SUMMIT COUNTY SERVICE AREA #3
NOTICE OF PUBLIC HEARING AND 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 'Act'), that on
November 18, 2025, the Board of Trustees (the 'Board') of Summit County Service Area #3,
Utah (the 'Issuer'), adopted a resolution (the 'Resolution') in which it authorized the issuance
of the Issuer's Water Revenue Bonds, Series 2026 (the 'Series 2026 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), and called a public hearing to receive input from the public with respect to the issuance
of the Series 2026 Bonds and any potential economic impact that the project described herein to
be financed with the proceeds of the Series 2026 Bonds may have on the private sector.
TIME, PLACE AND LOCATION OF PUBLIC HEARING
The Issuer shall hold a public hearing on January 20, 2026, at the hour of 6:00 p.m. at
Sheldon Richins Building Auditorium at 1885 W Ute Blvd, Park City, Utah. The purpose of the
hearing is to receive input from the public with respect to the issuance of the Series 2026 Bonds
and any potential economic impact that the project to be financed with the proceeds of the Series
2026 Bonds may have on the private sector. All members of the public are invited to attend and
participate.
PURPOSE FOR ISSUING THE SERIES 2026 BONDS
The Series 2026 Bonds will be issued for the purpose of (a) financing all or a portion of
the costs of improvements to its water system (the 'System') including the construction of a
new 750,000-gallon concrete storage tank, a new replacement well, a new well house, system
fire flow improvements, and all related improvements (collectively, the 'Series 2026 Project'),
(b) funding a debt service reserve, if any, and (c) paying the cost of issuance of the Series 2026
Bonds.
PARAMETERS OF THE SERIES 2026 BONDS
The Issuer intends to issue the Series 2026 Bonds in the aggregate principal amount of
not more than Five Million Dollars ($5,000,000), to mature in not more than forty (40) years
from their date or dates, to be sold at a price not less than ninety-eight percent (98%) of the total
principal amount thereof, and bearing interest at a rate or rates not to exceed one percent (1.00%)
per annum. The Series 2026 Bonds are to be issued and sold by the Issuer pursuant to the
Resolution, including as part of said Resolution, a Master Resolution (the 'Master Resolution')
which was before the Board in substantially final form at the time of the adoption of the
Resolution and said Master Resolution is to be executed by the Issuer in such form 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 Series 2026 Bonds will not exceed the maximums set
forth above. The Issuer reserves the right to not issue the Series 2026 Bonds for any reason and
at any time up to the issuance of the Series 2026 Bonds.
REVENUES PROPOSED TO BE PLEDGED
The Series 2026 Bonds are special limited obligations of the Issuer payable from the net
revenues of the System.
OUTSTANDING BONDS SECURED BY REVENUES
The Issuer currently has $0 of bonds outstanding secured by the Revenues.
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/searchreports/s/. For additional information, including any
information more recent than as of the date of the Financial Report, please contact Vincent
Pao-Borjigin, Issuer Acting General Manager at (435) 500-6276.
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 Series 2026 Bonds to be issued under the Act to finance the
Series 2026 Project, if held until maturity is $5,219,740.
A copy of the Resolution and the Master Resolution are on file in the office of the
Summit County Service Area #3 at, 629 Parkway Drive, Park City, Utah, where they may be
examined during regular business hours of the Clerk from 9:00 a.m. to 3:00 p.m. Monday
through Thursday, for a period of at least thirty (30) days from and after the date of publication
of this notice.
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 Master Resolution or the Series 2026
Bonds, or any provision made for the security and payment of the Series 2026 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.
DATED this November 18, 2025.
/s/ Karri Taix
Clerk
Notice of Special Accommodations (ADA)
In accordance with the Americans with Disabilities Act, individuals needing special accommodations please contact the office (1) day in advance at 435-500-6276 - or via email permit@summitcosa3ut.gov
Notice of Electronic or Telephone Participation
SCSA#3 Board Members and Public may participate electronically via telephone or Google Meet. Please contact permit@summitcosa3ut.gov or (435) 500-6276. The Google Meet login information is also provided on the Service Area website at: https://www.summitcountyutah.gov/733/Service-Area-3