General Information

Government Type

Special Service District

Entity

Trails at Shurtz Canyon Public Infrastructure District

Public Body

Trails at Shurtz Canyon Public Infrastructure District

Notice Information

Add Notice to Calendar

Notice Title

Public Hearing Notice

Notice Tags

Bonds

Notice Type(s)

Notice, Meeting, Hearing

Event Start Date & Time

February 12, 2025 10:00 AM

Description/Agenda

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, that on January 22, 2025, the Board of Trustees (the 'Board') of the Trails at Shurtz Canyon Public Infrastructure District (the 'Issuer'), adopted a resolution (the 'Resolution') in which it authorizes the issuance of the Issuer's Limited Tax General Obligation Bonds, Series 2025A-1 (the '2025A-1 Senior Bonds') and Subordinate Limited Tax General Obligation Bonds, Series 2025B (the '2025B Subordinate Bonds' and collectively with the 2025A Senior Bonds, the 'Bonds') (to be issued in one or more series, under one or more indentures and with such other series or title designation(s) as may be determined by the Issuer) and holding a public hearing as described herein. PURPOSE, TIME, PLACE AND LOCATION OF PUBLIC HEARING The Issuer shall hold a public hearing on February 12, 2025 at the hour of 10:00 a.m. at 912 West 1600 South, Suite B-200, St. George, UT 84770 or electronically at zoom.us/join using Meeting ID: 814 6002 0308 and Passcode: 413575. 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. Comments received will be added to the public record at the public hearing. Public comment during the meeting will be allowed. PURPOSE FOR ISSUING THE BONDS The 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, (b) funding capitalized interest, (c) funding a surplus or reserve fund, and (d) paying costs related to the issuance of the Bonds. REVENUES TO BE PLEDGED The Bonds are Limited Tax General Obligation Bonds of the Issuer payable from all or any portion of (i) ad valorem property taxes of the Issuer, subject to a maximum rate of 0.006 per dollar of taxable value and (ii) revenues received by Issuer, if any, pursuant to one or more impact fee or infrastructure reimbursement agreements (collectively, the 'Pledged Revenues'). PARAMETERS OF THE BONDS The Issuer intends to issue the Bonds in the combined aggregate principal amount of not more than Ten Million Dollars ($10,000,000). The Bonds shall mature in not more than thirty-one (31) years from their date or dates and taxes being imposed for a period of up to forty (40) years from the first date of imposition thereof, 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 thirteen percent (13.0%) per annum. The Bonds are to be issued and sold by the Issuer pursuant to the Resolution, including as part of said Resolution, an Indenture of Trust (Senior), and an Indenture of Trust (Subordinate) (together, the 'Indentures'). OUTSTANDING BONDS SECURED BY REVENUES Other than the proposed Bonds, the Issuer currently has $-0- principal amount of bonds outstanding secured by the Pledged Revenues. TOTAL ESTIMATED COST OF 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 2025A-1 Senior Bonds is estimated at approximately $12,952,192, and of the 2025B Subordinate Bonds is estimated at approximately $3,931,886. A copy of the Resolution and the Indentures are on file at 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 5:00 p.m. 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 (435) 628-3688 or email mence@snowjensen.com. NOTICE IS FURTHER GIVEN that a period of thirty (30) days from and after the first 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 Indentures, 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 January 22, 2025. /s/ Ryan Howard

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.

Meeting Information

Meeting Location

912 W. 1600 S., SUITE B-200,
St George, UT 84770
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Contact Name

Michael Jensen

Contact Email

mjensen@snowjensen.com

Contact Phone

4356283688

Notice Posting Details

Notice Posted On

January 22, 2025 10:43 AM

Notice Last Edited On

January 22, 2025 10:43 AM

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