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Council Provided Information - 8/15/2022
Names of Projects Departments Sales Tax Bond GO Bond General Fund GF FOF CLASS C IMPACT FEES ¼¢ SALES TAX ARPA Sales Tax Bonds City Cemetery Irrigation, Road Repairs & Reconstruction Public Lands $11,200,000 Pioneer Park Improvements Public Lands $10,000,000 Eligible 600 North Corridor Transformation Transporation $9,753,000 10% Eligible Radio Towers IMS $7,500,000 Central Plant Electrical Transformer Upgrade & Emergency Backup Generators Public Services $6,100,000 Westside Railroad Quiet Zones Public Services $6,100,000 Warm Spring Plunge Structure Stabilization & Improvements Public Services $8,000,000 Smith's Ballpark Improvements Public Services $3,000,000 Urban Wood Reutilization Equipment and Storage Additions Public Lands $2,000,000 Fisher Mansion Stabilization & Improvements Public Services $3,000,000 GO Bond (to be considered by voters - would not impact FY2023 property taxes) Glendale Regional Park Public Lands $27,000,000 100% Eligible Eligible Jordan River Corridor Improvements Public Lands $9,000,000 Partially Eligible Allen Park Public Lands $4,500,000 100% Eligible Neighborhood parks, trails or open space with at least one per Council District Public Lands $10,500,000 $3 million Eligible Fleet Block Park Public Lands $6,000,000 100% Eligible Eligible Liberty Park Playground Public Lands $2,000,000 Folsom Trail Completion Public Lands $5,000,000 100% Eligible Fairmont Park Improvements Public Lands $5,000,000 20% contingency Public Lands $16,000,000 400 South Safety Improvements Transporation $513,313 200 South Reconstruction / Transit Corridor Supplement Transporation $2,700,242 $2,643 $252,000 $1,300,000 Three Creeks West Roadways Public Lands & Public Utilities $1,359,130 300 North Complete Street Reconstruction Supplement Transporation $500,000 $40,000 Rose Park Neighborhood Center Community Garden Public Lands $160,819 Eligible Street Improvements 2022/2023 Public Services $3,000,000 Public Lands Asset Management Plan Public Lands $160,160 Transit Capital for Frequent Transit Routes Investments Transporation $990,000 $110,000 Facilities Asset Renewal Plan FY23 Public Services $1,192,357 Bridge Replacement (650 North over Jordan River)Public Services $3,700,000 Public Way Concrete 2022/2023 Public Services $436,281 Alleyway Improvements 2022/2023 Engineering $142,919 Urban Farm Development at 2200 West Public Lands $425,040 Eligible RAC Playground Phase II Public Lands $521,564 700 South (Phase 7, 4600 W to 5000 W)Engineering $850,000 $1,120,000 900 South River Park Soccer Field Public Lands $287,848 Memorial Tree Groves Design and Infrastructure Public Lands $867,962 Streets Steam Bay Expansion Public Services $597,792 Restoration of CCB Reimburse by Insurance Public Services $2,000,000 Hand Held Radios IMS $3,700,000 Complete Streets Transporation $2,500,000 Parks Maintenance Public Lands $2,000,000 Maintenance of Vacant City Owned Facilities Public Services $700,000 FUNDED CIP New & Maintenance Projects Attachment 5 - FY2023 Capital Investments Summary Sheet (GO Bond, Sales Tax Bond and CIP) Last Updated August 16, 2022 Names of Projects Departments Sales Tax Bond GO Bond General Fund GF FOF CLASS C IMPACT FEES ¼¢ SALES TAX ARPA California Avenue Safety Improvement Study Transportation $100,000 Sunnyside Ave Pedestrian Safety Improvements Transportation $400,000 1000 West Fairpark Traffic Circle Design Study Transportation $81,000 Gateway Triangle Property Park Public Lands $499,563 1.5% for Art Arts Council $156,107 CIP Cost Overrun Account CAN $360,803 Lighting for Northeast Baseball Field in Riverside Park Public Lands $300,000 Totals $66,653,000 $85,000,000 $13,832,787 $5,035,000 $3,000,000 $4,159,756 $8,000,000 $0 900 West Corridor Transportation & Public Utilities 1,000,000$ 2100 South Conceptual Design / Corridor Transformation Transportation 250,000$ Livable Streets Implementation Transportation 2,700,000$ 300,000$ Highland Drive / 1100 E Complete Street & Parley's Trail Supplement (1700 S-I-80)Transportation 245,000$ 3,255,000$ Public Lands ADA Walkway and Asphalt Replacement Public Lands 873,062$ Jordan River Peace Labyrinth Park Improvements Public Lands 500,000$ Eligible Playground Replacement Public Lands 1,874,063$ Madsen Park Renewal Public Lands 500,000$ Folsom Trail Landscaping Phase I Public Lands 1,767,908$ Liberty Wells Traffic Calming Transportation 420,000$ Cottonwood Park Pavilions Public Lands 756,094$ 400 North Street Improvement Transportation 599,746$ Court Resurfacing Public Lands 1,478,739$ Ballpark Study Implementation - Phase 1 Transportation 450,000$ 50,000$ Local