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NOTICE OF BONDS TO BE REISSUED

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General Information

Government Type
Special Service District
Entity
Utah Transit Authority
Entity Website
http://www.rideuta.com
Public Body
Board of Trustees

Notice Information

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Notice Title
NOTICE OF BONDS TO BE REISSUED
Notice Tags
Public Transit District, Bonds
Notice Type(s)
Notice, Bond
Event Start Date & Time
September 23, 2020 03:00 PM
Event End Date & Time
October 23, 2020 03:00 PM
Event Deadline Date & Time
10/23/20 03:00 PM
Description/Agenda
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, that on September 23, 2020, the Board of Trustees (the 'Board') of the Utah Transit Authority (the 'Authority') adopted a resolution (the 'Resolution') expressing its intent to issue its sales tax revenue refunding bonds (to be issued from time to time, in one or more series and with such additional or other series designations and titles as may be determined by the Authority, the 'Bonds'). PURPOSE FOR ISSUING BONDS The Authority intends to issue the Bonds for the purpose of (i) refunding certain outstanding sales tax bonds of the Authority, (ii) funding a debt service reserve fund, if needed, and (iii) paying costs of issuing the Bonds. PARAMETERS OF THE BONDS The Authority intends to issue the Bonds in the aggregate principal amount of not to exceed Eighty-One Million Dollars ($81,000,000) to bear interest at a rate or rates of not to exceed Four percent (4.0%) per annum, to mature in not more than twenty (20) years from their date or dates, and to be sold at a price of not less than Ninety Eight percent (98.0%) of the total principal amount thereof. The Bonds are to be issued and sold pursuant to the Resolution, the Amended and Restated General Indenture of Trust, dated as of September 1, 2002, as heretofore amended and supplemented (previously executed by the Authority) and a Supplemental Indenture of Trust relating to the Bonds (collectively, the 'Indenture'). SALES TAXES AND REVENUES TO BE PLEDGED As provided in the Indenture, the Bonds will be limited obligations of the Authority payable from the sales taxes and revenues collected for the Authority's public transit system. Copies of the Resolution and a form of the Indenture are on file in the principal office of the Authority at 669 West 200 South in Salt Lake City, Utah, where they may be examined during regular business hours of the Authority for a period of at least thirty (30) days from and after the date of publication of this notice. NOTICE IS HEREBY 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 Indenture (but only as the same relate 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 23rd day of September, 2020. UTAH TRANSIT AUTHORITY
Notice of Special Accommodations (ADA)
Special Accommodation: Information related to this meeting is available in alternate format upon request by contacting calldredge@rideuta.com or (801) 287-3536. Request for accommodations should be made at least two business days in advance of the scheduled meeting.
Notice of Electronic or Telephone Participation
Telephone participation is not available.

Meeting Information

Meeting Location
669 West 200 South
Salt Lake City, UT 84101
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Notice Posting Details

Notice Posted On
September 23, 2020 02:57 PM
Notice Last Edited On
September 23, 2020 02:57 PM
Deadline Date
October 23, 2020 03:00 PM

Download Attachments

File Name Category Date Added
Notice of Bonds for Publication - UTA Refunding 2020B.pdf Public Information Handout 2020/09/23 02:56 PM

Board/Committee Contacts

Member Email Phone
Carlton Christensen, Chair, Trustee boardoftrustees@rideuta.com (801)287-2585
Jeff Acerson, Trustee, Chair boardoftrustees@rideuta.com (801)287-2585
Beth Holbrook, Trustee, Trustee boardoftrustees@rideuta.com (801)287-2585

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