General Information

Government Type

Municipality

Entity

Provo

Public Body

Provo City Administration

Notice Information

Add Notice to Calendar

Notice Title

Notice of Bonds to Be Issued

Notice Tags

Bonds

Notice Type(s)

Notice

Event Start Date & Time

December 16, 2025 05:30 PM

Description/Agenda

NOTICE OF BONDS TO BE ISSUED NOTICE IS HEREBY GIVEN that on December 16, 2025, the Municipal Council (the 'Council') of Provo City, Utah (the 'City') adopted a resolution (the 'Resolution') in which it authorized the issuance, in one or more series, of the City's transportation sales tax revenue bonds (the 'Bonds') in an aggregate principal amount of not to exceed $20,000,000, to mature in not more than 16 years from their date or dates, to bear interest at a rate or rates not to exceed 6.0% per annum (exclusive of any default rate), and to be sold at a discount from par, expressed as a percentage of principal amount, of not to exceed 2.0%. The Bonds are to be issued and sold by the City pursuant to (1) a Master Trust Indenture Providing for the Issuance of Transportation Revenue Bonds (the 'Master Indenture'), as supplemented by a Supplemental Indenture Authorizing the Issuance and Sale of Transportation Sales Tax Revenue Bonds, Series 2026A (the 'Supplemental Indenture' and, collectively with the Master Indenture, the 'Indenture'). The Bonds are to be issued for the purpose of financing certain costs of improvements to the City's municipal airport, funding any necessary reserves, and paying costs of issuance of the Bonds. Pursuant to the Indenture, the City will pledge the revenues derived by the City from the levy of sales taxes under the levy of sales taxes under Title 59, Chapter 12, Part 22, Utah Code Annotated 1953, as amended (Local Option Sales and Use Taxes for Transportation Act) (the 'Revenue'). Responsive to Section 11 14 316, Utah Code Annotated 1953, as amended, the total cost the City would pay with respect to the Bonds (being the total principal and interest payments to be made by the City) if the Bonds were to remain outstanding until their maturity date, based on an estimated principal amount of $20,000,000 and interest rates in effect as of the date of this notice, is estimated to be approximately $37,245,523. The total amount of outstanding bonds or other obligations of the City (other than the Bonds) that are payable from the Revenues is $0.00. More detailed information relating to the outstanding bonds of the City can be obtained at the office of the City Recorder of the City at the address below. A copy of the Indenture is on file in the office of the City, located at 445 W. Center St. Provo, Utah 84601, where it may be examined during the regular business hours of the City from 8:00 a.m. to 5:00 p.m., Monday through Friday. The Resolution, including a copy of the Indenture shall be so available for inspection for a period of at least 30 days from and after the date of publication of this notice. NOTICE IS FURTHER GIVEN that, pursuant to law, for a period of 30 days from and after the date of publication of this notice, any person in interest shall have the right to contest the legality of the above-described Resolution of the Council, or the Bonds, or any provisions 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. DATED this December 17, 2025.

Notice of Special Accommodations (ADA)

NA

Notice of Electronic or Telephone Participation

NA

Meeting Information

Meeting Location

445 West Center Street
Provo, UT 84601
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Contact Name

Kaye Neves

Contact Email

kneves@provo.org

Contact Phone

8018526100

Notice Posting Details

Notice Posted On

December 17, 2025 05:09 PM

Notice Last Edited On

December 17, 2025 05:09 PM

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