Request for Public Comment

Posted by maeserwater on March 24, 2020

REQUEST FOR PUBLIC COMMENT
Loan Authorization

Dear Water User:
Maeser Water Improvement District has applied to the Utah Permanent Community Impact Fund Board for a loan to finance, in part, water system improvements, and related improvements (the “Project”). Security for the loan would be provided through the sale of a “nonvoted” water revenue bond to the Community Impact Board. The Community Impact Board bonds will be issued in the amount of $375,000, bearing no interest, to be repaid over thirty (30) years. Payments shall be made from the net revenues of the District’s water systems. Due to proper planning, it is anticipated that the base water rate will not be affected to service this loan and existing water revenue bonds of the District.
It is the policy of the Community Impact Board to provide a period for public comment. In this regard, the District invites comments on the water project and associated loan (either favorable or negative). Interested individuals are encouraged to respond in writing before 4:00 p.m. on May 13, 2020. The District will hold a public meeting at 1:00 p.m., or as soon thereafter as feasible, on May 14, 2020 at the regular meeting place of the District at 1063 North 2500 West, Maeser, Utah. The District will receive both written and oral comments at that time. Your comments will be considered and if there is significant opposition to the proposed project, the lending agency may require a bond election to obtain the Board’s funds.
Thank you for your consideration in this matter,
Maeser Water Improvement District