027 of 2020 - Public Utilities Revenue Bond (WIFIA Loan) Series 2020B4820-7356-7930, v. 5
Salt Lake City, Utah
August 18, 2020
The City Council (the “Council”) of Salt Lake City, Utah (the “City”), met in
regular session at the regular meeting place of the Council in Salt Lake City, Utah, at 7:00
p.m. on Tuesday, August 18, 2020, with the following members present:
Present:
Chris Wharton Chair
Andrew Johnston Vice Chair
Dan Dugan Council Member
Amy Fowler Council Member
Darin Mano Council Member
James Rogers Council Member
Ana Valdemoros Council Member
There were also present:
Erin Mendenhall Mayor
Katherine N. Lewis City Attorney
Absent:
After the meeting had been duly called to order and after other matters not pertinent
to this Resolution had been discussed, a Certificate of Compliance with Open Meeting Law
with respect to this August 18, 2020 meeting was presented to the Council, a copy of which
is attached hereto.
The following resolution was then introduced in written form, was fully discussed,
and pursuant to motion duly made by Council Member Amy Fowler and seconded by
Council Member Andrew Johnston, was adopted by the following vote:
AYE: Unanimous
NAY:
The resolution is as follows:
R 20-1
Q 20-3
4820-7356-7930, v. 5 2
RESOLUTION NO. 27 of 2020
A RESOLUTION OF THE CITY COUNCIL OF SALT LAKE CITY,
UTAH (THE “ISSUER”), AUTHORIZING THE ISSUANCE AND SALE
OF NOT MORE THAN $348,635,000 AGGREGATE PRINCIPAL
AMOUNT OF PUBLIC UTILITIES REVENUE BOND (WIFIA LOAN),
SERIES 2020B; FIXING THE MAXIMUM AGGREGATE PRINCIPAL
AMOUNT OF THE BONDS, THE MAXIMUM NUMBER OF YEARS
OVER WHICH THE BONDS MAY MATURE, THE MAXIMUM
INTEREST RATE WHICH THE BONDS MAY BEAR, AND THE
MAXIMUM DISCOUNT FROM PAR AT WHICH THE BONDS MAY
BE SOLD; PROVIDING FOR THE PUBLICATION OF A NOTICE OF
BONDS TO BE ISSUED; PROVIDING FOR THE RUNNING OF A
CONTEST PERIOD; AUTHORIZING THE EXECUTION BY THE
ISSUER OF A SUPPLEMENTAL INDENTURE, A WIFIA LOAN
AGREEMENT, AND OTHER DOCUMENTS REQUIRED IN
CONNECTION THEREWITH; AUTHORIZING THE TAKING OF ALL
OTHER ACTIONS NECESSARY TO THE CONSUMMATION OF THE
TRANSACTIONS CONTEMPLATED BY THIS RESOLUTION; AND
RELATED MATTERS.
WHEREAS, pursuant to the provisions of the Local Government Bonding Act,
Title 11, Chapter 14, Utah Code Annotated 1953, as amended (the “Bond Act”), the City
Council (the “Council”) of Salt Lake City, Utah (the “Issuer”), is authorized to issue Public
Utilities Revenue Bonds (to be issued in one or more series and with such other series or
title designation(s) as may be determined by the Issuer) payable from the net revenues of
its existing water, sewer, storm drain and street lighting systems (collectively, the
“System”) for the municipal purposes set forth therein; and
WHEREAS, subject to the limitations set forth herein, the Issuer desires to issue its
Public Utilities Revenue Bond (WIFIA Loan), Series 2020B (the “WIFIA Bond”) to (a)
finance the reconstruction of the Issuer’s Water Reclamation Facility (the “Project”) and
(b)pay costs of issuance of the WIFIA Bond, pursuant to this Resolution, the Bond Act,
the WIFIA Loan Agreement (defined hereinbelow), a Master Trust Indenture, dated as of
January 1, 2004, as heretofore amended and supplemented (the “Master Indenture”),
between the Issuer and U.S. Bank National Association, as trustee (the “Trustee”), and a
Tenth Supplemental Indenture to be entered into between the Issuer and the Trustee (the
“Tenth Supplemental Indenture” and collectively with the Master Indenture, the
“Indenture”), in substantially the form presented to the meeting at which this Resolution
was adopted and which is attached hereto as Exhibit B; and
WHEREAS, in order to obtain funding for a portion of the costs of the Project, the
Issuer has submitted an application for participation in the programs enabled by the federal
Water Infrastructure Finance and Innovation Act, as amended (“WIFIA”), administered by
the United States Environmental Protection Agency (the “WIFIA Credit Provider”)
pursuant to WIFIA, as amended by Section 1445 of the Fixing America’s Surface
Transportation Act of 2015, as further amended by Section 5008 of the Water Infrastructure
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Q 20-3
4820-7356-7930, v. 5 3
Improvements for the Nation Act of 2016 and by Section 4201 of America’s Water
Infrastructure Act of 2018, which is codified as 33 U.S.C. §§ 3901-3914 (the “Federal
Act”); and
WHEREAS, the WIFIA Credit Provider has agreed to provide financing for the
Project in a principal amount not to exceed $348,635,000 (excluding capitalized interest
thereon) subject to the terms of the WIFIA Loan Agreement (the “WIFIA Loan
Agreement”) between the Issuer and the WIFIA Credit Provider, in substantially the form
presented to the meeting at which this Resolution was adopted and which is attached hereto
as Exhibit C; and
WHEREAS, to enable the Issuer’s participation in the WIFIA program and the
execution and delivery of the WIFIA Loan Agreement and to evidence the borrowing from
the WIFIA Credit Provider contemplated by the WIFIA Loan Agreement , the Issuer
proposes to issue and deliver to the WIFIA Credit Provider the WIFIA Bond in the
principal amount not to exceed $348,635,000, such not to exceed principal amount
representing the not to exceed principal amount of the WIFIA Loan Agreement; and
WHEREAS, the Council hereby finds and determines that each and all of the
conditions precedent to the issuance of the WIFIA Bond on a parity with and co-equal in
priority and lien to the existing revenue bond indebtedness of all bonds issued under the
Master Indenture have, or can and will be satisfied prior to or upon the issuance of the
WIFIA Bond; and
WHEREAS, the Bond Act provides that prior to issuing bonds, an issuing entity
must (a) give notice of its intent to issue such bonds and (b) hold a public hearing to receive
input from the public with respect to (i) the issuance of the bonds and (ii) the potential
economic impact that the improvement, facility or property for which the bonds pay all or
part of the cost will have on the private sector; and
WHEREAS, the Council has called for and will hold a public hearing on September
1, 2020 for the purpose set forth in the preceding recital and desires to ratify the publication
of a notice of such hearing with respect to the WIFIA Bond, in compliance with the Act;
and
WHEREAS, in order to allow the Issuer, in consultation with the Issuer’s Municipal
Advisor, Stifel, Nicolaus & Company, Incorporated (the “Municipal Advisor”) flexibility
in finalizing the issuance of the WIFIA Bond, the Council desires to grant to (a) the Mayor
or, in the event of the absence or incapacity of the Mayor, the Mayor’s Chief of Staff, or in
the event of the absence or incapacity of both the Mayor and the Mayor’s Chief of Staff,
the City Treasurer and (b) the Chair of the City Council or, in the event of the absence or
incapacity of the Chair of the City Council, the Vice Chair of the City Council, or in the
event of the absence or incapacity of both the Chair and the Vice Chair of the City Council,
the most senior member of the City Council then available (collectively, the “Designated
Officers”), the authority to determine whether the WIFIA Bond should be issued, to finalize
the terms and conditions of the WIFIA Loan Agreement, and to make any changes with
respect thereto from those terms which were before the Council at the time of adoption of
4820-7356-7930, v. 5 4
this Resolution, provided such terms do not exceed the parameters set forth for such terms
in this Resolution (the “Parameters”);
NOW, THEREFORE, it is hereby resolved by the City Council of Salt Lake City,
Utah, as follows:
Section 1. For the purpose of financing the Project and paying costs of issuance
of the WIFIA Bond, the Issuer hereby authorizes the issuance of the WIFIA Bond which
shall be designated “Salt Lake City, Utah Public Utilities Revenue Bond (WIFIA Loan),
Series 2020B” (to be issued from time to time as one or more series and with such other
series or title designation(s) as may be determined by the Issuer) in the initi al aggregate
principal amount of not to exceed $348,635,000. The WIFIA Bond shall mature in not
more than thirty-nine (39) years from its date or dates, shall be sold at a price not less than
ninety-nine percent (99%) of the total principal amount thereof, shall bear interest at a rate
or rates not to exceed four percent (4.0%) per annum, and may be non-callable or subject
to redemption, all as shall be approved by the Designated Officers in consultation with the
Issuer’s Municipal Advisor, all within the Parameters.