Streets 2023 Reconstruction Supplement Transportation 200,000$ SLC Cemetery Infrastructure Repairs Public Lands 500,000$ 1000 W intersection upgrades at 300 N and 400 N Transportation 539,693$ Tree Succession Design for Liberty Park Public Lands 90,160$ Jordan River Tree Planting and Irrigation Public Lands 210,834$ Riverview Native Plant Center Phase 1A Public Lands 412,160$ Sugar House Safe Side Streets Part 2 Transportation 400,000$ Replacement Traffic Signals (4)Transportation 1,260,000$ 140,000$ Brentwood Circle Storm Water Drainage Public Utilities 160,129$ Partially Eligible Multi-modal Transportation Safety Improvements Transportation 270,000$ 30,000$ Taufer Park Revamp Public Lands 50,000$ Library Plaza Repair and Improvements Public Lands 205,755$ Replacement Traffic Signal; Asset Condition Report Transportation 415,000$ 35,000$ NW Quadrant trails and Greenway Planning Public Lands 257,600$ Future Transformations: Corridor and Area Studies Transportation 150,000$ Reopen Dinwoody Park as a Public Park Public Lands 71,198$ Folsom Trail- Request on behalf of River District Business Alliance Transportation 500,000$ Bridge Replacement (200 South over Jordan River) Public Services 3,500,000$ Public Lands 5-Year Strategic Plan Public Lands 154,000$ Bridge Rehabilitation (400 South over the Jordan River) Public Services 1,700,000$ Replace Fairpark Tennis Courts with New Sports Court Public Lands 496,109$ CIP Projects NOT Funded (in order of CDCIP Board Scores) Attachment 5 - FY2023 Capital Investments Summary Sheet (GO Bond, Sales Tax Bond and CIP) Last Updated August 16, 2022 Names of Projects Departments Sales Tax Bond GO Bond General Fund GF FOF CLASS C IMPACT FEES ¼¢ SALES TAX ARPA Jordan Park and International Peace Gardens Master Plan and CLR Public Lands 251,160$ 1200 East Median, Raise Curb, new irrigation, new tree planting Public Lands 500,000$ Neighborhood Identification Equity Project Transportation 245,215$ Urban Wood Reutilization Public Lands 206,080$ Mixed-Use Three-Story Fire Prop Fire 856,690$ Memory Grove Master Plan and Cultural Landscape Report Public Lands 341,320$ Multimodal Capital Maintenance Transportation 225,000$ 25,000$ Rose Park Open Space Concepts Public Lands 154,560$ Back Alley Block Project Public Services 517,500$ Lindsey Gardens Natural Springs Pollinator Garden Public Lands 500,000$ Rail Adjacent Pavement Improvements 2022/2023 Public Services 70,000$ 337 S 400 E Pocket Park Improvement Public Lands 54,096$ Rose Park Community Pump Track Public Lands 498,584$ Training Ground Site Improvements Fire 755,991$ Yalecrest Traffic Calming Transportation 240,000$ East Bench Traffic Calming and Pedestrian Safety Transportation 467,929$ Jefferson Park Walking Path Public Lands 496,472$ Project Management Software Renewal Public Services 79,999$ Wingpointe Levee Design Public Services 800,000$ Welcome Signage Transportation 500,000$ Mountain Dell Disc Golf Course Public Lands 500,000$ Sugar House Crosswalk Murals Transportation 50,000$ First Encampment Park Public Lands 363,916$ 1200 E Curb/Gutter/Sidewalk Public Services & Public Utilities 275,919$ South Belaire Dr Road Reconstruction Public Services 699,650$ Repair Alley #4195 after 9th South rebuild project Public Services 72,450$ Pave Benchmark Circle Public Services 199,307$ Harvey Milk Blvd. Rainbow Crosswalk Transportation 459,346$ Storm Drains 1100 East South of Zenith Ave Public Utilities 92,735$ Notes: The Public Services Department includes the Facilities Division (city owned buildings) and the Engineering Division (street and alley projects) The GF FOF column includes funding proposed for parks maintenance and an amount "off the top" available to any capital project The Impact Fees column includes transportation impact fees and parks impact fees Attachment 5 - FY2023 Capital Investments Summary Sheet (GO Bond, Sales Tax Bond and CIP) Last Updated August 16, 2022 Note: All figures are preliminary estimates.Prepared by Stifel SALT LAKE CITY, UTAH SALES AND EXCISE TAX REVENUE BONDS Based on current market interest rates as of August 10, 2022 Scenario A - 20-Year Level Total Debt Service and both Tax-Exempt and Taxable 20-Year Level Debt Service Scenario B - 20-Year Level Total Debt Service - More expensive taxable bonds amortized first, however the overall debt service remains level Tax-Exempt Taxable Total Tax-Exempt Taxable Total Date Dec-22 Dec-22 Dec-22 Dec-22 Term 20 Years 20 Years 20 Years 20 Years 10 Years 20 Years Construction Costs (Bond Proceeds)$42,553,000 $24,100,000 $66,653,000 $42,553,000 $24,100,000 $66,653,000 Bond Principal (Borrowed Amount)$37,270,000 $24,265,000 $61,535,000 $37,075,000 $24,270,000 $61,345,000 