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, that on April 15, 2026 the Board of Trustees (the 'Board') of Nordic Village Public Infrastructure District No. 1 (the 'Issuer') adopted a resolution (the 'Resolution') in which it authorizes the issuance of Issuer's Tax Increment Revenue Convertible Capital Appreciation Bonds, Series 2026A (the '2026A Senior Bonds') and Subordinate Tax Increment Revenue Bonds, Series 2026B (collectively 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 by the Issuer) and the holding of a public hearing as described herein.
PURPOSE, TIME, PLACE AND LOCATION OF PUBLIC HEARING
The Issuer shall hold a public hearing on May 4, 2026, at the hour of 4:00 p.m. at 912 West 1600 South, Suite B-200, St. George, Utah 84770 and via electronic means dialing (669)900-6833 or at https://zoom.us/join using Meeting ID 820 9168 8350 and Passcode 676575. 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. Comments received will be added to the public record at the public hearing. Public comment during the meeting will be allowed.
PURPOSE FOR ISSUING THE BONDS
The Bonds will be issued for the purpose of (a) financing or reimbursing all or a portion of the cost of public infrastructure as permitted under the Special District Act, Title 17B, (b) funding capitalized interest (as necessary), (c) funding any necessary reserve and/or surplus funds, (d) funding working capital, and (e) paying costs of issuance of the Bonds.
REVENUES TO BE PLEDGED
The Bonds are tax increment obligations of the Issuer payable from all or any portion of Tax Increment Revenues (the 'Pledged Revenue') pledged to the Issuer pursuant to an Interlocal Participation Agreement with the Community Reinvestment Agency of Weber County.
PARAMETERS OF THE BONDS
The Issuer intends to issue the Bonds in the aggregate principal amount of not more than Twenty-Five Million Dollars ($25,000,000). The Bonds shall mature in not more than thirty-one (31) years from their date or dates, to be sold at a price not less than ninety-five percent (95%) 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 of not to exceed twelve percent (12%) per annum. The Bonds are to be issued and sold by the Issuer pursuant to the Resolution, including as part of said Resolution, a Senior Indenture of Trust and a Subordinate Indenture of Trust (collectively the 'Indentures').
OUTSTANDING BONDS SECURED BY REVENUES
Other than the proposed Bonds, the Issuer currently has $-0- principal amount of bonds outstanding secured by the Pledged Revenue.
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 2026A Senior Bonds is estimated at approximately $27,707,276 and of the 2026B Subordinate Bonds is estimated at approximately $4,604,187.
A copy of the Resolution and the Indentures are on file at the offices of Snow, Jensen & Reece, P.C., 912 West 1600 South, Suite B-200, St. George, Utah 84770, 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 publication of this notice. For electronic copies of the Resolution and the Indenture, please call (435) 628-3688 or email mence@snowjensen.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 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.
DATED this April 15, 2026.
/s/ Laurent Jouffray
Clerk/Secretary
Notice of Special Accommodations (ADA)
The District complies with the Americans with Disabilities Act by providing accommodations and auxiliary communicative aids and services for all those in need of assistance. Persons requesting these accommodations for public meetings should call Kristi Barker at 435-628-3688 at least 24 hours before the meeting.
Notice of Electronic or Telephone Participation
Unless otherwise noted on the posted Agenda, meetings of the Board of Trustees will be held in person. For meetings held via videoconferencing or telephonic communication Trustees and other meeting participants and attendees will be able to participate remotely. Persons requesting video conference or telephonic accommodation for public meetings should call Kristi Barker at 435-628-3688 to make arrangements.