General Information

Government Type

Special Service District

Entity

UTOPIA

Public Body

UTOPIA Board

Notice Information

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Notice Title

UTOPIA Notice of Public Hearing

Notice Tags

Bonds, Sales and Use Tax

Notice Type(s)

Notice, Meeting, Hearing, Bond

Event Start Date & Time

November 23, 2022 09:00 AM

Event End Date & Time

November 23, 2022 10:30 AM

Description/Agenda

NOTICE OF PUBLIC HEARING 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 November 14, 2022, the Governing Board (the 'Board') of Utah Telecommunications Open Infrastructure Agency (the 'Issuer'), adopted a resolution (the 'Resolution') in which it authorized (i) supplementing the purposes of the Issuer's Sales Tax and Telecommunications Revenue Refunding Bonds, Series 2022 (the 'Bonds') as authorized in a parameters resolution adopted on October 11, 2022 (the 'Parameter Resolution') to include the financing of the acquisition and construction of certain improvements to the Issuer's wholesale fiber-optic network including the installation of advance communication lines, equipment and improvements (the '2022 Project'), and (ii) the holding of a public hearing to receive input from the public with respect to the issuance of the Bonds and any potential economic impact that the 2022 Project described herein to be financed with the proceeds of the Bonds may have on the private sector. TIME, PLACE AND LOCATION OF PUBLIC HEARING A public hearing with respect to the issuance of the Bonds will be held on (i) November 23, 2022 at the hour of 9:00 a.m. MST and (ii) December 1, 2022 at the hour of 8:30 a.m. MST both at the offices of the Issuer at 5858 South 900 East, Murray, Utah 84121. PURPOSES FOR ISSUING THE BONDS The Bonds will be issued for the purposes of (a) refunding all of the Issuer's Tax-Exempt Adjustable Rate Telecommunication and Sales Tax Revenue Refunding Bonds, Series 2011A (the 'Series 2011A Bonds') and Taxable Adjustable Rate Telecommunications and Sales Tax Revenue Refunding Bonds, Series 2011B (the 'Series 2011B' Bonds and together with the Series 2011A Bonds, the 'Refunded Bonds'), (b) providing for termination payments of certain interest rate swap agreements associated with the Refunded Bonds, (c) financing of the acquisition and construction of the 2022 Project, and (d) paying costs of issuance of the Bonds. PARAMETERS OF THE BONDS The Issuer intends to issue the Bonds in the aggregate principal amount of not more than Two Hundred and Thirty Million Dollars ($230,000,000), to mature in not more than twenty (20) years from their date or dates, to be sold at a price of not less than ninety-seven percent (97.00%) of the total principal amount thereof, and to bear interest at a rate or rates not to exceed six percent (6.00%) per annum. The Bonds are to be issued and sold by the Issuer pursuant to the Resolution and the Parameters 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 Board in substantially final form at the time of the adoption of the Resolution. EXCISE TAXES PROPOSED TO BE PLEDGED The Issuer proposes to pledge toward the payment of the Bonds the Local Sales and Use Tax Revenues received by the Pledging Members of the Issuer (as defined in the Indenture) pursuant to Title 59, Chapter 12, Part 2, Utah Code, and pledged to the Issuer pursuant to the Pledge Agreements (as defined in the Indenture) between the Issuer and the Pledging Members. A copy of the Resolution, the Parameters Resolution and the Indenture will be on file in the office of the Secretary of the Issuer at 5858 South 900 East, Murray, Utah 84121, where they may be examined during regular business hours of the Secretary from 8:00 a.m. to 5:00 p.m., Monday through Friday

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 Christa Evans at 801-613-3862.

Notice of Electronic or Telephone Participation

Board members may participate electronically For electronic participation contact cevans@utopiafiber.com at least 24 hours in advance of meeting.

Meeting Information

Meeting Location

5858 SOUTH 900 EAST
MURRAY, UT 84121
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Contact Name

Christa Evans

Contact Email

cevans@utopiafiber.com

Contact Phone

(801)613-3862

Notice Posting Details

Notice Posted On

May 25, 2022 04:41 PM

Notice Last Edited On

November 17, 2022 03:38 PM

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