Bond Premium (Market Driven, if any)$5,541,116 $0 $5,541,116 $5,731,714 $0 $5,731,714 Total Bond/Cash Proceeds $42,811,116 $24,265,000 $67,076,116 $42,806,714 $24,270,000 $67,076,714 True Interest Cost 3.440%4.302%3.756%3.709%3.712%3.709% Average Annual Debt Service (beginning FYE 2024)$2,947,563 $1,804,936 $4,752,499 $1,853,750 (2024-2033) $4,735,000 (2034-2043) $2,882,017 $4,735,207 Total Principal & Interest $59,505,124 $36,393,884 $95,899,007 $66,241,101 $29,273,589 $95,514,690 8/10/2022 Scenario 1 Scenario 2 Scenario 1 Preliminary; subject to change. SALT LAKE CITY, UTAH $61,535,000 SALES AND EXCISE TAX REVENUE BONDS SERIES 2022 B&C (December 14, 2022 ) ($66.653MM New Money, 20-Years Level) Table of Contents Report ISSUE SUMMARY Total Issue Sources And Uses 1 Debt Service Schedule 2 Net Debt Service Schedule 3 SERIES B - TAX-EXEMPT Debt Service Schedule 4 Net Debt Service Schedule 5 Pricing Summary 6 SERIES C - TAXABLE Debt Service Schedule 7 Net Debt Service Schedule 8 Pricing Summary 9 2022BC STR $66.653MM New | Issue Summary | 8/10/2022 | 12:04 PM Stifel Prepared by Stifel, Nicolaus & Company, Inc. (EJR) Preliminary; subject to change. SALT LAKE CITY, UTAH $61,535,000 SALES AND EXCISE TAX REVENUE BONDS SERIES 2022 B&C (December 14, 2022 ) ($66.653MM New Money, 20-Years Level) Total Issue Sources And Uses Dated 12/14/2022 | Delivered 12/14/2022 Series B - Tax- Exempt Series C - Taxable Issue Summary Sources Of Funds Par Amount of Bonds $37,270,000.00 $24,265,000.00 $61,535,000.00 Reoffering Premium 5,541,116.25 -5,541,116.25 Total Sources $42,811,116.25 $24,265,000.00 $67,076,116.25 Uses Of Funds Deposit to Project Construction Fund 42,553,000.00 24,100,000.00 66,653,000.00 Costs of Issuance 151,931.47 98,068.53 250,000.00 Total Underwriter's Discount (0.275%)102,492.50 66,728.75 169,221.25 Rounding Amount 3,692.28 202.72 3,895.00 Total Uses $42,811,116.25 $24,265,000.00 $67,076,116.25 2022BC STR $66.653MM New | Issue Summary | 8/10/2022 | 12:04 PM Stifel Prepared by Stifel, Nicolaus & Company, Inc. (EJR)Page 1 Preliminary; subject to change. SALT LAKE CITY, UTAH $61,535,000 SALES AND EXCISE TAX REVENUE BONDS SERIES 2022 B&C (December 14, 2022 ) ($66.653MM New Money, 20-Years Level) Debt Service Schedule Date Principal Coupon Interest Total P+I Fiscal Total 12/14/2022 ----- 04/01/2023 --849,028.50 849,028.50 - 06/30/2023 ----849,028.50 10/01/2023 1,935,000.00 4.331%1,428,272.25 3,363,272.25 - 04/01/2024 --1,386,373.50 1,386,373.50 - 06/30/2024 ----4,749,645.75 10/01/2024 2,025,000.00 4.379%1,386,373.50 3,411,373.50 - 04/01/2025 --1,342,032.75 1,342,032.75 - 06/30/2025 ----4,753,406.25 10/01/2025 2,115,000.00 4.393%1,342,032.75 3,457,032.75 - 04/01/2026 --1,295,574.00 1,295,574.00 - 06/30/2026 ----4,752,606.75 10/01/2026 2,210,000.00 4.342%1,295,574.00 3,505,574.00 - 04/01/2027 --1,247,592.00 1,247,592.00 - 06/30/2027 ----4,753,166.00 10/01/2027 2,310,000.00 4.391%1,247,592.00 3,557,592.00 - 04/01/2028 --1,196,872.00 1,196,872.00 - 06/30/2028 ----4,754,464.00 10/01/2028 2,415,000.00 4.405%1,196,872.00 3,611,872.00 - 04/01/2029 --1,143,687.50 1,143,687.50 - 06/30/2029 ----4,755,559.50 10/01/2029 2,520,000.00 4.429%1,143,687.50 3,663,687.50 - 04/01/2030 --1,087,878.50 1,087,878.50 - 06/30/2030 ----4,751,566.00 10/01/2030 2,640,000.00 4.458%1,087,878.50 3,727,878.50 - 04/01/2031 --1,029,033.50 1,029,033.50 - 06/30/2031 ----4,756,912.00 10/01/2031 2,755,000.00 4.483%1,029,033.50 3,784,033.50 - 04/01/2032 --967,276.00 967,276.00 - 06/30/2032 ----4,751,309.50 10/01/2032 2,885,000.00 4.565%967,276.00 3,852,276.00 - 04/01/2033 --901,421.00 901,421.00 - 06/30/2033 ----4,753,697.00 10/01/2033 3,020,000.00 4.627%901,421.00 3,921,421.00 - 04/01/2034 --831,549.75 831,549.75 - 06/30/2034 ----4,752,970.75 10/01/2034 3,160,000.00 4.668%831,549.75 3,991,549.75 - 04/01/2035 --757,798.50 757,798.50 - 06/30/2035 ----4,749,348.25 10/01/2035 3,315,000.00 4.708%757,798.50 4,072,798.50 - 04/01/2036 --679,761.00 679,761.00 - 06/30/2036 ----4,752,559.50 10/01/2036 3,475,000.00 4.748%679,761.00 4,154,761.00 - 04/01/2037 --597,257.25 597,257.25 - 06/30/2037 ----4,752,018.25 10/01/2037 3,645,000.00 4.788%597,257.25 4,242,257.25 - 04/01/2038 --509,996.00 509,996.00 - 06/30/2038 ----4,752,253.25 10/01/2038 3,825,000.00 4.831%509,996.00 4,334,996.00 - 04/01/2039 --417,605.00 417,605.00 - 06/30/2039 ----4,752,601.00 10/01/2039 4,015,000.00 4.831%417,605.00 4,432,605.00 - 04/01/2040 --320,618.00 320,618.00 - 06/30/2040 ----4,753,223.00 10/01/2040 4,210,000.00 4.832%320,618.00 4,530,618.00 - 04/01/2041 --218,910.00 218,910.00 - 06/30/2041 ----4,749,528.00 10/01/2041 4,420,000.00 4.832%218,910.00 4,638,910.00 - 04/01/2042 --112,117.00 