NOTICE OF BONDS TO BE ISSUED
NOTICE IS HEREBY GIVEN pursuant to the provisions of the Public Infrastructure District Act, Title 17D, Chapter 4, Utah Code Annotated 1953, as amended (the 'Act'), that on April 9, 2026 the Board of Trustees (the 'Board') of Utah City West Public Infrastructure District
No. 1 (the 'Issuer'), adopted a resolution (the 'Resolution') in which it authorized the issuance of the Issuer's Special Assessment Bonds, Series 2026 (Utah City West Assessment Area No. 1) (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).
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 cost of public infrastructure as permitted under the Special District Act, Title 17B, Utah Code Annotated 1953, as amended, (b) funding a surplus or reserve fund, (c) providing for capitalized interest with respect to the Series 2026 Bonds, and (d) paying costs 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 One Hundred Twenty Seven Million Six Hundred Thousand Dollars ($127,600,000), to mature in not more than thirty (30) years from the date of the Resolution, to be sold at a price not less than ninety-five percent (95%) of the total principal amount thereof and bearing interest at a rate or rates not to exceed twelve percent (12.00%) 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, an Indenture of Trust and Pledge (the 'Indenture') which was before the Board in substantially final form at the time of the adoption of the Resolution and said Indenture 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 TO BE PLEDGED
The Series 2026 Bonds are special assessment obligations of the Issuer payable from assessments to be levied on property within the boundaries of the Issuer (the 'Pledged Revenues').
OUTSTANDING BONDS SECURED BY PLEDGED REVENUES
The Issuer currently has $0 principal amount of bonds outstanding secured by the Pledged Revenues.
TOTAL ESTIMATED COST OF SERIES 2026 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 is estimated at approximately $284,532,480.
A copy of the Resolution and the Indenture are on file at WBA, PC 139 Hunter's Grove Ln. Suite 200 Lehi, Utah 84043, where they may be examined during regular business hours from 9:00 a.m. to 5:00 p.m. for a period of at least thirty (30) days from and after the date of posting of this notice. For electronic copies of the Resolution and Indenture, please call (303) 858-1800 or email bdickhoner@wbapc.com.
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 Indenture (as it pertains to the Series 2026 Bonds), 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 April 9, 2026.
/s/ Matthew Rasband
Secretary
Notice of Special Accommodations (ADA)
N/A
Notice of Electronic or Telephone Participation
N/A
Other Information
Regular Meetings are scheduled for the third Wednesday of January, April, July, October and November at 2:00pm via teleconference.
The following rules of order apply to all regular and special meetings conducted by the Board.
RULE NO. 1
The District will comply with all required procedures that are stated in the Open and Public Meetings Act and other related provisions of the Utah Code.
RULE NO. 2
An item may be placed on the agenda by any member of the Board of Trustees, or by a person acting at their direction or with their consent. The agenda for a meeting will be the guide to the meeting. If matters come up for discussion that are not on the agenda, no final action can be taken on any matter not on the agenda.
RULE NO. 3
The District Chair (or an authorized person conducting a meeting on the Chair's behalf or in the chair's absence), will open and introduce an item on the agenda in order, unless the chair or authorized person determines that there is a good reason to consider agenda items out of order. If an agenda item is one that requires discussion, the Board of Trustees can consider and discuss the item in a polite, civil, free-for-all type exchange of ideas for as long as they believe to be necessary. When the Chair or authorized person believes that a discussion has gone on long enough, and the item is one that requires a decision of the Board of Trustees, the Chair or authorized person can ask for vote on the matter. Any member of the Board of Trustees who has had enough of the discussion can at any time also ask the Chair or authorized person either to move on to the next item or call for a vote on the item. If a majority of the Board of Trustees agree, the Chair or authorized person shall call for a vote or move on to the next item as appropriate. No formal motions or seconds are required or necessary for such a request.
RULE NO. 4
The Board of Trustees shall treat each other with respect and act at all times during the meeting in a civil and courteous manner to each other and the public.