In general Cities in Utah can do three types of bonds. Each bond is treated differently in regards to their terms, and how the money is collected to pay them off.
Special Assessment Area (SAA), or Special Improvement Districts (SID’s)
“The areas were established to finance the acquisition and construction of specific improvements that developers and the
City did not finance on their own.
To finance these Districts, the City issues bonds in its name under a Special Revenue arrangement. Developers/landowners are assessed annually, on a per acre basis, to determine the amount of money required to pay the debt service on the bonds. All lots sold or transferred within the area are required to pay the entire assessment at the time of sale or transfer of ownership. This money, known as a prepayment, is used to pay debt service on bonds. Land that has thus been sold or title-transferred is removed from the annual assessment list.”
Revenue Bonds
“Currently, the City has no debt resulting from General Obligation Bonds. Because of this lack of debt, the City has not officially adopted the State’s legal debt limit for such bonds. Since there is no debt due to such bonds, the City is not concerned about exceeding the legal debt limit. If General Obligation Bonds are secured in the future, the City will ensure through its fiscal policies that the State’s legal debt limit is not exceeded.
State statute limits the amount of general obligation debt a governmental entity may issue to 4% of its total taxable value. The assessed value of the City at the end of FY 2015 was $714,063,591, allowing a debt limit of $28,562,544. Additionally, state statute allows for an additional 8% to be used for water, sewer, or other The City has used revenue bonds to pay for improvements to the utility systems. Revenues from the City’s water and sewer utilities are pledged for the repayment of debt. Revenue bonds are perceived as having fewer resources available for repayment as compared to General Obligation (GO) Bonds, and therefore do not receive as low interest rates as GO Bonds.”
General Obligation Bonds
“The City currently has no General Obligation debts. GO Bonds work by pledging the full faith and resources of the City to pay debt obligations. These are considered safer than revenue bonds and therefore the City can obtain better interest rates on GO Bonds. However, GO Bonds require voter approval via ballot whereas revenue bonds do not. The City has attempted to issue GO Bonds in the past, but citizens voted down the bonds.”
Eagle Mountain Bond List
This list of bonds was supplied to me by the city. I then went through the city council meeting notes to verify the amounts, and to get the dates and voting records associated with each bond. Some of the bonds were not contained in the minutes, or I had trouble finding them. I have included any supplemental sources in the Additional Resources section at the bottom of the page. If you find any inconsistencies, or errors, please let me know.
– Oct 9, 1997 $1,215,000 Telecommunication Revenue Bond Anticipation Notes, Series 1997 (Item C.1)
– Oct 9, 1997 $1,350,000 Gas And Electric Revenue Bond Anticipation Notes, Series 1997 (Item C.2)
– Oct 9, 1997 $4,910,000 Water and Sewer Revenue Anticipation Notes, Series 1997 (Item C.3)
Council Members: (Aye) Nick Berg, Diane Bradshaw
Mayor: Debbie Hooge (Aye)
Resolution 97-36
– Dec 16, 1997 $2,195,000 Utah Special Improvement District No. 97-1 (Item C.5)
Council Members: (Aye) Nick Berg, Diana Bradshaw, John Jacob, and Cyril Watt
Mayor: Debbie Hooge (Abstained)
98-3 Sweetwater Road/Storm Drainage Phase I
– Dec 8, 1998 $5,090,000 (Item 9)
Council Members: (Aye) Dan Valentine, Bill Chipman, Diane Bradshaw, and Cyril Watt
Mayor: (Aye) Robert E. Bateman
– Dec 8, 1998 $1,470,000 Water and Sewer Revenue Bond Anticipation Notes (Item 10)
Council Members: (Aye) Dan Valentine, Bill Chipman, Diane Bradshaw, and Cyril Watt
Mayor: (Aye) Robert E. Bateman
– May 4, 1999 $12,105,000 (Roads, Water, Sewer, Telecommunications, Electric, Gas, parks, Landscaping, Miscellaneous Work) (Item 13)
City Council: Dan Valentine (Aye), Diane Bradshaw (Aye), and Cyril Watt (abstained)
Mayor: Rober E. Bateman (Aye)
– Jul 5, 2000 – Payments made to John Newman for The Ranches Parkway and Pony Express Parkway Overlay
– Mar 7, 2000 – Amount not in City Council Minutes, only vote recorded. (Item 12)
“approve Resolution #04-00, a Facilities Funding Resolution along with Exhibit 1, Utility Improvements and Timing Costs for the north and south service area.”