Section 2. The Tenth Supplemental Indenture and the WIFIA Loan
Agreement, in substantially the forms presented at this meeting and attached hereto as
Exhibits B and C, respectively, are hereby authorized, approved, and confirmed. The
Mayor or the Mayor’s Chief of Staff as the Mayor’s designee (collectively referred to
herein as the “Mayor”) are hereby authorized to execute and deliver and the City Recorder
or Deputy City Recorder (the “City Recorder”) to attest or countersign, the Tenth
Supplemental Indenture and the WIFIA Loan Agreement in substantially the forms and
with substantially the content as the forms presented at this meeting for and on behalf of
the Issuer, with final terms as may be established by the Designated Officers, in
consultation with the Municipal Advisor, within the Parameters, and with such alterations,
changes or additions as may be necessary or as may be authorized by Section 3 hereof.
The Designated Officers are each hereby authorized to specify and agree as to the final
principal amounts, terms, discounts, maturities, interest rates, and redemption features with
respect to the WIFIA Bond for and on behalf of the Issuer, provided that such terms are
within the Parameters.
Section 3. The appropriate officials of the Issuer are authorized to make any
alterations, changes, deletions or additions to the Indenture, the WIFIA Loan Agreement,
the WIFIA Bond, or any other document herein authorized and approved which may be
necessary to conform the same to the final terms of the WIFIA Bond (within the
Parameters), to conform to any applicable insurance or to remove the same, to correct errors
or omissions therein, to complete the same, to remove ambiguities therefrom, or to conform
the same to other provisions of said instruments, to the provisions of this Resolution or any
resolution adopted by the Council or the provisions of the laws of the State of Utah or the
United States. The execution thereof by the Mayor on behalf of the Issuer shall
conclusively establish such necessity, appropriateness, and approval with respect to all
such additions, modifications, deletions, and changes incorporated therein.
4820-7356-7930, v. 5 5
Section 4. The form, terms, and provisions of the WIFIA Bond and the
provisions for the signatures, authentication, payment, registration, transfer, exchange,
redemption, and number shall be as set forth in the Indenture. The Mayor and City
Recorder are hereby authorized and directed to execute and seal the WIFIA Bond and to
deliver said WIFIA Bond to the Trustee for authentication. The signatures of the Mayor
and the City Recorder may be by electronic, facsimile or manual execution.
Section 5. The appropriate officials of the Issuer are hereby authorized and
directed to execute and deliver to the Trustee the written order of the Issuer for
authentication and delivery of the WIFIA Bond in accordance with the provisions of the
Indenture.
Section 6. Upon its issuance, the WIFIA Bond will constitute a special limited
obligation of the Issuer payable solely from and to the extent of the sources set forth in the
WIFIA Bond, the WIFIA Loan Agreement and the Indenture. No provision of this
Resolution, the Indenture, the WIFIA Bond, the WIFIA Loan Agreement, or any other
instrument, shall be construed as creating a general obligation of the Issuer, or of creating
a general obligation of the State of Utah or any political subdivision thereof, or as incurring
or creating a charge upon the general credit of the Issuer or its taxing powers.
Section 7. The appropriate officials of the Issuer, and each of them, are hereby
authorized and directed to execute and deliver for and on behalf of the Issuer any or all
additional certificates, documents and other papers (including, without limitation, any
reserve instrument guaranty agreements permitted by the Indenture) and to perform all
other acts they may deem necessary or appropriate in order to implement and carry out the
matters authorized in this Resolution and the documents authorized and approved herein.
Section 8. The Issuer shall hold a public hearing on September 1, 2020, to
receive input from the public with respect to (a) the issuance of the WIFIA Bond, and (b)
the potential economic impact that the improvements to be financed with the proceeds of
the WIFIA Bond will have on the private sector, which hearing date shall not be less than
fourteen (14) days after notice of the public hearing is first published (i) once a week for
two consecutive weeks in The Salt Lake Tribune and the Deseret News, newspapers of
general circulation in the Issuer, (ii) on the Utah Public Notice Website created under
Section 63F-1-701, Utah Code Annotated 1953, as amended, and (iii) on the Utah Legal
Notices website (www.utahlegals.com) created under Section 45-1-101, Utah Code
Annotated 1953, as amended. The Issuer hereby ratifies the publication of a “Notice of
Public Hearing Regarding Bonds to be Issued” in substantially the form attached hereto as
Exhibit D-1.
The Issuer will cause a “Notice of Bonds to be Issued” to be published (i) one time
in The Salt Lake Tribune and the Deseret News, newspapers of general circulation in the
Issuer, (ii) on the Utah Public Notice Website created under Section 63F-1-701, Utah Code
Annotated 1953, as amended, and (iii) on the Utah Legal Notices website
(www.utahlegals.com) created under Section 45-1-101, Utah Code Annotated 1953, as
amended, in substantially the form attached hereto as Exhibit D-2. The City Recorder shall
cause a copy of this Resolution (together with all exhibits hereto) to be kept on file
4820-7356-7930, v. 5 6
electronically and at 349 South 200 East, Salt Lake City, Utah, for public examination
during the regular business hours of the Issuer until at least thirty (30) days from and after
the date of publication thereof.
