HomeMy Public PortalAboutRES-CC-2021-04DocuSign Envelope ID: F82DCE01-E771-4778-92E1-F5312A892823
Moab, Utah
February 23, 2021
The City Council (the "Council") of the City of Moab, Utah, (the "Issuer") met in
regular public session by electronic means, on Tuesday, February 23, 2021, at the hour of
7:00 p.m., with the following members of the Council being present:
Emily Niehaus Mayor
Rani Derasary Councilmember
Mike Duncan Councilmember
Karen Guzman -Newton Councilmember
Kalen Jones Councilmember
Tawny Knuteson-Boyd Councilmember
Also present:
Sommar Johnson City Recorder
Absent:
After the meeting had been duly called to order and after other matters not pertinent
to this resolution had been discussed, there was presented to the Council a Certificate of
Compliance with Open Meeting Law with respect to this February 23, 2021, meeting, a
copy of which is attached hereto as Exhibit A.
The following resolution was then introduced in written form, was fully discussed,
and pursuant to motion duly made by Councilmember Guzman -Newton and seconded by
Councilmember Knuteson-Boyd, was adopted by the following vote:
AYE: Derasary, Duncan, Jones, Guzman -Newton, Knuteson-Boyd
NAY: None
The resolution is as follows:
DocuSign Envelope ID: F82DCE01-E771-4778-92E1-F5312A892823
RESOLUTION NO. 04-2021
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MOAB,
UTAH (THE "ISSUER"), AUTHORIZING THE ISSUANCE AND SALE
OF NOT MORE THAN $8,500,000 AGGREGATE PRINCIPAL
AMOUNT OF SALES TAX REVENUE AND REFUNDING BONDS,
SERIES 2021 (THE "SERIES 2021 BONDS"); FIXING THE MAXIMUM
AGGREGATE PRINCIPAL AMOUNT OF THE SERIES 2021 BONDS,
THE MAXIMUM NUMBER OF YEARS OVER WHICH THE SERIES
2021 BONDS MAY MATURE, THE MAXIMUM INTEREST RATE
WHICH THE SERIES 2021 BONDS MAY BEAR, AND THE
MAXIMUM DISCOUNT FROM PAR AT WHICH THE SERIES 2021
BONDS MAY BE SOLD; DELEGATING TO CERTAIN OFFICERS OF
THE ISSUER THE AUTHORITY TO APPROVE THE FINAL TERMS
AND PROVISIONS OF THE SERIES 2021 BONDS WITHIN THE
PARAMETERS SET FORTH HEREIN; PROVIDING FOR THE
PUBLICATION OF A NOTICE OF PUBLIC HEARING AND BONDS
TO BE ISSUED; PROVIDING FOR THE RUNNING OF A CONTEST
PERIOD AND SETTING OF A PUBLIC HEARING DATE;
AUTHORIZING AND APPROVING THE EXECUTION OF A MASTER
RESOLUTION, A BOND PURCHASE AGREEMENT, AND OTHER
DOCUMENTS REQUIRED IN CONNECTION THEREWITH;
AUTHORIZING THE TAKING OF ALL OTHER ACTIONS
NECESSARY TO THE CONSUMMATION OF THE TRANSACTIONS
CONTEMPLATED BY THIS RESOLUTION; AND RELATED
MATTERS.
