General Information

Government Type

Municipality

Entity

Lehi

Public Body

City Council

Notice Information

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Notice Title

Notice of Public Hearing with Respect to Electric Revenue Bonds

Notice Tags

Bonds

Notice Type(s)

Notice, Hearing, Bond

Event Start Date & Time

September 19, 2023 07:00 PM

Description/Agenda

LEHI CITY, UTAH NOTICE OF PUBLIC HEARING WITH RESPECT TO ELECTRIC REVENUE BONDS PUBLIC NOTICE IS HEREBY GIVEN that the City Council (the 'Council') of Lehi City, Utah (the 'City'), shall hold a public hearing to receive input from the public with respect to the issuance of its Electric Revenue Bonds (the 'Bonds') to finance all or a portion of the cost of acquiring and constructing certain improvements (the 'Project') to the City's electric utility system (the 'System'), including the construction of a power generation facility, and the potential economic impact that the Project will have on the private sector, pursuant to the Local Government Bonding Act, Title 11, Chapter 14, Utah Code Annotated 1953, as amended (the 'Act'). PURPOSE FOR ISSUING BONDS The City intends to issue the Bonds for the purpose of (a) financing all or a portion of the cost of acquiring and constructing certain improvements (the 'Project') to the City's electric utility system (the 'System'), including the construction of a power generation facility, (b) funding all or a portion of any necessary reserves in connection with the Bonds, and (c) paying all or a portion of the costs incurred in connection with the issuance and sale of the Bonds. MAXIMUM PRINCIPAL AMOUNT OF THE BONDS The City intends to issue the Bonds in an aggregate principal amount not exceeding $21,000,000. ELECTRIC REVENUES PROPOSED TO BE PLEDGED The City proposes to pledge to the payment of the Bonds the net revenues from the System (the 'Net Revenues'). TIME, PLACE AND LOCATION OF PUBLIC HEARING The City will hold a public hearing during its City Council meeting that begins at 7:00 p.m. on September 19, 2023. The public hearing will be held at the regular meeting place of the Council at 153 North 100 East, in Lehi, Utah. All members of the public are invited to attend and participate in the public hearing. Written comments may be submitted to the City, to the attention of the City Recorder, prior to the public hearing. PURPOSE FOR HEARING The purpose of the hearing is to receive input from the public with respect to the issuance of the Bonds and the potential economic impact that the Project will have on the private sector. DATED August 8, 2023. LEHI CITY, UTAH

Notice of Special Accommodations (ADA)

In compliance with the Americans with Disabilities Act, persons in need of special accommodations should contact the City Recorder at 768-7100 ext. 2254.

Notice of Electronic or Telephone Participation

N/A

Meeting Information

Meeting Location

153 N 100 E
Lehi, UT 84043
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Contact Name

Teisha Wilson

Contact Email

twilson@lehi-ut.gov

Contact Phone

(385)201-2269

Notice Posting Details

Notice Posted On

September 12, 2023 04:51 PM

Notice Last Edited On

September 12, 2023 04:51 PM

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