12.09.25 City Council Public Hearing - Revision 1
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General Information
- Government Type
- Municipality
- Entity
- American Fork
- Public Body
- City Council
Notice Information
- Notice Title
- 12.09.25 City Council Public Hearing
- Notice Type(s)
- Notice, Hearing
- Event Start Date & Time
- December 9, 2025 07:00 PM
- Description/Agenda
- NOTICE OF INTENT TO ISSUE LEASE REVENUE BONDS AND HOLD PUBLIC HEARING AMERICAN FORK CITY AND LOCAL BUILDING AUTHORITY OF AMERICAN FORK CITY, UTAH PUBLIC NOTICE IS HEREBY GIVEN that the Local Building Authority of American Fork City, Utah (the 'Authority') intends to issue lease revenue bonds (the 'Bonds') in the aggregate principal amount of not to exceed $50,000,000 and to mature in not more than 31 years from their date or dates. The City Council (the 'City Council') of American Fork City, Utah (the 'City') and the Board of Trustees (the 'Board of Trustees') of the Authority will consider resolutions providing for the issuance of the Bonds at meetings that begin at 7:00 p.m. on December 9, 2025, at 51 East Main Street, American Fork, Utah 84003. Authority for the Bonds. The Bonds are being issued pursuant to the Local Building Authority Act, Title 17D, Chapter 2 of the Utah Code Annotated 1953, as amended. Purpose for Issuing Bonds. The Authority intends to issue the Bonds for the purpose of (a) financing the cost of the acquisition and construction of improvements to and expansion of a public works facility (the 'Project') and (b) paying costs of issuance relating to the issuance, sale and delivery of the Bonds. The estimated annual amount that the Authority will be required to pay in principal and interest on the Bonds is $3,280,000. Type of Bonds and Annual Lease Payment. The Bonds are expected to be issued and sold by the Authority as lease revenue bonds pursuant to an Indenture of Trust (the 'Indenture'), a Master Lease Agreement (the 'Lease') between the Authority and the City and a Ground Lease (the 'Ground Lease') between the Authority and the City. The expected annual amount of lease payments that the City will pay under the Lease is $3,280,000. Time, Place and Location of Public Hearings. The City Council and the Board of Trustees will hold public hearings to (a) explain the reasons for the issuance of the Bonds, (b) provide members of the public an opportunity to present testimony on the proposed issuance of the Bonds and (c) receive input from the public with respect to the issuance of the Bonds and the Project during meetings that begin at approximately 7:00 p.m. on December 9, 2025. The public hearing will be held at 51 East Main Street, American Fork, Utah 84003. All members of the public are invited to attend and participate in the public hearings. Prior to the public hearings, written comments may be submitted to the Authority, to the attention of the City Recorder, 51 East Main Street, American Fork, Utah 84003. DATED November 11, 2025. AMERICAN FORK CITY, UTAH and LOCAL BUILDING AUTHORITY OF AMERICAN FORK CITY, UTAH
- Notice of Special Accommodations (ADA)
- NOTICE OF SPECIAL ACCOMMODATION DURING PUBLIC MEETINGS In compliance with the Americans with Disabilities Act, individuals needing special accommodations (including auxiliary communicative aids and services) during this meeting should notify Terilyn Lurker at 801-763-3000.
- Notice of Electronic or Telephone Participation
- NA
Meeting Information
- Meeting Location
-
31 N. Church Street
American Fork, UT 84003
Show in Apple Maps Show in Google Maps - Contact Name
- Terilyn Lurker
- Contact Email
- tlurker@americanfork.gov
- Contact Phone
- (801)763-3000
Notice Posting Details
- Notice Posted On
- November 12, 2025 02:17 PM
- Notice Last Edited On
- November 13, 2025 07:53 AM