WHEREAS, the City Council (the "Council") of the City of Moab, Utah (the
"Issuer") desires to (a) finance all or a portion of the cost of the construction of an
affordable multi -family housing complex and all related improvements (the "Series 2021
Project"), (b) refund certain outstanding obligations of the Issuer (the "Refunded
Obligations"), (c) fund any necessary debt service reserve funds, and (d) pay costs of
issuance with respect to the Series 2021 Bonds herein described; and
WHEREAS, to accomplish the purposes set forth in the preceding recital, and
subject to the limitations set forth herein, the Issuer desires to issue its Sales Tax Revenue
and Refunding Bonds, Series 2021 (the "Series 2021 Bonds") (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 Issuer), pursuant to (a) the Local Government Bonding Act, Title 11,
Chapter 14, Utah Code Annotated 1953, as amended and the Utah Refunding Bond Act,
Title 1 I, Chapter 27, Utah Code Annotated 1953, as amended (together, the "Act"), (b)
this Resolution, and (c) a Master Resolution (the "Master Resolution"), in substantially the
form presented to the meeting at which this Resolution was adopted and which is attached
hereto as Exhibit B; and
WHEREAS, the Act provides that prior to issuing bonds, an issuing entity must (a)
give notice of its intent to issue such bonds and (b) hold a public hearing to receive input
from the public with respect to (i) the issuance of the bonds and (ii) the potential economic
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impact that the improvement, facility or property for which the bonds pay all or part of the
cost will have on the private sector; and
WHEREAS, the Issuer desires to call a public hearing for this purpose and to
publish a notice of such hearing with respect to the Series 2021 Bonds, including a notice
of bonds to be issued, in compliance with the Act; and
WHEREAS, the Issuer desires to approve and authorize a Bond Purchase
Agreement (the "Bond Purchase Agreement"), in substantially the form attached hereto as
Exhibit C, to be entered into between the Issuer and underwriter or purchaser (the
"Purchaser") selected by the Issuer for the Series 2021 Bonds; and
WHEREAS, in order to allow the Issuer flexibility in setting the pricing date of the
Series 2021 Bonds to optimize debt service costs to the Issuer, the Council desires to grant
to any one of the Mayor or Mayor pro tem (together, the "Mayor") or the City Manager
(collectively, the "Designated Officers"), the authority to (a) approve the principal
amounts, interest rates, terms, maturities, redemption features, and purchase price at which
the Series 2021 Bonds shall be sold and make any changes with respect thereto from those
terms which were before the Council at the time of adoption of this Resolution, provided
such terms do not exceed the parameters set forth for such terms in this Resolution (the
"Parameters"), (b) select the outstanding obligations of the Issuer to be refunded, and (c)
pursue the refunding of the Refunded Obligations if such refunding will result in a savings
to the Issuer;
NOW, THEREFORE BE IT RESOLVED by the City Council of the City of Moab,
Utah, as follows:
Section 1. For the purpose of (a) financing the Series 2021 Project, (b)
refunding the Refunded Obligations, (c) funding a deposit to a debt service reserve fund,
if necessary, and (d) paying costs of issuance of the Series 2021 Bonds, the Issuer hereby
authorizes the issuance of the Series 2021 Bonds which shall be designated "City of Moab,
Utah Sales Tax Revenue and Refunding Bonds, Series 2021" (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 Issuer) in the aggregate principal amount of not to exceed $8,500,000.
The Series 2021 Bonds shall mature in not more than twenty (20) years from their date or
dates, shall be sold at a price not less than ninety-eight percent (98%) of the total principal
amount thereof, shall bear interest at a rate or rates of not to exceed three percent (3.0%)
per annum, as shall be approved by the Designated Officers, all within the Parameters set
forth herein.
Section 2. The Designated Officers are hereby authorized to select the
Purchaser and specify and agree as to the method of sale, the final principal amounts, terms,
discounts, maturities, interest rates, redemption features, and purchase price with respect
to the Series 2021 Bonds for and on behalf of the Issuer, provided that such terms are within
the Parameters set by this Resolution. The selection of the method of sale, the selection of
the Purchaser, the selection of the outstanding obligations of the Issuer to be refunded, the
determination that the refunding of the Refunded Obligations will result in a savings to the
Issuer and the determination of the final terms and redemption provisions for the Series
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2021 Bonds by the Designated Officers shall be evidenced by the execution of the Bond
Purchase Agreement in substantially the form attached hereto as Exhibit C, or a term sheet
if the selected Purchaser prefers.
Section 3. The Master Resolution and the Bond Purchase Agreement in
substantially the forms presented to this meeting and attached hereto as Exhibits B and C,
respectively, are hereby authorized, approved, and confirmed. The Mayor and City
Recorder are hereby authorized to execute and deliver the Master Resolution and the Bond
Purchase Agreement in substantially the forms and with substantially the content as the
forms presented at this meeting for and on behalf of the Issuer, with final terms as may be
established by the Designated Officers within the Parameters set forth herein, and with
such alterations, changes or additions as may be necessary or as may be authorized by
Section 4 hereof.