Section 9. The Issuer hereby reserves the right to opt not to issue the WIFIA
Bond for any reason, including without limitation, consideration of the opinions express ed
at the public hearing.
Section 10. All resolutions or parts thereof in conflict herewith are, to the extent
of such conflict, hereby repealed and this Resolution shall be in full force and effect
immediately upon its approval and adoption.
Section 11. Upon the issuance of the WIFIA Bond, this Resolution shall be and
remain irrepealable until the principal of, premium, if any, and interest on the WIFIA Bond
is deemed to have been duly discharged in accordance with the terms and provisions of the
Indenture.
4820-7356-7930, v. 5 7
ADOPTED this August 18, 2020.
Chair
(SEAL)
Attest and Countersign:
___________________________________
City Recorder
Approved as to form:
Salt Lake City Attorney’s Office
__________________________
Boyd Ferguson, Senior City Attorney
Date:
Boyd Ferguson (Aug 20, 2020 11:28 MDT)
Boyd Ferguson
08/20/2020
Chris Wharton (Aug 27, 2020 22:49 MDT)
Chris Wharton
Cindy Trishman (Sep 3, 2020 12:35 MDT)
4820-7356-7930, v. 5 8
PRESENTATION TO THE MAYOR
The foregoing resolution was presented to the Mayor for her approval or
disapproval on August 18, 2020.
By:
Chair
MAYOR’S APPROVAL OR DISAPPROVAL
The foregoing resolution is hereby approved on this August 18, 2020.
By:
Mayor
Chris Wharton (Aug 27, 2020 22:49 MDT)
Chris Wharton
erin mendenhall (Sep 1, 2020 14:03 MDT)
4820-7356-7930, v. 5 9
STATE OF UTAH )
: ss.
COUNTY OF SALT LAKE )
I, Cindy Lou Trishman, the duly appointed and qualified City Recorder of Salt Lake
City, Utah (the “City”), do hereby certify according to the records of the City Council of
the City (the “City Council”) in my official possession that the foregoing constitutes a true
and correct excerpt of the minutes of the meeting of the City Council held on August 18,
2020, including a resolution (the “Resolution”) adopted at said meeting as said minutes
and Resolution are officially of record in my possession.
I further certify that:
(a)the Resolution, with all exhibits attached, was deposited in my office on
August 18, 2020 by electronic means;
(b)a Notice of Public Hearing Regarding Bonds to be Issued was (i) published
one time each week for two consecutive weeks in The Salt Lake Tribune and the Deseret
News, newspapers having general circulation within the City, with the first publication no
less than fourteen (14) days before September 1, 2020 (the “Public Hearing Date”), (ii)
posted on the Utah Public Notice Website created under Section 63F-1-701, Utah Code
Annotated 1953, as amended, no less than fourteen (14) days before the Public Hearing
Date and (iii) posted on the Utah Legal Notices website (www.utahlegals.com) created
under Section 45-1-101, Utah Code Annotated 1953, as amended, no less than fourteen
(14) days before the Public Hearing Date; and
(c)a Notice of Bonds to be Issued will be (i) published one time in The Salt
Lake Tribune and the Deseret News, newspapers having general circulation within the
City, (ii) posted on the Utah Public Notice Website created under Section 63F-1-701, Utah
Code Annotated 1953, as amended and (iii) posted on the Utah Legal Notices website
(www.utahlegals.com) created under Section 45-1-101, Utah Code Annotated 1953, as
amended.
IN WITNESS WHEREOF, I have hereunto subscribed my signature and impressed
hereon the official seal of said City, this August 18, 2020.
(SEAL)
By:
City Recorder
Cindy Trishman (Sep 3, 2020 12:35 MDT)
4820-7356-7930, v. 5 A-1
EXHIBIT A
CERTIFICATE OF COMPLIANCE WITH
OPEN MEETING LAW
I, Cindy Lou Trishman, the undersigned City Recorder of Salt Lake City, Utah (the
“City”), do hereby certify, according to the records of the City in my official possession,
and upon my own knowledge and belief, that in accordance with the requirements of
Section 52-4-202, Utah Code Annotated, 1953, as amended, I gave not less than twenty-
four (24) hours public notice of the agenda, date, time and place of the August 18, 2020,
public meeting held by the City Council of the City (the “City Council”) as follows:
(a)By causing a copy of such Notice, in the form attached hereto as
Schedule 1, to be delivered to a newspaper of general circulation within the City at
least twenty-four (24) hours prior to the convening of the meeting; and
(b)By causing a copy of such Notice, in the form attached hereto as
Schedule 1, to be posted on the Utah Public Notice Website (http://pmn.utah.gov)
at least twenty-four (24) hours prior to the convening of the meeting.
Due to Infectious Disease COVID-19 Novel Coronavirus, this public meeting will
be held electronically in accordance with Executive Order 2020 -5 Suspending the
Enforcement of Provisions of Utah Code 52-4-202 and 52-4-207 issued by Governor
Herbert on March 18, 2020, and negating the requirement for an anchor location and
subsequent posting of the Notice at the anchor location. The public may monitor or listen
to open portions of the meeting electronically by following the instructions in the Notice.
No physical meeting location will be available.
In addition, the Notice of 2020 Annual Meeting Schedule for the City Council
(attached hereto as Schedule 2) was given specifying the date, time, and place of the regular
meetings of the City Council to be held during the year, by causing said Notice to be (a)
posted on December 30, 2019 at the principal office of the City Council, (b) provided to at
least one newspaper of general circulation within the City on January 2, 2020 and (c)
published on the Utah Public Notice Website (http://pmn.utah.gov) during the current
calendar year.
IN WITNESS WHEREOF, I have hereunto subscribed my official signature this
August 18, 2020.
(SEAL)
By:
City Recorder
Cindy Trishman (Sep 3, 2020 12:35 MDT)
4820-7356-7930, v. 5 A-2
SCHEDULE 1
NOTICE OF MEETING
SALT LAKE CITY COUNCIL
AGENDA
FORMAL MEETING
August 18, 2020 Tuesday 7:00 PM
This meeting will be an electronic meeting pursuant to the Salt Lake City
Emergency Proclamation.
SLCCouncil.com
CITY COUNCIL MEMBERS:
Chris Wharton, Chair
District 3
Andrew Johnston, Vice Chair
District 2
James Rogers
District 1
Dan Dugan
District 6
Ana Valdemoros
District 4
Darin Mano
District 5
Amy Fowler
District 7
Generated: 15:26:50
This meeting will be an electronic meeting pursuant to the Chair’s determination that
conducting the City Council meeting at a physical location presents a substantial risk to the
health and safety of those who may be present at the anchor location.
The Salt Lake City Council Chair has determined that conducting a meeting at an anchor location under
the current state of public health emergency constitutes a substantial risk to the health and safety of
those who may attend in person. Moreover, the City & County Building, which is the anchor location for
Salt Lake City Council meetings, is presently closed for regular occupation due to damages sustained
during the March 2020 earthquakes. For these reasons, the Council Meeting will not have a physical
location at the City and County Building and all attendees will connect remotely.
