General Information

Government Type

Municipality

Entity

Cedar Fort

Public Body

Town Council

Notice Information

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Notice Title

NOTICE OF PUBLIC HEARING AND BONDS TO BE ISSUED AND BOND ANTICIPATION NOTES TO BE ISSUED

Notice Type(s)

Notice

Event Start Date & Time

December 16, 2025 06:30 PM

Description/Agenda

NOTICE OF PUBLIC HEARING AND BONDS TO BE ISSUED AND BOND ANTICIPATION NOTES TO BE ISSUED NOTICE IS HEREBY GIVEN pursuant to the provisions of the Utah Local Government Bonding Act, Title 11, Chapter 14, Utah Code Annotated 1953, as amended, that on November 18, 2025, the Town Council (the 'Council') of Town of Cedar Fort, Utah (the 'Issuer') adopted a resolution (the 'Resolution') in which it authorized the issuance of the Issuer's Water Revenue Bonds in one or more series (the 'Bonds') and its Water Revenue Bond Anticipation Notes or interim Bonds (the 'Notes'), each in the aggregate principal amount of not to exceed $1,600,000, with the Bonds to bear interest at the rate or rates of not to exceed 5.0% per annum, to mature in not more than forty (40) years from their date or dates and to be sold at a price not less than 99% of the total principal amount thereof and for the Notes to bear interest at a rate or rates of not to exceed 5.25% per annum, to mature in not more than three (3) years from their date or dates for the Notes, and to be sold at a price not less than 97% of the total principal amount thereof. The estimated total cost to the Issuer for the proposed Bonds, if the Bonds are held until the maximum maturity, based on the maximum interest rate above, is approximately $3,703,270. The estimated total cost to the Issuer for the proposed Notes, if the Notes are held until the maximum maturity based on the maximum interest rate above is approximately, $1,732,796. However, the Issuer is seeking a funding commitment from the United States Department of Agriculture, Rural Development related to the Bonds at a lower interest rate than what is contained herein. Presently the Issuer has no outstanding bonds or debt secured by a pledge of its Water revenues. NOTICE IS FURTHER GIVEN that the Issuer called a public hearing for the purpose of inviting public comment on the proposed issuance of the Bonds and Bond Anticipation Notes and the economic impact that the improvements proposed to be financed with the Bonds and Bond Anticipation Notes will have on the private sector. The public hearing will be held on December 16, 2025, at 6:30 p.m., or as soon thereafter as feasible, at the regular meeting place of the Council at 50 E. Center, Cedar Fort, Utah. As Water revenue bonds and notes no taxes will be pledged to repay the Bonds or Notes. The Bonds and Notes will be issued pursuant to the Resolution and an Authorizing Resolution and a Final Bond Resolution or Agreement related to the Bonds and the Notes to be adopted authorizing and confirming the sale of the Bonds and Notes for the purposes of financing, in part, (i) the acquisition and construction of Water system improvements, and related improvements, and (ii) paying the costs of issuing the Bonds and Notes. A draft of the Resolution, the Authorizing Resolution, and the Final Bond Resolution(s) or Agreement in substantially final forms were before the Council and were part of the Resolution (collectively, the 'Bond Resolutions') at the time of its adoption by the Town Council. The Bond Resolutions will each be adopted by the Council in such form and with such changes thereto as shall be approved by the Council upon the adoption thereof; provided that the principal amount, interest rate, maturity and discount of the Bonds and the Notes will not exceed the maximums set forth above. A copy of the Resolution and the Bond Resolutions are on file in the office of the Town Clerk in the Issuer where they may be examined during regular business hours for at least thirty (30) days from and after the date of publication of this notice. NOTICE IS HEREBY GIVEN that a period of thirty (30) days from and after the first 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, the Bond Resolutions, the Bonds or the Notes, or any provision made for the security and payment of the Bonds or the Notes by filing a verified written complaint in the District court of the county in which he/she resides, and that after such time, other than referendum rights, no one shall have any cause of action to contest the regularity, formality or legality thereof for any cause whatsoever. DATED November 18, 2025. /s/ Kandice Johnson Town Clerk

Notice of Special Accommodations (ADA)

Pursuant to the Americans with Disabilities Act, individuals needing special accommodations during this meeting should notify the Town Clerk, at 801-768-2147 at least 24 hours priors to the meeting.

Notice of Electronic or Telephone Participation

NA

Meeting Information

Meeting Location

Town Hall, 50 East Center Street
Cedar Fort, UT 84013
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Contact Name

Kandice Johnson

Contact Email

clerk@cedarfort.gov

Notice Posting Details

Notice Posted On

November 26, 2025 12:50 PM

Notice Last Edited On

November 26, 2025 12:50 PM

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