The Municipal Building Authority of the City of South Jordan has issued a notice of a public hearing regarding the proposed issuance of Lease Revenue Bonds, Series 2026. The authority adopted a resolution on September 15, 2026, declaring its intention to issue the bonds to fund municipal projects.
The purpose of the upcoming public hearing is to receive community input regarding the proposed bonds and any potential economic impact the financed improvements or properties may have on the private sector. The hearing is scheduled for October 6, 2026, at 6:30 p.m. at the South Jordan City offices located at 1600 W. Towne Center Drive.
The authority intends to use the bond proceeds to finance the acquisition and construction of a new fire station and related improvements, including a portion of fire training facilities located offsite. The bonds will also fund required deposits to a debt service reserve fund and associated issuance costs. The total principal amount of the bonds is intended to be no more than $27,000,000, with an estimated total debt service cost of $43,667,000 if held until maturity.
The bonds will be payable from revenues received by the authority through the annual leasing of the Series 2026 Project to the City. According to the notice, the authority currently has no outstanding bonds secured by lease revenues.
Per Utah law, a 30-day period following the posting of the notice allows interested persons to contest the legality of the resolution, indenture, lease, or bonds. Additionally, active voters within the City may sign a written petition to request an election to authorize the bond issuance. If a petition is signed by at least 20% of active voters, the authority must hold an election before issuing the bonds.
The resolution and associated forms are available for examination at the City offices during regular business hours. For more information, the notice directs inquiries to Secretary-Treasurer Anna Crookston.
