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 statement, the bonds are intended to finance a fiber optic advanced communications network project.
The project aims to fund the acquisition, construction, and installation of advanced communication lines, equipment, and related facilities. The Agency intends to issue the bonds in an aggregate principal amount of no more than $25,000,000. These bonds will carry an interest rate not exceeding 6.00% per annum and will mature in no more than 27 years. The total estimated principal and interest cost of the bonds, if held until maturity, is $43,965,000.
The bonds are special limited obligations of the Agency, payable from revenues generated by the fiber optic network. The Agency currently has $268,075,000 in outstanding bonds secured by these revenues. The Agency also maintains other outstanding bonds secured by different revenue sources.
A public hearing to receive input on the bond issuance and the project's economic impact on the private sector is scheduled for October 5, 2026, at 8:30 a.m. The meeting will be held at 5858 South 900 East, Murray, Utah. The Agency's resolution and indenture are available for examination at its Murray offices during regular business hours.
Key details regarding the proposed bond issuance include:
Maximum principal amount: $25,000,000
Maximum interest rate: 6.00% per annum
Maximum maturity: 27 years
Purpose: Financing a fiber optic advanced communications network project
The Agency's financial reports can be found at https://reporting.auditor.utah.gov/searchreports/s/. For additional information, the Agency lists Jason Roberts, Chief Financial Officer, as a contact.
