General Information

Government Type

Municipality

Entity

Payson

Public Body

City Recorder's Office

Notice Information

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Notice Title

Public Hearing Notice: Bonds to be Issued - Payson Sewer Revenue Series 2026

Notice Type(s)

Notice, Hearing, Bond

Event Start Date & Time

June 3, 2026 06:00 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 May 6, 2026, the City Council (the 'Council') of Payson City, Utah (the 'Issuer'), adopted a resolution (the 'Resolution') authorizing the issuance of the Issuer's Sewer Revenue Bonds, Series 2026 (the 'Series 2026 Bonds'), to be issued in one or more series and with such other series or title designation(s) as may be determined by the Issuer and called a public hearing to receive input from the public with respect to the issuance of the Series 2026 Bonds. PURPOSE, TIME, PLACE AND LOCATION OF PUBLIC HEARING The Issuer shall hold a public hearing on June 3, 2026, at the hour of 6:00 p.m. at 439 West, Utah Avenue, Payson, Utah. The purpose of the hearing is to receive input from the public with respect to (a) the issuance of the Series 2026 Bonds and (b) any potential economic impact that the project to be financed with the proceeds of the Series 2026 Bonds may have on the private sector. All members of the public are invited to attend and participate. PURPOSE FOR ISSUING THE SERIES 2026 BONDS The Series 2026 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 (the 'System') and all related improvements (the 'Project'), (b) funding a deposit to a debt service reserve fund, if necessary, and (c) paying costs of issuance of the Series 2026 Bonds. PARAMETERS OF THE SERIES 2026 BONDS The Issuer intends to issue the Series 2026 Bonds in the aggregate principal amount of not more than Five Million Dollars ($5,000,000), to mature in not more than twenty-one (21) years from their date or dates, to be sold at a price of not less than ninety-nine percent (99%) of the total principal amount thereof, and to bear interest at a rate or rates not to exceed six percent (6.00%) per annum. The Series 2026 Bonds are to be issued and sold by the Issuer pursuant to the Resolution, including as part of said Resolution, a General Indenture of Trust and an Eighth Supplemental Indenture of Trust (together the 'Indenture'), which will be before the Council in substantially final form at the time of the adoption of the Resolution. REVENUES PROPOSED TO BE PLEDGED The Series 2026 Bonds are special limited obligations of the Issuer payable from net revenues of the Issuer's sewer system (the 'System). OUTSTANDING BONDS SECURED BY REVENUES The Issuer currently has $61,977,000 of bonds outstanding secured by the revenues. OTHER OUTSTANDING BONDS OF THE ISSUER Information regarding all of the Issuer's outstanding bonds may be found in the Issuer's audited financial report (the 'Financial Report') at: https://reporting.auditor.utah.gov/searchreports/s/. For additional information more recent than as of the date of the Financial Report please contact the City Manager at (801) 465-5200. TOTAL ESTIMATED COST Based on an estimate of the current interest rate and financing plan, the estimated total debt service cost of the Series 2026 Bonds, if held until maturity is $7,846,330. A copy of the Resolution and the Indenture will be on file in the office of the City Recorder, 439 West, Utah Avenue, Payson City, Utah, where they may be examined during regular business hours of the City Recorder from 7:30 a.m. to 6:00 p.m., Monday through Thursday, 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 (but only as it relates to the Series 2026 Bonds), or the Series 2026 Bonds, or any provision made for the security and payment of the Series 2026 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 May 18, 2026. /s/ Amalie R. Ottley City Recorder

Notice of Special Accommodations (ADA)

In accordance with the Americans with Disabilities Act, Payson City will make reasonable accommodations to participate in the meeting. Requests for assistance can be made by calling 465-5205 at least 48 hours in advance of the meeting to be attended.

Notice of Electronic or Telephone Participation

N/A

Meeting Information

Meeting Location

439 W Utah Ave
Payson, UT 84651
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Contact Name

Amalie Ottley

Contact Email

amalieo@paysonutah.gov

Notice Posting Details

Notice Posted On

May 18, 2026 09:13 AM

Notice Last Edited On

May 18, 2026 09:13 AM

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