NOTICE OF BONDS TO BE ISSUED
NOTICE IS HEREBY GIVEN pursuant to the provisions of the Public Infrastructure District Act, Title 17D, Chapter 4, and the Assessment Area Act, Title 11, Chapter 42 of the Utah Code Annotated 1953, as amended, that on November 15, 2024, the Board of Trustees (the 'Board') of the Three Bridges Public Infrastructure District No.1 (the 'District'), adopted a resolution (the 'Resolution') in which it authorized the issuance of the District's Special Assessment Bonds, Series 2024 (Three Bridges Assessment Area No.1) (the 'Series 2024 Bonds') (to be issued in one or more series and with such other series or title designation(s) as may be determined by the District).
PURPOSE FOR ISSUING THE SERIES 2024 BONDS
The Series 2024 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 capitalized interest, (c) funding a reserve fund or a surplus fund, and (d) paying costs of issuance of the Series 2024 Bonds.
PARAMETERS OF THE SERIES 2024 BONDS
The District intends to issue the Series 2024 Bonds in the aggregate principal amount of not more than Forty-Five Million Four Hundred Thousand Dollars ($45,400,000), to mature in not more than thirty (30) years from their date or dates, 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 2024 Bonds are to be issued and sold by the District 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 District in such form and with such changes thereto as shall be approved by the District; provided that the principal amount, interest rate or rates, maturity, and discount of the Series 2024 Bonds will not exceed the maximums set forth above. The District reserves the right to not issue the Series 2024 Bonds for any reason and at any time up to the issuance of the Series 2024 Bonds.
REVENUES TO BE PLEDGED
The Series 2024 Bonds are special assessment obligations of the District payable from assessments to be levied on property within the boundaries of the District (the 'Pledged Revenues').
OUTSTANDING BONDS SECURED BY PLEDGED REVENUES
The District currently has $-0- principal amount of bonds outstanding secured by the Pledged Revenues.
TOTAL ESTIMATED COST OF SERIES 2024 BONDS
Based on the District's current plan of finance and a current estimate of interest rates, the total principal and interest cost of the Series 2024 Bonds is estimated at approximately $82,147,322.08.
A copy of the Resolution and the Indenture are on file in the office of Snow Jensen & Reece, 912 West 1600 South, Suite B-200, St. George, Utah 84770, 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.
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 2024 Bonds), or the Series 2024 Bonds, or any provision made for the security and payment of the Series 2024 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 November 15, 2024.
/s/ Kevin Miller
Secretary/Clerk
Notice of Special Accommodations (ADA)
The District complies with the Americans with Disabilities Act by providing accommodations and auxiliary communicative aids and services for all those in need of assistance. Persons requesting these accommodations for public meetings should call Kristi Barker at 435-628-3688 at least 24 hours before the meeting.
Notice of Electronic or Telephone Participation
Unless otherwise noted on the posted Agenda, meetings of the Board of Trustees will be held in person. For meetings held via videoconferencing or telephonic communication Trustees and other meeting participants and attendees will be able to participate remotely. Persons requesting video conference or telephonic accommodation for public meetings should call Kristi Barker at 435-628-3688 to make arrangements.