General Information

Government Type

Municipality

Entity

Bountiful

Public Body

City Council

Notice Information

Add Notice to Calendar

Notice Title

Notice of Intent to Issue Bonds and Public Hearing

Notice Tags

Bonds

Notice Type(s)

Notice, Meeting, Hearing, Bond

Event Start Date & Time

September 22, 2020 07:00 PM

Description/Agenda

NOTICE OF INTENT TO ISSUE BONDS NOTICE IS HEREBY GIVEN, pursuant to the provisions of Utah Code §11-14-318, that on August 11, 2020, the Bountiful City Council adopted Resolution 2020-09 authorizing and providing for a bond election to be held on November 3, 2020, for the purpose of submitting to the qualified electors of Bountiful, Utah, a proposition regarding the issuance of not to exceed eight million dollars ($8,000,000) in general obligation bonds to finance the costs to purchase the former Washington Elementary School site and improve it as a city park that would include a variety of recreation fields and sport uses, and to expand and improve the Bountiful trail system. The maximum principal amount of the bonds to be issued is Eight Million Dollars ($8,000,000) due and payable in not to exceed twenty (20) years from the date of issuance of the Bonds. If the Bonds are issued, a property tax increase would be necessary to pay debt service on the Bonds over a period of 20 years. The estimated property tax increase would be $32.57 per year on a $371,000 primary residence and $59.22 per year on a business property having the same value. A PUBLIC HEARING will be held on Tuesday, September 22, 2020, at the City Council meeting which starts at 7:00 p.m. at 255 South 100 West, Bountiful Utah for the purpose of receiving public input with respect to the issuance of bonds and the potential economic impact that the improvement, facility, or property for which the bonds pay all or part of the cost will have on the private sector. A PUBLIC MEETING will be held, pursuant to the provisions of Utah Code §59-1-1605, on Thursday, October 15 at 6:00 p.m. at 255 South 100 West, Bountiful, for a presentation of arguments in favor of the ballot proposition and against the ballot proposition.

Notice of Special Accommodations (ADA)

Persons who are disabled as defined by the Americans With Disabilities Act may request an accommodation by contacting the Bountiful City Manager at 298-6142. Notification at least 24 hours prior to the meeting would be appreciated.

Notice of Electronic or Telephone Participation

NA

Meeting Information

Meeting Location

255 South 100 West
Bountiful, 84010
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Contact Name

Sophia Ward

Contact Email

sward@bountiful.gov

Contact Phone

(801)298-6140

Notice Posting Details

Notice Posted On

September 08, 2020 03:49 PM

Notice Last Edited On

September 08, 2020 03:49 PM

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