NOTICE OF BONDS TO BE ISSUED AND NOTICE OF PUBLIC HEARING OF CACHE COUNTY, UTAH
NOTICE IS HEREBY GIVEN that the County Council (the \"Council\") of Cache County, Utah (the \"County\"), will meet on March 28, 2017, at the County Courthouse, 199 North Main, Logan, Utah, in the Council chambers, at 5:00, p.m. or as soon thereafter as the matter may be heard, for the purpose of conducting a public hearing regarding a proposal by the County that pursuant to the provisions of Title 11, Chapter 17, Utah Code Annotated 1953, as amended (the \"Act\"), the County issue its Industrial Revenue Bonds, Series 2017 (Lower Foods Project) to be issued from time to time as one or more series and with such other series or title designation(s) as may be determined by the Council) (the \"Bonds\") in the aggregate principal amount of not to exceed $5,000,000 and to mature in not more than thirty (30) years. The County intends to lend the proceeds of the Bonds to Lower Properties, L.L.C., or any affiliate thereof (collectively, the \"Borrower\"), to pay all or a portion of the costs of acquiring, constructing and equipping certain expansion and improvements to a food manufacturing facility located at approximately 700 South Highway 91, Logan, Utah (the \"project\") which will be owned and used by the Borrower.
The County is authorized to issue the Bonds pursuant to the Act. The Bonds will be special limited obligations of the County payable solely from amounts provided by the Borrower. The Bonds and the interest thereon will not be a debt of the County or of the State of Utah (the \"State\") or any political subdivision of the State, and neither the County nor the State or any political subdivision of the State will be liable thereon. In no event will the Bonds or the interest thereon be payable out of any funds or properties other than those of the County expressly pledged as security for the Bonds. The Bonds will not constitute an indebtedness of the County within the meaning of any constitutional or statutory debt limitation or restriction.
The public hearing is required by the Tax Reform Act of 1986. Interested individuals are invited to express their views, both orally and in writing, on the proposed issue of Bonds and the location and nature of the Project. Comments at the public hearing are invited. Written comments may be submitted to the Auditor/Clerk\'s office located at 179 North Main Street, Suite 102 Logan, Utah 84321, until 5:00 p.m. on March 28, 2017. Additional information may be obtained from the County at its office shown above or by calling (435) 755-1850. Subsequent to the hearing, the Council will consider approving the issue of the Bonds to finance the Project.
A copy of the proceedings authorizing the issuance of the Bonds, are on file in the office of the Auditor/Clerk of Cache County at 179 North Main Street, Suite 102, Logan, Utah 84321 where they may be examined during regular business hours of the Auditor/Clerk 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.
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 during which any person in interest shall have the right to contest the legality of the above-referenced resolution, indenture, loan agreement, or the Bonds, or any provision made for the security and payment of the Bonds, and that after such time, no one shall have any cause of action to contest the regularity, formality or legality thereof for any cause whatsoever.
Date: March 12, 2017.
/s/ Jill Zollinger
Publication date: March 12, 2017