Public Hearing - Revision 1
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General Information
- Government Type
- Municipality
- Entity
- Eagle Mountain
- Public Body
- City Council
Notice Information
- Notice Title
- Public Hearing
- Notice Type(s)
- Meeting, Hearing
- Event Start Date & Time
- March 5, 2026 05:30 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 February 17, 2026, the City Council (the 'Council') of Eagle Mountain City, Utah (the 'City'), adopted a resolution (the 'Resolution') in which it authorized the issuance of the City's Water and Sewer Revenue Bonds, Series 2026 (the 'Series 2026 Bonds') (to be issued in one or more series and with such other series or title designation(s) as may be determined by the City), and called a public hearing to receive input from the public. TIME, PLACE, LOCATION AND PURPOSE OF PUBLIC HEARING The City shall hold a public hearing on March 5, 2026, at the hour of 5:30 p.m. at 1650 East Stagecoach Run, Eagle Mountain City, Utah 84005. The purpose of the hearing is to receive input from the public with respect to (a) the issuance of the Series 2026 Bonds for the Project described herein and (b) any potential economic impact that the public infrastructure to be financed with the proceeds of the Series 2026 Bonds may have on the private sector. All members of the public are invited to attend and participate. PURPOSE FOR ISSUING THE SERIES 2026 BONDS The Series 2026 Bonds will be issued for the purpose of (a) financing improvements to its water and sewer system and all related improvements (collectively, the 'Project'), (b) funding any debt service reserve funds, as desirable, and (c) paying costs of issuance of the Series 2026 Bonds. PARAMETERS OF THE SERIES 2026 BONDS The City intends to issue the Series 2026 Bonds in the aggregate principal amount of not more than Two Hundred Twenty Million Dollars ($220,000,000), to mature in not more than thirtyfive (35) years from their date or dates, to be sold at a price not less than ninety-seven percent (97%) of the total principal amount thereof and bearing interest at a rate or rates not to exceed six and one-half percent (6.50%) per annum. The Series 2026 Bonds are to be issued and sold by the City pursuant to the Resolution, including as part of said Resolution a General Indenture of Trust and a Supplemental Indenture of Trust (together, the 'Indenture'), which were before the Council in substantially final form at the time of the adoption of the Resolution. REVENUES PROPOSED TO BE PLEDGED The Series 2026 Bonds are special limited obligations of the City payable from the net revenues of the City's water and sewer system (the 'System'). OUTSTANDING BONDS SECURED BY REVENUES The City currently has $13,129,000 of bonds outstanding secured by the net revenues of the System. OTHER OUTSTANDING BONDS OF THE CITY Additional information regarding the City's outstanding bonds may be found in the City'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 the Administrative Services Director, at (801) 789-6600. TOTAL ESTIMATED COST OF SERIES 2026 BONDS Based on an estimate of the current interest rate and financing plan, the total principal and interest cost of the Series 2026 Bonds, if held until maturity, is $434,835,000. A copy of the Resolution and the Indenture are on file in the office of the City Recorder at 1650 E. Stagecoach Run, Eagle Mountain, Utah, where they may be examined during regular business hours of the City Recorder from 7:30 a.m. to 5:30 p.m. Monday through Friday, 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 Indenture (only as it pertains to the Series 2026 Bonds), or the Series 2026 Bonds, or any provision made for the security and payment of the Series 2026 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 February 17th, 2026. /s/ Lacie Messerly City Recorder
- Notice of Special Accommodations (ADA)
- In compliance with the Americans with Disabilities Act, individuals needing special accommodations (including auxiliary communicative aids and services) during this meeting should notify 801-789-6610 at least 3 working days prior to the meeting.
- Notice of Electronic or Telephone Participation
- NA
Meeting Information
- Meeting Location
-
1650 Stage Coach Run
Eagle Mountain, UT 84005
Show in Apple Maps Show in Google Maps - Contact Name
- Gina Olsen
- Contact Email
- golsen@eaglemountain.gov
- Contact Phone
- 801-789-6611
Notice Posting Details
- Notice Posted On
- February 18, 2026 11:33 AM
- Notice Last Edited On
- February 18, 2026 02:43 PM
Download Attachments
| File Name | Category | Date Added |
|---|---|---|
| CCPH 03.05.2026 - Notice of Issue of Water and Sewer Revenue Bonds - PH.pdf | Other | 2026/02/18 11:32 AM |