OCR Text |
Show NOTICE OF 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 August 16, 1978, the City Council of Parowan, Iron County, Utah, accepted the offer of The Continental Bank and Trust Company of Salt Lake City, Utah to purchase $260,000 General Obligation Water and Recreation Bonds, dated August 1, 1978, at a price of $260,000 plus a premium of $.00. Said Bonds, pursuant to a resolution of the City Council of said Municipality adopted on August 16, 1978, are to be issued for the purpose of defraying all or a part of the cost of (a) enlarging the main transmission water line from the spring area in Parowan Canyon to the water distribution system and (b) enclosing, repairing and improving the Municipal swimming pool and related facilities and completing and improving the Pavilion in the City Park and other recreational facilities, together with costs incurred in connection with the issuance of these Bonds. The Bonds bear interest at the following rates and mature on August 1 of each of the years and in the amounts as follows: Bond No. Maturity Amount Coupon 1 1980 $ 5,000 7.0 pet. 2 1981 $ 5,000 7.0 pet. 3 1982 $5,000 7.0 pet 4 1983 $ 5,000 7.0 pet 5 1984 $ 5,000 7.0 pet 6-7 1985 $10,000 6.0 pet 8-9 1986 $10,000 6.0 pet 10-11 1987 $10,000 6.0 pet 12-13 1988 $10,000 6.0 pet 14-15 1989 $10,000 6.0 pet 16-17 1990 $10,000 6.0 pet 18-19 1991 $10,000 6.0 pet 20-22 1992 $15,000 6.0 pet 23-25 1993 $15,000 6.0 pet 26-28 1994 $15,000 6.0 pet 29-31 1995 $15,000 6.5 Det 32-34 19 $15,000 6.5 pet 35-36 1997 $10,000 6.5 pet 37-38 1998 $10,000 6.5 pet 39-40 1999 $10,000 6.5 pet 41-43 2000 $15,000 6.5 pet 44-46 2001 $15,000 6.5 pet 47-49 2002 $15,000 6.5 pet 50-52 2003 $15,000 6.5 pet A copy of the resolution adopted on August 11, 1978, by the City Council authorizing the issuance and confirming the sale of the above-described $260,000 General Obligation Water and Recreation Bonds, dated August 1, 1978, is on file in the office of the City Recorder of said Municipality in Parowan, Utah, where it may be examined during regular business hours of the Recorder from 8:00 a.m. to 5 . 00 p.m. 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 above-described Resolution of the City Council adopted on August 16, 1978, of the $260,000 General Obligation Water and Recreation Bonds of said Municipality authorized thereby, or any provision made for the security and payment of such Bonds, and that after such time, no one shall have any cuase of action to contest the regularity, formality or legality thereof for any cause whatsoever. DATED this 16th day of August, 1978. Dennis A. Lowder City Recorder |