NOTICE OF PUBLIC HEARING AND BONDS TO BE ISSUED
NOTICE IS HEREBY GIVEN pursuant to the provisions of the Local Government Bonding Act, Title 11, Chapter 14, Utah Code Annotated 1953, as amended (the 'Bond Act'), and the Utah Refunding Bond Act, Title 11, Chapter 27, Utah Code Annotated 1953, as amended (the 'Refunding Bond Act' and collectively with the Bond Act, the 'Act') that on September 21, 2026, the City Council (the 'Council') of Lindon City, Utah (the 'Issuer'), adopted a resolution (the 'Resolution') authorizing the issuance of the Issuer's Sewer Revenue and 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 and called a public hearing to receive input from the public with respect to (a) the issuance of the portion of the Bonds issued under the Bond Act, and (b) any potential impact that the Project (defined below) financed with the proceeds of that portion of the Bonds issued under the Bond Act may have on the private sector.
PURPOSE, TIME, PLACE AND LOCATION OF PUBLIC HEARING
The Issuer shall hold a public hearing on October 5, 2026, at the hour of 5:15 p.m. at Lindon City Hall, 100 North State Street, Lindon, Utah. The purpose of the hearing is to receive input from the public with respect to (a) the issuance of that portion of the Bonds issued under the Bond Act, and (b) any potential economic impact that the project to be financed with the proceeds of the Bonds may have on the private sector. All members of the public are invited to attend and participate.
PURPOSE FOR ISSUING THE BONDS
The Bonds will be issued for the purpose of (a) financing the acquisition and construction of improvements to the Issuer's sewer system including pipe upsizing, and all related improvements (collectively, the 'Project'), (b) refunding all or a portion of the Issuer's outstanding Sewer Revenue Bonds (the 'Refunded Bonds'), (c) funding any required deposit to a debt service reserve fund, if necessary, and (d) paying costs of issuance with respect to the Bonds.
PARAMETERS OF THE BONDS
The Issuer intends to issue the Bonds in the aggregate principal amount of not more than ($3,500,000) to finance the Project, and in the aggregate principal amount of not to exceed ($1,700,000) to refund the Refunded Bonds, both to mature in not more than twenty five (25) years from their date or dates, to be sold at a price of not less than ninety-eight percent (98%) of the total principal amount thereof, and to bear interest at a rate or rates not to exceed five and one-half percent (5.5%) per annum. The Bonds are to be issued and sold by the Issuer pursuant to the Resolution, including as part of said Resolution either a General Indenture of Trust and a Supplemental Indenture of Trust (collectively, the 'Indenture') or a Master Resolution (the 'Master Resolution'), which were before the Council in substantially final forms at the time of the adoption of the Resolution.
REVENUES PROPOSED TO BE PLEDGED
The Bonds are special, limited obligations of the Issuer payable from the net revenues (the 'Net Revenues') of the sewer system (the 'System').
OUTSTANDING BONDS SECURED BY REVENUES
The Issuer currently has $1,600.000 of bonds outstanding secured by the Net Revenues of the System.
OTHER OUTSTANDING BONDS OF THE ISSUER
Additional information regarding the Issuer's outstanding bonds may be found in the Issuer's financial report (the 'Financial Report') at: https://reporting.auditor.utah.gov/searchreport/s/. For additional information, including any information more recent than as of the date of the Financial Report, please contact, Adam Cowie, City Administrator at 801-785-5043.
TOTAL ESTIMATED COST OF BONDS
Based on an estimate of the current interest rate and financing plan, the estimated total debt service cost of the Bonds, if held until maturity is $4,773,847.22.
A copy of the Resolution, the Indenture, and the Master Resolution are on file at 100 North State Street, Lindon City Utah, where they may be examined during regular business hours from 8:00 a.m. to 5:00 p.m. Monday through Friday for a period of at least thirty (30) days from and after the date of posting 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 Bonds), the Master Resolution (but only as it relates 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.
Notice of Special Accommodations (ADA)
The City of Lindon, in compliance with the Americans with disabilities Act, provides accommodations and auxiliary communicative aids and services for all those citizens in need of assistance. Persons requesting these accommodations for City-sponsored public meetings, services programs or events should call Britni Laidler at 801-785-5043, giving at least 24 hours notice.
Notice of Electronic or Telephone Participation
All or a portion of this meeting may be held electronically to allow a council member to participate by video conference or teleconference.