NOTICE IS HEREBY GIVEN pursuant to the provisions of the Local Government Bonding Act, Title 11, Chapter 14, Utah Code Annotated 1953, as amended, that on August 12, 2014, the Board of Education (the “Board”) of the Provo City School District, Utah (the “District”), adopted a resolution (the “Resolution”) in which it authorized the calling of an election (the “Election”) concerning a proposition for the issuance of the District’s General Obligation Bonds (the “Bonds”) and called a public hearing to receive input from the public with respect to (a) the issuance of the Bonds, and (b) any potential economic impact that the improvements, facilities or properties financed in whole or in part with the proceeds of the Bonds (see below) may have on the private sector.
Time, Place and Location of Hearing
The Board shall hold a public hearing on Tuesday, October 28, 2014, at the hour of 6:00 p.m. in the District Offices, located at 280 West 940 North, Provo, Utah. The purpose of the hearing is to receive input from the public with respect to (a) the issuance of the Bonds, and (b) any potential economic impact that the improvements, facilities, or properties financed in whole or in part with the proceeds of the Bonds may have on the private sector. All members of the public are invited to attend and participate.
Purpose for Issuing the Bonds, Maximum Amount and Security
The Bonds are to be issued in the aggregate principal amount of not to exceed $108,000,000 for the purpose of financing all or a portion of the costs acquiring land; acquiring, constructing, furnishing and equipping new school facilities and improving existing facilities;
and related improvements (the “Project”), and paying costs of issuance of the Bonds. The Bonds shall be secured by ad valorem property taxes of the District to the extent authorized by law.
The Bonds may be issued in one or more series and be sold from time to time, all as the Board may determine.