Members of the public are encouraged to participate in meetings. We want to make sure everyone
interested in the City Council meetings can still access the meetings how they feel most comfortable. If
you are interested in watching the City Council meetings, they are available on the following platforms:
• Facebook Live: www.facebook.com/slcCouncil/
• YouTube: www.youtube.com/slclivemeetings
• Web Agenda: www.slc.gov/council/agendas/
• SLCtv Channel 17 Live: www.slctv.com/livestream/SLCtv-Live/2
If you are interested in participating during the Formal Meeting for the Public Hearings or general
comment period, you may do so by telephone or through the Webex platform. To learn how to connect
through these options, please visit our website provided above as web agenda or call us at
801-535-7654 to learn how you can share your comments live during the meetings.
As always, if you would like to provide feedback or comment, please call us or send us an email:
• 24-Hour comment line: 801-535-7654
• council.comments@slcgov.com
More info and resources can be found at: www.slc.gov/council/contact-us/
Upcoming meetings and meeting information can be found here: www.slc.gov/council/agendas/
We welcome and encourage your comments! We have Council staff monitoring inboxes and voicemail, as
always, to receive and share your comments with Council Members. All agenda-related and general
comments received in the Council office are shared with the Council Members and added to the public
meeting record. View comments by visiting the Council Virtual Meeting Comments page.
The standard order of the Formal Meeting Agenda will be adjusted to accommodate the electronic
meeting. General Comment and Public Hearings will be heard as one item. Speakers may speak for up to
two minutes per public hearing item or for a two-minute public comment. We ask speakers to conclude
their comment prior to beginning to speak to the next.
Please note: Dates not identified in the FYI - Project Timeline are either not applicable or not
yet determined.
WELCOME AND PUBLIC MEETING RULES
A. OPENING CEREMONY:
1. Council Member Chris Wharton will conduct the formal meetings.
2. Pledge of Allegiance.
3. Welcome and Public Meeting Rules.
B. PUBLIC HEARINGS:
Public Hearings and General Comments will be heard as one item.
1. Ordinance: Budget Amendment No. 1 for Fiscal Year 2020-2021
The Council will accept public comment about an ordinance that would amend the
final budget of Salt Lake City, including the employment staffing document, for
Fiscal Year 2020-21. Budget amendments happen several times each year to reflect
adjustments to the City’s budgets, including proposed project additions and
modifications. The proposed amendment includes Airport CARES Act grant
revenue and grant funding from the U.S. Department of Justice’s Coronavirus
Emergency Supplemental Funding Program.
FYI – Project Timeline: (subject to change per Chair direction or Council
discussion)
Briefing - Tuesday, July 14, 2020
Set Public Hearing Date - Tuesday, July 14, 2020
Hold hearing to accept public comment - Tuesday, August 11, 2020 and Tuesday
August 18, 2020 at 7 p.m.
TENTATIVE Council Action - Tuesday, August 18, 2020
(B 20-8)
Staff Recommendation - Refer to motion sheet(s).
2. Ordinance: Cumming’s Subdivision Alley Vacation (730-740 West and
900 South to Genesee Avenue)
The Council will accept public comment and consider adopting an ordinance that
would vacate an alley adjacent to properties owned by West End LLC, located at
approximately 730-740 West and 900 South to Genesee Avenue in the Cumming’s
Subdivision. The alley was partially vacated in 1993. The current petition proposes
the City vacate the remaining mid-block portion of the alley in order for West End
LLC to redevelop the site. The project was recently approved to receive
Redevelopment Agency (RDA) funding for a mixed-use development. The vacation
will not impact vehicle or property access to property owners west of the proposed
alley vacation. Petition No. PLNPCM2019-00813
FYI – Project Timeline: (subject to change per Chair direction or Council
discussion)
Briefing - Tuesday, July 7, 2020
Set Public Hearing Date - Tuesday, July 7, 2020
Hold hearing to accept public comment - Tuesday, August 11, 2020 and Tuesday,
August 18, 2020
TENTATIVE Council Action - Tuesday, August 18, 2020
(P 20-16)
Staff Recommendation - Refer to motion sheet(s).
3. Ordinance: Zoning Map Amendment at Approximately 5525 and 5575
West 1730 South
The Council will accept public comment and consider adopting an ordinance that
would rezone properties at 5525 and 5575 West 1730 South from CG (General
Commercial) to M-1 (Light Manufacturing). The properties are already developed
with two identical industrial buildings and occupied by tenants. The applicant has
no plans to redevelop the site but would like to allow more land uses and eliminate
maximum off-street parking. Consideration may be given to rezoning the property to
another zoning district with similar characteristics. Petition No. PLNPCM2019-
00726
FYI – Project Timeline: (subject to change per Chair direction or Council
discussion)
Briefing - Tuesday, July 7, 2020
Set Public Hearing Date - Tuesday, July 7, 2020
Hold hearing to accept public comment - Tuesday, August 11, 2020 and Tuesday,
August 18, 2020 at 7 p.m.
TENTATIVE Council Action - Tuesday, August 18, 2020
(P 20-12)
Staff Recommendation - Refer to motion sheet(s).
4. Ordinance: Rezone of Three Properties on 700 North (1616 West, 1632
West and 1640 West 700 North)
The Council will accept public comment and consider adopting an ordinance that
would rezone three properties on 700 North Street (1616 West, 1632 West and 1640
West 700 North) from R-1/5000 (Single-Family Residential) to CB (Community
Business). The applicant would like to consolidate the parcels and develop a
commercial use on the combined site. The consolidated parcel would be
approximately 50,000 square feet in size. No specific site development proposal
was submitted with this request. Consideration may be given to rezoning the
property to another zoning district with similar characteristics. Petition No.
PLNPCM2019-00923
FYI – Project Timeline: (subject to change per Chair direction or Council
discussion)
Briefing - Tuesday, July 7, 2020
Set Public Hearing Date - Tuesday, July 7, 2020
Hold hearing to accept public comment - Tuesday, August 11, 2020 and Tuesday,
August 18, 2020 at 7 p.m.
TENTATIVE Council Action - Tuesday, August 18, 2020
(P 20-13)
Staff Recommendation - Refer to motion sheet(s).
5. Ordinance: Rezone at 1612 West 700 North
The Council will accept public comment and consider adopting an ordinance that
would rezone the property at 1612 West 700 North from R-1/5000 (Single-Family
Residential) to CB (Community Business). The purpose of the rezone is to match
the CB zoning of adjacent parcels on the same block of 700 North Street. The
proposal would also accommodate future development of the property. No site
development proposal has been submitted at this time and the applicant has not
indicated what they plan to develop on the property. Consideration may be given to
rezoning the property to another zoning district with similar characteristics.
Petition No. PLNPCM2019-00986
FYI – Project Timeline: (subject to change per Chair direction or Council
discussion)
Briefing - Tuesday, July 7, 2020
Set Public Hearing Date - Tuesday, July 7, 2020
Hold hearing to accept public comment - Tuesday, August 11, 2020 and Tuesday,
August 18, 2020 at 7 p.m.
