{
11-14-318, as last amended by Laws of Utah 2009, First Special Session,
Chapter 5
}
2. Page
2, Lines 46 through 50
:
46
{
(h) detailed information on the debt liability owed by the local political
subdivision on
47
the day on which the governing body approved issuance of the bonds;
48
(i) the estimated total cost to the political subdivision for the bonds if the bonds
are
49
held until maturity, including principal, interest, and insurance costs; and
}
(h) the total par amount of bonds currently outstanding that are secured by
the same pledge of revenues as the proposed bonds, if any;
(i) information on a method by which an individual may obtain access to more
detailed information relating to the outstanding bonds of the local political
subdivision;
(j) the estimated total cost to the local political subdivision for the proposed bonds if
the bonds are held until maturity, based on interest rates in effect at the time that
the local political subdivision publishes the notice; and
50
[(h)]
{
(j)
}
(k)
the times and place where a copy of the resolution or other
proceeding may be
3. Page
3, Line 64 through Page 4, Line 98
:
64
{
Section 2.
Section
11-14-318
is amended to read:
65
11-14-318. Public hearing required -- Notice.
66
(1) Before issuing bonds authorized under this chapter, a local political
subdivision
67
shall:
68
(a) in accordance with Subsection (2), provide public notice of the local political
69
subdivision's intent to issue bonds; [and]
70
(b) include, with the public notice described in Subsection (1)(a):
71
(i) a copy of the resolution or other proceeding that provides for the issuance of
bonds;
72
or
73
(ii) a notice of bonds to be issued, described in Subsection
11-14-316
(2); and
74
[(b)] (c) hold a public hearing:
75
(i) if an election is required under this chapter:
76
(A) no sooner than 30 days before the day on which the notice of election is
published
77
under Section
11-14-202
; and
78
(B) no later than five business days before the day on which the notice of
election is
79
published under Section
11-14-202
; and
80
(ii) to receive input from the public with respect to:
81
(A) the issuance of the bonds; and
82
(B) the potential economic impact that the improvement, facility, or property
for which
83
the bonds pay all or part of the cost will have on the private sector.
84
(2) A local political subdivision shall:
85
(a) publish the notice required by Subsection (1)(a):
86
(i) once each week for two consecutive weeks in the official newspaper
described in
87
Section
11-14-316
with the first publication being not less than 14 days before the
public
88
hearing required by Subsection (1)[(b)](c); and
89
(ii) on the Utah Public Notice Website, created under Section
63F-1-701
, no less
than
90
14 days before the public hearing required by Subsection (1)[(b)](c); and
91
(b) ensure that the notice:
92
(i) identifies:
93
(A) the purpose for the issuance of the bonds;
94
(B) the maximum principal amount of the bonds to be issued;
95
(C) the taxes, if any, proposed to be pledged for repayment of the bonds; and
96
(D) the time, place, and location of the public hearing; and
97
(ii) informs the public that the public hearing will be held for the purposes
described in
98
Subsection (1)[(b)](c)(ii).
}
The motion to amend passed favorably with Rep. Brown, Rep. Wilcox, and Rep. Noel absent for
the vote.
Rep. Knotwell introduced the bill to the committee. Mr. Jon Bronson, Zion's Bank, answered
questions from the committee.
Spoke in favor of the bill: Mr. Robert Wall, South Jordan City Attorney
MOTION: Rep. McKell moved to pass the bill out favorably as amended. The motion passed
unanimously with Rep. Wilcox absent for the vote.
MOTION: Rep. McKell moved to place the bill on the Consent Calendar. The motion passed
unanimously with Rep. Wilcox absent for the vote.
H.B. 398 Fees on Gift Cards or Certificates (Rep. M. Brown)
MOTION: Rep. Mathis moved to replace HB398 with 1st Sub. HB398. The motion passed
unanimously with Rep. Wilcox absent for the vote.
1st Sub. H.B. 398 Fees on Gift Cards or Certificates (Rep. M. Brown)
Rep. Brown introduced the bill to the committee with the assistance of Mr. Richard Walsh,
citizen.
Spoke in opposition to the bill: Mr. Howard Headlee, Utah Bankers Association
Mr. Kirk Weiler, Wex Bank
Mr. Lewis Goodwin, Green Dot Bank
Mr. George Sutton, Utah Bankers Association
Mr. Scott Simpson, Utah Credit Union Association
Mr. Dave Davis, Utah Retail Merchants Association
Mr. Doug Foxley, Utah Association of Financial Services
MOTION: Rep. Wiley moved to hold 1st Sub. HB398.
SUBSTITUTE MOTION: Rep. Ivory moved to return 1st Sub. HB398 to the House Rules
Committee. The motion passed with Rep. Brown, Rep. Draxler,
Rep. Mathis, Rep. Sagers, and Rep. Noel voting in opposition.
H.B. 394 Outdoor Wood Boilers (Rep. M. Noel)