NOTICE OF PUBLIC HEARING AND BONDS TO BE ISSUED
DAVIS COUNTY, UTAH
NOTICE IS HEREBY GIVEN that on June 23, 2026, the Board of County Commissioners (the 'Commission') of Davis County, Utah (the 'County') will conduct a public hearing as required by Section 147(f) of the Internal Revenue Code (the 'Code') with respect to a plan of finance that includes the proposed issuance by the County of its industrial development revenue bonds (the 'Bonds'), to be issued from time to time as one or more series and with such other series or title designation(s) as may be determined by the County (the 'Bonds'), the interest on which may be taxable or tax-exempt to the holder of the Bonds, in an aggregate principal amount not to exceed $10,000,000 for the benefit of Kihomac, Inc., a Virginia stock corporation (the 'Borrower').
Bond proceeds are expected to be loaned or otherwise made available to the Borrower to provide all or a portion of the funds necessary to finance costs of acquiring, constructing, furnishing, and equipping an approximately 67,729-square foot manufacturing facility (the 'Project'), to be owned and operated by the Borrower. The Project will be located on approximately five acres at 3700 North Fairfield Road, in Layton, Utah adjacent to South of the existing Kihomac building located at 3800 North Fairfield Road and adjacent to the West of Sun Hills Golf Course.
The hearing will be held at the Davis County Administration Building, 61 South Main Street, Suite 303, Farmington, Utah, at 10:00 a.m. The hearing will be open to the public. Interested individuals are invited to express their views, both orally and in writing on the proposed issue of the Bonds and the location and nature of the Project. Comments at the public hearing are invited. Meeting proceedings may be viewed through YouTube livestreaming at https://www.youtube.com/@daviscountygovernment on the date and at the time specified in this public notice. Prior to the hearing date, written comments may be submitted to the Commission, at the above-listed address or by email to commissioners@daviscountyutah.gov.
After the public hearing, the Chair of the Commission will consider whether to approve the plan of finance and issuance of the Bonds as described in this TEFRA Hearing Notice for the benefit of the Borrower, as required by Code Section 147(f), so that the interest on the Bonds may be excluded from gross income for federal income tax purposes.
NOTICE IS FURTHER GIVEN, pursuant to the provisions of the Utah Industrial Facilities and Development Act, Title 11, Chapter 17, Utah Code Annotated 1953, as amended (the 'Act'), that on June 2, 2026, the Commission adopted a resolution (the 'Resolution'), authorizing the issuance by the County of the Bonds in the aggregate principal amount of not to exceed $10,000,000 and to mature in not more than 15 years from the date thereof for the purpose of financing the above described Project, including any amounts necessary to pay costs of issuance of the Bonds.
The County is authorized to issue the Bonds pursuant to the Act. The Bonds will be special limited obligations of the County payable solely from amounts provided by the Borrower, including monies and securities held from time to time pursuant to a loan or other financing agreement and related security documents pursuant to which the Bonds are to be issued. The Bonds and the interest thereon will not be a debt of the County or of the State of Utah or any political subdivision, and neither the County nor the State of Utah or any political subdivision will be liable thereon, and in no event will the Bonds or the interest thereon be payable out of any funds or properties other than those of the Borrower. The Bonds will not constitute indebtedness within the meaning of any constitutional or statutory debt limitation or restriction.
A copy of the proceedings authorizing the issuance of the Bonds is on file in the office of the County Clerk at 61 South Main Street, Suite 104, Farmington, Utah, Utah, where it may be examined during regular business hours of the County Clerk from 8:00 a.m. to 5:00 p.m., Monday through Friday, for a period of at least 30 days from and after the date of publication of this notice.
NOTICE IS FURTHER GIVEN that a period of 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 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.
Date: June 2, 2026.
/s/ Brian McKenzie
County Clerk
Notice of Special Accommodations (ADA)
Pursuant to the Americans with Disability Act, individuals needing special accommodations during this meeting should notify the Davis County Commission Office at 801-451-3200 prior to the meeting.
Notice of Electronic or Telephone Participation
Electronic Participation: Pursuant to UCA 52-4-207, electronic and telephone participation is available to this body's members and invited guests but not available to the general public.