Section 4. The Designated Officers or other appropriate officials of the Issuer
are authorized to make any alterations, changes or additions to the Master Resolution, the
Series 2021 Bonds, the Bond Purchase Agreement, or any other document herein
authorized and approved which may be necessary to conform the same to the final terms
of the Series 2021 Bonds (within the Parameters set by this Resolution), to conform to any
applicable bond insurance or reserve instrument or to remove the same, to correct errors or
omissions therein, to complete the same, to remove ambiguities therefrom, or to conform
the same to other provisions of said instruments, to the provisions of this Resolution or any
resolution adopted by the Council or the provisions of the laws of the State of Utah or the
United States. The execution thereof by the Mayor on behalf of the Issuer of the documents
approved hereby shall conclusively establish such necessity, appropriateness, and approval
with respect to all such additions, modifications, deletions, and changes incorporated
therein.
Section 5. The form, terms, and provisions of the Series 2021 Bonds and the
provisions for the signatures, authentication, payment, registration, transfer, exchange,
redemption, and number shall be as set forth in the Master Resolution. The Mayor and the
City Recorder are hereby authorized and directed to execute and seal the Series 2021 Bonds
and to deliver or provide for the delivery of said Series 2021 Bonds to the Purchaser. The
signatures of the Mayor and the City Recorder may be by facsimile or manual execution.
Section 6. Upon their issuance, the Series 2021 Bonds will constitute special
limited obligations of the Issuer payable solely from and to the extent of the sources set
forth in the Series 2021 Bonds and the Master Resolution. No provision of this Resolution,
the Master Resolution, the Series 2021 Bonds, or any other instrument, shall be construed
as creating a general obligation of the Issuer, or of creating a general obligation of the State
of Utah or any political subdivision thereof, or as incurring or creating a charge upon the
general credit of the Issuer or its ad valorem taxing powers.
Section 7. The Designated Officers and other appropriate officials of the
Issuer, and each of them, are hereby authorized and directed to execute and deliver for and
on behalf of the Issuer any or all additional certificates, documents and other papers
(including, without limitation, any escrow agreement permitted under the Master
Resolution and tax compliance procedures) and to perform all other acts they may deem
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necessary or appropriate in order to implement and carry out the matters authorized in this
Resolution and the documents authorized and approved herein.
Section 8. After the Series 2021 Bonds are delivered to the Purchaser and upon
receipt of payment therefor, this Resolution shall be and remain irrepealable until the
principal of, premium, if any, and interest on the Series 2021 Bonds are deemed to have
been duly discharged in accordance with the terms and provisions of the Master Resolution.
Section 9. The Issuer shall hold a public hearing on March 23, 2021 to receive
input from the public with respect to (a) the issuance of the Series 2021 Bonds issued under
the Act, and (b) the potential economic impact that the improvements to be financed with
the proceeds of the Series 2021 Bonds issued under the Act will have on the private sector,
which hearing date shall not be less than fourteen (14) days after notice of the public
hearing is first published and such publication shall be made (i) once a week for two
consecutive weeks in the Times Independent, a newspaper of general circulation in the
Issuer, (ii) on the Utah Public Notice Website created under Section 63F-1-701, Utah Code
Annotated 1953, as amended, and (iii) on the Utah Legal Notices website
(www.utahlegals.com) created under Section 45-1-101, Utah Code Annotated 1953, as
amended. The City Recorder shall cause a copy of this Resolution (together with all
exhibits hereto) to be kept on file in the Issuer's offices, for public examination during the
regular business hours of the Issuer until at least thirty (30) days from and after the last
date of the newspaper publication thereof. The Issuer directs its officers and staff to publish
a "Notice of Public Hearing and Bonds to be Issued" in substantially the following form:
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NOTICE OF PUBLIC HEARING AND BONDS TO BE ISSUED
NOTICE IS HEREBY GIVEN pursuant to the provisions of the Local Government
Bonding Act, Title 11, Chapter 14, Utah Code Annotated 1953, as amended (the "Act"),
that on February 23, 2021, the City Council (the "Council") of the City of Moab, Utah (the
"Issuer"), adopted a resolution (the "Resolution") in which it authorized the issuance of the
Issuer's Sales Tax Revenue and Refunding Bonds, Series 2021 (the "Series 2021 Bonds")
(to be issued in one or more series and with such other series or title designation(s) as may
be determined by the Issuer), and called a public hearing.
