1. (1) Before issuing bonds authorized under this chapter, a local political subdivision shall:

   1. (a) in accordance with Subsection (2), provide public notice of the local political subdivision's intent to issue bonds; and

   2. (b) hold a public hearing:

      1. (i) if an election is required under this chapter:

         1. (A) no sooner than 30 days before the day on which the notice of election is published under Section 11-14-202; and
         2. (B) no later than five business days before the day on which the notice of election is published under Section 11-14-202; and

      2. (ii) to receive input from the public with respect to:

         1. (A) the issuance of the bonds; and
         2. (B) 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.

2. (2) A local political subdivision shall:

   1. (a) publish the notice required by Subsection (1)(a) for the local political subdivision, as a class A notice under Section 63G-30-102, for no less than 14 days before the day of the public hearing required by Subsection (1)(b); and

   2. (b) ensure that the notice:

      1. (i) identifies:

         1. (A) the purpose for the issuance of the bonds;
         2. (B) the maximum principal amount of the bonds to be issued;
         3. (C) the taxes, if any, proposed to be pledged for repayment of the bonds; and
         4. (D) the time, place, and location of the public hearing; and
      2. (ii) informs the public that the public hearing will be held for the purposes described in Subsection (1)(b)(ii).

Amended by Chapter 435, 2023 General Session