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 23, 2026
the Board of Trustees (the 'Board') of Resort Core Public Infrastructure District No. 1 (the
'Issuer') adopted a resolution (the 'Resolution') in which it authorizes the issuance of the Issuer's
Limited Tax General Obligation Bonds, Series 2026A-1 (the '2026A-1 Senior Bonds'), its
Limited Tax General Obligation Convertible Capital Appreciation Bonds, Series 2026A-2 (the
'2026A-2 Senior Bonds,' and together with the 2026A-1 Senior Bonds, the '2026A Senior
Bonds'), and its Subordinate Limited Tax General Obligation Bonds, Series 2026B (the '2026B
Subordinate Bonds,' and collectively with the 2026A Senior Bonds, 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 14, 2026, at the hour of 9:15 a.m. at the
offices of TCFC, 1840 Sun Peak Drive, Suite A201, Park City, Utah 84098 and via electronic
means at https://www.microsoft.com/en-us/microsoft-teams/join-a-meeting using Meeting ID:
937 766 914 068 0 and Passcode: Km99Ns. 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 and improvements as permitted under the Special District Act,
Title 17B and the Public Infrastructure District Act, Title 17D, Chapter 4, (b) funding capitalized
interest (with respect to the 2026A-1 Senior Bonds), (c) funding any necessary reserve and/or
surplus funds (with respect to the 2026A Senior Bonds), (d) funding working capital, and (e)
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 Five Hundred Million Dollars ($500,000,000), including upon conversion of the 2026A-
2 Senior Bonds. The Bonds shall mature in not more than forty (40) 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
(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, an Indenture of Trust (Senior) and an Indenture of Trust (Subordinate)
(together, 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 $386,490,691 for the 2026A-1 Senior
Bonds, approximately $429,026,735 for the 2026A-2 Senior Bonds, and approximately
$160,937,498 for the 2026B Subordinate Bonds.
A copy of the Resolution and the Indentures are on file at the offices of the Issuer c/o TCFC
1840 Sun Peak Drive, Suite A201, Park City, Utah 84098 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) 372-0055 or email kyle@mcdonaldfielding.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 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 23, 2026.
/s/ Laurel Simpson
Vice-Chair/Secretary/Clerk
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 email kyle@mcdonaldfielding.com at least six hours before the meeting.