TENTATIVE Council Action - Tuesday, August 18, 2020
(P 20-14)
Staff Recommendation - Refer to motion sheet(s).
6. Ordinance: Rezone and Master Plan Amendment at 771 and 795 North
400 West
The Council will accept public comment and consider adopting an ordinance that
would amend the zoning map and future land use map for two properties at 771
North and 795 North 400 West. The proposal would change the properties from
M-1 (Light Industrial) to MU (Mixed Use) to allow redevelopment of the vacant
parcel at 771 North 400 West. The applicant would like to build a multi-family
housing development which is not allowed under the current M-1 zoning. No site
development proposal has been submitted at this time. Consideration may be
given to rezoning the property to another zoning district with similar
characteristics. Petition No. PLNPCM2019-01011 and Petition No. PLNPCM2019-
01095
FYI – Project Timeline: (subject to change per Chair direction or Council
discussion)
Briefing - Tuesday, July 7, 2020
Set Public Hearing Date - Tuesday, July 7, 2020
Hold hearing to accept public comment - Tuesday, August 11, 2020 and Tuesday,
August 18, 2020 at 7 p.m.
TENTATIVE Council Action - Tuesday, August 18, 2020
(P 20-15)
Staff Recommendation - Refer to motion sheet(s).
7. Ordinance: Transportation Impact Fees Facilities Plan (IFFP)
The Council will accept public comment and consider adopting an ordinance that
would update the Transportation section of the City’s Impact Fees Facilities Plan
(IFFP). The plan identifies fees for different land use types after an analysis of
existing services levels, anticipated growth, and capital improvements to maintain
service levels under higher demand. Impact fees are charges on new development
that pay for bigger demand on City facilities caused by population and employment
growth.
FYI – Project Timeline: (subject to change per Chair direction or Council
discussion)
Briefing - Tuesday, July 14, 2020
Set Public Hearing Date - Tuesday, August 11, 2020
Hold hearing to accept public comment - Tuesday, August 18, 2020 at 7 p.m.
TENTATIVE Council Action - Tuesday, August 18, 2020
(T 20-3)
Staff Recommendation - Refer to motion sheet(s).
C. COMMENTS:
1. Comments to the City Council. (Comments are taken on any item not scheduled
for a public hearing, as well as on any other City business. Comments are limited to
two minutes.)
2. Questions to the Mayor from the City Council.
D. POTENTIAL ACTION ITEMS:
1. Resolution: Capital Improvement Program Projects
The Council will consider adopting a resolution for project funding allocations in
the Capital Improvement Program, which involves the construction, purchase or
renovation of buildings, parks, streets or other physical structures. Generally,
projects have a useful life of five or more years and cost $50,000 or more.
FYI – Project Timeline: (subject to change per Chair direction or Council
discussion)
Briefing - Tuesday, July 14, 2020
Set Public Hearing Date - Tuesday, June 9, 2020
Hold hearing to accept public comment - Tuesday, July 14, 2020 and Tuesday,
August 11, 2020 at 7 p.m.
TENTATIVE Council Action - Tuesday, August 18, 2020
(B 20-1)
Staff Recommendation - Refer to motion sheet(s).
E. NEW BUSINESS:
1. Resolution: Establishing the Commission on Racial Equity in Policing
The Council will consider adopting a joint resolution with Mayor Mendenhall
establishing the Commission on Racial Equity in Policing.
FYI – Project Timeline: (subject to change per Chair direction or Council
discussion)
Briefing - Tuesday, August 18, 2020
Set Public Hearing Date -
Hold hearing to accept public comment -
TENTATIVE Council Action - Tuesday, August 18, 2020
(R 20-9)
Staff Recommendation - Suspend the rules and consider motions.
2. Advice and Consent: Director of the Community and Neighborhoods
Department – Blake Thomas
The Council will consider approving the appointment of Blake Thomas as Director
of the Community and Neighborhoods Department.
FYI – Project Timeline: (subject to change per Chair direction or Council
discussion)
Briefing - Tuesday, August 18, 2020
Set Public Hearing Date -
Hold hearing to accept public comment -
TENTATIVE Council Action - Tuesday, August 18, 2020
(I 20-27)
Staff Recommendation - Suspend the rules and consider motions.
F. UNFINISHED BUSINESS:
1. Resolution: Public Utilities Revenue Bond (WIFIA Loan) Series 2020B
The Council will consider adopting a resolution authorizing up to $348,635,000 of
public utilities revenue bond (Water Infrastructure Financing Innovation Act
(WIFIA) loan), Series 2020B; authorizing the execution of a supplemental
indenture, a loan agreement, and other documents; authorizing the taking of all
other necessary actions; and related matters.
FYI – Project Timeline: (subject to change per Chair direction or Council
discussion)
Briefing - Tuesday, August 18, 2020
Set Public Hearing Date - Tuesday, August 11, 2020
Hold hearing to accept public comment - Tuesday, September 1, 2020 at 7 p.m.
TENTATIVE Council Action - Tuesday, August 18, 2020
(Q 20-3)
Staff Recommendation - Refer to motion sheet(s).
G. CONSENT:
1. Ordinance: Rezone and Master Plan Amendment at 261 North
Redwood Road
The Council will set the dates of Tuesday, September 15, 2020 and Tuesday, October
6, 2020 at 7:00 p.m. to accept public comment and consider adopting an ordinance
that would amend the zoning map and Master Plan for a property located at
approximately 261 North Redwood Road. The applicant is requesting a Master Plan
amendment to change the Northwest Community Future Land Use Plan designation
from Low Density Residential to Medium Density Residential. The applicant is also
requesting a rezone to change the entire parcel to RMF-35 (Moderate Density Multi-
Family Residential) zoning district. Currently, the property is “split zoned” RMF-35
and R-1/5,000 (Single-family Residential District). The applicant states the rezone
would allow them to redevelop the site with additional housing. Future
development plans have not been submitted at this time. Consideration may be
given to another zoning district with similar characteristics. Petition No.
PLNPCM2019-01086 and Petition No. PLNPCM2019-01087
FYI – Project Timeline: (subject to change per Chair direction or Council
discussion)
Briefing - Tuesday, August 18, 2020
Set Public Hearing Date - Tuesday, August 18, 2020
Hold hearing to accept public comment - Tuesday, September 15, 2020 and
Tuesday, October 6, 2020 at 7 p.m.
TENTATIVE Council Action - Tuesday, October 6, 2020
(P 20-19)
Staff Recommendation - Set date.
