Board authorizes up to $35 million in refunding bonds

What happened

On March 24, 2026 the board authorized up to $35 million in general obligation refunding bonds, maturing in no more than 11 years at up to 5.5% interest, to refinance existing bonds. The 2016 bonds paid for the Wasatch Aquatic Center, Timpanogos Middle School and Daniels Canyon Elementary. Earlier estimates put savings at about $1.4 million; at the meeting staff said savings had dropped to about $650,000 and they would wait.

Why it matters to families

Refinancing would lower interest costs that taxpayers repay through the debt service levy. The notice started a 30-day window for anyone to challenge the resolution in court.

The evidence

The published Notice of Bonds to Be Issued states the parameters and the March 24, 2026 adoption date.

The source