NOTICE IS HEREBY GIVEN pursuant to the provisions of the Utah Local Building Authority Act, Title 17D, Chapter 2, Utah Code Annotated 1953, as amended, that on February 25, 2025, the Governing Board (the “Governing Board”) of the Municipal Building Authority of Daggett County, Utah (the “Issuer”) adopted a resolution (the “Resolution”) in which it authorized the issuance by the Issuer of its Lease Revenue Bonds, in one or more series (the “Bonds”) in the aggregate principal amount of not to exceed $1,900,000, to bear interest at the rate or rates not to exceed 0.5% per annum, to mature in not more than 35 years from their date or dates, and to be sold at a price not less than ninety-nine percent (99%) of the total principal amount thereof, plus accrued interest to the date of delivery. The Issuer does not have any other bonds pledging the same security that will be pledged for the Bonds. If the Bonds are issued in their maximum amount, at the maximum interest rate and for the maximum term, the amount to be repaid would be approximately $2,071,492. However, the Issuer has obtained an authorization to purchase the Bonds from the Utah Permanent Community Impact Fund Board, in the amount of $1,447,000 over 30 payments, in which case the amount to be repaid on the Bonds would be $1,561,745. The Issuer has also obtained a grant authorization in the amount of $5,786,000 for the Project (defined below) that will not need to be repaid. The Bonds will be issued pursuant to the Resolution, and one or more Authorizing Resolutions and one or more Master Resolutions (collectively, the “Master Resolution”), to be adopted authorizing and confirming the sale of the Bonds for the purpose of (i) financing the construction of a health and social services center and related improvements (the “Project”), and (ii) paying issuance expenses to be incurred in connection with the issuance and sale of the Bonds. NOTICE IS FURTHER GIVEN that the Issuer calls a public hearing for March 25, 2025, at 9:00 a.m., or as soon thereafter as feasible, in the County Administration Building located at 95 North 1st West, Manila, Utah to receive input from the public with respect to the issuance of the Bonds and the potential economic impact that the facilities and related improvements to be paid for in whole or in part with the Bonds will have on the private sector. The maximum amount, interest rate, maturity, and discount on the Bonds will be as set forth above. As lease revenue obligations, no taxes are proposed to be pledged for repayment of the Bonds. And the Bonds will be secured by an annual appropriation lease between the Issuer and the County. A draft of the Master Resolution in substantially final form was before the Governing Board and was part of the Resolution (collectively, the “Borrowing Resolutions”) at the time of its adoption by the Governing Board. The Master Resolution will be adopted by the Governing Board in such form and with such changes thereto as shall be approved by the Governing Board upon the adoption thereof; provided that the principal amount, interest rate, maturity and discount of the Bonds will not exceed the maximums set forth above.
Copies of the Resolution and Master Resolution are on file in the office of the Secretary of the Issuer where they may be examined during regular business hours of the Secretary from 8:00 a.m. to 5:00 p.m. Monday through Friday for a period of at least thirty (30) days from and after the date of publication of this notice. IS FURTHER GIVEN that, for a period of thirty (30) days from and after the date of the publication of this notice (the “30-day Period”), (i) any person in interest shall have the right to contest the legality of the Resolution, Master Resolution, the Bonds, or any provision made for the security and payment of the Bonds, and that after the 30-day Period, no one shall have any cause of action to contest the regularity, formality or legality thereof for any cause for any reason, and (ii) registered voters within Daggett County may sign a written petition requesting an election to authorize the issuance of the Bonds. If written petitions which have been signed by at least 20% of the registered voters of Daggett County are filed with the Issuer during the 30-day Period, the Issuer shall be required to hold an election to obtain voter authorization prior to the issuance of the Bonds. If fewer than 20% of the registered voters of Daggett County file a written petition during the 30-day Period, then absent a referendum the Issuer may proceed to issue the Bonds without an election. DATED this February 25, 2025.