2. Ordinance: Amendments to Chapter 18.44 Fire Prevention and
International Fire Code
The Council will set the dates of Tuesday, September 15, 2020 and Tuesday, October
6, 2020 at 7 p.m. to accept public comment and consider adopting an ordinance that
would modify Chapter 18.44 Fire Prevention Code to provide alternatives to the
“proximity to building” requirements found in Appendix D section 503.1 of the
International Fire Code. The proposed changes are intended to increase fire
protection methods for developments that cannot meet the proximity requirements
in the current code due to the location of the property line in
relation to the street. The proposal is also intended to provide some flexibility for
the Salt Lake City Fire Department in administering the International Fire Code
when determining the distance range that an aerial fire access road can be from a
building. Related sections of Title 18 – Buildings and Construction may also be
amended as part of this petition. Petition No. PLNPCM2019-00938
FYI – Project Timeline: (subject to change per Chair direction or Council
discussion)
Briefing - Tuesday, August 18, 2020
Set Public Hearing Date - Tuesday, August 18, 2020
Hold hearing to accept public comment - Tuesday, September 15, 2020 and
Tuesday, October 6, 2020 at 7 p.m.
TENTATIVE Council Action - Tuesday, October 6, 2020
(O 20-15)
Staff Recommendation - Set date.
3. Ordinance: Rezone at 989 East 900 South
The Council will set the dates of Tuesday, September 15, 2020 and Tuesday,
October 6, 2020 at 7 p.m. to accept public comment and consider adopting an
ordinance that would rezone the east half of a property at 989 East 900 South from
Residential/Business (RB) zoning district to Community Business (CB) zoning
district. The property is currently “split zoned” with the west half of the property
zoned CB and the east half zoned RB. The rezone to CB would make the property
one consistent zone. The applicant is requesting the rezone for a potential business
expansion and the existing zoning requirements are not conducive to the options
they are considering. Consideration may be given to another zoning district with
similar characteristics. Petition No. PLNPCM2020-00126
FYI – Project Timeline: (subject to change per Chair direction or Council
discussion)
Briefing - Tuesday, August 18, 2020
Set Public Hearing Date - Tuesday, August 18, 2020
Hold hearing to accept public comment - Tuesday, September 15, 2020 and
Tuesday, October 6, 2020 at 7 p.m.
TENTATIVE Council Action - Tuesday, October 6, 2020
(P 20-20)
Staff Recommendation - Set date.
4. Ordinance: Budget Amendment No. 2 for Fiscal Year 2020-21
The Council will set the date of Tuesday, September 1, 2020 at 7 p.m. to accept public
comment and consider adopting an ordinance that would amend the final budget of
Salt Lake City, including the employment staffing document, for Fiscal Year 2020-
21. Budget amendments happen several times each year to reflect adjustments to the
City’s budgets, including proposed project additions and modifications. The
proposed amendment includes Coronavirus Aid, Relief, and Economic Security
(CARES) Act funding for personnel costs related to pandemic response, expansion of
the City’s Youth and Family program to help with childcare and education, and
funding for housing assistance, among other items.
FYI – Project Timeline: (subject to change per Chair direction or Council
discussion)
Briefing - Tuesday, August 18, 2020
Set Public Hearing Date - Tuesday, August 18, 2020
Hold hearing to accept public comment - Tuesday, September 1, 2020 at 7 p.m.
TENTATIVE Council Action - Tuesday, September 15, 2020
(B 20-9)
Staff Recommendation - Set date.
5. Board Appointment: Housing Trust Fund Advisory Board – Scott
Cuthbertson
The Council will consider approving the appointment of Scott Cuthbertson to the
Housing Trust Fund Advisory Board for a term ending December 25, 2023.
FYI – Project Timeline: (subject to change per Chair direction or Council
discussion)
Briefing - Tuesday, August 18, 2020 Set
Public Hearing Date -
Hold hearing to accept public comment -
TENTATIVE Council Action - Tuesday, August 18, 2020
(I 20-14)
Staff Recommendation - Approve.
6. Board Appointment: Community Development and Capital
Improvement Programs Advisory Board (CDCIP) – Elke Opsahl
The Council will consider approving the appointment of Elke Opsahl to the CDCIP
Advisory Board for a term ending June 5, 2023.
FYI – Project Timeline: (subject to change per Chair direction or Council
discussion)
Briefing - Tuesday, August 18, 2020 Set
Public Hearing Date -
Hold hearing to accept public comment -
TENTATIVE Council Action - Tuesday, August 18, 2020
(I 20-21)
Staff Recommendation - Approve.
7. Board Appointment: Community Development and Capital
Improvement Programs Advisory Board (CDCIP) Advisory Board –
Jason Motley
The Council will consider approving the appointment of Jason Motley to the
CDCIP Advisory Board for a term extending through June 5, 2023.
FYI – Project Timeline: (subject to change per Chair direction or Council
discussion)
Briefing - Tuesday, August 18, 2020 Set
Public Hearing Date -
Hold hearing to accept public comment -
TENTATIVE Council Action - Tuesday, August 18, 2020
(I 20-21)
Staff Recommendation - Approve.
8. Board Reappointment: Community Development and Capital
Improvement Programs (CDCIP) Advisory Board – Brooke Young
The Council will consider approving the reappointment of Brooke Young to the
CDCIP Advisory Board for a term ending June 6, 2022. Brooke is replacing At Large
member Thaddeus Schulte, who resigned July 23, 2020.
FYI – Project Timeline: (subject to change per Chair direction or Council
discussion)
Briefing -
Set Public Hearing Date -
Hold hearing to accept public comment -
TENTATIVE Council Action - Tuesday, August 18, 2020
(I 20-21)
Staff Recommendation - Approve.
9. Board Reappointment: Human Rights Commission – Jason Wessel
The Council will consider approving the reappointment of Jason Wessel to the
Human Rights Commission for a term ending December 25, 2023.
FYI – Project Timeline: (subject to change per Chair direction or Council
discussion)
Briefing -
Set Public Hearing Date -
Hold hearing to accept public comment -
TENTATIVE Council Action - Tuesday, August 18, 2020
(I 20-20)
Staff Recommendation - Approve.
10. Board Reappointment: Human Rights Commission – Wisam
Khudhair
The Council will consider approving the reappointment of Wisam Khudhair to the
Human Rights Commission for a term ending December 25, 2023. Wisam is
replacing At Large member Mailee Yang, who resigned June 26, 2020.
FYI – Project Timeline: (subject to change per Chair direction or Council
discussion)
Briefing -
Set Public Hearing Date -
Hold hearing to accept public comment -
TENTATIVE Council Action - Tuesday, August 18, 2020
(I 20-20)
Staff Recommendation - Approve.
11. Board Reappointment: Mosquito Abatement District – Carlton
Christensen
The Council will consider approving the reappointment of Carlton Christensen to
the Mosquito Abatement District Board for a term ending December 31, 2024.
This is a Council-appointed position, therefore an Administrative Recommendation
letter is not included.
FYI – Project Timeline: (subject to change per Chair direction or Council
discussion)
Briefing -
Set Public Hearing Date -
Hold hearing to accept public comment -
TENTATIVE Council Action - Tuesday, August 18, 2020
(I 20-3)
Staff Recommendation - Approve.
