Sandy City special bond election

The question on your ballot

Shall the City Council (the “Council”) of Sandy City, Utah (the “City”), be authorized to issue General Obligation Bonds in an amount not to exceed Thirty Million Dollars ($30,000,000) (the “Bonds”) for the purpose of financing all or a portion of the costs of acquiring, developing, constructing, renovating, improving, preserving, equipping, and furnishing the former Crescent View Middle School Property, or portions thereof, for community, recreation, arts, cultural, park, open-space, trail, municipal, and related public purposes, including parking, site and utility access, and all related improvements; said Bonds to be due and payable in not to exceed twenty one (21) years from the date of issuance of the Bonds?

Property Tax Cost of Bonds: If the Bonds are issued as planned a property tax sufficient to pay debt service on the Bonds will be required over a period of twenty one (21) years in the estimated average amount of $59.98 per year ($5.00 per month) on a $739,100 primary residence and in the estimated amount of $109.06 per year ($9.09 per month) on a business property having the same value.

The foregoing information is only an estimate and is not a limit on the amount of taxes that the Council may be required to levy to pay debt service on the Bonds. The Council is obligated to levy taxes to the extent provided by law in order to pay the Bonds. The amounts are based on various assumptions and estimates, including estimated debt service on the Bonds and taxable values of property in Sandy City, Utah.