TIME, PLACE, LOCATION AND PURPOSE OF PUBLIC HEARING
The Issuer shall hold a public hearing on March 23, 2021, at the hour of 7:00 p.m.
by electronic means. The public may view the Issuer's electronic public hearing by
viewing the Issuer's YouTube channel: https://www.youtube.com/MoabCityGovernment.
The purpose of the hearing is to receive input from the public with respect to (a) the
issuance of the Series 2021 Bonds and (b) any potential economic impact that the project
to be financed with proceeds of the Series 2021 Bonds may have on the private sector. All
members of the public are invited to attend electronically and participate. Call -in
information to make comments during the public hearing can be found on the agenda at:
https://moabcity.org/AgendaCenter/City-Council-1.
PURPOSE FOR ISSUING THE SERIES 2021 BONDS
The Series 2021 Bonds will be issued for the purpose of (a) financing all or a portion
of the cost of construction of an affordable multi -family housing complex, and all related
improvements (the "Series 2021 Project"), (b) refunding certain outstanding obligations of
the Issuer, (c) funding any debt service reserve funds, as necessary, and (d) paying costs of
issuance of the Series 2021 Bonds.
PARAMETERS OF THE SERIES 2021 BONDS
The Issuer intends to issue the Series 2021 Bonds in the aggregate principal amount
of not more than Eight Million Five Hundred Thousand Dollars ($8,500,000), to mature in
not more than twenty (20) years from their date or dates, to be sold at a price not less than
ninety-eight percent (98%) of the total principal amount thereof, and bearing interest at a
rate or rates not to exceed three percent (3.0%) per annum. The Series 2021 Bonds are to
be issued and sold by the Issuer pursuant to the Resolution, including as part of said
Resolution, a Master Resolution (the "Master Resolution") which were before the Council
in substantially final form at the time of the adoption of the Resolution and said Master
Resolution is to be executed by the Issuer in such form and with such changes thereto as
shall be approved by the Issuer; provided that the principal amount, interest rate or rates,
maturity, and discount of the Series 2021 Bonds will not exceed the maximums set forth
above. The Issuer reserves the right to not issue the Series 2021 Bonds for any reason and
at any time up to the issuance of the Series 2021 Bonds.
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REVENUES PROPOSED TO BE PLEDGED
The Issuer proposes to pledge 100% of the local sales and use tax revenues received
by the Issuer pursuant to the Local Sales and Use Tax Act, Title 59, Chapter 12, Part 2 of
the Utah Code for the payment of the Series 2021 Bonds (the "Revenues").
OUTSTANDING BONDS SECURED BY PLEDGED TAXES
The Issuer currently has $3,739,000 of bonds outstanding secured by the Revenues.
OTHER OUTSTANDING BONDS OF THE ISSUER
Additional information regarding the Issuer's outstanding bonds may be found in
the Issuer's financial report (the "Financial Report") at:
https://reporting.auditor.utah.gov/searchreport. For additional information, including any
information more recent than as of the date of the Financial Report, please contact Joel
Linares, City Manager at (435) 259-5121.
TOTAL ESTIMATED COST OF BONDS
Based on the Issuer's current plan of finance and a current estimate of interest rates,
the total principal and interest cost of the Series 2021 Bonds, if held until maturity, is
$9,797,209.30.
A copy of the Resolution and the form of the Master Resolution are on file in the
office of the Moab City Recorder, 217 East Center Street, Moab, Utah, where they may be
examined during regular business hours of the City Recorder 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 (i) any person in
interest shall have the right to contest the legality of the Resolution, the Master Resolution
(as it pertains to the Series 2021 Bonds), or the Series 2021 Bonds, or any provision made
for the security and payment of the Series 2021 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 and (ii) registered voters within the City of Moab, Utah may sign a
written petition requesting an election to authorize the issuance of the Series 2021 Bonds.
