NOTICE IS HEREBY GIVEN pursuant to the provisions of 17D-2-502 and 17D-2-601 Utah Code Annotated 1953, as amended, that on March 21, 2017, the Board of Trustees (the “Board”) of the Local Building Authority of North Sanpete School District, Sanpete County, Utah (the “Issuer”), adopted a resolution (the “Resolution”) authorizing the issuance of the Issuer’s lease revenue bonds (the “Bonds”) in the aggregate principal amount of not to exceed Six Million Dollars, to bear interest at a rate or rates of not to exceed one percent per annum, to mature in not more than twenty-one years from their date or dates and to be sold at a discount from par, expressed as a percentage of principal amount, of not to exceed two percent. The purchaser will not be required to make a good faith deposit in connection with its agreement to purchase the Bonds.
Pursuant to the Resolution, the Bonds are to be issued for the purpose of raising money for (A) financing certain costs of installing energy conservation equipment in the schools and other facilities owned and operated by the Board of Education (the “Board of Education”) of North Sanpete School District, Utah (the “District”) and (B) paying expenses incurred in connection with the issuance and sale of the Bonds.
The bonds are payable from annually-renewable lease payments from the Board of Education and will be secured by a mortgage on the Property. The estimated total cost to the Issuer for the proposed Bonds, if the Bonds are held until maturity and based on estimated interest rates currently in effect and the principal amount of Bonds the Issuer expects to issue, is $6,000,000.
The Bonds are to be issued and sold by the Issuer pursuant to the Resolution, including as attachments to such Resolution forms of Site Lease, the Lease, the Program Fund Agreement, the Purchase Agreement, and the Assignment Agreement (the “QZAB Program Documents”). The QZAB Program Documents are to be executed and delivered by the Issuer in such form and with such changes as shall be approved by the Issuer together with other related bond documents; provided that the principal amount, interest rate or rates, maturity and discount of the Bonds will not exceed the maximums set forth above.
Copies of the Resolution and the forms of the QZAB Program Documents and certain other documents pertaining to the issuance and sale of the Bonds are on file in the office of the Issuer, which is the office of the Secretary of the Issuer at 220 East 700 South, in Mt. Pleasant, Utah where they may be examined during regular business hours of the Issuer from 8:00 a.m. to 5:00 p.m., Monday through Friday of each week (except holidays). Such documents shall be available for inspection from and after the date of the publication of this notice until at least thirty days thereafter.
NOTICE IS FURTHER GIVEN that for a period of thirty days from and after the date of the publication of this notice, any person in interest shall have the right to contest the legality of the Resolution or the Bonds, or any provision made for the security and payments of such Bonds and after such time, no one shall have any cause of action to contest the regularity, formality, or legality thereof for any cause whatsoever.
NOTICE IS FURTHER GIVEN that pursuant to Section 17D 2 502, Utah Code Annotated 1953, as amended, if within thirty calendar days of the publication of this notice, a written petition requesting an election and signed by at least twenty percent of the active voters of North Sanpete School District is filed with the Board, then the Board shall submit the question of whether or not to issue the Bonds to the voters of North Sanpete School District for their approval or rejection.
DATED March 21, 2017.

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