General Information

Government Type

Special Service District

Entity

Silver Cliffs Common Public Infrastructure District

Public Body

Silver Cliffs Common Public Infrastructure District Board

Notice Information

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Notice Title

NOTICE OF PUBLIC HEARING AND BONDS TO BE ISSUED

Notice Type(s)

Notice, Hearing

Event Start Date & Time

July 15, 2026 03:00 PM

Event End Date & Time

July 15, 2026 04:00 PM

Description/Agenda

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 June 18, 2026, the Board of Trustees (the 'Board') of the Silver Cliffs Commons Public Infrastructure District (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') and Subordinate Limited Tax General Obligation Bonds, Series 2026B (the '2026B Subordinate Bonds,' and collectively with the 2026A-1 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 July 15, 2026, at the hour of 3:00 p.m. at Leeds Town Hall, 218 North Main St., Leeds, Utah 84746 or via electronic means at Zoom.us or 1 (346) 248-7799 using Meeting ID: 838 1762 8240 and Passcode: 783783. 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 Series 2026A-1 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 Obligation Bonds of the Issuer payable from all or any portion of (i) ad valorem property taxes of the Issuer, subject to a maximum rate of 0.015 per dollar of taxable value and (ii) revenues received by Issuer, if any, pursuant to one or more impact fee or infrastructure reimbursement agreements (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 Twenty Million Dollars ($20,000,000). 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 4931-6487-7493 2 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 of the 2026A-1 Senior Bonds is estimated at approximately $24,392,378, and the total principal and interest costs of the 2026B Subordinate Bonds is estimated at approximately $11,870,775. A copy of the Resolution and the Indentures are on file at Snow Jensen & Reece, P.C., 912 West 1600 South, Suite B-200, St. George, Utah 84770, 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 (435) 628-3688 or email mence@snowjensen.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.

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 call Brecken Anderson at 435-773-7476 at at least 24 hours before the meeting.

Notice of Electronic or Telephone Participation

Unless otherwise noted on the posted Agenda, meetings of the Board of Trustees will be held in person. For meetings held via videoconferencing or telephonic communication Trustees and other meeting participants and attendees will be able to participate remotely. Persons requesting video conference or telephonic accommodation for public meetings should call to make arrangements.

Meeting Information

Meeting Location

218 North Main St.
Leeds, UT 84746
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Notice Posting Details

Notice Posted On

June 24, 2026 05:53 PM

Notice Last Edited On

June 24, 2026 05:53 PM

Audio File Address

Audio File Location

https://us06web.zoom.us/j/83817628240?pwd=pUqLaxioaxfhtnBzU3yYIE6lpK4uTg.1

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