FINANCIAL_SERVICESAPPROVED

Grantsville City Council Meeting Agenda Packet February 2026

Grantsville City Approves $50M Sewer Revenue Bonds Sale

Not to exceed $50,000,000 (aggregate principal amount), estimated total $98,649,387 principal and interestCity of GrantsvilleSTATE OF UTAH DEPARTMENT OF ENVIRONMENTAL QUALITY WATER QUALITY BOARDFebruary 4, 2026

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Description

Grantsville City Council approved the issuance and sale of up to $50 million in Sewer Revenue Bonds to finance sewer system improvements. The State of Utah Department of Environmental Quality Water Quality Board will purchase the bonds, with a term of up to 34 years and estimated debt service of $98.6 million. The transaction is subject to a public hearing as required by law.

Contract Details

Contract Amount

Not to exceed $50,000,000 (aggregate principal amount), estimated total $98,649,387 principal and interest

Vendor

STATE OF UTAH DEPARTMENT OF ENVIRONMENTAL QUALITY WATER QUALITY BOARD

Agency

City of Grantsville, UT

Contract Type

FINANCIAL_SERVICES

Document Date

February 4, 2026

Contract Term

Up to 34 years from issuance; principal payments begin July 1 following issuance, annual payments thereafter

Renewal Date

2060-07-01

Renewal Info

Bonds may be optionally redeemed at any time in whole or part; refinancing or defeasance allowed per Master Resolution. Amortization period up to 34 years. Series 2026 issued on parity with prior 2018 and 2024 Sewer Bond issues.

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