Recorder's Office

INVITATION TO SUBMIT ARGUMENTS FOR OR AGAINST GENERAL OBLIGATION BONDS

The November 5, 2019, General Election ballot will include General Obligation Bonds. The ballot title shall read as follows:

AMERICAN FORK FIRE STATION BOND

Shall American Fork City, Utah be authorized to issue General Obligation Bonds in a principal amount not to exceed $8,500,000 and to mature in no more than 21 years from the date or dates of issuance of such bonds for the purpose of paying all or a portion of the costs of purchasing real property, acquiring, constructing, and equipping a new fire station ("Station") and related improvements?

If the Bonds are issued as planned, without regard to the taxes currently levied for outstanding bonds that will reduce over time, an annual property tax to pay debt service on the proposed bonds will be required over a period of 21 years in the estimated amount of $38.94 per year on a $ 300,000 primary residence and in the estimated amount of $70.80 per year on a business having the same value. 

The City has other outstanding bonds for which a tax decrease would occur upon the retirement of such bonds, which may not occur if the proposed bonds are issued.

The foregoing information is only an estimate and is not a limit on the amount of taxes that the City may be required to levy to pay debt service on the bonds. The City is obligated to levy taxes to the extent provided by law in order to pay the bonds.

To vote in favor of the above bond issue, select the box immediately adjacent to the words “FOR THE ISSUANCE OF BONDS.” To vote against the bond issue, select the box immediately adjacent to the words “AGAINST THE ISSUANCE OF BONDS.”

             FOR THE ISSUANCE OF BONDS (YES)

            AGAINST THE ISSUANCE OF BONDS (NO)

Any eligible voter may request to submit an argument for or against the Bonds in accordance with Utah State Code §59-1-1604. Requests to submit an argument must be filed with the election officer (American Fork City Recorder) no later than September 3rd at 5 p.m. Requests may be submitted at the American Fork city recorder’s office at 51 East Main Street, American Fork, Utah, or emailed terilyn@afcity.net. For more information, please contact the city recorder at 801-763-3000.


NOTICE OF PUBLIC HEARING

AMERICAN FORK CITY, UTAH

PUBLIC NOTICE IS HEREBY GIVEN that on August 20, 2019, the City Council (the “City Council”) of American Fork City, Utah (the “City”) adopted a resolution (the “Resolution”), providing for a local special bond election to be held in the City on Tuesday, November 5, 2019, for the purpose of submitting to the qualified electors of the City the question of the issuance of general obligation bonds in an amount not to exceed $8,500,000 (the “Local Special Bond Election”) and calling a public hearing to receive input from the public with respect to the issuance of general obligation bonds and the potential economic impact that the improvement, facility, or property for which the bonds pay all or part of the cost will have on the private sector, pursuant to the Section 11-14-318 of the Utah Code Annotated 1953, as amended.

If approved by eligible voters at the Local Special Bond Election, the City intends to issue general obligation bonds for the purpose of raising money paying all or a portion of the costs of for the purpose of paying all or a portion of the costs of acquiring, constructing, and equipping a new fire station ("Station").

If approved by eligible voters at the Local Special Bond Election, the City intends to

issue general obligation bonds in an amount not to exceed $8,500,000 in one or more series at
one or more times.

The City proposes to pledge the full faith and credit of the City for the payment of its general obligation bonds and will be obligated to levy and collect ad valorem taxes sufficient to pay the general obligation bonds, as provided by law.

The City will hold a public hearing during its City Council meeting which begins at 7:00 p.m. on September 10, 2019. The public hearing will be held at the regular meeting place of the City Council in the Council Chambers, 31 North Church Street, in American Fork, Utah. All members of the public are invited to attend and participate in the public hearing. Prior to the public hearing, written comments may be submitted to the City, to the attention of the City Recorder.

DATED this 20th day of August, 2019.

AMERICAN FORK CITY, UTAH




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 August 13, 2019, the City Council (the “Council”) of American Fork City, Utah (the “Issuer”), adopted a resolution (the “Resolution”) in which it authorized the issuance of the Issuer’s Telecommunication, Franchise and Sales Tax Revenue Bonds, Series 2019 (the “Series 2019 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 that portion of the Series 2019 Bonds issued under the Act and (b) any potential economic impact that the Project described herein to be financed with the proceeds of the Series 2019 Bonds issued under the Act may have on the private sector.

