LOCAL BUILDING AUTHORITY OF WEBER SCHOOL DISTRICT, UTAH
NOTICE OF PUBLIC HEARING AND INTENT TO ISSUE LEASE REVENUE BONDS
NOTICE IS HEREBY GIVEN pursuant to the provisions of Section 1114318, Utah Code Annotated 1953, as amended, that on February 7, 2024, the Board of Trustees (the “Board”) of the Local Building Authority of Weber School District, Utah (the “Authority”), adopted a resolution (the “Resolution”) calling a public hearing to receive input from the public with respect to the issuance of the Authority’s lease revenue bonds (the “Bonds”) in the aggregate principal amount of not to exceed $60,000,000 to finance the below defined Project and the potential economic impact that the Project will have on the private sector.
Pursuant to the Resolution, the Bonds are to be issued for the purpose of raising money for (a) financing certain costs of (i) acquiring, constructing, equipping and furnishing the Roosevelt Elementary replacement in Washington Terrace, Utah, and (ii) a portion of the new elementary to be located in West Haven, Utah (collectively, the “Project”), (b) providing reserves, if necessary, (c) paying capitalized interest, and (d) paying expenses incurred in connection with the issuance and sale of the Bonds.
The Authority proposes to pledge to the payment of the Bonds various rental payments made to the Authority by the Board of Education of Weber School District, Utah, pursuant to a Master Lease Agreement relating to the Project. No taxes will be pledged to the repayment of the Bonds.
NOTICE IS FURTHER GIVEN that the Authority will hold a public hearing during its Board of Trustees meeting which begins at approximately 6:00 p.m. on May 1, 2024 (as postponed from March 6, 2024, and from April 10, 2024). The public hearing will be held at the regular meeting place of the Board of Trustees, 5320 Adams Avenue Parkway, in Ogden, Utah. All members of the public are invited to participate in the public hearing. Written comments may be submitted to the Authority, to the attention of the Secretary and Treasurer, prior to the public hearing. The purpose of the hearing is to receive input from the public with respect to the issuance of the Bonds and the potential economic impact that the Project will have on the private sector.
DATED this 8th day of April, 2024.
LOCAL BUILDING AUTHORITY OF WEBER SCHOOL DISTRICT, UTAH
By /s/ Robert D. Petersen
Secretary and Treasurer