112,117.00 - 06/30/2042 ----4,751,027.00 10/01/2042 4,640,000.00 4.833%112,117.00 4,752,117.00 - 06/30/2043 ----4,752,117.00 Total $61,535,000.00 -$34,364,007.25 $95,899,007.25 - Yield Statistics Bond Year Dollars $726,712.07 Average Life 11.810 Years Average Coupon 4.7286964% Net Interest Cost (NIC)3.9894910% True Interest Cost (TIC)3.7563753% Bond Yield for Arbitrage Purposes 3.5191892% All Inclusive Cost (AIC)3.7985052% IRS Form 8038 Net Interest Cost 3.6237530% Weighted Average Maturity 11.858 Years 2022BC STR $66.653MM New | Issue Summary | 8/10/2022 | 12:04 PM Stifel Prepared by Stifel, Nicolaus & Company, Inc. (EJR)Page 2 Preliminary; subject to change. SALT LAKE CITY, UTAH $61,535,000 SALES AND EXCISE TAX REVENUE BONDS SERIES 2022 B&C (December 14, 2022 ) ($66.653MM New Money, 20-Years Level) Net Debt Service Schedule Date Principal Coupon Interest Total P+I Net New D/S 06/30/2023 --849,028.50 849,028.50 849,028.50 06/30/2024 1,935,000.00 4.331%2,814,645.75 4,749,645.75 4,749,645.75 06/30/2025 2,025,000.00 4.379%2,728,406.25 4,753,406.25 4,753,406.25 06/30/2026 2,115,000.00 4.393%2,637,606.75 4,752,606.75 4,752,606.75 06/30/2027 2,210,000.00 4.342%2,543,166.00 4,753,166.00 4,753,166.00 06/30/2028 2,310,000.00 4.391%2,444,464.00 4,754,464.00 4,754,464.00 06/30/2029 2,415,000.00 4.405%2,340,559.50 4,755,559.50 4,755,559.50 06/30/2030 2,520,000.00 4.429%2,231,566.00 4,751,566.00 4,751,566.00 06/30/2031 2,640,000.00 4.458%2,116,912.00 4,756,912.00 4,756,912.00 06/30/2032 2,755,000.00 4.483%1,996,309.50 4,751,309.50 4,751,309.50 06/30/2033 2,885,000.00 4.565%1,868,697.00 4,753,697.00 4,753,697.00 06/30/2034 3,020,000.00 4.627%1,732,970.75 4,752,970.75 4,752,970.75 06/30/2035 3,160,000.00 4.668%1,589,348.25 4,749,348.25 4,749,348.25 06/30/2036 3,315,000.00 4.708%1,437,559.50 4,752,559.50 4,752,559.50 06/30/2037 3,475,000.00 4.748%1,277,018.25 4,752,018.25 4,752,018.25 06/30/2038 3,645,000.00 4.788%1,107,253.25 4,752,253.25 4,752,253.25 06/30/2039 3,825,000.00 4.831%927,601.00 4,752,601.00 4,752,601.00 06/30/2040 4,015,000.00 4.831%738,223.00 4,753,223.00 4,753,223.00 06/30/2041 4,210,000.00 4.832%539,528.00 4,749,528.00 4,749,528.00 06/30/2042 4,420,000.00 4.832%331,027.00 4,751,027.00 4,751,027.00 06/30/2043 4,640,000.00 4.833%112,117.00 4,752,117.00 4,752,117.00 Total $61,535,000.00 -$34,364,007.25 $95,899,007.25 $95,899,007.25 2022BC STR $66.653MM New | Issue Summary | 8/10/2022 | 12:04 PM Stifel Prepared by Stifel, Nicolaus & Company, Inc. (EJR)Page 3 Preliminary; subject to change. SALT LAKE CITY, UTAH $37,270,000 SALES AND EXCISE TAX REVENUE BONDS SERIES 2022B (December 14, 2022 ) ($42.553MM New Money, 20-Years Level) Debt Service Schedule Date Principal Coupon Interest Total P+I Fiscal Total 12/14/2022 ----- 04/01/2023 --553,873.61 553,873.61 - 06/30/2023 ----553,873.61 10/01/2023 1,110,000.00 5.000%931,750.00 2,041,750.00 - 04/01/2024 --904,000.00 904,000.00 - 06/30/2024 ----2,945,750.00 10/01/2024 1,170,000.00 5.000%904,000.00 2,074,000.00 - 04/01/2025 --874,750.00 874,750.00 - 06/30/2025 ----2,948,750.00 10/01/2025 1,230,000.00 5.000%874,750.00 2,104,750.00 - 04/01/2026 --844,000.00 844,000.00 - 06/30/2026 ----2,948,750.00 10/01/2026 1,290,000.00 5.000%844,000.00 2,134,000.00 - 04/01/2027 --811,750.00 811,750.00 - 06/30/2027 ----2,945,750.00 10/01/2027 1,360,000.00 5.000%811,750.00 2,171,750.00 - 04/01/2028 --777,750.00 777,750.00 - 06/30/2028 ----2,949,500.00 10/01/2028 1,430,000.00 5.000%777,750.00 2,207,750.00 - 04/01/2029 --742,000.00 742,000.00 - 06/30/2029 ----2,949,750.00 10/01/2029 1,500,000.00 5.000%742,000.00 2,242,000.00 - 04/01/2030 --704,500.00 704,500.00 - 06/30/2030 ----2,946,500.00 10/01/2030 1,580,000.00 5.000%704,500.00 2,284,500.00 - 04/01/2031 --665,000.00 665,000.00 - 06/30/2031 ----2,949,500.00 10/01/2031 1,660,000.00 5.000%665,000.00 2,325,000.00 - 04/01/2032 --623,500.00 623,500.00 - 06/30/2032 ----2,948,500.00 10/01/2032 1,745,000.00 5.000%623,500.00 2,368,500.00 - 04/01/2033 --579,875.00 579,875.00 - 06/30/2033 ----2,948,375.00 10/01/2033 1,835,000.00 5.000%579,875.00 2,414,875.00 - 04/01/2034 --534,000.00 534,000.00 - 06/30/2034 ----2,948,875.00 10/01/2034 1,925,000.00 5.000%534,000.00 2,459,000.00 - 04/01/2035 --485,875.00 485,875.00 - 06/30/2035 ----2,944,875.00 10/01/2035 2,025,000.00 5.000%485,875.00 2,510,875.00 - 04/01/2036 --435,250.00 435,250.00 - 06/30/2036 ----2,946,125.00 10/01/2036 2,130,000.00 5.000%435,250.00 2,565,250.00 - 04/01/2037 --382,000.00 382,000.00 - 06/30/2037 ----2,947,250.00 10/01/2037 2,240,000.00 5.000%382,000.00 2,622,000.00 - 04/01/2038 --326,000.00 326,000.00 - 06/30/2038 ----2,948,000.00 10/01/2038 2,355,000.00 5.000%326,000.00 2,681,000.00 - 04/01/2039 --267,125.00 267,125.00 - 06/30/2039 ----2,948,125.00 10/01/2039 2,475,000.00 5.000%267,125.00 2,742,125.00 - 04/01/2040 --205,250.00 205,250.00 - 06/30/2040 ----2,947,375.00 10/01/2040 2,600,000.00 5.000%205,250.00 2,805,250.00 - 04/01/2041 --140,250.00 140,250.00 - 06/30/2041 ----2,945,500.00 10/01/2041 2,735,000.00 5.000%140,250.00 2,875,250.00 - 04/01/2042 --71,875.00 71,875.00 - 06/30/2042 ----2,947,125.00 10/01/2042 2,875,000.00 5.000%71,875.00 2,946,875.00 - 06/30/2043 ----2,946,875.00 Total $37,270,000.00 -$22,235,123.61 $59,505,123.61 - Yield Statistics Bond Year Dollars $444,702.47 Average Life 11.932 Years Average Coupon 5.0000000% Net Interest Cost (NIC)3.7770197% True Interest Cost (TIC)3.4402820% Bond Yield for Arbitrage Purposes 2.9355286% All Inclusive Cost (AIC)3.4798877% IRS Form 8038 Net Interest Cost 3.2517949% Weighted Average Maturity 11.992 Years 2022BC STR $66.653MM New | Series B - Tax-Exempt | 8/10/2022 | 12:04 PM Stifel Prepared by Stifel, Nicolaus & Company, Inc. (EJR)Page 4 Preliminary; subject to change. SALT LAKE CITY, UTAH $37,270,000 SALES AND EXCISE TAX REVENUE BONDS SERIES 2022B (December 14, 2022 ) ($42.553MM New Money, 20-Years Level) Net Debt Service Schedule Date Principal Coupon Interest Total P+I Net New D/S 06/30/2023 --553,873.61 553,873.61 553,873.61 06/30/2024 1,110,000.00 5.000%1,835,750.00 2,945,750.00 2,945,750.00 06/30/2025 1,170,000.00 5.000%1,778,750.00 2,948,750.00 2,948,750.00 06/30/2026 1,230,000.00 5.000%1,718,750.00 2,948,750.00 2,948,750.00 06/30/2027 1,290,000.00 5.000%1,655,750.00 2,945,750.00 2,945,750.00 06/30/2028 1,360,000.00 5.000%1,589,500.00 2,949,500.00 2,949,500.00 06/30/2029 1,430,000.00 5.000%1,519,750.00 2,949,750.00 2,949,750.00 06/30/2030 1,500,000.00 5.000%1,446,500.00 2,946,500.00 2,946,500.00 06/30/2031 1,580,000.00 5.000%1,369,500.00 2,949,500.00 2,949,500.00 06/30/2032 1,660,000.00 5.000%1,288,500.00 2,948,500.00 2,948,500.00 06/30/2033 1,745,000.00 5.000%1,203,375.00 2,948,375.00 2,948,375.00 06/30/2034 1,835,000.00 5.000%1,113,875.00 2,948,875.00 2,948,875.00 06/30/2035 1,925,000.00 5.000%1,019,875.00 2,944,875.00 2,944,875.00 06/30/2036 2,025,000.00 5.000%921,125.00 2,946,125.00 2,946,125.00 06/30/2037 2,130,000.00 5.000%817,250.00 2,947,250.00 2,947,250.00 06/30/2038 2,240,000.00 5.000%708,000.00 2,948,000.00 2,948,000.00 06/30/2039 2,355,000.00 5.000%593,125.00 2,948,125.00 2,948,125.00 06/30/2040 2,475,000.00 5.000%472,375.00 2,947,375.00 2,947,375.00 06/30/2041 2,600,000.00 5.000%345,500.00 2,945,500.00 2,945,500.00 06/30/2042 2,735,000.00 5.000%212,125.00 2,947,125.00 2,947,125.00 06/30/2043 2,875,000.00 5.000%71,875.00 2,946,875.00 2,946,875.00 Total $37,270,000.00 -$22,235,123.61 $59,505,123.61 $59,505,123.61 2022BC STR $66.653MM New | Series B - Tax-Exempt | 8/10/2022 | 12:04 PM Stifel Prepared by Stifel, Nicolaus & Company, Inc. (EJR)Page 5 Preliminary; subject to change. SALT LAKE CITY, UTAH $37,270,000 SALES AND EXCISE TAX REVENUE BONDS SERIES 2022B (December 14, 2022 ) ($42.553MM New Money, 20-Years Level) Pricing Summary Maturity Type of Bond Coupon Yield Maturity Value Price YTM Call Date Call Price Dollar Price 10/01/2023 Serial Coupon 5.000%1.730%1,110,000.00 102.575% ---1,138,582.50 10/01/2024 Serial Coupon 5.000%1.850%1,170,000.00 105.540% ---1,234,818.00 10/01/2025 Serial Coupon 5.000%1.920%1,230,000.00 108.346% ---1,332,655.80 10/01/2026 Serial Coupon 5.000%2.020%1,290,000.00 110.837% ---1,429,797.30 10/01/2027 Serial Coupon 5.000%2.080%1,360,000.00 113.263% ---1,540,376.80 10/01/2028 Serial Coupon 5.000%2.250%1,430,000.00 114.864% ---1,642,555.20 10/01/2029 Serial Coupon 5.000%2.340%1,500,000.00 116.622% ---1,749,330.00 10/01/2030 Serial Coupon 5.000%2.420%1,580,000.00 118.229% ---1,868,018.20 10/01/2031 Serial Coupon 5.000%2.520%1,660,000.00 119.454% ---1,982,936.40 10/01/2032 Serial Coupon 5.000%2.590%1,745,000.00 120.732% ---2,106,773.40 10/01/2033 Serial Coupon 5.000%2.760%1,835,000.00 119.110%c 2.923%10/01/2032 100.000%2,185,668.50 10/01/2034 Serial Coupon 5.000%2.890%1,925,000.00 117.887%c 3.170%10/01/2032 100.000%2,269,324.75 10/01/2035 Serial Coupon 5.000%3.000%2,025,000.00 116.864%c 3.367%10/01/2032 100.000%2,366,496.00 10/01/2036 Serial Coupon 5.000%3.060%2,130,000.00 116.310%c 3.499%10/01/2032 100.000%2,477,403.00 10/01/2037 Serial Coupon 5.000%3.120%2,240,000.00 115.760%c 3.615%10/01/2032 100.000%2,593,024.00 10/01/2038 Serial Coupon 5.000%3.190%2,355,000.00 115.122%c 3.725%10/01/2032 100.000%2,711,123.10 10/01/2039 Serial Coupon 5.000%3.240%2,475,000.00 114.668%c 3.809%10/01/2032 100.000%2,838,033.00 10/01/2040 Serial Coupon 5.000%3.280%2,600,000.00 114.307%c 3.879%10/01/2032 