General Information

Government Type

Municipality

Entity

Bluffdale

Public Body

City Council

Notice Information

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Notice Title

NOTICE OF BOND TO BE ISSUED- City Council 04-08-2026

Notice Type(s)

Notice

Event Start Date & Time

April 8, 2026 06:00 PM

Description/Agenda

NOTICE OF 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 April 8, 2026, the City Council (the 'Council') of Bluffdale City, Utah (the 'City'), adopted a resolution (the 'Resolution') in which it authorized the issuance of the City's Sales Tax Revenue Bond Anticipation Notes, Series 2026 (the 'Notes') (to be issued in one or more series and with such other series or title designation(s) as may be determined by the City). . PURPOSE FOR ISSUING THE NOTES The Notes will be issued for the purpose of (a) financing all or a portion of the costs of construction of a railroad underpass and all related improvements (collectively, the 'Project') and (b) paying costs of issuance of the Notes. PARAMETERS OF THE NOTES The City intends to issue the Notes in the aggregate principal amount of not more than Thirty Million Dollars ($30,000,000), to mature in not more than four (4) 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 bearing interest at a rate or rates not to exceed six and one-half percent (6.5%) per annum. The Notes are to be issued and sold by the City pursuant to the Resolution, including as part of said Resolution, a General Indenture of Trust and a First Supplemental Indenture of Trust (together, the 'Indenture') which was before the Council in substantially final form at the time of the adoption of the Resolution and said Indenture is to be executed by the City in such form and with such changes thereto as shall be approved by the City; provided that the principal amount, interest rate or rates, maturity, and discount of the Notes will not exceed the maximums set forth above. The City reserves the right to not issue the Notes for any reason and at any time up to the issuance of the Notes. REVENUES OR PROCEEDS PROPOSED TO BE PLEDGED The Notes are special limited obligations of the City payable as to interest solely from 100% of the Local Sales and Use Tax revenues received by the City pursuant to Title 59, Chapter 12, Part 2, Utah Code Annotated 1953, as amended and up to 100% of any other sales or excise taxes of the City legally available to be pledged as finalized by the officers of the City (the 'Revenues'), and payable as to principal solely from the proceeds of the sale of excise tax revenue bonds secured by the Revenues to be issued at some future date. OUTSTANDING BONDS SECURED BY REVENUES The City currently has $0 of bonds outstanding secured by the Revenues. OTHER OUTSTANDING BONDS OF THE CITY Additional information regarding the City's outstanding bonds may be found in the City's financial report (the 'Financial Report') at: https://reporting.auditor.utah.gov/searchreport. For additional information, including any information more recent than as of the date of the Financial Report, please contact the City Manager at (801) 254-2200. TOTAL ESTIMATED COST OF NOTES Based on the City's current plan of finance and a current estimate of interest rates, the interest cost of the Notes to be issued under the Act to finance the Project, if held until maturity, is $3,965,937, and the principal cost of the Notes to be issued under the Act to finance the Project, if held until maturity, is $30,000,000, for a total principal and interest cost of $33,965,937. (The City expects to refinance the $30,000,000 principal amount of the Notes prior to the maturity of the Notes through the issuance of a longer term bond.) A copy of the Resolution and the Indenture are on file in the office of City Recorder, 2222 West 14400 South, Bluffdale, Utah where they may be examined during regular business hours of the City Recorder from 8:30 a.m. to 5:00 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 publication 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 Indenture or the Notes, or any provision made for the security and payment of the Notes, 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 April 8, 2026. /s/ Tami Timothy___ ___ City Recorder

Notice of Special Accommodations (ADA)

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Notice of Electronic or Telephone Participation

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Other Information

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Meeting Information

Meeting Location

2222 West 14400 South
Bluffdale, UT 84065
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Contact Name

Tami Timothy

Contact Email

recorder@bluffdale.gov

Notice Posting Details

Notice Posted On

April 09, 2026 11:57 AM

Notice Last Edited On

April 09, 2026 11:57 AM

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