General Information

Government Type

Municipality

Entity

Eagle Mountain

Public Body

Redevelopment Agency

Notice Information

Add Notice to Calendar

Notice Title

Bonds To Be Issued

Notice Type(s)

Notice, Bond

Event Start Date & Time

June 5, 2026 09:06 AM

Description/Agenda

NOTICE OF BONDS TO BE ISSUED NOTICE IS HEREBY GIVEN pursuant to the provisions of the Limited Purpose Local Government Entities-Community Development and Renewal Agencies Act, Title 17C, Chapters 1-5, Utah Code Annotated 1953, as amended (the 'Act'), that on June 2, 2026, the Board of Directors (the 'Board') of the Redevelopment Agency of Eagle Mountain City, Utah (the 'Issuer'), adopted a resolution (the 'Resolution') in which it authorized the issuance of the Issuer's Sales Tax and Tax Increment Revenue Bonds, Series 2026 (to be issued from time to time in one or more series and with such other series or title designation(s) as may be determined by the Issuer) (the 'Bonds'). PURPOSE FOR ISSUING THE BONDS The Bonds will be issued for the purpose of (a) financing a portion of the capital project costs for the Agency's Mid-Valley Project Area, (b) funding a debt service reserve fund, if necessary, and (c) paying costs associated with the issuance of the Bonds. REVENUES PROPOSED TO BE PLEDGED The Bonds shall constitute special limited obligations of the Issuer and except as otherwise provided in the Indenture (defined below), are secured by an irrevocable pledge of, and shall be payable as to principal, premium, if any, and interest solely from the tax increment revenues generated from the Mid-Valley Project Area and all or a portion of sales tax revenues received and pledged from Eagle Mountain City, Utah (the 'City') but subordinated to any pledge of such sales tax revenues by the City to the payment of principal and interest on the City's bonds. PARAMETERS OF THE BONDS The Issuer intends to issue the Bonds, in the initial aggregate principal amount of not to exceed $10,000,000, shall mature in not more than twenty (20) years from their date or dates, shall be sold at a price not less than ninety-seven percent (97%) of the total principal amount thereof, shall bear interest at a rate or rates not to exceed five and one-half percent (5.50%) per annum. The Bonds are to be issued and sold by the Issuer pursuant to the Resolution, including as part of said Resolution, a form of Indenture of Trust and Supplemental Indenture (collectively, the 'Indenture'), and an Interlocal Sales Tax Pledge Agreement (the 'Pledge Agreement') provided that the principal amount, interest rate or rates, maturity, and discount of the Bonds will not exceed the maximums set forth above. A copy of the Resolution, the Pledge Agreement, and the Indenture are on file in the office of the City Recorder of Eagle Mountain City, 1650 East Stagecoach Run, Eagle Mountain, Utah, where they may be examined during regular business hours of the Agency and City from 7:30 a.m. to 5:30 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 Pledge Agreement, the Indenture (only as it applies 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 June 2, 2026. REDEVELOPMENT AGENCY OF EAGLE MOUNTAIN CITY, 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 801-789-6610 at least 3 working days prior to the meeting.

Notice of Electronic or Telephone Participation

NA

Meeting Information

Meeting Location

1650 E StageCoach Run
Eagle Mountain , UT 84005
Show in Apple Maps Show in Google Maps

Contact Name

Lacie Messerly

Contact Email

lmesserly@eaglemountian.gov

Notice Posting Details

Notice Posted On

June 05, 2026 09:32 AM

Notice Last Edited On

June 05, 2026 09:32 AM

Subscribe by Email

Subscription options will send you alerts regarding future notices posted by this Body.