General Information

Government Type

Municipality

Entity

Syracuse

Public Body

Municipal Building Authority

Notice Information

Add Notice to Calendar

Notice Title

Notice of bonds to be issues

Notice Type(s)

Notice

Event Start Date & Time

September 8, 2026 12:59 PM

Description/Agenda

NOTICE OF BONDS TO BE ISSUED PUBLIC NOTICE IS HEREBY GIVEN that pursuant to the Local Building Authority Act, Title 17D, Chapter 2, Utah Code Annotated 1959, as amended, and the Utah Refunding Bond Act, Title 11, Chapter 27, Utah Code Annotated 1953, as amended (collectively, the 'Act'), the Governing Board (the 'Board') of the Municipal Building Authority of Syracuse City, Utah (the 'Issuer'), adopted a resolution on September 8, 2026 (the 'Resolution') in which it authorized the issuance of the Issuer's Lease Revenue Refunding Bonds, Series 2026 (the 'Series 2026 Bonds') (to be issued in one or more series from time to time and with any other series or title designations of the Issuer). PURPOSE FOR ISSUING THE SERIES 2026 BONDS The Series 2026 Bonds will be issued for the purpose of (a) refunding all of the Issuer's outstanding Lease Revenue Refunding Bonds, Series 2023 Bonds which were previously issued to finance finance the acquisition and construction of, and furnishing and equipping of improvements to, a new fire station and related improvements (the 'Prior Project') and (b) paying issuance expenses of the Series 2026 Bonds. PARAMETERS OF THE BONDS The Issuer intends to issue the Bonds in the principal amount of not to exceed Eleven Million Dollars ($11,000,000), to bear interest at the rate or rates of not to exceed five and one half percent (5.50%) per annum, to mature in not more than seventeen (17) years from their date or dates of issuance, and to be sold at a price not less than ninety-eight percent (98%) of the total principal amount thereof. The Bonds are to be issued and sold by the Authority pursuant to the Resolution, including as part of said Resolution, forms of a of a General Indenture of Trust (the 'General Indenture'), a Supplemental Indenture of Trust (the 'Supplemental Indenture' and collectively with the General Indenture, the 'Indenture'), a Bond Purchase Contract (the 'Purchase Contract'), a Master Lease Agreement (the 'Master Lease'), certain Security Documents (the 'Security Documents'), a Ground Lease (the 'Ground Lease') and a Preliminary Official Statement (the 'Preliminary Official Statement') which were before the Governing Board and attached to the Resolution at the time of the adoption of the Resolution and said General Indenture, Supplemental Indenture, Purchase Agreement, Master Lease, Security Documents, Ground Lease, and Preliminary Official Statement are to be executed by the Authority in such form and with such changes thereto as shall be approved by the Authority; provided that the principal amount, interest rates, maturity, and discount of the Bonds will not exceed the maximums set forth above. SECURITY FOR THE BONDS This Bonds are to be issued under and secured by and entitled to the protection of the Indenture, pursuant to which all base rentals payable by Syracuse City, Utah (the 'City') under the Master Lease and, if paid by the City, the Purchase Option Price, are assigned to secure the payment of principal of, interest on, and premium, if any on the Bonds. Additionally, a security interest in the Prior Project shall be granted to the holders of this Bonds pursuant to the Master Lease, to further secure the Authority's obligations under the Indenture. NOTICE IS HEREBY 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 Series 2026 Bonds or the Indenture and the Master Lease (but only as they relate to 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 September 8, 2026. /s/ Cassie Brown Secretary-Treasurer

Notice of Special Accommodations (ADA)

In compliance with the Americans Disabilities Act, persons needing auxiliary communicative aids and services for this meeting should contact the City Offices at 825-1477 at least 48 hours in advance of the meeting.

Notice of Electronic or Telephone Participation

Not available

Meeting Information

Meeting Location

1979 W 1900 S
SYRACUSE, UT 84075
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Contact Name

Jenny Schow

Contact Email

jschow@syracuseut.com

Contact Phone

8016149626

Notice Posting Details

Notice Posted On

September 09, 2026 01:00 PM

Notice Last Edited On

September 09, 2026 01:00 PM

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