City Council: (Aye) Dave Albrecht, Greg Kehl, Brigham Morgan, Dan Valentine
Mayor: Paul Bond (Aye)
– Aug 15, 2000 – $6,000,000 Telecommunications Revenue Bond, Series 2000 (Item 11)
City Council: (Aye) Dave Albrecht, Greg Kehl, Bret Ankrom
Mayor: Paul Bond (Aye)
– Aug 29, 2000 – $7,500,000 Aggregate Principal Amount of Telecommunications Revenue Bonds, Series 2000 (Item 5)
City Council: (Aye) Dave Albrecht, Bret Ankrom, Greg Kehl, and Brigham Morgan
Mayor: Paul Bond (Aye)
– Oct 17, 2000 – Telecommunications Revenue Bonds, Series 2000 (Item 9) No amount Given in Minutes
City Council: (Aye) Dave Albrecht, Bret Ankrom, Greg Kehl, Brigham Morgan
Mayor: Paul Bond (Aye)
– Oct 17, 2000 – $21,000,000 Gas and Electric Revenue Bonds, Series 2000 (Item 10)
City Council: (Aye) Dave Albrecht, Bret Ankrom, Greg Kehl, Brigham Morgan
Mayor: Paul Bond (Aye)
– Oct 17, 2000 – $9,500,000 Water and Sewer Revenue Bonds, Series 2000 (Item 11)
City Council: (Aye) Dave Albrecht, Bret Ankrom, Greg Kehl, Brigham Morgan
Mayor: Paul Bond (Aye)
– Dec 5, 2000 – $23,000,000 Gas and Electric Revenue Bonds, Series 2000 (Item 13)
City Council: (Aye) Dave Albrecht, Bert Ankrom, Greg Kehl, and Brigham Morgan
Mayor: Paul Bond (Aye)
– Dec 21, 2000 $8,700,000 – Water and Sewer Revenue Bonds, Series 2000 (Item 4)
City Council: (Aye) Dave Albrecht, Bert Ankrom, Greg Kehl, and Brigham Morgan
Mayor: Paul Bond (Excused)
– Dec 21, 2000 – Amendment of an Equipment Lease-Purchase Agreement with First National Bank of Layton (Item 5)
City Council: (Aye) Dave Albrecht, Bert Ankrom, Greg Kehl, and Brigham Morgan
Mayor: Paul Bond (Excused)
– Mar 20, 2001 – $22,000,000 – Gas and Electric Revenue Bonds, Series 2001 (Item 18)
City Council: (Aye) Dave Albrecht, Bert Ankrom, Greg Kehl, and Brigham Morgan
Mayor: Paul Bond (Aye)
– Apr 17, 2001 Gas and Electric bond. (Item 13)
City Council: (Aye) Dave Albrecht, Gret Kehl, and Brigham Morgan
Mayor: Paul Bond (Excused)
– Apr 25, 2001 – $11,935,000 SID 2000-1 (Item 5)
City Council: (Aye) Dave Albrecht, and Bret Ankrom
Mayor: Paul Bond (Aye)
– August 23, 2001 (Resolution 22-2001) No minutes found for this meeting on city website, resolution in link, contains agenda for the meeting. This bond was the only item on the agenda.
City Council: (Aye) David Albrecht, Greg Kehl, Brigham Morgan, and Mark Lofgren
Mayor: Kelvin Baily
– June 15, 2004 $1,500,000 Excise Tax Road Bonds, Series 2004 (Item 25)
City Council: (Aye) Linn Strouse, David Blackburn, Vincent Liddiard, and Mark Madsen
Mayor: Kelvin Baily (excused)
– August 3, 2004 (Item 19)
City Council: (Aye) David Blackburn, Vincent Liddiard, Diane Jacob, Mark Madsen
Mayor: Kelvin Bailey
– August 25, 2004 (Item 16)
Note: Minutes not on City Website, received copy through GRAMA request. Response from City Recorder via email, “A copy of the minutes are attached. I’m not sure why but they were never officially approved. I’ve attached a draft copy that has been edited, not for content but to remove incomplete sentences that didn’t make sense; however, none of the motions have been modified from the original version.”
City Council : (Aye) Linn Strouse, David Blackburn, Vincent Liddiard, Diane Jacob, and Mark Madsen
Mayor: Kelvin Bailey
– August 2, 2005 (Item 1)
City Council: (Aye) David Blackburn, Vincent Liddiard, Brian Olsen, Janiece Sloan, and Linn Strouse
Mayor: David Lifferth
– September 14, 2005 (Item 1) Special Session
City Council: (Aye) David Blackburn (telephone), Vincent Liddiard (telephone), Janiece Sloan, Brian B. Olsen, and Linn Strouse
Mayor: Pro Tem Vincent Liddard
– February 7, 2006 (Item ?? Page 6)
City Council: (Aye) David Blackburn, Heather Jackson, Vincent Liddiard, David Lifferth and Linn Strouse.
