Utah County holds hearing Wednesday on up to $30 million public works bonds

Utah County residents can weigh in Wednesday, Nov. 4, at 2 p.m. on up to $30 million in sales tax revenue bonds to pay for a new public works facility. The County Commission's hearing is in Room 1400 at 100 East Center Street in Provo. ^[1]

The commission adopted a resolution authorizing the Series 2026 bonds on Oct. 7, according to the county's notice, which is dated Oct. 12. The bonds would be repaid with revenue from the county option sales and use tax, plus any other sales or excise taxes the county is legally able to pledge. The notice says $420,000 of existing debt is already secured by those revenues. ^[1]

The notice sets the limits: a maximum principal of $30 million, a maturity of no more than 21 years, a maximum interest rate of 6.5%, and a sale price of at least 98% of principal. Proceeds would pay for construction of the facility and related improvements, any debt service reserve fund, and the costs of issuing the bonds. The county estimates total principal and interest of $37,561,157 if the bonds are held to maturity. ^[1]

The notice says the public may attend and participate in the hearing. The resolution and indenture are on file with the Utah County Clerk at 100 East Center Street, Monday through Friday from 8 a.m. to 5 p.m. State law gives 30 days from publication for anyone to contest the resolution, the indenture, the bonds or their security. ^[1]

The county reserves the right not to issue the bonds for any reason up to the time they are issued. The notice does not say whether the commission will vote on the bonds at the hearing. ^[1]

A county notice shows a 1 p.m. budget work session on Nov. 3 was canceled. ^[2] The county's public notices page lists a separate 10 a.m. work session the same day on the 2027 budget. ^[3]