fewer than 20 of the registered voters of Payson City, Utah file a written petition during said period, the Issuer may proceed to issue the Series 2003 Bonds w ithout 30-da- y an election. Is Jeanette Curtis City Recorder in The Payson Chronicle on May 7 and May 14, 2003. Published i "Our Homeowners Insurance discounts Make a good value even better." State Farm Agent: Calvin K Blohm Insur Agcy Inc 720 N Main Payson, UT 801-465-92- 53 calvin.blohm.b7mtstatcfarm.com " SrtTB Statcfami.com State Farm Fire and Casualty Company Home Office: Bloomington, Illinois We remove old roofs, as required by the City. j |