NOTICE OF BONDS TO BE ISSUED
NOTICE IS HEREBY GIVEN pursuant to the provisions of the Utah Refunding Bond Act, Title 11, Chapter 27, Utah Code Annotated 1953, as amended (the 'Act') that on July 30, 2026, the Board of Trustees (the 'Board') of the High Valley Transit District, Utah (the 'Issuer'), adopted a resolution (the 'Resolution') authorizing the issuance of the Issuer's Sales Tax Revenue Refunding Bonds, Series 2026 (the 'Series 2026 Bonds') to be issued in one or more series and with such other series or title designation(s) as may be determined by the Issuer.
PURPOSE FOR ISSUING THE SERIES 2026 BONDS
The Series 2026 Bonds will be issued for the purpose of (a) refunding all or a portion of the Issuer's outstanding sales tax revenue bonds (the 'Refunded Bonds') in order to achieve a debt service savings, (b) funding a deposit to a debt service reserve fund, if necessary, and (c) paying costs of issuance of the Series 2026 Bonds.
PARAMETERS OF THE SERIES 2026 BONDS
The Issuer intends to issue the Series 2026 Bonds in the aggregate principal amount of not more than Eighteen Million Five Hundred Thousand Dollars ($18,500,000), to mature in not more than twenty-five (25) years from their date or dates, to be sold at a price not less than ninety-eight percent (98%) of the total principal amount thereof and bearing interest at a rate or rates not to exceed five percent (5.00%) per annum. The Series 2026 Bonds are to be issued and sold by the Issuer pursuant to the Resolution, including as part of said Resolution, a Third Supplemental Indenture of Trust, supplementing and amending that certain General Indenture of Trust dated as of April 1, 2022, as heretofore amended and supplemented (collectively, the 'Indenture') which was before the Board in substantially final form at the time of the adoption of the Resolution.
REVENUES PROPOSED TO BE PLEDGED
The Issuer proposes to pledge up to 100% of the following sales and use taxes imposed by Summit County, Utah (the 'County') and remitted to the Issuer as part of an interlocal cooperation agreement between the County and the Issuer dated April 13, 2021, as amended, for the payment of the Series 2026 Bonds: (a) the county option sales and use tax to fund a system for public transit imposed under Section 59-12-2213, Utah Code Annotated 1953, as amended, (b) the county option sales and use tax for highways and public transit imposed under Section 59-12-2219, Utah Code Annotated 1953, as amended, and (c) the county option sales and use tax for a system for public transit imposed under Section 59-12-2220, Utah Code Annotated 1953, as amended (collectively, the 'Revenues').
A copy of the Resolution and the Indenture are on file in the office of the District at 1570 Sego Lily Way, Park City, Utah, where they may be examined during regular business hours from 8:30 a.m. to 5:00 p.m. Monday through Friday, for a period of at least thirty (30) days from and after the date of publication of this notice.
NOTICE IS FURTHER GIVEN that a period of thirty (30) days from and after the date of the posting 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 Indenture (as it pertains to the Series 2026 Bonds), or the Series 2026 Bonds, or any provision made for the security and payment of the Series 2026 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 July 30, 2026.
David Geffen, Vice Chair & Secretary
Notice of Special Accommodations (ADA)
Individuals with questions, comments, or needing special accommodations pursuant to the Americans with Disabilities Act regarding this meeting may contact 435-246-1538.
Notice of Electronic or Telephone Participation
Copy of bond notice posted on HVT website at https://www.hvtutah.gov/public-meetings-notices