General Information

Government Type

County

Entity

Wasatch County

Public Body

Wasatch County Council

Notice Information

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Notice Title

Municipal Building Authority of Wasatch County

Notice Type(s)

Notice, Meeting, Hearing

Event Start Date & Time

February 18, 2026 06:00 PM

Description/Agenda

NOTICE OF PUBLIC HEARING AND BONDS TO BE ISSUED PUBLIC NOTICE IS HEREBY GIVEN pursuant to the provisions of the Local Building Authority Act, Title 17D, Chapter 2, Utah Code Annotated 1953, as amended, the Local Government Bonding Act, Title 11, Chapter 14, Utah Code, as amended and the Utah Refunding Bond Act, Title 11, Chapter 27, Utah Code Annotated 1953, as amended (collectively, the 'Act'), that on January 21, 2026, the Governing Board (the 'Governing Board') of the Municipal Building Authority of Wasatch County, Utah (the 'Authority') adopted a resolution (the 'Resolution') declaring its intention to issue its Lease Revenue and Refunding Bonds, Series 2026 (the 'Bonds'), and calling a public hearing to receive input from the public with respect to the issuance of the Bonds. TIME, PLACE AND LOCATION OF PUBLIC HEARING The Authority shall hold a public hearing on February 18, 2026, at the hour of 6:00 p.m. The location of the public hearing is at the County offices of Wasatch County, Utah (the 'County') located at 25 North Main, Heber City, Utah. The purpose of the hearing is to receive input from the public with respect to: (a) the proposed Bonds, and (b) any potential economic impact that the improvements, facility or property financed in whole or in part with the proceeds of the Bonds may have on the private sector. All members of the public are invited to attend and participate. PURPOSE FOR ISSUING BONDS The Authority intends to issue the Bonds to provide funds to (a) finance costs of the construction of a new county administration building and all related improvements (the 'Series 2026 Project'); (b) refund certain outstanding bonds of the Authority; (c) fund any required deposits to a debt service reserve fund; and (d) pay costs associated with the issuance of the Bonds. PARAMETERS OF THE BONDS The Authority intends to issue the Bonds in a principal amount of not to exceed Forty-Five Million Dollars ($45,000,000), to bear interest at a rate or rates of not to exceed six percent (6.00%) per annum, to mature in not more than twenty-one (21) years from their date or dates, and to be sold at a price not less than ninety-eight percent (98%) of the total principal amount thereof, plus accrued interest, if any, to the date of delivery of the Bonds. The Bonds are to be issued and sold by the Authority pursuant to the Resolution, including as attachments to said Resolution a form of a General Indenture of Trust and Third Supplemental Indenture of Trust (collectively, the 'Indenture') and a form of a Master Lease Agreement and Second Amendment to Master Lease Agreement (together, the 'Lease'), which were before the Governing Board at the time of the adoption of the Resolution. The Indenture and the Lease are to be executed by the Authority and/or the County with such terms and provisions and any changes thereto as authorized by the Resolution. SECURITY FOR THE BONDS The Bonds are payable solely from the rents, revenues and other income received by the Authority from the leasing of the Series 2026 Project to the County on an annually renewable basis (the 'Lease Revenues'). OUTSTANDING BONDS SECURED BY LEASE REVENUES The Authority currently has $25,425,000 bonds outstanding secured by Lease Revenues of which $22,615,000 are anticipated to be refunded with a portion of the proposed Series 2026 Bonds, together with $23,000,000 from the proposed Series 2026 Bonds for new projects, for an estimated total outstanding par of $42,155,000 once the Series 2026 Bonds are issued and the refunding completed. OTHER OUTSTANDING BONDS OF THE AUTHORITY Information regarding all of the Authority's outstanding bonds may be found in the County's audited financial report (the 'Financial Report') at https://reporting.auditor.utah.gov/searchreports/s/. For additional information, including any more recent than as of the date of the Financial Report please contact Dustin Grabau, County Manager at (435) 657-3180. TOTAL ESTIMATED COST Based on an estimate of the current interest rate and financing plan, the estimated total debt service cost of the Bonds, if held until maturity, is $80,493,900. A copy of the Resolution and the forms of Indenture and the Lease are on file in the County offices, located at 25 North Main, Heber City, Utah, where they may be examined during regular business hours from 8:00 a.m. to 5:00 p.m., Monday through Friday, for a period of at least thirty (30) days from and after the last date of posting of this notice. NOTICE IS FURTHER GIVEN that a period of thirty (30) days from and after the date of the posting of this notice is provided by law during which (i) any person in interest shall have the right to contest the legality of the Resolution, the Indenture, the Lease, or the Bonds, or any provision made for the security and payment of the Bonds, and after such time, no one shall have any cause of action to contest the regularity, formality or legality thereof for any cause whatsoever, and (ii) active voters (as defined in Section 20A-1-102 of the Utah Code) within the County may sign a written petition requesting an election to authorize the issuance of the Bonds. If written petitions which have been signed by at least twenty percent (20%) of the active voters of the County are filed with the Authority during said 30-day period, the Authority shall be required to hold an election to obtain voter authorization prior to the issuance of the Bonds. If fewer than twenty percent (20%) of the active voters of the County file a written petition during said 30-day period, the Authority may proceed to issue the Bonds without an election. DATED this January 21, 2026.

Notice of Special Accommodations (ADA)

Wasatch County will make efforts to provide reasonable accommodations to disabled members of the public in accessing County programs. Please contact the Clerk's Office at the Wasatch County Council office at 435-657-3193 in advance if you have special needs.

Notice of Electronic or Telephone Participation

There is no electronic participation at this time.

Meeting Information

Meeting Location

Wasatch County Council Chambers
25 North Main Street
Heber City, UT 84032
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Contact Name

Wendy McKnight

Contact Email

wmcknight@wasatch.utah.gov

Contact Phone

(435)657-3193

Notice Posting Details

Notice Posted On

January 22, 2026 02:01 PM

Notice Last Edited On

January 22, 2026 02:01 PM

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