Notice of Public Hearing and Bonds to be Issued - Revision 1
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General Information
- Government Type
- Municipality
- Entity
- Santaquin
- Public Body
- City Council
Notice Information
- Notice Title
- Notice of Public Hearing and Bonds to be Issued
- Notice Type(s)
- Hearing
- Event Start Date & Time
- August 19, 2025 07:00 PM
- Description/Agenda
- 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 'Act'), that on July 15, 2025, the City Council (the 'Council') of Santaquin City, Utah (the 'Issuer'), adopted a resolution (the 'Resolution') in which it authorized the issuance of the Issuer's Sewer Revenue Bonds, Series 2025 (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 Bonds and (b) any potential economic impact that the project described herein to be financed with the proceeds of the Bonds may have on the private sector TIME, PLACE, LOCATION AND PURPOSE OF PUBLIC HEARING The Issuer shall hold a public hearing on August 19, 2025, at the hour of 7:00 p.m. at 110 S. Center Street, Santaquin City, Utah. The purpose of the hearing is to receive input from the public with respect to (a) the issuance of the Bonds and (b) any potential economic impact that the project to be financed with 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 costs of construction, installation, and equipping of the City's sewer system to, among other improvements, increase the capacity of its dewatering system, winter storage, treatment, and pumping capacities, (b) fund any necessary debt service reserve funds, and (c) pay 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 Three Million One Hundred Thousand Dollars ($3,100,000), to mature in not more than twenty (20) 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 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 Master Resolution which was before the Council in substantially final form at the time of the adoption of the Resolution, and said Master Resolution is to be executed by the Issuer in such form and with such changes thereto as shall be approved by the Issuer; provided that the principal amount, interest rate or rates, maturity, and discount of the Bonds will not exceed the maximums set forth above. The Issuer reserves the right to not issue the Bonds for any reason and at any time up to the issuance of the Bonds. REVENUES PROPOSED TO BE PLEDGED The Bonds are special limited obligations of the Issuer payable from the net revenues of the System (the 'Revenues'). OUTSTANDING BONDS SECURED BY PLEDGED REVENUES The Issuer currently has $4,856,834 of bonds outstanding secured by the Revenues. 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/searchreports/s/. For additional information, including any information more recent than as of the date of the Financial Report, please contact Norm Beagley, City Manager at (801) 754-3211, Ext. 205. TOTAL ESTIMATED COST OF BONDS Based on the Issuer's current plan of finance and a current estimate of interest rates, the total principal and interest cost of the Bonds, if held until maturity, is $3,867,393. A copy of the Resolution and form of Master Resolution are on file in the office of the Santaquin City Recorder, 110 S. Center Street, Santaquin, Utah, where they may be examined during regular business hours of the City Recorder from 9:00 a.m. to 5:00 p.m. Monday through Thursday and 9:00 a.m. to 1:00 p.m. on Fridays 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 Master Resolution (as it pertains 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. DATED this July 15, 2025. /s/ Amalie Ottley City Recorder
- Notice of Special Accommodations (ADA)
- If you are planning to attend this Public Meeting and, due to a disability, need assistance in understanding or participating in the meeting, please notify the City ten or more hours in advance and we will, within reason, provide what assistance may be required.
- Notice of Electronic or Telephone Participation
- Electronic participation upon request. Did you know that both historical and current agendas & minutes are also posted on Santaquin's website? The link can be found below! http://santaquin.org/government/agendas_minutes
- Other Information
- Agendas & Minutes are posted on Santaquin's site here: http://santaquin.org/government/agendas_minutes
Meeting Information
- Meeting Location
-
110 S. Center Street
Santaquin, UT 84655
Show in Apple Maps Show in Google Maps - Contact Name
- Stephanie Chistensen
- Contact Email
- schristensen@santaquin.gov
Notice Posting Details
- Notice Posted On
- July 16, 2025 11:56 AM
- Notice Last Edited On
- July 21, 2025 01:19 PM
Audio File Address
- Audio File Location
- https://www.youtube.com/@santaquincity
Download Attachments
| File Name | Category | Date Added |
|---|---|---|
| 07-16-2025 Notice of Public Hearing and Bonds to be Issued.docx | Public Information Handout | 2025/07/16 11:56 AM |
Board/Committee Contacts
| Member | Phone | |
|---|---|---|
| Lynn Mecham | lmecham@santaquin.org | (801)754-3211 |
| Art Adcock | aadcock@santaquin.org | 801-754-3211 |
| Jeff Siddoway | jsiddoway@santaquin.org | 801-754-3211 |
| Travis Keel | tkeel@santaquin.org | 801-754-3211 |
| Brian Del Rosario | bdelrosario@santaquin.org | 801-754-3211 |