The Utah Infrastructure Agency adopted a resolution on September 8, 2026, authorizing the issuance of Tax-Exempt Telecommunications Revenue Bonds, Series 2026. According to a September 8 notice, the Agency intends to use the funds for a fiber optic advanced communications network project.
The proposed bonds have an aggregate principal amount of up to $25,000,000. They are expected to carry an interest rate not exceeding 6.00% per annum and will mature in no more than 27 years. The total estimated cost of principal and interest, if held until maturity, is $43,965,000.
Proceeds from the bonds will be used to finance the acquisition, construction, and installation of advanced communication lines, equipment, and related improvements. Funds will also cover debt service reserve fund deposits, capitalized interest if necessary, and costs associated with issuing the bonds.
These bonds are special limited obligations of the Agency, payable from revenues generated by the Agency's fiber optic network. The Agency currently has $268,075,000 in outstanding bonds secured by these revenues.
A public hearing is scheduled for October 5, 2026, at 8:30 a.m. at the UTOPIA Offices located at 5858 South 900 East, Murray, Utah. The hearing aims to receive public input on the bond issuance and any potential economic impact the project may have on the private sector.
