NOTICE OF BONDS TO BE ISSUED
NOTICE IS HEREBY GIVEN that, on June 18, 2026, the Administrative Control Board of the Timpanogos Special Service District(the 'Issuer') adopted a resolution (the 'Resolution') in which it authorized and approved the issuance of the Issuer's sewer revenue bonds (the 'Bonds') in an aggregate principal amount of not to exceed $200,000,000, to mature in not more than 31 years from their date or dates, to be sold at a discount from par, expressed as a percentage of principal amount, of not to exceed 2% per annum, and to bear interest at rates not exceeding 6.00% per annum.
The Bonds are to be issued and sold by the Issuer pursuant to (1) the Resolution, (2) a Master Trust Indenture Providing for the Issuance of Sewer Revenue Bonds, dated as of December 1, 2017 (as previously supplemented and amended, the 'Master Indenture'), and (3) a Supplemental Indenture (the 'Supplemental Indenture' and, collectively with the Master Indenture, the 'Indenture'). A copy of the Master Indenture a draft of the Supplemental Indenture, in substantially final form, were attached to the Resolution at the time of the adoption of the Resolution.
The Bonds are to be issued for the purpose of financing certain costs of the acquisition and construction of improvements to the Issuer's sewer system, satisfying a debt service reserve requirement, if necessary, and paying costs of issuance of the Bonds, all as set forth in the Resolution and the Indenture.
The Bonds shall be payable from and secured by the revenues of Issuer's sewer system and certain other funds, as more particularly described in the Indenture.
The total principal amount of sewer revenue bonds currently outstanding that are secured by the same pledge of revenues as the proposed Bonds, is $237,695,000. The estimated total cost to the Issuer for the proposed Bonds if the bonds are held until maturity, based on current interest rate estimates and the anticipated principal amount and maturity and payment dates with respect to the Bonds, is $368,424,666.67.
A copy of the Resolution (including the Indenture) is on file in the office of the Secretary of the Issuer, located at 5050 West 6400 North, American Fork, Utah, where it may be examined during regular business hours of the Secretary from 8:00 a.m. to 5:00 p.m. Said Resolution (including the Indenture) shall be so available for inspection for a period of at least 30 days from and after the date of the publication of this notice.
NOTICE IS FURTHER GIVEN that, pursuant to law, for a period of 30 days from and after the date of the publication of this notice, any person in interest shall have the right to contest the legality of the above-described Resolution (including the Supplemental Indenture) of the Board or the Bonds or any provisions 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.
DATED this June 18, 2026.
TIMPANOGOS SPECIAL SERVICE DISTRICT
Notice of Special Accommodations (ADA)
In compliance with the Americans with Disabilities Act, individuals needing special accommodations (including auxiliary communicative aids and services) during this meeting should notify Danette Smith at 801-756-5231.
Notice of Electronic or Telephone Participation
Electronic Participation is available. To participate please contact Danette Smith 801-756-5231 danette.smith@timpssd.org