H. ADJOURNMENT:
CERTIFICATE OF POSTING
On or before 5:00 p.m. on Thursday, August 13, 2020, the undersigned, duly appointed City Recorder,
does hereby certify that the above notice and agenda was (1) posted on the Utah Public Notice
Website created under Utah Code Section 63F-1-701, and (2) a copy of the foregoing provided to The
Salt Lake Tribune and/or the Deseret News and to a local media correspondent and any others who
have indicated interest.
CINDY LOU TRISHMAN
SALT LAKE CITY RECORDER
Final action may be taken in relation to any topic listed on the agenda, including but
not limited to adoption, rejection, amendment, addition of conditions and variations
of options discussed.
People with disabilities may make requests for reasonable accommodation, which may include
alternate formats, interpreters, and other auxiliary aids and services. Please make requests at least
two business days in advance. To make a request, please contact the City Council Office at
council.comments@slcgov.com, 801-535-7600, or relay service 711.
4820-7356-7930, v. 5 A-3
SCHEDULE 2
ANNUAL MEETING SCHEDULE
2020 MEETING SCHEDULE FOR SALT LAKE CITY
COUNCIL & REDEVELOPMENT AGENCY (RDA) 12/30/19
1
Public Notice is hereby given that the 2020 Annual Meeting Schedule of the City Council of Salt
Lake City, Utah, shall be as follows:
Council Meetings are held in the City and County Building, 451 South State Street, Salt Lake City,
Utah. Council Meetings usually include a 2 p.m. WORK SESSION (Room 326) and a 7 p.m.
FORMAL SESSION (Room 315).
All meetings of the City Council are open to the public unless closed pursuant to Sections 52-4-204,
52-4-205 and 78B-1-137, Utah Code Annotated. Notice of each meeting is given at least 24 hours
in advance of the meeting as required by State law. An agenda of each meeting is posted at:
• Salt Lake City Council website www.slccouncil.com
• State of Utah Public Notice website www.utah.gov/pmn/index.html
Meetings in addition to those listed below may be held or canceled as circumstances may require,
subject to applicable public notice requirements.
Notice:
• The City & County Building is an accessible facility with a street-level entrance located on
the east side of the building. People with disabilities may make requests for reasonable
accommodation, which may include alternate formats, interpreters, and other auxiliary aids,
and services. Please make requests at least two business days in advance. To make a
request, please contact the City Council Office
at council.comments@slcgov.com, 801-535-7600, or relay
service 711.
• In accordance with State statute, City ordinance, and Council policy, one or more Council
Members may be connected via speakerphone.
January Meetings
• Monday, January 6
Oath of Office Ceremony at 12 p.m.
• Tuesday, January 7
Council Work Session & Formal Meeting
• Tuesday, January 14
RDA Meeting & Council Work Session
• Tuesday, January 21
Council Work Session & Formal Meeting
February Meetings
• Tuesday, February 4
Council Work Session & Formal Meeting
• Tuesday, February 11
RDA Meeting & Council Work Session
• Tuesday, February 18
Council Work Session & Formal Meeting
March Meetings
• Tuesday, March 3
Council Work Session & Formal Meeting
• Tuesday, March 17
2020 MEETING SCHEDULE FOR SALT LAKE CITY
COUNCIL & REDEVELOPMENT AGENCY (RDA) 12/30/19
2
RDA Meeting & Council Work Session
• Tuesday, March 24
Council Work Session & Formal Meeting
April Meetings
• Tuesday, April 7
Council Work Session & Formal Meeting
• Tuesday, April 14
RDA Meeting & Council Work Session
• Tuesday, April 21
Council Work Session & Formal Meeting
May Meetings
• Tuesday, May 5
Council Work Session & Formal Meeting
• TENTATIVE - Thursday, May 7
Council Work Session Only (as needed for
budget)
• Tuesday, May 12
RDA Meeting & Council Work Session
• TENTATIVE - Thursday, May 14
Council Work Session Only (as needed for
budget)
• Tuesday, May 19
Council Work Session & Formal Meeting
• Thursday, May 21
Council Work Session Only
• Tuesday, May 26
Council Work Session Only
• TENTATIVE - Thursday, May 28
Council Work Session Only (as needed
for budget
2020 MEETING SCHEDULE FOR SALT LAKE CITY
COUNCIL & REDEVELOPMENT AGENCY (RDA) 12/30/19
3
June Meetings
• Tuesday, June 2
Council Work Session & Formal Meeting
• TENTATIVE - Thursday, June 4
Council Work Session Only (as needed for
budget)
• Tuesday, June 9
RDA Meeting, Council Work Session &
Formal Meeting
• TENTATIVE - Thursday, June 11
Council Work Session Only (based upon
budget adoption)
• TENTATIVE - Tuesday, June 16
RDA Meeting, Council Work Session &
Formal Meeting (based upon budget
adoption)
• TENTATIVE - Thursday, June 18
Council Work Session Only (based upon
budget adoption)
• TENTATIVE - Tuesday, June 23
Council Work Session & Formal Meeting
(based upon budget adoption)
• TENTATIVE - Thursday, June 25
Council Work Session Only (based upon
budget adoption)
• TENTATIVE - Tuesday, June 30
Council Work Session & Formal Meeting
(based upon budget adoption)
July Meetings
• Tuesday, July 7
Council Work Session & Formal Meeting
• Tuesday, July 14
RDA Meeting, Council Work Session &
Formal Meeting
August Meetings
• Tuesday, August 11
RDA Meeting, Council Work Session &
Formal Meeting
• Tuesday, August 18
Council Work Session & Formal Meeting
September Meetings
• Tuesday, September 1
Council Work Session & Formal Meeting
• Tuesday, September 8
RDA Meeting & Council Work Session
• Tuesday, September 15
Council Work Session & Formal Meeting
October Meetings
• Tuesday, October 6
Council Work Session & Formal Meeting
• Tuesday, October 13
RDA Meeting & Council Work Session
• Tuesday, October 20
Council Work Session & Formal Meeting
2020 MEETING SCHEDULE FOR SALT LAKE CITY
COUNCIL & REDEVELOPMENT AGENCY (RDA) 12/30/19
4
November Meetings
• Tuesday, November 10
RDA Meeting, Council Work Session &
Formal Meeting
• Tuesday, November 17
Council Work Session & Formal Meeting
December Meetings
• Tuesday, December 1
Council Work Session & Formal Meeting
• Tuesday, December 8
RDA Meeting, Council Work Session &
Formal Meeting
Posted: December 30, 2019
Publish: January 2, 2020 (Deseret News only)
Acct #: 9001367929
Sent to NAC: December 30, 2019
4820-7356-7930, v. 5 B-1
EXHIBIT B
INDENTURE
(See Transcript Document Nos. ___ and ___)
4820-7356-7930, v. 5 C-1
EXHIBIT C
FORM OF WIFIA LOAN AGREEMENT
(See Transcript Document No. ___)
4820-7356-7930, v. 5 D-1
EXHIBIT D-1
NOTICE OF PUBLIC HEARING REGARDING BONDS TO BE ISSUED
NOTICE IS HEREBY GIVEN pursuant to the provisions of the Local Government
Bonding Act, Title 11, Chapter 14, Utah Code Annotated 1953, as amended (the “Bond
Act”), that on August 18, 2020, the City Council (the “Council”) of Salt Lake City, Utah
(the “Issuer”), expects to consider for adoption a resolution (the “Resolution”) in which it
will authorize the issuance of the Issuer’s Public Utilities Revenue Bond (WIFIA Loan),
Series 2020B (the “WIFIA Bond”).
