NOTICE OF RESOLUTION AND BONDS TO BE ISSUED
NOTICE IS HEREBY GIVEN that the Board of Trustees (the 'Board') of the Resort Core Public Infrastructure District No. 1 (the 'District') adopted a Resolution on April 23, 2026 (the 'Resolution') in which it made a finding that it had obtained the consent of 100% of the surface property owners within the boundaries of the District (the 'Property Owner Consent to Bonds') to the issuance of not to exceed ONE BILLION DOLLARS ($1,000,000,000) of limited tax bonds (the 'Bonds') for the purpose of paying all or a portion of the costs of public infrastructure and improvements, as permitted under Title 17B and Title 17D, Chapter 4 of the Utah Code Annotated 1953, as amended ('Utah Code'). For any capital appreciation Bonds issued by the District, only the par amount of such Bonds at issuance (and not the value at conversion) of such Bonds shall count against this amount. Notice is further given that on such date there were no registered voters residing within the boundaries of the District. A copy of the Resolution is attached hereto as Appendix 1.
Within the Resolution, the Board declared its intent to issue Bonds, in one or more series, the debt service upon which is repayable from taxes levied against property within the boundaries of the District, subject to a maximum mill levy for repayment of 0.015 per dollar of taxable value (and subject to adjustment as provided in Section 17D-4-301(13) of the Utah Code) which may be imposed for a period of up to forty (40) years from the first date of imposition thereof with respect to each series of Bonds. The Board further declared its intent to issue such Bonds on or before April 23, 2036.
The Property Owner Consents are binding on the Property Owners and their successors in title and assigns and all future residents, owners, lessors, voters, and taxpayers of the District, and no further consent of property owners within the District will be required by the District to issue the Bonds.
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 regularity, formality, or legality of the Resolution, 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.
RESORT CORE PUBLIC INFRASTRUCTURE DISTRICT NO. 1
By: David Smith
Chair