NOTICE OF BONDS TO BE ISSUED
NOTICE IS HEREBY GIVEN pursuant to the provisions of Sections 11-14-316 and 11-27-4, Utah Code Annotated 1953, as amended, that on August 18, 2026, the City Council (the 'Council') of the City of North Salt Lake, Utah (the 'City'), adopted a resolution (the 'Resolution') in which it authorized and approved the issuance of its Sales Tax Revenue Refunding Bonds (the 'Bonds'), in an aggregate principal amount of not to exceed $15,000,000 to bear interest at a rate or rates of not to exceed 5.50% per annum and to mature not later than 21 years from their date or dates and to be sold at a discount from par not to exceed 2.00%. The Bonds shall be subject to such optional and mandatory redemption and other provisions as are contained in the Master Indenture of Trust, described below, and the final form of the Bonds and Supplemental Indenture, described below.
The Bonds are to be issued and sold by the City pursuant to (a) the Resolution, (b) a Master Indenture of Trust (the 'Master Indenture'), and (c) a Supplemental Indenture of Trust (the 'Supplemental Indenture'). The Supplemental Indenture will be executed and delivered at a future date prior to the issuance of the Bonds in substantially the form attached to the Resolution, with such changes thereto as shall be approved by the City, provided that the principal amount, interest rate or rates, maturity or maturities and discount will not exceed the maximums set forth above.
The Bonds are to be issued for the purpose of (a) refunding all or a portion of the City's currently outstanding Sales Tax Revenue Bonds, Series 2022 (the 'Refunded Bonds'); and (b) paying certain costs relating to the issuance of the Bonds, all as set forth in the Resolution, the Master Indenture and the Supplemental Indentures. The aggregate principal amount of the Bonds, if any, issued for the purpose of refunding the Refunded Bonds may exceed the aggregate principal amount of the Refunded Bonds.
The repayment of the Bonds will be secured by a pledge of the legally available revenues from the Local Sales and Use Taxes received by the City pursuant to Title 59, Chapter 12, Part 2, Utah Code (the 'Pledged Taxes').
A copy of the Resolution (including the drafts of the Supplemental Indenture and a copy of the Master Indenture attached to the Resolution) is on file in the office of the City Recorder at City Hall, 10 East Center Street, City of North Salt Lake, Utah, where the Resolution may be examined during regular business hours of the City Recorder from 8:00 a.m. to 5:00 p.m. The Resolution shall be so available for inspection for a period of at least thirty (30) days from and after the date of the publication of this notice.
NOTICE IS FURTHER GIVEN that, pursuant to law, for a period of thirty (30) days from and after the date of the publication of this notice, any person in interest shall have the right to contest the legality of the Resolution (including the Supplemental Indenture attached thereto) of the City or the Bonds authorized thereby or any provisions made for the security and payment of the Bonds. After such time, no one shall have any cause of action to contest the regularity, formality or legality of the Resolution, the Bonds or any provisions made for their security and payment for any cause.
DATED August 18, 2026.
CITY OF NORTH SALT LAKE, UTAH
Notice of Special Accommodations (ADA)
If you need special accommodations to participate in the City Council meeting, please call the City Recorder's office at 801-335-8709. Please provide at least 24 hours notice for adequate arrangements to be made.
Notice of Electronic or Telephone Participation
Some members of the governing body may participate electronically. The City passed Resolution No. 2022-41R on November 15, 2022 adopting a policy authorizing participation in meetings by electronic communications in accordance with Utah Code 52-4-207.