Mayor: Brian B. Olsen
– March 7, 2006 (Item ?? Page 19)
City Council: (Aye) David Blackburn, Heather Jackson, Vincent Liddiard, David Lifferth, and Linn Strouse
Mayor: Brian B. Olsen
– June 5, 2007 $16,500,00 Water and Sewer Revenue and Refunding Bonds Series 2007 (Item ?? Page 11)
City Council: (Aye) David Lifferth, David Blackburn, Vincent Liddiard, Linn Strouse, and Heather Jackson
Mayor: Don Richardson
– June 5, 2007 (Item ?? Page 8)
City Council: (Aye) David Blackburn, Heather Jackson, Vincent Liddiard, and David Lifferth
Mayor: Don D. Richardson
– February 5, 2008 (Item 17)
City Council: (Aye) Donna Burnham, Eric Cieslak, Ryan Ireland, David LIfferth, and Nathan Oschenshirt
Mayor: heather Jackson
– June 17, 2008 (Item 22)
City Council: (Aye) Donna Burnham, Eric Cieslak, Ryan Ireland, David Lifferth
Mayor: Heather Jackson
– July 15, 2008 (Item 19)
City Council: (Aye) Donna Burnham, Eric Cieslak, Ryan Ireland, David LIfferth, and Nathan Oschsenhirt
Mayor: Heather Jackson
– August 19, 2008 (Item 27)
City Council: (Aye) Donna Burnham, Eric Cieslak, David Lifferth, Nathan Ochesenbhirt, and (Nay) Ryan Ireland
Mayor: Heather Jackson
– March 2, 2010 (Item 12)
VOTE to Have City Staff look into it ($10,250,000).
City Council: (Aye) Donna Burnham, Eric Cieslak, Nathan Ochsenhirt, John Painter, and (Nay) Ryan Ireland
Mayor: Heather Jackson
– March 16, 2010 (Item 16)
VOTE to put it to election ($7,000,000)
City Council: (Aye) Eric Cieslak, Nathan Ochsenhirt, John Painter, (Nay) Donna Burnham, and Ryan Ireland
Mayor: Heather Jackson
– May 4, 2010 – Motion to move to general, not primary election. (Item 15)
City Council: (Aye) Donna Burnham, Eric Cieslak, Nathan Ochesnhirt, John Painter, and (Nay) Ryan Ireland
Mayor: Heather Jackson
-May 3, 2011 $12,800,000 (Item 26)
City Council: (Aye) Donna Burnham, Jonathan Celaya, Nathan Ochsenhirt, John Painter, and (Nay) Ryan Ireland
Mayor: Heather Jackson
– August 2, 2011 (Item 12)
City Council: (Aye) Donna Burnham, Jonathan Celaya, Nathan Ochsenhirt, John Painter, and Ryan Ireland
Mayor: Heather Jackson
– October 15, 2013 (Item 13)
City Council: (Aye) Donna Burnham, John Painter, Ryan Ireland, Richard Steinkopf, Nathan Ochsenhirt
Mayor: Heather Jackson
– November 18, 2014 (Item 17)
City Council: (Aye) Adam Bradley, Donna Burnham, Ryan Ireland, Richard Steinkopf, Tom Westmoreland
Mayor: Chris Pengra
– February 17,2015 (Item 17)
City Council: (Aye) Donna Burnham, Adam Bradley, Ryan Ireland, Richard Steinkopf, Tom Westmoreland
Mayor: Chris Pengra
– March 17, 2015 $600,000 Sewer Revenue Bond(Item 14)
City Council: (Aye) Donna Burnham, Adam Bradley, Ryan Ireland, Richard Steikopf, Tom Westmoreland
Mayor: Chris Pengra
– October 17, 2017 $5,000,000 (Item 13A)
City Council: (Aye) Adam Bradley, Colby Curtis, Stephanie Gricius, and Tom Westmoreland
Mayor: John Painter
– October 17, 2017 $1,500,000 (Item 13B)
City Council: (Aye) Adam Bradley, Stephanie Gricius, Tom Westmoreland, and (Nay) Colby Curtis
Mayor: John Painter
Additional Resources
Eagle Mountain Adopted/Operating Budget – Fiscal Year 2017-2018
Aug 24, 2004 CC Minutes – were not located on the website.
Email about Aug, 24, 2004 CC Minutes from City Recorder
Resolution 22-2001
Resolution 07-2011 (GRAMA request Documents)
Details for Resolutions 07-2011 and 12-2011
Resolution 07-2011 (GRAMA request Documents)
2011-12 Document 1, Document 2, Document 3, Document 4, Document 5
Mike Kieffer – Editor-in-Chief, Cedar Valley Sentinel
Mike Kieffer is a dynamic leader and community advocate based in Eagle Mountain, Utah. He serves as the Editor-in-Chief of the Cedar Valley Sentinel, a local publication dedicated to informing, inspiring, and elevating the Cedar Valley community through honest and accurate journalism. With a passion for fostering connections, Kieffer has made it his mission to highlight local businesses, provide reliable news, and support community development.
Beyond his editorial role, Kieffer is the owner of Lake Mountain Media, LLC, a company specializing in media and communications, and the co-owner of Quail Run Farms, which focuses on sustainable farming and community engagement. He also actively contributes to the local economy and culture as a member of the Eagle Mountain Chamber of Commerce.
Kieffer’s dedication extends to preserving and promoting the history and heritage of the Cedar Valley area. He often participates in community-centered events and media, including podcasts that explore the unique aspects of life in the region. Through his varied endeavors, he remains a steadfast advocate for the growth and enrichment of the local community.