General Information

Government Type

Municipality

Entity

Herriman

Public Body

Public Hearings and Notices

Notice Information

Add Notice to Calendar

Notice Title

Notice of Bonds to be Issued

Notice Type(s)

Notice, Bond

Event Start Date & Time

August 28, 2026 02:18 PM

Event End Date & Time

October 3, 2026 02:18 PM

Description/Agenda

NOTICE OF BONDS TO BE ISSUED NOTICE IS HEREBY GIVEN pursuant to the provisions of the Utah Refunding Bond Act, Title 11, Chapter 27, Utah Code Annotated 1953, as amended (the 'Act'), that on August 26, 2026, the City Council (the 'Council') of Herriman City, Utah (the 'Issuer'), adopted a resolution (the 'Resolution') in which it authorized the issuance of the Issuer's Sales and Franchise Tax Revenue Refunding Bonds, Series 2026 (the '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). PURPOSE FOR ISSUING THE BONDS The Bonds will be issued for the purpose of (a) refunding a portion of the Issuer's outstanding sales and franchise tax revenue bonds (the 'Refunded Bonds') in order to achieve a debt service savings, (b) funding a deposit into a debt service reserve fund, if necessary, and (c) paying costs of issuance of the Bonds. PARAMETERS OF THE BONDS The Issuer intends to issue the Bonds in the aggregate principal amount of not more than Sixteen Million Dollars ($16,000,000), to mature in not more than ten (10) 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 of not to exceed six percent (6.00%) per annum. The 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 a Fifth Supplemental Indenture of Trust (collectively, the 'Indenture') which were before the Council in substantially final form at the time of the adoption of the Resolution. REVENUES PROPOSED TO BE PLEDGED The Issuer proposes to pledge 100% of the (i) local sales and use tax revenues received by it pursuant to the Local Sales and Use Tax Act, Title 59, Chapter 12, Part of the Utah Code, Annotated 1953, as amended (Utah Code) (ii) the Municipal Energy Sales and Use Tax Revenues received by the Issuer pursuant to Title 10, Chapter 1, Part 3, Utah Code; and (iii) the Telecommunications Franchise Tax Revenues received by the Issuer pursuant to Title 10, Chapter 1, Part 4, Utah code for the payment of the Series 2026 Bonds, (collectively, the 'Revenues') A copy of the Resolution and the Indenture are on file in the office of the Herriman City Recorder, 5355 West Herriman Main Street, Herriman, Utah, where they may be examined during regular business hours of the City Recorder 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 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 this August 26, 2026. _________/s/ Jackie Nostrom__________ City Recorder

Notice of Special Accommodations (ADA)

NA

Notice of Electronic or Telephone Participation

NA

Other Information

NA

Meeting Information

Meeting Location

5355 West Herriman Main Street
Herriman, UT 84096
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Contact Name

Jackie Nostrom

Contact Email

jnostrom@herriman.gov

Contact Phone

(801)446-5323

Notice Posting Details

Notice Posted On

August 27, 2026 02:18 PM

Notice Last Edited On

August 27, 2026 02:18 PM

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