General Information

Government Type

Independent or Quasi-Government

Entity

Military Installation Development Authority

Public Body

MIDA Mountain Village Public Infrastructure District

Notice Information

Add Notice to Calendar

Notice Title

NOTICE OF PUBLIC HEARING AND BONDS TO BE ISSUED

Notice Type(s)

Notice, Hearing

Event Start Date & Time

October 30, 2025 02:00 PM

Description/Agenda

NOTICE IS HEREBY GIVEN pursuant to the provisions of the Local Government Bonding Act, Title 11, Chapter 14, Utah Code Annotated 1953, as amended and the Utah Refunding Bond Act, Title 11, Chapter 27, Utah Code Annotated 1953, as amended, that on October 14, 2025 the Board of Trustees (the 'Board') of MIDA Mountain Village Public Infrastructure District (the 'Issuer'), adopted a resolution (the 'Resolution') in which it authorizes the issuance of the Issuer's Tax Allocation Revenue Bonds, Series 2025 (the 'Bonds') (to be issued in one or more series, under one or more indentures and with such other series or title designation(s) as may be determined and applicable by the Issuer) and hold a public hearing to receive input from the public with respect to (a) the issuance of the Bonds and (b) any potential economic impact that the Project described herein to be financed with the proceeds of the Bonds may have on the private sector. PURPOSE, TIME, PLACE AND LOCATION OF PUBLIC HEARING The Issuer shall hold a public hearing on October 30, 2025 at the hour of 2:00 p.m. via electronic means. The purpose of the hearing is to receive input from the public with respect to (a) the issuance of the Bonds and (b) any potential economic impact that the Project to be financed with the proceeds of the Bonds may have on the private sector. All members of the public are invited to attend and participate using the following web address to register: https://us06web.zoom.us/webinar/register/WN_r6zGDtDZSM6Z7kr7xgxtmg. PURPOSE FOR ISSUING THE BONDS The Bonds will be issued for the purpose of (a) financing or refinancing all or a portion of the costs of public infrastructure and improvements as permitted and defined under the Local District Act, Title 17B and the Military Installation Development Authority Act ('MIDA Act'), Title 63H, Chapter 1, including capital improvements benefiting the Project Area and the refinancing of existing projects, (b) funding capitalized interest, (c) funding a reserve fund, and (d) paying costs of issuance of the Bonds. REVENUES TO BE PLEDGED The Bonds will be secured by any combination of legally available sales and excise taxes imposed currently or in the future by the Military Installation Development Authority and/or senior or subordinate tax allocation revenues of the Military Installation Development Authority and any other legally permitted revenues under the MIDA Act (collectively, the 'Pledged Revenues'). PARAMETERS OF THE BONDS The Issuer intends to issue the Bonds in one or more series in the aggregate original principal amount of not more than Sixty Million Dollars ($60,000,000), to mature in not more than forty (40) years from their date or dates, to be sold at a price not less than ninety-six percent (96%) of the total principal amount thereof (except for capital appreciation bonds which shall just be limited to the maximum par amount as described herein) and bearing interest at a rate or rates not to exceed ten percent (10%) per annum. The Bonds are to be issued and sold by the Issuer pursuant to the Resolution, including as part of said Resolution one or more of a General Indenture of Trust and a Supplemental Indenture of Trust (together, the 'Indenture'). OUTSTANDING BONDS SECURED BY REVENUES Other than the proposed Bonds, the Issuer currently has $-0- principal amount of bonds outstanding secured by the Pledged Revenues. TOTAL ESTIMATED COST OF BONDS Based on the Issuer's current plan of finance and a current estimate of interest rates, the total principal and interest cost of the Bonds is estimated at approximately $147,222,000. A copy of the Resolution and the Indenture are on file at 15 West South Temple, Suite 1450, Salt Lake City, Utah, where they may be examined during regular business hours from 9:00 a.m. to 4:00 p.m. for a period of at least thirty (30) days from and after the date of posting of this notice and are also available at https://midaut.org/. For office access, please call 801-364-5080 or email rtracy@gilmorebell.com. NOTICE IS FURTHER GIVEN that a period of thirty (30) days from and after the date of the posting 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 Indenture (but only as it relates to the Bonds), or the Bonds, or any provision made for the security and payment of the Bonds, 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.

Notice of Special Accommodations (ADA)

The Military Installation Development Authority does not discriminate on the basis of race, color, national origin, sex, religion, age or disability in employment or the provision of services. If you are planning to attend this meeting and, due to a disability, need assistance in understanding or participating in the meeting, please notify the Authority eight or more hours in advance of the meeting and we will try to provide assistance. Please contact the Authority at (801) 505-0728

Notice of Electronic or Telephone Participation

Committee Members will participate in the meeting via videoconferencing or telephonic communication. Both videoconference and telephone communication will be enabled so that Members and all other meeting participants and attendees will be able to hear all

Other Information

In the event of an absence of a majority quorum, agenda items will be continued to the next regularly scheduled meeting. By motion of a member of the Authority Board, the Board may vote to hold a closed meeting for any of the purposes allowed by law, Utah

Meeting Information

Meeting Location

n/a
n/a, UT 84101
Show in Apple Maps Show in Google Maps

Contact Name

Sara Turner

Contact Email

sturner@midaut.org

Contact Phone

(801)505-0728

Notice Posting Details

Notice Posted On

October 15, 2025 10:28 AM

Notice Last Edited On

October 15, 2025 10:28 AM

Subscribe by Email

Subscription options will send you alerts regarding future notices posted by this Body.