Notice of Public Hearing (TEFRA) - Revision 1
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General Information
- Government Type
- State Agency
- Entity
- Office of State Treasurer
- Public Body
- Utah Charter School Finance Authority
Notice Information
- Notice Title
- Notice of Public Hearing (TEFRA)
- Notice Type(s)
- Notice, Meeting, Hearing, Bond
- Event Start Date & Time
- August 11, 2026 09:00 AM
- Event End Date & Time
- August 11, 2026 09:30 AM
- Description/Agenda
- NOTICE OF PUBLIC HEARING AND NOTICE OF BONDS TO BE ISSUED NOTICE IS HEREBY GIVEN that on July 23, 2026, the Utah Charter School Finance Authority (the 'Authority') adopted a resolution (the 'Resolution') declaring its intent to issue charter school revenue bonds in an amount not to exceed $75,000,000, to bear interest at interest rates not to exceed 6.0% per annum, which interest may be federally taxable or tax-exempt, to mature in not more than 40 years, and to be sold to the purchasers thereof at a discount of not more than 3% of the principal amount thereof (the 'Bonds') pursuant to the Charter School Financing Act, Title 53G, Chapter 5, Part 6, Utah Code Annotated 1953, as amended, and the Utah Industrial Facilities and Development Act, Title 11, Chapter 17, Utah Code Annotated 1953, as amended (collectively, the 'Act'). The Authority or its designee shall hold a public hearing on August 11, 2026 at 9:00 a.m., at the offices of the State Treasurer, C180 State Capitol Complex (Room 180 in the State Capitol), Salt Lake City, Utah to receive input from the public with respect to the issuance of the Bonds and the financing of the costs of the Facilities (as defined below). The Authority proposes to loan the proceeds of the Bonds to Utah Charter Academies, a Utah nonprofit corporation, dba American Preparatory Academy of Draper, dba American Preparatory Academy - Draper 2, dba American Preparatory Academy and the School for New Americans and dba American Preparatory Academy Accelerated School (the 'Borrower'), pursuant to the terms of a loan agreement (the 'Loan Agreement') for the purpose of (i) refunding certain outstanding obligations of the Borrower, (ii) financing the acquisition, construction, equipping and furnishing of certain charter school facilities, including the construction of an auditorium at the Borrower's West Valley 2 Campus (the 'West Valley 2 2026 Expansion'), the construction of an expansion of the Borrower's Salem campus (the 'Salem 2026 Expansion'), and the acquisition and construction of a new charter school campus in Eagle Mountain, Utah (the 'Eagle Mountain Campus') (collectively, the West Valley 2 2026 Expansion, the Salem 2026 Expansion, and the Eagle Mountain Campus' are referred to herein as the 'Facilities'), (iii) funding a debt service reserve fund, and (iv) paying certain expenses in connection with the Bonds. The West Valley 2 2026 Expansion consists of an approximately 48,851 square-foot auditorium proximate to the Borrower's existing 160,375 square-foot West Valley 2 Campus, which is located on approximately 9.95 acres at 3636 West 3100 South, West Valley, Utah. The Salem 2026 Expansion consists of an approximately 36,530 square-foot expansion on an additional approximately 3.96 acres of land proximate to the Borrower's existing 44,012 square-foot Salem Campus, which is located on approximately 8.72 acres at 1195 South Elk Ridge Drive, Salem, Utah. The Eagle Mountain Campus consists of an approximately 65,398 square-foot charter school facility located on approximately 8.0 acres at or proximate to the southwest corner of Tyson Parkway and Desert Sage Drive, Eagle Mountain, Utah. The Facilities are or will be owned and operated by the Borrower. The Bonds will be special obligations of the Authority payable solely from the trust estate pledged under a Trust Indenture between the Authority and Zions Bancorporation, National Association, as trustee thereunder (collectively, the 'Indenture'). The Bonds and the interest thereon will not be a general obligation debt of the Authority, the State of Utah or any political subdivision thereof, and none of the Authority, the State of Utah nor any political subdivision thereof will be liable thereon, and in no event will the Bonds or the interest thereon be payable out of any funds or properties other than those expressly provided therefor under the Indenture. The Bonds shall be issued in an aggregate principal amount of up to $75,000,000. All members of the public are invited to attend and participate in the public hearing. Written comments may be submitted to the Utah Charter School Finance Authority, Utah State Treasurer, C180 State Capitol Complex, Salt Lake City, Utah 84114, Attention Chief Deputy State Treasurer. Written comments should be mailed in sufficient time to be received before the August 11, 2026, public hearing. Additional information can be obtained from the Authority at its office shown above or by calling (801) 538-1042. Subsequent to the public hearing, the Governor of the State of Utah will consider approving the issuance of the Bonds. NOTICE IS FURTHER GIVEN that a period of 30 days after the date of 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, the Loan Agreement 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 July 23, 2026. UTAH CHARTER SCHOOL FINANCE AUTHORITY
- Notice of Special Accommodations (ADA)
- In compliance with the Americans with disabilities Act, individuals needing special accommodations during this meeting should notify Reba Arndt, Administrative Assistant, at Room 180 State Capitol Building, 801-538-1042.
- Notice of Electronic or Telephone Participation
- One or more members of the Authority will participate via telephonic conference originated by the Chair, and the meeting shall be an electronic meeting, and the anchor location shall be the offices of the State Treasurer set forth above, within the meanin
Meeting Information
- Meeting Location
-
350 N. State Street Ste 180
Salt Lake City, UT 84114
Show in Apple Maps Show in Google Maps - Contact Name
- Kirt Slaugh
- Contact Email
- kslaugh@utah.gov
- Contact Phone
- (801)538-1472
Notice Posting Details
- Notice Posted On
- July 27, 2026 05:13 PM
- Notice Last Edited On
- July 27, 2026 05:20 PM
Download Attachments
| File Name | Category | Date Added |
|---|---|---|
| UCA Notice of Bonds and Public Hearing.docx | Other | 2026/07/27 05:13 PM |