EXHIBIT A
NOTICE OF INTENT TO ISSUE LEASE REVENUE BONDS FOR THE WEST
DISTRICT AND HOLD PUBLIC HEARING BOARD OF EDUCATION AND LOCAL BUILDING AUTHORITY OF ALPINE SCHOOL DISTRICT, UTAH
PUBLIC NOTICE IS HEREBY GIVEN that the Local Building Authority of Alpine School
District, Utah County, Utah (the 'Authority') intends to issue lease revenue bonds (the
'Bonds') in the aggregate principal amount of not to exceed $238,000,000 and to mature in not
more than 31 years from their date or dates. The Board of Education of Alpine School District,
Utah County, Utah (the 'Board of Education') and the Board of Trustees (the 'Board of
Trustees') of the Authority will consider resolutions providing for the issuance of the Bonds at
meetings that begin at 6:00 p.m. on April 22, 2025, at 575 North 100 East, American Fork, Utah
84003.
Authority for the Bonds. The Bonds are being issued pursuant to the Local Building
Authority Act, Title 17D, Chapter 2, and Title 53G, Chapter 3, Part 3 of the Utah Code
Annotated 1953, as amended (the 'Utah Code'), and in particular, Section 53G-3-302 of the Utah Code.
Purpose for Issuing Bonds. The Authority intends to issue the Bonds for the purpose of
(1) paying the costs incurred in connection with the issuance and sale of the Bonds and (2)
financing all or a portion of the costs of the acquisition, construction, and improvement of a high
school and elementary school(s) (collectively, the 'Project'). The estimated annual amount that
the Authority will be required to pay in principal and interest on the Bonds is $17,540,000.
Payments under the Lease relating to the Project and debt service on the Bonds shall be paid
pursuant to Sections 53G-3-302 (5)(a)(i) et seq.
Exhibit A-2
Type of Bonds and Annual Lease Payment. The Bonds are expected to be issued and sold by the Authority as lease revenue
bonds pursuant to an Indenture of Trust (the 'Indenture'), a Master Lease Agreement (the 'Lease') between the Authority
and the Board of Education and a Ground Lease (the 'Ground Lease') between the Authority and the Board of Education. The
rights and obligations of the Board of Education under the Master Lease and Ground Lease are expected to be transferred to the
Board of Education of the West District (the 'West District Board') pursuant to Sections 53G-3-302(6)(a) and 53G-3-306 of the Utah Code.
The expected annual amount of lease payments that the West District Board will pay under the Lease is $17,540,000. Payments under the
Lease relating to the Project shall be paid pursuant to Sections 53G-3-302 (5)(a)(i) et seq.
This proposed lease revenue bond commits money from future property tax and income
tax revenue allocated to the school district. Additionally, a lease revenue bond generally has a
higher interest cost than a voter-approved general obligation bond.
Project Approved by Voters of West District. A majority of voters in the West District
approved the acquisition, construction, and improvement of the Project in the bond election held
by the Board of Education on November 8, 2022 (the 'Bond Election').
Time, Place and Location of Public Hearings. The Board of Education and the Board of
Trustees will hold public hearings to (a) explain the reasons for the issuance of the Bonds, (b)
provide members of the public an opportunity to present testimony on the proposed issuance of
the Bonds and (c) receive input from the public with respect to the issuance of the Bonds and the Project
during meetings that begin at approximately 6:00 p.m. on April 22, 2025. The public
hearing will be held at 575 North 100 East, American Fork, Utah 84003. All members of the
public are invited to attend and participate in the public hearings. Prior to the public hearings,
written comments may be submitted to the Authority, to the attention of the Business
Administrator, 575 North 100 East, American Fork, Utah 84003.
DATED March 25, 2025.
BOARD OF EDUCATION OF ALPINE SCHOOL DISTRICT, UTAH COUNTY, UTAH and
LOCAL BUILDING AUTHORITY OF ALPINE SCHOOL DISTRICT, UTAH COUNTY, UTAH
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 Kevin Thomas, 801-610-8548, 24 hours prior to the meeting.