PURPOSE, TIME, PLACE AND LOCATION OF PUBLIC HEARING
The Issuer shall hold a public hearing on September 1, 2020, at the hour of 7:00
p.m. via electronic means pursuant to the Council Chair determination that conducting a
City Council meeting at a physical location presents a substantial risk to the health and
safety of those who may attend in person. Moreover, the City & County Building, which
is the anchor location for Salt Lake City Council meetings is presently closed for regular
occupation due to damages sustained during the March 2020 earthquakes. This hearing will
not have a physical location at the City and County Building. All attendees will connect
remotely. The purpose of the hearing is to receive input from the public with respect to (a)
the issuance of the WIFIA Bond and (b) any potential economic impact that the hereinafter
defined Project may have on the private sector. Members of the public are encouraged to
participate in the hearing and may visit www.slc.gov/council/ or call 801-535-7654 to learn
how to participate by phone or on the Webex platform. The public may also watch the
meeting using the following platforms:
Facebook Live: www.facebook.com/slcCouncil/
YouTube: www.youtube.com/slclivemeetings
Web Agenda: www.slc.gov/council/agendas/
SLCtv Channel 17 Live: www.slctv.com/livestream/SLCtv-Live/2
PURPOSE FOR ISSUING THE WIFIA BOND
The WIFIA Bond will be issued for the purpose of financing the reconstruction of
the Issuer’s Water Reclamation Facility (the “Project”) and paying costs of issuance of the
WIFIA Bond.
DATED this August 14, 2020.
/s/ Cindy Lou Trishman
City Recorder
4820-7356-7930, v. 5 D-2
EXHIBIT D-2
NOTICE OF BONDS TO BE ISSUED
NOTICE IS HEREBY GIVEN pursuant to the provisions of the Local Government
Bonding Act, Title 11, Chapter 14, Utah Code Annotated 1953, as amended (the “Bond
Act”), that on August 18, 2020, the City Council (the “Council”) of Salt Lake City, Utah
(the “Issuer”), adopted a resolution (the “Resolution”) in which it authorized the issuance
of the Issuer’s Public Utilities Revenue Bond (WIFIA Loan), Series 2020B (the “WIFIA
Bond”) (to be issued in one or more series and with such other name, series or title
designation(s) as may be determined by the Issuer).
PURPOSE FOR ISSUING THE WIFIA BOND
The WIFIA Bond will be issued for the purpose of financing the reconstruction of
the Issuer’s Water Reclamation Facility and paying costs of issuance of the WIFIA Bond.
REVENUES TO BE PLEDGED
The WIFIA Bond is a special limited obligation of the Issuer payable from the
revenues of the Issuer’s water, sewer, stormwater and street lighting systems (the
“Revenues”).
PARAMETERS OF THE WIFIA BOND
The Issuer intends to issue the WIFIA Bond in the aggregate principal amount of
not more than Three Hundred Forty-Eight Million Six Hundred Thirty-Five Thousand
Dollars ($348,635,000), to mature in not more than thirty-nine (39) years from its date or
dates, to be sold at a price not less than ninety-nine percent (99%) of the total principal
amount thereof, and bearing interest at a rate or rates not to exceed four percent (4.0%) per
annum. The WIFIA Bond is to be issued and sold by the Issuer pursuant to the Resolution,
including as part of said Resolution, a WIFIA Loan Agreement (the “WIFIA Loan
Agreement”), a Master Trust Indenture (the “Master Indenture”), and a Supplemental
Indenture of Trust (the “Supplemental Indenture” and collectively with the Master
Indenture, the “Indenture”) which WIFIA Loan Agreement and Indenture were before the
Council in substantially final forms at the time of the adoption of the Resolution and said
WIFIA Loan Agreement and Supplemental Indenture are to be executed by the Issuer in
such forms and with such changes thereto as shall be approved by the Issuer; provided that
the principal amount, interest rate or rates, maturity, and discount of the WIFIA Bond will
not exceed the maximums set forth above.
OUTSTANDING BONDS SECURED BY REVENUES
Other than the proposed WIFIA Bond, the Issuer currently has $252,630,000 of
bonds outstanding (the “Outstanding Bonds”) secured by the Revenues (as more fully
described in the Indenture).
4820-7356-7930, v. 5
OTHER OUTSTANDING BONDS OF THE ISSUER
Additional information regarding the Issuer’s Outstanding Bonds may be found in
the Issuer’s financial report (the “Financial Report”) at:
https://reporting.auditor.utah.gov/searchreport. For additional information, including any
information more recent than as of the date of the Financial Report, please contact Marina
Scott, City Treasurer, at (801) 535-6565.
TOTAL ESTIMATED COST
Based on the Issuer’s current plan of finance and a current estimate of interest rates,
the total principal and interest cost of the WIFIA Bond if held until maturity is
$452,137,365.
A copy of the Resolution, the WIFIA Loan Agreement and the Indenture are on file
in the office of the Salt Lake City Recorder, electronically, and at 349 South 200 East, Salt
Lake City, Utah, where they may be examined by appointment at the office of the City
Recorder during regular business hours of the City Recorder from 8:00 a.m. to 5:00 p.m.
for a period of at least thirty (30) days from and after the date of publication of this notice.
To schedule an appointment, please call (801) 535-7671. Additionally, a protected, pdf
copy of the Resolution, the WIFIA Loan Agreement and the Indenture may be requested
by sending an email to the City Recorder at SLCRecorder@slcgov.com.
NOTICE IS FURTHER GIVEN that a period of thirty (30) days from and after the
date of the publication of this notice is provided by law during which any person in interest
shall have the right to contest the legality of the Resolution, the WIFIA Loan Agreement,
the Indenture (only as it pertains to the WIFIA Bond), or the WIFIA Bond, or any provision
made for the security and payment of the WIFIA Bond, and that after such time, no one
shall have any cause of action to contest the regularity, formality, or legality thereof for
any cause whatsoever.
DATED this August 18, 2020.
/s/ Cindy Lou Trishman
City Recorder
Bond Resolution 27 of 2020 adopted 8-18-20
Final Audit Report 2020-09-03
Created:2020-08-20
By:Scott Crandall (scott.crandall@slcgov.com)
Status:Signed
Transaction ID:CBJCHBCAABAAQqK6fFE5MClbTHvIeh57bsndVJOuf7wa
"Bond Resolution 27 of 2020 adopted 8-18-20" History
Document created by Scott Crandall (scott.crandall@slcgov.com)
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Signed document emailed to Boyd Ferguson (boyd.ferguson@slcgov.com), Scott Crandall
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