NOTICE OF PUBLIC HEARING AND BONDS TO BE ISSUED
NOTICE IS HEREBY GIVEN pursuant to the provisions of the Local Government Bonding Act, Title 11, Chapter 14, Utah Code Annotated 1953, as amended (the 'Act'), that on September 15, 2026, the County Council (the 'County Council') of Salt Lake County, Utah (the 'Issuer'), adopted a resolution (the 'Resolution') authorizing the issuance of the Issuer's Transient Room Tax Revenue Bonds, Series 2026 (the '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, and called a public hearing to receive input from the public with respect to the issuance of the Bonds.
PURPOSE, TIME, PLACE AND LOCATION OF PUBLIC HEARING
The Issuer shall hold a public hearing on October 6, 2026, at the hour of 1:30 p.m. in the Council Chambers, Room N1-110 at the Salt Lake County Government Center, 2001 So. State Street, Salt Lake City, Utah. 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.
PURPOSE FOR ISSUING THE BONDS
The Bonds will be issued for the purpose of (a) financing the cost of acquiring, remodeling, and/or constructing various buildings and transportation infrastructure for tourism purposes and related purchases, renovations and or capital projects (collectively, the 'Project'), (b) funding any required deposit to a debt service reserve fund, and (c) paying costs of issuance with respect to the Bonds.
PARAMETERS OF THE BONDS
The Issuer intends to issue the Bonds in the aggregate principal amount of not more than Three Hundred Seventy Five Million Dollars ($375,000,000), to mature in not more than thirty-six (36) years from their date or dates, to be sold at a price of not less than ninety-seven percent (97%) of the total principal amount thereof, and to bear interest at a rate or rates not to exceed seven percent (7.0%) per annum. The Bonds are to be issued and sold by the Issuer pursuant to the Resolution, including as part of said Resolution a General Indenture of Trust and a Supplemental Indenture of Trust (together, the 'Indenture'), which will be before the Council in substantially final form at the time of the adoption of the Resolution.
REVENUES PROPOSED TO BE PLEDGED
The Bonds are special, limited obligations of the Issuer payable from all or any portion of the revenues produced by the transient room tax revenues, convention center hotel fees and pledged highway funds received by the Issuer and legally permitted to be used for the Project (the 'Revenues').
OUTSTANDING BONDS SECURED BY REVENUES
The Issuer currently has no bonds outstanding secured by the Revenues.
OTHER OUTSTANDING BONDS OF THE ISSUER
Additional information regarding the Issuer's outstanding bonds may be found in the Issuer's financial report (the 'Financial Report') at: https://reporting.auditor.utah.gov/searchreports/s/. For additional information, including any information more recent than as of the date of the Financial Report, please contact the office of the Issuer's Chief Financial Officer at (385) 468-7075.
TOTAL ESTIMATED COST OF BONDS
Based on an estimate of the current interest rate and financing plan, the estimated total debt service cost of the Bonds, if held until maturity is $443,123,347.69.
A copy of the Resolution and the Indenture are on file at the County Clerk's office (Room N2-700) in the Salt Lake County Government Center, 2001 So. State Street, Salt Lake City, Utah, where they may be examined during regular business hours 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 posting 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, the Indenture (but only as it relates to the Bonds), 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.
DATED this September 15, 2026.
County Clerk, Salt Lake County