100.000%2,971,982.00 10/01/2041 Serial Coupon 5.000%3.350%2,735,000.00 113.678%c 3.961%10/01/2032 100.000%3,109,093.30 10/01/2042 Serial Coupon 5.000%3.370%2,875,000.00 113.500%c 4.005%10/01/2032 100.000%3,263,125.00 Total ---$37,270,000.00 -----$42,811,116.25 Bid Information Par Amount of Bonds $37,270,000.00 Reoffering Premium or (Discount)5,541,116.25 Gross Production $42,811,116.25 Total Underwriter's Discount (0.275%)$(102,492.50) Bid (114.592%)42,708,623.75 Total Purchase Price $42,708,623.75 Bond Year Dollars $444,702.47 Average Life 11.932 Years Average Coupon 5.0000000% Net Interest Cost (NIC)3.7770197% True Interest Cost (TIC)3.4402820% 2022BC STR $66.653MM New | Series B - Tax-Exempt | 8/10/2022 | 12:04 PM Stifel Prepared by Stifel, Nicolaus & Company, Inc. (EJR)Page 6 Preliminary; subject to change. SALT LAKE CITY, UTAH $24,265,000 TAXABLE SALES AND EXCISE TAX REVENUE BONDS SERIES 2022C (December 14, 2022 ) ($24.1MM New Money, 20-Years Level) Debt Service Schedule Date Principal Coupon Interest Total P+I Fiscal Total 12/14/2022 ----- 04/01/2023 --295,154.89 295,154.89 - 06/30/2023 ----295,154.89 10/01/2023 825,000.00 3.430%496,522.25 1,321,522.25 - 04/01/2024 --482,373.50 482,373.50 - 06/30/2024 ----1,803,895.75 10/01/2024 855,000.00 3.530%482,373.50 1,337,373.50 - 04/01/2025 --467,282.75 467,282.75 - 06/30/2025 ----1,804,656.25 10/01/2025 885,000.00 3.550%467,282.75 1,352,282.75 - 04/01/2026 --451,574.00 451,574.00 - 06/30/2026 ----1,803,856.75 10/01/2026 920,000.00 3.420%451,574.00 1,371,574.00 - 04/01/2027 --435,842.00 435,842.00 - 06/30/2027 ----1,807,416.00 10/01/2027 950,000.00 3.520%435,842.00 1,385,842.00 - 04/01/2028 --419,122.00 419,122.00 - 06/30/2028 ----1,804,964.00 10/01/2028 985,000.00 3.540%419,122.00 1,404,122.00 - 04/01/2029 --401,687.50 401,687.50 - 06/30/2029 ----1,805,809.50 10/01/2029 1,020,000.00 3.590%401,687.50 1,421,687.50 - 04/01/2030 --383,378.50 383,378.50 - 06/30/2030 ----1,805,066.00 10/01/2030 1,060,000.00 3.650%383,378.50 1,443,378.50 - 04/01/2031 --364,033.50 364,033.50 - 06/30/2031 ----1,807,412.00 10/01/2031 1,095,000.00 3.700%364,033.50 1,459,033.50 - 04/01/2032 --343,776.00 343,776.00 - 06/30/2032 ----1,802,809.50 10/01/2032 1,140,000.00 3.900%343,776.00 1,483,776.00 - 04/01/2033 --321,546.00 321,546.00 - 06/30/2033 ----1,805,322.00 10/01/2033 1,185,000.00 4.050%321,546.00 1,506,546.00 - 04/01/2034 --297,549.75 297,549.75 - 06/30/2034 ----1,804,095.75 10/01/2034 1,235,000.00 4.150%297,549.75 1,532,549.75 - 04/01/2035 --271,923.50 271,923.50 - 06/30/2035 ----1,804,473.25 10/01/2035 1,290,000.00 4.250%271,923.50 1,561,923.50 - 04/01/2036 --244,511.00 244,511.00 - 06/30/2036 ----1,806,434.50 10/01/2036 1,345,000.00 4.350%244,511.00 1,589,511.00 - 04/01/2037 --215,257.25 215,257.25 - 06/30/2037 ----1,804,768.25 10/01/2037 1,405,000.00 4.450%215,257.25 1,620,257.25 - 04/01/2038 --183,996.00 183,996.00 - 06/30/2038 ----1,804,253.25 10/01/2038 1,470,000.00 4.560%183,996.00 1,653,996.00 - 04/01/2039 --150,480.00 150,480.00 - 06/30/2039 ----1,804,476.00 10/01/2039 1,540,000.00 4.560%150,480.00 1,690,480.00 - 04/01/2040 --115,368.00 115,368.00 - 06/30/2040 ----1,805,848.00 10/01/2040 1,610,000.00 4.560%115,368.00 1,725,368.00 - 04/01/2041 --78,660.00 78,660.00 - 06/30/2041 ----1,804,028.00 10/01/2041 1,685,000.00 4.560%78,660.00 1,763,660.00 - 04/01/2042 --40,242.00 40,242.00 - 06/30/2042 ----1,803,902.00 10/01/2042 1,765,000.00 4.560%40,242.00 1,805,242.00 - 06/30/2043 ----1,805,242.00 Total $24,265,000.00 -$12,128,883.64 $36,393,883.64 - Yield Statistics Bond Year Dollars $282,009.60 Average Life 11.622 Years Average Coupon 4.3008762% Net Interest Cost (NIC)4.3245381% True Interest Cost (TIC)4.3024903% Bond Yield for Arbitrage Purposes 4.2708650% All Inclusive Cost (AIC)4.3492010% IRS Form 8038 Net Interest Cost 4.3008762% Weighted Average Maturity 11.622 Years 2022BC STR $66.653MM New | Series C - Taxable | 8/10/2022 | 12:04 PM Stifel Prepared by Stifel, Nicolaus & Company, Inc. (EJR)Page 7 Preliminary; subject to change. SALT LAKE CITY, UTAH $24,265,000 TAXABLE SALES AND EXCISE TAX REVENUE BONDS SERIES 2022C (December 14, 2022 ) ($24.1MM New Money, 20-Years Level) Net Debt Service Schedule Date Principal Coupon Interest Total P+I Net New D/S 06/30/2023 --295,154.89 295,154.89 295,154.89 06/30/2024 825,000.00 3.430%978,895.75 1,803,895.75 1,803,895.75 06/30/2025 855,000.00 3.530%949,656.25 1,804,656.25 1,804,656.25 06/30/2026 885,000.00 3.550%918,856.75 1,803,856.75 1,803,856.75 06/30/2027 920,000.00 3.420%887,416.00 1,807,416.00 1,807,416.00 06/30/2028 950,000.00 3.520%854,964.00 1,804,964.00 1,804,964.00 06/30/2029 985,000.00 3.540%820,809.50 1,805,809.50 1,805,809.50 06/30/2030 