Public Meetings, Public Notice, Public Hearing, Bonds
Notice Type(s)
Notice,
Meeting,
Hearing,
Bond
Event Start Date & Time
April 1, 2026 07:00 PM
Description/Agenda
NOTICE OF PUBLIC HEARING AND BONDS TO BE ISSUED
NOTICE IS HEREBY GIVEN pursuant to the provisions of the Local Government Bonding Act, Title 11, Chapter 14, Utah Code Annotated 1953, as amended, (the 'Act'), that on February 4, 2026, the City Council (the 'Council') of Grantsville City, Utah (the 'Issuer'), adopted a resolution (the 'Resolution') in which it authorized the issuance of the Issuer's Sewer Revenue Bonds, Series 2026 (to be issued in one or more series and with such other series or title designation(s) as may be determined by the Issuer) (the 'Bonds') and called a public hearing to receive input from the public with respect to (a) the issuance of the Bonds and (b) any potential economic impact that the Project described herein to be financed with the proceeds of the Bonds may have on the private sector.
TIME, PLACE AND LOCATION OF PUBLIC HEARING
The Issuer shall hold a public hearing on April 1, 2026, at the hour of 7:00 p.m. at 429 East Main Street, Grantsville, Utah. The purpose of the hearing is to receive input from the public with respect to (a) the issuance of the Bonds and (b) any potential economic impact that the Project (defined herein) to be financed 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 THE BONDS
The Bonds will be issued for the purpose of (a) financing all or a portion of the costs of the construction of improvements to its sewer system and all related improvements (collectively, the 'Project'), (b) funding a deposit to a debt service reserve fund, if necessary, and (c) paying costs of issuance of the Bonds.
PARAMETERS OF THE BONDS
The Issuer intends to issue the Bonds in the aggregate principal amount of not more than Fifty Million Dollars ($50,000,000), to mature in not more than thirty-four (34) years from their date or dates, to be sold at a price not less than ninety-eight percent (98%) of the total principal amount thereof, and shall bear interest at a rate or rates of not to exceed six percent (6%). The Bonds are to be issued and sold by the Issuer pursuant to the Resolution, including as part of said Resolution a Master Resolution dated as of December 1, 2018 (the 'Original Master Resolution'), as previously supplemented, and as further supplemented by one or more Supplemental Master Resolutions (collectively, the 'Master Resolution') which was before the Council in substantially final form at the time of the adoption of the Resolution and said Supplemental Master Resolution(s) are to be executed by the Issuer in such form and with such changes thereto as shall be approved by the Issuer; provided that the principal amount, interest rate or rates, maturity, and discount of the Bonds will not exceed the maximums set forth above. The Issuer reserves the right to not issue the Bonds for any reason and at any time up to the issuance of the Bonds.
REVENUES PROPOSED TO BE PLEDGED
The Bonds are special limited obligations of the Issuer payable from the net revenues of the Issuer's sewer system (the 'Revenues').
OUTSTANDING BONDS SECURED BY REVENUES
The Issuer currently has $5,046,000 of bonds outstanding secured by the Revenues.
OTHER OUTSTANDING BONDS OF THE ISSUER
Additional information regarding the Issuer's outstanding bonds may be found in the Issuer's financial report (the 'Financial Report') at: https://reporting.auditor.utah.gov/searchreports/s/. For additional information, including any information more recent than as of the date of the Financial Report, please contact Aspen Clegg, Finance Director (435) 884-4619.
TOTAL ESTIMATED COST OF BONDS
Based on the Issuer's current plan of finance and a current estimate of interest rates, the total principal and interest cost of the Bonds, if held until maturity, is $98,649,387.
A copy of the Resolution and the Master Resolution are on file in the office of the City Recorder, 429 East Main Street, Grantsville, Utah where they may be examined during regular business hours of the City Recorder from 8:00 a.m. to 6:00 p.m. Monday through Friday, for a period of at least thirty (30) days from and after the date of publication 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 any person in interest shall have the right to contest the legality of the Resolution, the Master Resolution (but only as it relates to the Bonds) or the Bonds, or any provision 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 whatsoever.
DATED this February 4, 2026.
/s/ Alicia Fairbourne
City Recorder
Notice of Special Accommodations (ADA)
In compliance with the Americans with Disability Act, Grantsville City will accommodate reasonable requests to assist the disabled to participate in meetings. Requests for assistance may be made by calling City Hall at least 3 days in advance of the meeting that will be attended at (435) 884-3411.
Notice of Electronic or Telephone Participation
One or more Council Members may participate electronically. The anchor location will be City Hall at 429 E. Main St., Grantsville.