NOTICE OF BONDS TO BE ISSUED
NOTICE IS HEREBY GIVEN pursuant to the provisions of the Public Infrastructure District Act, Title 17D, Chapter 4, Utah Code Annotated 1953, as amended (the 'Act'), that on June 11, 2024, the Board of Trustees (the 'Board') of the Fields Estates Public Infrastructure District (the 'Issuer'), adopted a resolution (the 'Resolution') in which it authorized the issuance of the Issuer's Special Assessment Bonds, Series 2024A-2 (Fields Estates Assessment Area) (the 'Series 2024A-2 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 2024A-2 BONDS
The Series 2024A-2 Bonds will be issued for the purpose of (a) financing all or a portion of the cost of public infrastructure as permitted under the Special District Act, Title 17B, Utah Code Annotated 1953, as amended, (b) funding a reserve fund or a surplus fund, and (c) paying costs of issuance of the Series 2024A-2 Bonds.
PARAMETERS OF THE SERIES 2024A-2 BONDS
The Issuer intends to issue the Series 2024A-2 Bonds in the aggregate principal amount of not more than Twenty-One Million Nine Hundred and Thirty-Six Thousand Dollars ($21,936,000), to mature in not more than thirty (30) years from the date of the Resolution, 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 not to exceed twelve percent (12.00%) per annum. The Series 2024A-2 Bonds are to be issued and sold by the Issuer pursuant to the Resolution, including as part of said Resolution, an Indenture of Trust and Pledge (the 'Indenture') which was before the Board in substantially final form at the time of the adoption of the Resolution and said Indenture is to be executed by the Issuer in such form and with such changes thereto as shall be approved by the Issuer; provided that the principal amount, interest rate or rates, maturity, and discount of the Series 2024A-2 Bonds will not exceed the maximums set forth above. The Issuer reserves the right to not issue the Series 2024A-2 Bonds for any reason and at any time up to the issuance of the Series 2024A-2 Bonds.
REVENUES TO BE PLEDGED
The Series 2024A-2 Bonds are special assessment obligations of the Issuer payable from assessments to be levied on property within the boundaries of the Issuer (the 'Pledged Revenues').
OUTSTANDING BONDS SECURED BY PLEDGED REVENUES
The Issuer currently has $0 principal amount of bonds outstanding secured by the Pledged Revenues.
TOTAL ESTIMATED COST OF SERIES 2024A-2 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 Series 2024A-2 Bonds is estimated at approximately $50,691,854.
A copy of the Resolution and the Indenture are on file 10610 South Jordan Gateway, Suite 200, South Jordan, Utah 84095, where they may be examined during regular business hours from 9:00 a.m. to 4:00 p.m. Monday through Friday, for a period of at least thirty (30) days from and after the date of publication of this notice. For electronic copies of the Resolution and Indentures, please call (801) 527-1040 or email ashleyt@yorkhowell.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 Indenture (as it pertains to the Series 2024A-2 Bonds), or the Series 2024A-2 Bonds, or any provision made for the security and payment of the Series 2024A-2 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 June 11, 2024.
/s/ Bronson Tatton
Clerk/Secretary
Notice of Special Accommodations (ADA)
The District complies with the Americans with Disabilities Act by providing reasonable accommodations for those in need of assistance. Persons requesting accommodations for public meetings should call Ashley Tedesco at 801-527-1023 at least one (1) full business day before the meeting.
Notice of Electronic or Telephone Participation
Topic: Fields Estates Public Infrastructure District - Third Meeting (Public Hearing - Bonds)
Time: Jun 27, 2024 10:00 AM Mountain Time (US and Canada)
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