General Information

Government Type

Municipality

Entity

Wellington

Public Body

Wellington City Council

Notice Information

Add Notice to Calendar

Notice Title

NOTICE OF PUBLIC HEARING AND BONDS TO BE ISSUED

Notice Type(s)

Notice

Event Start Date & Time

January 14, 2026 06:00 PM

Description/Agenda

PUBLIC NOTICE IS HEREBY GIVEN THAT the governing board of the Municipal Building Authority of Wellington City, Utah (the 'Authority Board' and the 'Authority,' respectively) adopted a resolution (the 'Resolution') declaring its intention to issue Lease Revenue Bonds (the 'Bonds') pursuant to the Utah Local Building Authority Act, Title 17D, Chapter 2, Utah Code Annotated 1953, as amended, and calling the public hearing described below. TIME, PLACE AND LOCATION OF PUBLIC HEARING The Authority shall hold a public hearing on January 14, 2025, at 6:00 p.m., or as soon thereafter as feasible. The location of the public hearing is at the Council Chambers located at 102 N. 100 W., Wellington, Utah 84542. The purpose of the public hearing is to receive input from the public with respect to the issuance of the Bonds and the potential economic impact that the improvement, facility, or property for which the Bonds will pay all or part of the cost will have on the private sector. All members of the public are invited to attend and participate. PARAMETERS OF THE BONDS The Authority intends to issue the Bonds as Lease Revenue Bonds in an aggregate principal amount of not to exceed $3,000,000, to bear interest at a rate or rates not to exceed 0.50% per annum, to mature in not more than 35 years from their date or dates, and to be sold at a price not less than ninety-nine percent (99%) of the total principal amount thereof, plus accrued interest to the date of delivery. The security of the Bonds will be a new city hall and related improvements to be acquired. If Bonds are issued in the full amount above, and carried to maximum maturity, at the maximum interest rate, then the amount to be repaid will be approximately $3,290,776. However, the City and Authority have obtained a funding commitment from the State of Utah Permanent Community Impact Fund Board (the 'CIB') for a loan in the amount of $2,025,000, to bear interest at the rate of 0.50% and to be repaid over 30 years, in which event the amount to be repaid will be approximately $2,185,650. The Issuer has obtained a grant commitment in the amount of $5,125,000 for the Project from the CIB, none of which will need to be repaid. No taxes will be pledged for the repayment of the Bonds. PURPOSE FOR ISSUING BONDS The Bonds will be issued pursuant to the Resolution, and an Authorizing Resolution and Master Resolution (collectively, the 'Final Bond Resolutions') to be adopted by the Authority Board authorizing and confirming the sale of the Bonds for the purpose of (i) financing, in part, the lease of a new city hall, and related improvements for the benefit of Wellington City, Carbon County, Utah (the 'City') (the 'Project'); and (ii) paying the costs of issuance and sale of the Bonds.

Notice of Special Accommodations (ADA)

In compliance with the Americans with Disabilities Act, persons needing auxiliary services for this meeting should call 435-637-5213 at least 24 hours prior to the meeting.

Notice of Electronic or Telephone Participation

Individuals who are interested in participating electronically via Zoom need to contact the city recorder at 435-637-5213, no later than 3:00 P.M. on the meeting date.

Other Information

A copy of this notice was emailed to the Sun Advocate, a newspaper of general circulation within Carbon County, to Radio Station KOAL/KARB, and Emery TV.

Meeting Information

Meeting Location

102 N 100 W
WELLINGTON, UT 84542
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Contact Name

Rebecca Evans

Contact Email

revans@wellingtonutah.org

Contact Phone

(435)637-5213

Notice Posting Details

Notice Posted On

December 30, 2025 02:13 PM

Notice Last Edited On

December 30, 2025 02:13 PM

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