OFFICIAL BALLOT PROPOSITION

Shall the City Council of American Fork City, Utah (the "City"), be authorized to issue general obligation bonds in an amount not to exceed four million three hundred twenty thousand dollars ($4,320,000) (the "Bonds") for the purpose of financing all or a portion of the costs of road improvements and related property acquisition and other improvements, including, but not limited to improvements to 50 South from approximately 700 East to 1100 East, extending 1120 North to approximately 900 West, and widening 900 West at 700 North, and for payment of expenses reasonably incurred in connection with the acquisition and construction of said improvements and the authorization and issuance of the Bonds; said Bonds to be due and payable in not to exceed twenty-two (22) years from the date of issuance of the Bonds and to be payable from the levy and collection of ad valorem taxes without limitation as to rate or amount on all taxable property within the City?

NOTICE OF PROPERTY TAX INCREASE DUE TO BOND ISSUANCE

Passage of this Proposition means that the tax on a $240,000 residence within the City would increase by $37.00 per year.

The tax on a $240,000 business within the City would increase by $67.50 per year.