UTA NOTICE OF BONDS TO BE ISSUED
General Information
- Government Type
- Special Service District
- Entity
- Utah Transit Authority
- Entity Website
- http://www.rideuta.com
- Public Body
- Board of Trustees
Notice Information
- Notice Title
- UTA NOTICE OF BONDS TO BE ISSUED
- Notice Type(s)
- Notice, Bond
- Event Start Date & Time
- May 29, 2025 06:30 PM
- Event End Date & Time
- June 28, 2025 06:30 PM
- Description/Agenda
- NOTICE OF BONDS TO BE ISSUED NOTICE IS HEREBY GIVEN pursuant to the provisions of the Utah Refunding Bond Act, Title 11, Chapter 27, Utah Code Annotated 1953, as amended, that on May 28, 2025, the Board of Trustees (the 'Board') of the Utah Transit Authority (the 'Authority') adopted a resolution (the 'Resolution') expressing its intent to issue its sales tax revenue refunding bonds (to be issued from time to time, in one or more series and with such additional or other series designations and titles as may be determined by the Authority (the 'Bonds')). PURPOSE FOR ISSUING BONDS The Authority intends to issue the Bonds for the purpose of (i) refunding outstanding bonds of the Authority, (ii) funding a debt service reserve fund, if needed, and (iii) paying costs of issuing the Bonds. PARAMETERS OF THE BONDS The Authority intends to issue the Bonds in the aggregate principal amount of not to exceed Eight Hundred Forty-Five Million Dollars ($845,000,000) to bear interest at a rate or rates of not to exceed five and a half percent (5.5%) per annum, to mature in not to exceed twenty (20) years, and to be sold at a price of not less than ninety-eight percent (98%) of the total principal amount thereof. The Bonds are to be issued and sold pursuant to the Resolution, either the Amended and Restated General Indenture of Trust, dated as of September 1, 2002, as heretofore amended and supplemented (previously executed by the Authority) and a Senior Supplemental Indenture of Trust relating to the Bonds (collectively, the 'Senior Indenture') and/or the Subordinate General Indenture of Trust, dated as of July 1, 2006, as heretofore amended and supplemented (previously executed by the Authority), and a Subordinate Supplemental Indenture of Trust relating to the Bonds (collectively, the 'Subordinate Indenture' and together with the Senior Indenture, the 'Indentures'). SALES TAXES AND REVENUES TO BE PLEDGED As provided in the Indentures, the Bonds will be limited obligations of the Authority payable from the sales taxes and revenues collected for the Authority's public transit system. Copies of the Resolution and forms of the Indentures are on file in the principal office of the Authority at 669 West 200 South in Salt Lake City, Utah, where they may be examined during regular business hours of the Authority for a period of at least thirty (30) days from and after the date of publication of this notice. NOTICE IS HEREBY 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 Indentures (but only as the same relate to the Bonds), 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 28th day of May 2025. UTAH TRANSIT AUTHORITY
- Notice of Special Accommodations (ADA)
- Special Accommodation: Information related to this notice is available in alternate format upon request by contacting adacompliance@rideuta.com or (801) 287-3536.
- Notice of Electronic or Telephone Participation
- Not applicable.
Meeting Information
- Meeting Location
-
669 W 200 S
Salt Lake City, UT 84101
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Notice Posting Details
- Notice Posted On
- May 29, 2025 06:29 PM
- Notice Last Edited On
- May 29, 2025 06:29 PM
Download Attachments
File Name | Category | Date Added |
---|---|---|
NOTICE OF BONDS TO BE ISSUED.pdf | Public Information Handout | 2025/05/29 06:27 PM |
Board/Committee Contacts
Member | Phone | |
---|---|---|
Carlton Christensen, Chair, Trustee | boardoftrustees@rideuta.com | (801)287-2585 |
Jeff Acerson, Trustee, Chair | boardoftrustees@rideuta.com | (801)287-2585 |
Beth Holbrook, Trustee, Trustee | boardoftrustees@rideuta.com | (801)287-2585 |