TIME, PLACE AND LOCATION OF PUBLIC HEARING

The Issuer shall hold a public hearing on September 24, 2019, at the hour of 7:00 p.m. at 31 North Church Street, American Fork City, Utah.  The purpose of the hearing is to receive input from the public with respect to (a) the issuance of that portion of the Series 2019 Bonds issued under the Act and (b) any potential economic impact that the Project to be financed with the proceeds of that portion of the Series 2019 Bonds issued under the Act may have on the private sector.  All members of the public are invited to attend and participate.

PURPOSE FOR ISSUING THE SERIES 2019 BONDS

The Series 2019 Bonds will be issued for the purpose of (a) financing all or a portion of the expansion and upgrade of the Issuer’s existing broadband infrastructure, including any contingencies (the “Project”); (b) funding any debt service reserve funds, as necessary; (c) paying capitalized interest; and (d) paying costs of issuance of the Series 2019 Bonds. 

PARAMETERS OF THE SERIES 2019 BONDS

The Issuer intends to issue the Series 2019 Bonds in the aggregate principal amount of not more than Thirty-five Million Dollars ($35,000,00), to mature in not more than thirty-two (32) 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 five and one-half percent (5.50%) per annum.  The Series 2019 Bonds are to be issued and sold by the Issuer pursuant to the Resolution, including as part of said Resolution, a General and a Supplemental Indenture (together, the “Indenture”) which were before the Council in substantially final form at the time of the adoption of the Resolution and said Indenture 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 Series 2019 Bonds will not exceed the maximums set forth above.  The Issuer reserves the right to not issue the Series 2019 Bonds for any reason and at any time up to the issuance of the Series 2019 Bonds.

REVENUES PROPOSED TO BE PLEDGED

The Issuer proposes to pledge all or any portion of the revenues produced by franchise taxes, sales taxes and broadband utility fees collected by the Issuer and legally permitted to be used for the Project (the “Revenues”).

OUTSTANDING BONDS SECURED BY PLEDGED REVENUES

The Issuer currently has $3,645,000 of bonds outstanding secured by one of the sources of 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/SearchReport.  For additional information, including any information more recent than as of the date of the Financial Report, please contact Kyle Maurer, Finance Director at (801) 763-3000.

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 Series 2019 Bonds to be issued under the Act to finance the  Project, if held until maturity, is $67,652,000.

A copy of the Resolution and the Indenture are on file in the office of the American Fork City Recorder, 51 E. Main Street, American Fork City, Utah, where they may be examined during regular business hours of the City Recorder from 7:00 a.m. to 6:00 p.m., Monday through Thursday and 8:00 a.m. to 4:00 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 Indenture or the Series 2019 Bonds, or any provision made for the security and payment of the Series 2019 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 August 13, 2019.

                  /s/ Terilyn Lurker, CMC                  

City Recorder



The following documents are searchable City Council agendas and minutes:

  • 1996 City Council Agendas and Minutes
  • 1997 City Council Agendas and Minutes
  • 1999 City Council Agendas and Minutes
  • 2000 City Council Agendas and Minutes
  • 2001 City Council Agendas and Minutes
  • 2002 City Council Agendas and Minutes
  • 2003 City Council Agendas and Minutes
  • 2004 City Council Agendas and Minutes
  • 2005 City Council Agendas and Minutes
  • 2006 City Council Agendas and Minutes
  • 2007 City Council Agendas and Minutes
  • 2010 City Council Agendas and Minutes
  • 2011 City Council Agendas and Minutes


The following documents are searchable Planning Commission agendas and minutes:

  • 1996Planning Commission Agendas and Minutes
  • 1997 Planning Commission Agendas and Minutes
  • 1998 Planning Commission Agendas and Minutes
  • 1999 Planning Commission Agendas and Minutes
  • 2000 Planning Commission Agendas and Minutes
  • 2001 Planning Commission Agendas and Minutes
  • 2002 Planning Commission Agendas and Minutes
  • 2003 Planning Commission Agendas and Minutes
  • 2004 Planning Commission Agendas and Minutes
  • 2005 Planning Commission Agendas and Minutes
  • 2006 Planning Commission Agendas and Minutes
  • 2007 Planning Commission Agendas and Minutes
  • 2008 Planning Commission Agendas and Minutes
  • 2009 Planning Commission Agendas and Minutes
  • 2010Planning Commission Agendas and Minutes
  • 2011 Planning Commission Agendas and Minutes