If written petitions which have been signed by at least 20% of the registered voters of the
City of Moab, Utah are filed with the Issuer during said 30 -day period, the Issuer shall be
required to hold an election to obtain voter authorization prior to the issuance of the Series
2021 Bonds. If fewer than 20% of the registered voters of the City of Moab, Utah file a
written petition during said 30 -day period, the Issuer may proceed to issue the Series 2021
Bonds without an election.
DATED this February 23, 2021.
/s/Sommar Johnson
City Recorder
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Section 10. The Issuer hereby reserves the right to opt not to issue the Series
2021 Bonds for any reason, including without limitation, consideration of the opinions
expressed at the public hearing.
Section 11. All resolutions or parts thereof in conflict herewith are, to the extent
of such conflict, hereby repealed and this Resolution shall be in full force and effect
immediately upon its approval and adoption.
Section 12. The Issuer hereby declares its intention and reasonable expectation
to use proceeds of tax-exempt bonds to reimburse itself for initial expenditures for costs of
the Series 2021 Project. The Series 2021 Bonds are to be issued, and the reimbursements
made, by the later of 18 -months after the payment of the costs or after the Series 2021
Project is placed in service, but in any event, no later than three years after the date the
original expenditure was paid. The maximum principal amount of the Series 2021 Bonds
which will be issued to finance the reimbursed costs of the Series 2021 Project is not
expected to exceed $8,500,000.
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APPROVED AND ADOPTED this February 23, 2021.
(SEAL) _
ATTEST:
By: Vino .�
City Recorder
DoeuSigned by:
r
By: 648C84724CCIODD
9
Mayor
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(Other business not pertinent to the foregoing appears in the minutes of the
meeting.)
Upon the conclusion of all business on the Agenda, the meeting was adjourned.
ATTIC ST
DoeuSigned by:
By: 64DC8/724CCB4DD.._
By:
lityLfry)A;42k,A,v_
City Recorder
10
Mayor
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STATE OF UTAH
COUNTY OF GRAND
)
: SS.
I, Sommar Johnson, the duly appointed and qualified City Recorder of the City of
Moab, Utah (the "City"), do hereby certify according to the records of the City Council of
the City (the "City Council") in my official possession that the foregoing constitutes a true
and correct excerpt of the minutes of the meeting of the City Council held on February 23,
2021, including a resolution (the "Resolution") adopted at said meeting as said minutes
and Resolution are officially of record in my possession.
I further certify that the Resolution, with all exhibits attached, was deposited in my
office on February 23, 2021, and pursuant to the Resolution, there will be published a
Notice of Public Hearing and Bonds to be Issued no less than fourteen (14) days before the
public hearing date: (a) once a week for two consecutive weeks in the Times Independent,
a newspaper having general circulation within the City, the affidavit of which publication
will be attached upon availability, (b) on the Utah Public Notice Website created under
Section 63F-1-701, Utah Code Annotated 1953, as amended and (c) on the Utah Legal
Notices website (www.utahlegals.com) created under Section 45-1-101, Utah Code
Annotated 1953, as amended.
IN WITNESS WHEREOF, I have hereunto subscribed my signature and impressed
hereon the official seal of said City, this February 23, 2021.
By:
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City Recorder
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EXHIBIT A
CERTIFICATE OF COMPLIANCE WITH
OPEN MEETING LAW
I, Sommar Johnson, the undersigned City Recorder of the City of Moab, Utah (the
"City"), do hereby certify, according to the records of the City in my official possession,
and upon my own knowledge and belief, that in accordance with the requirements of
Section 52-4-202, Utah Code Annotated, 1953, as amended, I gave not less than twenty-
four (24) hours public notice of the agenda, date, time and place of the February 23, 2021,
public meeting held by the City Council of the City (the "City Council") as follows:
(a) By causing a Notice, in the form attached hereto as Schedule 1, to
be posted at the principal offices of the City on March 2, 2021, at least twenty-four
(24) hours prior to the convening of the meeting, said Notice having continuously
remained so posted and available for public inspection until the completion of the
meeting;
(b) By causing a copy of such Notice, in the form attached hereto as
Schedule 1, to be delivered to the Times Independent on February 25, 2021, at least
twenty-four (24) hours prior to the convening of the meeting; and
(c) By causing a copy of such Notice, in the form attached hereto as
Schedule 1, to be posted on the Utah Public Notice Website (http://pmn.utah.gov)
at least twenty-four (24) hours prior to the convening of the meeting.
