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 20, 2026 the Board of Trustees (the 'Board') of Jordanelle Ridge Public Infrastructure District No. 3 (the 'Issuer') adopted a resolution (the 'Resolution') in which it authorizes the issuance of the Issuer's Limited Tax General Obligation Bonds, Series 2026A (the '2026A Senior Bonds') and Subordinate Limited Tax General Obligation Bonds, Series 2026B (the '2026B Subordinate Bonds,' and 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 hold a public hearing as described herein.
PURPOSE, TIME, PLACE AND LOCATION OF PUBLIC HEARING
The Issuer shall hold a public hearing on May 15, 2026, at the hour of 9:30 a.m. at 98 E. Center Street, Heber City, Utah 84032 and by electronic means at https://us02web.zoom.us/j/86150103164?pwd=bTNISnVHOGxYNFE0VHIrbDh4Q3pndz09.
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 (with respect to the 2026A Senior Bonds), (c) funding any necessary reserve and/or surplus funds (with respect to the Series 2026A Senior Bonds), and (d) paying costs of issuance of the Bonds.
REVENUES TO BE PLEDGED
The Bonds are limited tax general obligations of the Issuer payable from all or any portion of ad valorem property taxes of the Issuer and pioneering agreement revenues, if any, (collectively, the 'Pledged Revenues').
PARAMETERS OF THE BONDS
The Issuer intends to issue the Bonds in the combined aggregate principal amount of not more than Eighty-Five Million Dollars ($85,000,000). The Bonds shall mature in not more than thirty-one (31) years from their date or dates, taxes being imposed for a period of up to forty (40) years from the first date of imposition thereof, 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 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, an Indenture of Trust (Senior) and an Indenture of Trust (Subordinate) (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 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 is estimated at approximately $89,460,000 for the 2026A Senior Bonds, approximately $34,530,483 for the 2026B Subordinate Bonds.
A copy of the Resolution and the Indentures are on file at Cohne Kinghorn. P.C., 111 East Broadway, 11th Floor Salt Lake City, Utah 84111, 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 Indentures, please call (801) 363-4300 or email jcook@ck.law.
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 Indentures, 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 20, 2026.
/s/ Mike Bradshaw
Clerk/Secretary
Notice of Special Accommodations (ADA)
In accordance with the Americans with Disabilities Act, Jordanelle Ridge Public Infrastructure District No. 3 will make reasonable accommodation for participation in all public meetings. This meeting may be held telephonically to allow a member of the public body to participate. This agenda is subject to change with a minimum 24-hour notice. For information on reasonable accommodations or participating electronically, please call Jeremy Cook at 801-363-4300.