City Council Agenda and Packet

10.5.2023 Council Meeting Link

NOTICE OF PUBLIC HEARING

 NOTICE IS HEREBY GIVEN pursuant to the provisions of the Local Government Bonding Act, Title 11, Chapter 14, Utah Code Annotated 1953, as amended, that on August 22, 2023, the City Council (the "Council") of Park City, Utah (the "City"), adopted a resolution (the "Resolution") in which it authorized the calling of an election (the "Election") concerning a proposition for the issuance of the City's General Obligation Bonds (the "Bonds") and called a public hearing to receive input from the public with respect to (a) the issuance of the Bonds and (b) any potential economic impact that the improvements, facilities or properties financed in whole or in part with the proceeds of the Bonds (see below) may have on the private sector.

TIME, PLACE, AND LOCATION OF PUBLIC HEARING

The Council shall hold a public hearing on October 5, 2023, at the hour of 5:30 p.m. in the City offices, located at 445 Marsac Avenue, Park City, Utah. All members of the public are invited to attend and participate.

PURPOSE FOR ISSUING THE BONDS, MAXIMUM AMOUNT AND SECURITY

The Bonds are to be issued in the aggregate principal amount of not to exceed $30,000,000 for the purpose of financing all or a portion of the costs associated with constructing, improving, furnishing, and equipping new and existing City recreational facilities. These include but are not limited to expanded fitness facilities, field lights, indoor and outdoor pickleball courts, Nordic area, refrigerated outdoor ice sheet, and support maintenance facilities, and paying costs of issuance of the Bonds. The Bonds shall be secured by ad valorem property taxes of the City to the extent authorized by law.

The Bonds may be issued in one or more series and be sold from time to time, all as the Council may determine. 

DATED this August 23, 2023.

Michelle Kellogg, City Recorder