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 July 17,
2024, the Board of Education (the “Board”) of Nebo School District, Utah (the “Issuer”) adopted
a resolution (the “Resolution”) in which it authorized the issuance of its General Obligation
School Building Bonds (to be issued in one or more series and from time to time, with any other
title or series designation) (the “Bonds”).
PURPOSE FOR ISSUING THE BONDS
Pursuant to the Resolution, the Bonds are to be issued for the purpose of (a) paying all or
a portion of the costs of constructing or purchasing buildings, or purchasing school sites, or
furnishing schools or improving existing school property, and (b) paying issuance expenses of
the Bonds.
PARAMETERS OF THE BONDS
The Board intends to issue the Bonds in the aggregate principal amount of not to exceed
$16,000,000, to mature in not more than sixteen (16) years from issuance, 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 six percent (6.0%) per annum.
The Bonds are to be issued and sold by the Issuer pursuant to the Resolution, with such
final terms and provisions as may be deemed appropriate by authorized officers of the Board,
provided that said final terms shall not exceed the maximums set forth above.
SECURITY PLEDGED FOR THE BONDS
The Bonds are general obligations of the Board secured by the full faith and credit and
taxing power of the Board.
OUTSTANDING BONDS
Other than the proposed Bonds, the Board currently has $245,425,000 of general
obligation bonds currently outstanding.
OTHER OUTSTANDING BONDS OF THE ISSUER
Additional information regarding the Board’s outstanding bonds or obligations may be
found in the Board’s financial report (the “Financial Report”) at:
https://reporting.auditor.utah.gov/searchreports/s/. For additional information, including any
information more recent than as of the date of the Financial Report, please contact Michael
Harrison, Business Administrator at (801) 354-7427.
TOTAL ESTIMATED COST
4871-8644-5266, v. 1
Based on the Board’s current plan of finance and a current estimate of interest rates, the
total principal and interest cost of the Bonds, if held until maturity, is $17,235,000.
A copy of the Resolution is on file in the office of the Business Administrator at the
Board’s offices located at 350 South Main Street, Spanish Fork, Utah, where they may be
examined during regular business hours from 8:00 a.m. to 5:00 p.m. 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 Resolution 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.
DATED this July 17, 2024.
Michael Harrison
Business Administrator