NOTICE OF BONDS TO BE ISSUED PUBLIC HEARING

NOTICE IS HEREBY GIVEN that the Town of Brian Head, Utah (the “Issuer”) has obtain a commitment from the Utah Department of Environmental Quality, Water Quality Board for a loan, bearing interest at the rate or rates of 4.00% per annum, in the amount of $1,900,000 for sewer system improvements, including installation of wastewater lines, and related improvements, and accordingly pursuant to the provisions of the Utah Local Government Bonding Act, Title 11, Chapter 14, Utah Code Annotated 1953, as amended, that on March 26, 2024, the Town Council (the “Council”) of the Issuer adopted a resolution (the “Resolution”) in which it authorized the issuance and sale of the Issuer’s Sewer Revenue Bonds, Series 2024 (herein, the “Series 2024 Bonds”) in an aggregate principal amount not to exceed $2,500,000, to bear interest at a rate or rates not to exceed 5.50% per annum, to mature in not more than thirty-five (35) years from their date or dates, and to be sold at a price not less than ninety-eight percent (98%) of the total principal amount thereof.  If the Series 2024 Bonds are issued in the maximum amount for the maximum maturity then the amount to be repaid will be approximately $5,299,221.  However, assuming the bonds are issued in the approved amount of $1,900,000, bearing 4.00% interest for 30 years, then the amount to be repaid will be approximately $3,424,931. The Issuer currently has no outstanding Sewer revenue bonds.  As Sewer revenue bonds, no taxes will be pledged to secure the Series 2024 Bonds.

NOTICE IS FURTHER GIVEN that the Issuer called a public hearing for the purpose of inviting public comment on the proposed issuance of the Series 2024 Bonds and the economic impact that the improvements proposed to be financed with the Series 2024 Bonds will have on the private sector.  No taxes will be pledged to secure the Series 2024 Bonds.  The public hearing will be held on April 23, 2024, at 1:00 p.m., or as soon thereafter as feasible, at the Town of Brian Head Offices located at 56 N. Highway 143 in Brian Head, Utah.

The Series 2024 Bonds will be issued pursuant to the Resolution and a Final Bond Resolution to be adopted authorizing and confirming the sale of the Series 2024 Bonds (the “Final Bond Resolution”) for the purposes of (i) financing improvements to the Issuer’s Sewer system, including installation of wastewater line, and related matters, and (ii) paying the costs of issuing the Series 2024 Bonds.

A draft of the Final Bond Resolution in substantially final form was before the Council and was part of the Resolution at the time of the adoption of the Resolution by the Council (collectively, the “Bond Resolutions”). The Final Bond Resolution is to be adopted by the Council in such form and with such changes thereto as shall be approved by the Council upon the adoption thereof; provided that the principal amount, the interest rate, maturity, and discount of the Series 2024 Bonds will not exceed the maximums set forth above.

Copies of the Bond Resolutions are on file in the office of the Clerk of the Issuer in Brian Head Town, Utah, where they may be examined during regular business hours, i.e., between 8:30 a.m. and 4:00 p.m. Monday through Friday, for at least thirty (30) days from and after the date of publication of this notice.

NOTICE IS FURTHER GIVEN that, for a period of thirty (30) days from and after the date of the publication of this notice, any person in interest shall have the right to contest the legality of the Bond Resolutions or the Series 2024 Bonds, or any provision made for the security and payment of the Series 2024 Bonds by filing a verified written complaint in the district court of their county of residence, and that after such 30-day period, other than referendum rights no one shall have any cause of  action to contest the regularity, formality or legality thereof for any reason.

DATED: March 26, 2024.

/s/ ­­­­­­­­       Nancy Leigh       

            Town Clerk