In addition, the Notice of 2021 Annual Meeting Schedule for the City Council
(attached hereto as Schedule 2) was given specifying the date, time, and place of the regular
meetings of the City Council to be held during the year, by causing said Notice to be (a)
posted on December 16, 2020, at the principal office of the City Council, (b) provided to
at least one newspaper of general circulation within the City on December 17, 2020, and
(c) published on the Utah Public Notice Website (http://pmn.utah.gov) during the current
calendar year.
IN WITNESS WHEREOF, I have hereunto subscribed my official signature this
February 23, 2021.
By:
City Recorder
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SCHEDULE 1
NOTICE OF MEETING
NOTICE OF PUBLIC HEARING AND BONDS TO BE ISSUED
NOTICE IS HEREBY GIVEN pursuant to the provisions of the Local Government
Bonding Act, Title 11, Chapter 14, Utah Code Annotated 1953, as amended (the "Act"),
that on February 23, 2021, the City Council (the "Council") of the City of Moab, Utah (the
"Issuer"), adopted a resolution (the "Resolution") in which it authorized the issuance of the
Issuer's Sales Tax Revenue and Refunding Bonds, Series 2021 (the "Series 2021 Bonds")
(to be issued in one or more series and with such other series or title designation(s) as may
be determined by the Issuer), and called a public hearing.
TIME, PLACE, LOCATION AND PURPOSE OF PUBLIC HEARING
The Issuer shall hold a public hearing on March 23, 2021, at the hour of 7:00 p.m.
by electronic means. The public may view the Issuer's electronic public hearing by
viewing the Issuer's YouTube channel: https://www.youtube.com/MoabCityGovernment.
The purpose of the hearing is to receive input from the public with respect to (a) the
issuance of the Series 2021 Bonds and (b) any potential economic impact that the project
to be financed with proceeds of the Series 2021 Bonds may have on the private sector. All
members of the public are invited to attend electronically and participate. Call -in
information to make comments during the public hearing can be found on the agenda at:
https://moabcity.org/AgendaCenter/City-Council-1.
PURPOSE FOR ISSUING THE SERIES 2021 BONDS
The Series 2021 Bonds will be issued for the purpose of (a) financing all or a portion
of the cost of construction of an affordable multi -family housing complex, and all related
improvements (the "Series 2021 Project"), (b) refunding certain outstanding obligations of
the Issuer, (c) funding any debt service reserve funds, as necessary, and (d) paying costs of
issuance of the Series 2021 Bonds.
PARAMETERS OF THE SERIES 2021 BONDS
The Issuer intends to issue the Series 2021 Bonds in the aggregate principal amount
of not more than Eight Million Five Hundred Thousand Dollars ($8,500,000), to mature in
not more than twenty (20) years from their date or dates, to be sold at a price not less than
ninety-eight percent (98%) of the total principal amount thereof, and bearing interest at a
rate or rates not to exceed three percent (3.0%) per annum. The Series 2021 Bonds are to
be issued and sold by the Issuer pursuant to the Resolution, including as part of said
Resolution, a Master Resolution (the "Master Resolution") which were before the Council
in substantially final form at the time of the adoption of the Resolution and said Master
Resolution is to be executed by the Issuer in such form and with such changes thereto as
shall be approved by the Issuer; provided that the principal amount, interest rate or rates,
maturity, and discount of the Series 2021 Bonds will not exceed the maximums set forth
above. The Issuer reserves the right to not issue the Series 2021 Bonds for any reason and
at any time up to the issuance of the Series 2021 Bonds.
