Utah Public Procurement Place U3P #COB26001BAN

Bluffdale City Solicits $30M Sales Tax Revenue Bond Anticipation Notes for Railroad Underpass Project

Bluffdale City, Utah is seeking bids from qualified financial institutions to purchase $30,000,000 in Sales Tax Revenue Bond Anticipation Notes (BANs), Series 2026, to fund a railroad underpass project. - Government Buyer: - Bluffdale City, Utah (Administrative Services Director) - Financial Instrument Details: - $30,000,000 Sales Tax Revenue Bond Anticipation Notes, Series 2026 - 4-year term, maturing on February 1, 2030 - Interest payable semiannually from a senior lien on 100% of the City's local sales and use tax revenues - Principal to be repaid from future sales tax revenue bonds or state grant funds - Tax-exempt, non-rated notes - Flexible call options required, with optional redemption no later than July 1, 2027 - Vendor Requirements: - Only banks or consortia of banks may bid (no brokers, dealers, or municipal securities dealers) - Winning bidder must intend to hold the notes to maturity or earlier redemption - Investor letter required at closing - Compliance with Utah public contract boycott restrictions - Notable Parties: - U.S. Bank Trust Company (Trustee) - Gilmore Bell (Bond Counsel) - Stifel, Nicolaus & Company, Inc. (Municipal Advisor) - No specific OEMs or physical products are involved, as this is a financial instrument procurement.

Description

Bluffdale City, Utah is soliciting bids from interested parties to purchase Sales Tax Revenue Bond Anticipation Notes to finance the construction of a railroad underpass and related improvements. The notes have a par amount of $30,000,000 with a 4-year term maturing on February 1, 2030. Interest is payable from a senior lien on 100% of the local sales and use tax revenues, and principal is payable from proceeds of a future sales tax revenue bond or grant funds. Bids must be submitted by May 12, 2026, and questions are due by May 5, 2026.

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