General Information

Government Type

Municipality

Entity

Nephi

Public Body

Nephi City Council

Notice Information

Add Notice to Calendar

Notice Title

Notice of Bonds to be Issued

Notice Type(s)

Notice

Event Start Date & Time

January 21, 2026 02:30 PM

Event End Date & Time

February 20, 2026 05:00 PM

Description/Agenda

NOTICE OF BONDS TO BE ISSUED NOTICE IS HEREBY GIVEN pursuant to the provisions of Section 11-14-316, Utah Code Annotated 1953, as amended, that on January 20, 2026, the City Council (the 'Council') of Nephi City, Juab County, Utah (the 'City'), adopted a resolution (the 'Resolution') in which it authorized and approved the issuance of its Sales Tax Revenue Bonds (the 'Bonds'), in an aggregate principal amount of not to exceed $7,500,000 to bear interest at a rate or rates of not to exceed 6.50% per annum and to mature not later than 22 years from their date or dates and to be sold at a discount from par not to exceed 2.00%. Pursuant to the Resolution, the Bonds are to be issued for the purpose of financing all or a portion of the cost of the expansion and improvement of the municipal golf course and related improvements (the 'Project') and paying all or a portion of the costs incurred in connection with the issuance and sale of the Bonds. The Bonds are to be issued and sold by the City pursuant to the Resolution and a Master Resolution authorizing the issuance of sales tax revenue bonds of the Issuer adopted on March 9, 2022, as supplemented and amended (the 'Master Resolution'); provided that the principal amount, interest rate or rates, maturity or maturities and discount will not exceed the maximums set forth above. The repayment of the Bonds will be secured by a pledge of the legally available revenues from the Local Sales and Use Taxes received by the City pursuant to Title 59, Chapter 12, Part 2, Utah Code (the 'Pledged Taxes'). The City currently has $3,197,000 par amount of bonds currently outstanding that are secured by the Pledged Taxes. More detailed information relating to the City's outstanding bonds can be found in the City's most recent Annual Comprehensive Financial Report that is available on the Office of the Utah State Auditor's website (www.auditor.utah.gov). The estimated total cost to the City of the proposed Bonds that will be used to finance the costs of the Project, if the Bonds are held until maturity and based on estimated interest rates currently in effect, is $10,159,933. A copy of the Resolution (including the Master Resolution) is on file in the office of the City Recorder at 21 East 100 North, in Nephi, Utah 84648, where the Resolution may be examined during regular business hours of the City Recorder from 8:00 a.m. to 5:00 p.m. Monday through Friday. The Resolution shall be so available for inspection for a period of at least thirty (30) days from and after the date of the publication of this notice. NOTICE IS FURTHER GIVEN that, pursuant to law, for a period of thirty (30) days from and after the date of the publication of this notice, any person in interest shall have the right to contest the legality of the Resolution (including the Master Resolution) of the City or the Bonds authorized thereby or any provisions made for the security and payment of the Bonds. After such time, no one shall have any cause of action to contest the regularity, formality or legality of the Resolution, the Bonds or any provisions made for their security and payment for any cause. DATED January 20, 2026. NEPHI CITY, JUAB COUNTY, UTAH

Notice of Special Accommodations (ADA)

In compliance with the Americans with Disabilities Act, individuals needing special accommodations (including auxiliary communicative aids and services) during this meeting should notify Lisa Brough at 435-623-0822. RAMPS ARE AVAILABLE FOR USE ON THE NORTH ENTRANCE OF 21 EAST 100 NORTH

Notice of Electronic or Telephone Participation

NA

Meeting Information

Meeting Location

21 E 100 N
Nephi, UT 84648
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Contact Name

Leslee Anderson

Contact Email

landerson4@nephi.utah.gov

Contact Phone

(435)623-0822

Notice Posting Details

Notice Posted On

January 21, 2026 02:20 PM

Notice Last Edited On

January 21, 2026 02:20 PM

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