Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

Notice of Bonds – Intermountain Power Agency (IPA): NOTICE OF BONDSOctober 3, 2024NOTICE TO REMAIN IN PLACE UNTIL November 4, 2024NOTICE IS HEREBY GIVEN that the Board of Directors of Intermountain Power Agency, a Utah interlocal entity (“IPA”), has approved the issuance of the bonds described below. This Notice of Bonds (this “Notice”) is published by IPA pursuant to Utah Code Section 11-13-219. On October 2, 2024, the IPA Board of Directors adopted that certain Sixty-Sixth Supplemental Power Supply Revenue Bond Resolution (the “Supplemental Resolution”) authorizing, among other things, the issuance (the “Issue”) of the following bonds (collectively, the “2024 Series A and B Bonds”): Power Supply Revenue Bonds, 2024 Series A (Tax-Exempt) and Power Supply Revenue Bonds, 2024 Series B (Federally Taxable). The Supplemental Resolution is supplemental to that certain Power Supply Revenue Bond Resolution adopted by IPA on September 28, 1978, as heretofore supplemented, amended and restated (the “Bond Resolution”). IPA anticipates selling the 2024 Series A and B Bonds pursuant to a Purchase Contract proposed to be entered into by IPA with the underwriters identified in such Purchase Contract.Issuer; Purpose of IssueThe issuer will be IPA. IPA owns the Intermountain Power Project, including the coal-fueled electric power generation facilities near Delta, Utah (the “Project”). The purposes of the Issue are to (i) finance a portion of the costs of replacing the existing coal-fueled generation facilities with two combined-cycle natural gas-fired power blocks with an approximate combined net generation capability of 840 MW, where “net generation capability” means gross power generation less auxiliary load for generation and transmission support, (ii) provide moneys sufficient to pay capitalized interest on the 2024 Series A and B Bonds through July 1, 2025, (iii) provide moneys for deposit to a debt service reserve account established under the Bond Resolution to provide security for the 2024 Series A and B Bonds, among others, and (iv) pay the costs of issuance of the 2024 Series A and B Bonds. Parameters of the 2024 Series A and B BondsThe 2024 Series A and B Bonds will be issued as revenue bonds in two series, each of which may contain, one or more term bonds, in the aggregate principal amount of not more than $175,000,000, to mature in not more than 21 years from their date or dates of delivery, to bear interest at a rate or rates not to exceed 6.000% per annum and to be sold at a discount from par of no more than 3.000% of the principal amount of the 2024 Series A and B Bonds issued.General Description of Security PledgedPursuant to the Bond Resolution, the 2024 Series A and B Bonds will be direct and special obligations of IPA payable solely from and secured solely by (i) the proceeds of the sale of bonds issued by IPA, (ii) IPA’s revenues from ownership and operation of the Project, and (iii) all funds and accounts established by the Bond Resolution (other than specified funds and accounts), including the investments and investment income of such funds and accounts as provided in the Bond Resolution. Neither the full faith and credit nor the taxing power of the State of Utah (the “State”) or any political subdivision or agency of the State will be pledged to the payment of the principal of, premium, if any, or interest on the 2024Series A and B Bonds.Page 2 of 2Total Par Amount of Outstanding BondsAs of the date of this Notice, the bonds issued by IPA currently outstanding that are secured by a pledge of the security described above on a parity with the 2024 Series A and B Bonds consist of the following (being the “Senior Bonds”): (i) the following (the “2022 Series A and B Bonds”): (a) the Power Supply Revenue Bonds, 2022 Series A (Tax-Exempt) in the aggregate principal amount of $732,755,000, and (b) the Power Supply Revenue Bonds, 2022 Series B (Federally Taxable) in the aggregate principal amount of $64,850,000, and (ii) the following (the “2023 Series A and B Bonds”): (a) the Power Supply Revenue Bonds, 2023 Series A (Tax-Exempt) in the aggregate principal amount of $767,650,000, and (b) the Power Supply Revenue Bonds, 2023 Series B (Federally Taxable) in the aggregate principal amount of $67,395,000. Other than the Senior Bonds, IPA has no other bonds or obligations outstanding that are secured by a pledge of the revenues pledged to secure the 2024 Series A and B Bonds.More Detailed Information Relating to Outstanding BondsMore detailed information regarding IPA’s outstanding bonds may be found in (i) IPA’s Official Statement dated April 28, 2022 relating to the 2022 Series A and B Bonds (at https://emma.msrb.org/P21572718-P21214692-P21636035.pdf), (ii) IPA’s Official Statement dated July 12, 2023 relating to the 2023 Series A and B Bonds (at https://emma.msrb.org/P11685885-P11297046-P11727440.pdf), and (ii) IPA’s Annual Disclosure Report for the 2022-2023 Fiscal Year dated as of March 29, 2024, including the Consolidated Financial Statements of IPA for the Years Ended June 30, 2023 and 2022 and Independent Auditors’ Report (at https://emma.msrb.org/P11745729-P11342207-P11777632.pdf). Estimated Total Cost of IssueThe estimated cost to IPA for the 2024 Series A and B Bonds, if such bonds are held to maturity, based on interest rates in effect as of the date of this Notice is equal to $286,483,187.Examination of Supplemental Resolution and Bond ResolutionA copy of the Supplemental Resolution and the Bond Resolution may be examined at the offices of IPA at 10653 S. River Front Parkway, Suite 120, South Jordan, UT 84095, Monday through Friday, from 8:00 a.m. to 5:00 p.m., for a period of 30 days from the date of this Notice set forth above. Reference is made to the Supplemental Resolution and the Bond Resolution for a complete description of the terms and conditions of such documents

Posted on , by Kevin Orton

Notice of Request for Bids to Install Concrete & Light at North Park Pickleball Courts

NOTICE of Invitation for Bids

Fillmore City is soliciting proposals to install concrete and fencing for a pickleball court located at the upper section of the Fillmore City North Park.   

Bid packets can be obtained at the Fillmore City Office Located at 75 West Center Street in Fillmore. Proposals must be sealed and submitted to the city office before 4:00 p.m. on September 9, 2024.  Bids will be opened on September 9, 2024 at 4:00 p.m. at the Fillmore City office located at 75 West Center Street, Fillmore, Utah. Any questions pertaining to the bid please contact Matt Haupt, Fillmore City Public Works Director at 435-253-0701.