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REVENUES PROPOSED TO BE PLEDGED
The Issuer proposes to pledge 100% of the local sales and use tax revenues received
by the Issuer pursuant to the Local Sales and Use Tax Act, Title 59, Chapter 12, Part 2 of
the Utah Code for the payment of the Series 2021 Bonds (the "Revenues").
OUTSTANDING BONDS SECURED BY PLEDGED TAXES
The Issuer currently has $3,739,000 of bonds outstanding secured by the Revenues.
OTHER OUTSTANDING BONDS OF THE ISSUER
Additional information regarding the Issuer's outstanding bonds may be found in
the Issuer's financial report (the "Financial Report") at:
https://reporting.auditor.utah.gov/searchreport. For additional information, including any
information more recent than as of the date of the Financial Report, please contact Joel
Linares, City Manager at (435) 259-5121.
TOTAL ESTIMATED COST OF BONDS
Based on the Issuer's current plan of finance and a current estimate of interest rates,
the total principal and interest cost of the Series 2021 Bonds, if held until maturity, is
$9,797,209.30.
A copy of the Resolution and the form of the Master Resolution are on file in the
office of the Moab City Recorder, 217 East Center Street, Moab, Utah, where they may be
examined during regular business hours of the City Recorder 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 (i) any person in
interest shall have the right to contest the legality of the Resolution, the Master Resolution
(as it pertains to the Series 2021 Bonds), or the Series 2021 Bonds, or any provision made
for the security and payment of the Series 2021 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 and (ii) registered voters within the City of Moab, Utah may sign a
written petition requesting an election to authorize the issuance of the Series 2021 Bonds.
If written petitions which have been signed by at least 20% of the registered voters of the
City of Moab, Utah are filed with the Issuer during said 30 -day period, the Issuer shall be
required to hold an election to obtain voter authorization prior to the issuance of the Series
2021 Bonds. If fewer than 20% of the registered voters of the City of Moab, Utah file a
written petition during said 30 -day period, the Issuer may proceed to issue the Series 2021
Bonds without an election.
DATED this February 23, 2021.
/s/Sommar Johnson
City Recorder
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DocuSign Envelope ID: F82DCE01-E771-4778-92E1-F5312A892823
SCHEDULE 2
ANNUAL MEETING SCHEDULE
City of Moab
Regular Meeting Schedule
2021
The City of Moab will hold Regular City Council Meetings at 7:oo PM with
workshops usually beginning at 6:3o PM on the second and fourth Tuesdays of
each month. Unless noticed as an electronic meeting pursuant to Moab
Municipal Code Section 2.04.100, all Regular City Council Meetings will be held
in the Moab City Council Chambers at 217 East Center Street, Moab, Utah.
Meeting dates will be as follows:
Regular Meeting
January 12
Regular Meeting/Joint
Planning Commission
January 26
Regular Meeting
February 9
Regular Meeting
February 23
Regular Meeting
March 9
Regular Meeting
March 23
Regular Meeting
April 13
Regular Meeting/Joint
Planning Commission
April 27
Regular Meeting
May 11
Regular Meeting
May 25
Regular Meeting
June 8
Regular Meeting
June 22
Regular Meeting
July 13
Regular Meeting/Joint
Planning Commission
July 27
Regular Meeting
August 10
Regular Meeting
August 24
Regular Meeting
September 14
Regular Meeting
September 28
Regular Meeting
October 12
Regular Meeting/Joint
Planning Commission
October 26
Regular Meeting
November 9
Regular Meeting
December 14
/s/ Sommar Johnson
City Recorder
Published in the Times Independent, December 17 and December 24, 2020.
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DocuSign Envelope ID: FS2DCE01-E771-4778-92E1-F5312A892823
(attach Proof of Publication of
Notice of Public Hearing and Bonds to be Issued)
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4826-2656-4828, v. 2
DocuSign Envelope ID: F82DCE01-E771-4778-92E1-F5312A892823
EXHIBIT B
FORM OF MASTER RESOLUTION
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DocuSign Envelope ID: F82DCE01-E771-4778-92E1-F5312A892823
EXHIBIT C
FORM OF BOND PURCHASE AGREEMENT
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