General Information

Government Type

Municipality

Entity

Vernal

Public Body

City Council

Notice Information

Add Notice to Calendar

Notice Title

Notice of Bonds to be Issued

Notice Tags

Bonds

Notice Type(s)

Notice, Bond

Event Start Date & Time

August 20, 2026 11:01 AM

Event End Date & Time

September 19, 2026 05:00 PM

Event Deadline Date & Time

09/19/26 05:00 PM

Description/Agenda

NOTICE OF BONDS TO BE ISSUED NOTICE IS HEREBY GIVEN pursuant to the provisions of Sections 11-14-316 of the Utah Code Annotated 1953, as amended, that on August 19, 2026, the City Council of the Vernal City, Utah (the 'Issuer'), adopted a resolution (the 'Resolution') in which it authorized and approved the issuance of the Issuer's water and sewer revenue bonds in one or more series (the 'Bonds') in an aggregate principal amount of not to exceed $2,000,000, to mature in not more than 27 years from their date or dates, to bear interest at a rate or rates not to exceed 0.50% per annum, and to be sold at a discount from par of not to exceed 2.00%. The Bonds are to be issued and sold by the Issuer pursuant to (1) the Resolution, (2) a Master Indenture (the 'Master Indenture'), and (3) a Supplemental Indenture (the 'Supplemental Indenture'), supplementing the Master Indenture. The Bonds are to be issued for the purpose of (1) financing a portion of the costs of improvements to the Issuer's water and sewer system (the 'System'), including installation of HDPE and PVC water lines, water service connections and tie-ins, PVC sewer lines, manholes and bypass pumping equipment (collectively, the 'Project') and (2) paying the costs incurred in connection with the issuance and sale of the Bonds, all as set forth in the Resolution, the Master Indenture and the Supplemental Indenture. The Bonds will be payable from and secured by the revenues of the System (the 'Revenues') and certain other funds, as more particularly described in the Master Indenture. The City currently has $5,562,927 bonds outstanding that are secured by the Revenues. More detailed information relating to the City's outstanding bonds can be found in the City's most recent financial statements that are available on the Office of the Utah State Auditor's website (auditor.utah.gov). The estimated total cost to the City of the proposed Bonds that will be used to finance the costs of the Project, if the Bonds are held until maturity and based on estimated interest rates currently in effect, is $2,015,375. A copy of the Resolution (including drafts of the Master Indenture and Supplemental Indenture) is on file in the office of the Issuer, located at 374 East Main Street, in Vernal City, Utah, where it may be examined during regular business hours of the Issuer from 8:00 A.M. to 5:00 P.M. Said Resolution (including drafts of the Master Indenture and Supplemental Indenture) will 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 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 above-described Resolution (including the Master Indenture and the Supplemental Indenture) of the City Council of the Vernal City, Utah, or the Bonds or any provisions 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.

Notice of Special Accommodations (ADA)

NOTE: In compliance with the Americans with Disabilities Act, individuals needing special accommodations during this meeting should notify Sara Bell at 374 East Main, Vernal, Utah 84078, telephone: 789-2255.

Notice of Electronic or Telephone Participation

NA

Meeting Information

Meeting Location

374 East Main
Vernal, UT 84078
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Contact Name

Katherine Flaniken

Contact Email

kflaniken@vernal.gov

Notice Posting Details

Notice Posted On

August 20, 2026 11:04 AM

Notice Last Edited On

August 20, 2026 11:04 AM

Deadline Date

September 19, 2026 05:00 PM

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