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Show NOTICE OP BONDS TO BE ISSUED NOTICE IS HEREBY GIVEN pursuant to the provisions of Section 11-14-21, Utah Code Annotated, 1953, as amended, that on October 6, 1982, the Town Council of the Town of Escalante, Garfield County, State of Utah, accepted the conditional offer of the United States Department of Agriculture, Farmers Home Administration and the offer of the Division of Water Resources of the State of Utah, to purchase $280,000.00 in Water Revenue Bonds, Series A and B, of said Municipality at the price of $280,000.00. If less than $280,000.00 in Water Revenue Bonds is paid, the Town of Escalante will be obligated to repay only the amount of principal actually paid. The Town of Escalante also accepted the offer of Bank of Iron County, Escalante Branch, Escalante, Utah, to purchase a Bond Anticipation Note in the amount of $140,000.00 in anticipation of the issuance of the Series A $140,000.00 Water Revenue Bonds. Said Bonds and Note, pursuant to a Resolution of the Town Council of the Town of Escalante, Garfield County, Utah, adopted on October 6, 1982, are to be issued for the purpose of paying all -or part of the cost of constructing a new pipeline distribution system and in other ways improving the existing water system of said Municipality and for such legal, engineering and fiscal agent expenses as are reasonably incurred in connection with the acquisiton and construction of said im provements and with the authorization and issuance of such bonds as -' may be properly payable T from the proceeds thereof. The Series A Bonds bear interest at 10.265 percent per annum and ' shall be due and payable in not to exceed forty (40) years from the date of said Bonds in accordance with an Amortization Schedule to be delivered to the Bondholder by the Issuer at the time of delivery of said Bonds or at such time as the Amortization Schedule is determined in accordance with rules and ' regulations of Farmers Home Administration. The Series B Bonds bear no interest and mature on January 1st of each of the years and in the amounts as follows: YEAR AMOUNT 1984 $7,400.00 1985 $7,800.00 1986 $7,800.00 1987 $7,800.00 1988 $7,800.00 1989 $7,800.00 1990 $7,800.00 1991 $7,800.00 ; 1992 $7,800.00 : 1993 $7,800.00 1994 $7,800.00 1995 $7,800.00 1996 $7,800.00 1997 $7,800.00 1998 $7,800.00 1999 $7,800.00 2000 $7,800.00 2001 $7i800.00 The Bond Anticipation Note is dated November 15, 1982, bearing interest at a rate of nine and three-fourths (9.75 percent) per cent per annum and shall mature on November 15, 1985, except that the Town of Escalante may at any time retire said Bond Anticipation Note as to both principal and interest from the income and revenues derived by the Issuer from its water system the improvements of which are to be undertaken, with the proceeds of this Note and the proceeds of the sale of the definitive Series A and Series B Water Revenue Bonds or both such Note and Bonds, The purchase price will be $140,000.00, together with accrued Interest from, date of delivery thereof. The Water Revenue Bonds shall be payable out of net revenues from operation of the Town's water system as set forth in the Resolution of October 6, 1982. A copy of the Resolution adopted on October 6, 1982, by the Town Council of the Town of Escalante authorizing the issuance and confirming the sale of the above .described $280,000.00 Water Revenue Bonds and $140,000.00 Series A Bond Anticipation Note is on file in the office of the Town Clerk of said Town Council at the home of Phyllis Alvey, Town Clerk, Escalante, Utah, where It may be examined during regular business hours of the Clerk from 8:00 O'Clock A.M. to 5:00 O'Clock P.M. said Resolution shall be so available for Inspection for a period of at least thirty (30) days from and after date of the 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 in which any person in interest shall have the right to contest the legality of the above-described Resolution of the Town Council of the Town of Escalante, Garfield County, Utah, adopted on October 6, 1982, or the , $$280,000.00 Water Reven e Bonds, and the $140,01 00 Series A Bond Anticipation Note of said Municipality authorized thereby, or any provision made for the security and payment of such Bonds and Note and that after such time, no one shall have any cause of action to contest the regularity, formality or legality therof for any cause whatsoever. DATED this 6th day of October, 1982. s Phyllis Alvey Town Clerk Published in the Garfield County News October 7, 1982. Panguitch Committee Receives Tree Award Members of Panguitch City's Beautificatlon Committee were notified recently that the city had been awarded the Utah Association of Nurserymen's award of $400 worth of trees. Citizens recognized for their beautificatton efforts Include Lee Ann Moser who received plaqueind Bruce Fullmer, Norma Davies, Frank Houston, Dale Baldwin, Golda Julander, Rod Parry, Jon Torgerson, and John Seaman who received certificates of merit. Organizations and businesses recognized include the Panguitch LDS Stake, Zions Bank and the DUP Museum. The trees will be planted along Main Street and in the Panguitch City Park according to committee spokesperson Elaine Baldwin, who noted how hard everyone had worked to clean up their property and many who had cleaned not only their own but other's as well. |