1,020,000.00 3.590%785,066.00 1,805,066.00 1,805,066.00 06/30/2031 1,060,000.00 3.650%747,412.00 1,807,412.00 1,807,412.00 06/30/2032 1,095,000.00 3.700%707,809.50 1,802,809.50 1,802,809.50 06/30/2033 1,140,000.00 3.900%665,322.00 1,805,322.00 1,805,322.00 06/30/2034 1,185,000.00 4.050%619,095.75 1,804,095.75 1,804,095.75 06/30/2035 1,235,000.00 4.150%569,473.25 1,804,473.25 1,804,473.25 06/30/2036 1,290,000.00 4.250%516,434.50 1,806,434.50 1,806,434.50 06/30/2037 1,345,000.00 4.350%459,768.25 1,804,768.25 1,804,768.25 06/30/2038 1,405,000.00 4.450%399,253.25 1,804,253.25 1,804,253.25 06/30/2039 1,470,000.00 4.560%334,476.00 1,804,476.00 1,804,476.00 06/30/2040 1,540,000.00 4.560%265,848.00 1,805,848.00 1,805,848.00 06/30/2041 1,610,000.00 4.560%194,028.00 1,804,028.00 1,804,028.00 06/30/2042 1,685,000.00 4.560%118,902.00 1,803,902.00 1,803,902.00 06/30/2043 1,765,000.00 4.560%40,242.00 1,805,242.00 1,805,242.00 Total $24,265,000.00 -$12,128,883.64 $36,393,883.64 $36,393,883.64 2022BC STR $66.653MM New | Series C - Taxable | 8/10/2022 | 12:04 PM Stifel Prepared by Stifel, Nicolaus & Company, Inc. (EJR)Page 8 Preliminary; subject to change. SALT LAKE CITY, UTAH $24,265,000 TAXABLE SALES AND EXCISE TAX REVENUE BONDS SERIES 2022C (December 14, 2022 ) ($24.1MM New Money, 20-Years Level) Pricing Summary Maturity Type of Bond Coupon Yield Maturity Value Price Dollar Price 10/01/2023 Serial Coupon 3.430%3.430%825,000.00 100.000%825,000.00 10/01/2024 Serial Coupon 3.530%3.530%855,000.00 100.000%855,000.00 10/01/2025 Serial Coupon 3.550%3.550%885,000.00 100.000%885,000.00 10/01/2026 Serial Coupon 3.420%3.420%920,000.00 100.000%920,000.00 10/01/2027 Serial Coupon 3.520%3.520%950,000.00 100.000%950,000.00 10/01/2028 Serial Coupon 3.540%3.540%985,000.00 100.000%985,000.00 10/01/2029 Serial Coupon 3.590%3.590%1,020,000.00 100.000%1,020,000.00 10/01/2030 Serial Coupon 3.650%3.650%1,060,000.00 100.000%1,060,000.00 10/01/2031 Serial Coupon 3.700%3.700%1,095,000.00 100.000%1,095,000.00 10/01/2032 Serial Coupon 3.900%3.900%1,140,000.00 100.000%1,140,000.00 10/01/2033 Serial Coupon 4.050%4.050%1,185,000.00 100.000%1,185,000.00 10/01/2034 Serial Coupon 4.150%4.150%1,235,000.00 100.000%1,235,000.00 10/01/2035 Serial Coupon 4.250%4.250%1,290,000.00 100.000%1,290,000.00 10/01/2036 Serial Coupon 4.350%4.350%1,345,000.00 100.000%1,345,000.00 10/01/2037 Serial Coupon 4.450%4.450%1,405,000.00 100.000%1,405,000.00 10/01/2042 Term 1 Coupon 4.560%4.560%8,070,000.00 100.000%8,070,000.00 Total ---$24,265,000.00 -$24,265,000.00 Bid Information Par Amount of Bonds $24,265,000.00 Gross Production $24,265,000.00 Total Underwriter's Discount (0.275%)$(66,728.75) Bid (99.725%)24,198,271.25 Total Purchase Price $24,198,271.25 Bond Year Dollars $282,009.60 Average Life 11.622 Years Average Coupon 4.3008762% Net Interest Cost (NIC)4.3245381% True Interest Cost (TIC)4.3024903% 2022BC STR $66.653MM New | Series C - Taxable | 8/10/2022 | 12:04 PM Stifel Prepared by Stifel, Nicolaus & Company, Inc. (EJR)Page 9 Scenario 2 Preliminary; subject to change. SALT LAKE CITY, UTAH $61,345,000 SALES AND EXCISE TAX REVENUE BONDS SERIES 2022 B&C (December 14, 2022 ) ($66.653MM New Money, 20-Years Level) Table of Contents Report ISSUE SUMMARY Total Issue Sources And Uses 1 Debt Service Schedule 2 Net Debt Service Schedule 3 SERIES B - TAX-EXEMPT Debt Service Schedule 4 Net Debt Service Schedule 5 Pricing Summary 6 SERIES C - TAXABLE Debt Service Schedule 7 Net Debt Service Schedule 8 Pricing Summary 9 2022BC STR $66.653MM New | Issue Summary | 8/10/2022 | 12:06 PM Stifel Prepared by Stifel, Nicolaus & Company, Inc. (EJR) Preliminary; subject to change. SALT LAKE CITY, UTAH $61,345,000 SALES AND EXCISE TAX REVENUE BONDS SERIES 2022 B&C (December 14, 2022 ) ($66.653MM New Money, 20-Years Level) Total Issue Sources And Uses Dated 12/14/2022 | Delivered 12/14/2022 Series B - Tax- Exempt Series C - Taxable Issue Summary Sources Of Funds Par Amount of Bonds $37,075,000.00 $24,270,000.00 $61,345,000.00 Reoffering Premium 5,731,713.65 -5,731,713.65 Total Sources $42,806,713.65 $24,270,000.00 $67,076,713.65 Uses Of Funds Deposit to Project Construction Fund 42,553,000.00 24,100,000.00 66,653,000.00 Costs of Issuance 151,092.18 98,907.82 250,000.00 Total Underwriter's Discount (0.275%)101,956.25 66,742.50 168,698.75 Rounding Amount 665.22 4,349.68 5,014.90 Total Uses $42,806,713.65 $24,270,000.00 $67,076,713.65 2022BC STR $66.653MM New | Issue Summary | 8/10/2022 | 12:06 PM Stifel Prepared by Stifel, Nicolaus & Company, Inc. (EJR)Page 1 Preliminary; subject to change. SALT LAKE CITY, UTAH $61,345,000 SALES AND EXCISE TAX REVENUE BONDS SERIES 2022 B&C (December 14, 2022 ) ($66.653MM New Money, 20-Years Level) Debt Service Schedule Date Principal Coupon Interest Total P+I Fiscal Total 12/14/2022 ----- 04/01/2023 --810,547.58 810,547.58 - 06/30/2023 ----810,547.58 10/01/2023 2,045,000.00 3.430%1,363,538.00 3,408,538.00 - 04/01/2024 --1,328,466.25 1,328,466.25 - 06/30/2024 ----4,737,004.25 10/01/2024 2,115,000.00 3.530%1,328,466.25 3,443,466.25 - 04/01/2025 --1,291,136.50 1,291,136.50 - 06/30/2025 ----4,734,602.75 10/01/2025 2,190,000.00 3.550%1,291,136.50 3,481,136.50 - 04/01/2026 --1,252,264.00 1,252,264.00 - 06/30/2026 ----4,733,400.50 10/01/2026 2,270,000.00 3.420%1,252,264.00 3,522,264.00 - 04/01/2027 --1,213,447.00 1,213,447.00 - 06/30/2027 ----4,735,711.00 10/01/2027 2,350,000.00 3.520%1,213,447.00 3,563,447.00 - 04/01/2028 --1,172,087.00 1,172,087.00 - 06/30/2028 ----4,735,534.00 10/01/2028 2,435,000.00 3.540%1,172,087.00 3,607,087.00 - 04/01/2029 --1,128,987.50 1,128,987.50 - 06/30/2029 ----4,736,074.50 10/01/2029 2,525,000.00 3.590%1,128,987.50 3,653,987.50 - 04/01/2030 --1,083,663.75 1,083,663.75 - 06/30/2030 ----4,737,651.25 10/01/2030 2,615,000.00 3.650%1,083,663.75 3,698,663.75 - 04/01/2031 --1,035,940.00 1,035,940.00 - 06/30/2031 ----4,734,603.75 10/01/2031 2,715,000.00 3.700%1,035,940.00 3,750,940.00 - 04/01/2032 --985,712.50 985,712.50 - 06/30/2032 ----4,736,652.50 10/01/2032 2,820,000.00 3.900%985,712.50 3,805,712.50 - 04/01/2033 --930,722.50 930,722.50 - 06/30/2033 ----4,736,435.00 10/01/2033 2,945,000.00 4.939%930,722.50 3,875,722.50 - 04/01/2034 --858,000.00 858,000.00 - 06/30/2034 ----4,733,722.50 10/01/2034 3,095,000.00 5.000%858,000.00 3,953,000.00 - 04/01/2035 --780,625.00 780,625.00 - 06/30/2035 ----4,733,625.00 10/01/2035 3,255,000.00 5.000%780,625.00 4,035,625.00 - 04/01/2036 --699,250.00 699,250.00 - 06/30/2036 ----4,734,875.00 10/01/2036 3,420,000.00 5.000%699,250.00 4,119,250.00 - 04/01/2037 --613,750.00 613,750.00 - 06/30/2037 ----4,733,000.00 10/01/2037 3,600,000.00 5.000%613,750.00 4,213,750.00 - 04/01/2038 --523,750.00 523,750.00 - 06/30/2038 ----4,737,500.00 10/01/2038 3,780,000.00 5.000%523,750.00 4,303,750.00 - 04/01/2039 --429,250.00 429,250.00 - 06/30/2039 ----4,733,000.00 10/01/2039 3,975,000.00 5.000%429,250.00 4,404,250.00 - 04/01/2040 --329,875.00 329,875.00 - 06/30/2040 ----4,734,125.00 10/01/2040 4,180,000.00 5.000%329,875.00 4,509,875.00 - 04/01/2041 --225,375.00 225,375.00 - 06/30/2041 ----4,735,250.00 10/01/2041 4,395,000.00 5.000%225,375.00 4,620,375.00 - 04/01/2042 --115,500.00 115,500.00 - 06/30/2042 ----4,735,875.00 10/01/2042 4,620,000.00 5.000%115,500.00 4,735,500.00 - 06/30/2043 ----4,735,500.00 Total $61,345,000.00 -$34,169,689.58 $95,514,689.58 - Yield Statistics Bond Year Dollars $720,005.60 Average Life 11.737 Years Average Coupon 4.7457533% Net Interest Cost (NIC)3.9731184% True Interest Cost (TIC)3.7094113% Bond Yield for Arbitrage Purposes 3.2871155% All Inclusive Cost (AIC)3.7514427% IRS Form 8038 Net Interest Cost 3.5175856% Weighted Average Maturity 12.053 Years 2022BC STR $66.653MM New | Issue Summary | 8/10/2022 | 12:06 PM Stifel Prepared by Stifel, Nicolaus & Company, Inc. (EJR)Page 2 Preliminary; subject to change. SALT LAKE CITY, UTAH $61,345,000 SALES AND EXCISE TAX REVENUE BONDS SERIES 2022 B&C (December 14, 2022 ) ($66.653MM New Money, 20-Years Level) Net Debt Service Schedule Date Principal Coupon Interest Total P+I Net New D/S 06/30/2023 --810,547.58 810,547.58 810,547.58 06/30/2024 2,045,000.00 3.430%2,692,004.25 4,737,004.25 4,737,004.25 06/30/2025 2,115,000.00 3.530%2,619,602.75 4,734,602.75 4,734,602.75 06/30/2026 2,190,000.00 3.550%2,543,400.50 4,733,400.50 4,733,400.50 06/30/2027 2,270,000.00 3.420%2,465,711.00 4,735,711.00 4,735,711.00 06/30/2028 2,350,000.00 3.520%2,385,534.00 4,735,534.00 4,735,534.00 06/30/2029 2,435,000.00 3.540%2,301,074.50 4,736,074.50 4,736,074.50 06/30/2030 2,525,000.00 3.590%2,212,651.25 4,737,651.25 4,737,651.25 06/30/2031 2,615,000.00 3.650%2,119,603.75 4,734,603.75 4,734,603.75 06/30/2032 2,715,000.00 3.700%2,021,652.50 4,736,652.50 4,736,652.50 06/30/2033 2,820,000.00 3.900%1,916,435.00 4,736,435.00 4,736,435.00 06/30/2034 2,945,000.00 4.939%1,788,722.50 4,733,722.50 4,733,722.50 06/30/2035 3,095,000.00 5.000%1,638,625.00 4,733,625.00 4,733,625.00 06/30/2036 3,255,000.00 5.000%1,479,875.00 4,734,875.00 4,734,875.00 06/30/2037 3,420,000.00 5.000%1,313,000.00 4,733,000.00 4,733,000.00 06/30/2038 3,600,000.00 5.000%1,137,500.00 4,737,500.00 4,737,500.00 06/30/2039 3,780,000.00 5.000%953,000.00 4,733,000.00 4,733,000.00 06/30/2040 3,975,000.00 5.000%759,125.00 4,734,125.00 4,734,125.00 06/30/2041 4,180,000.00 5.000%555,250.00 4,735,250.00 4,735,250.00 06/30/2042 4,395,000.00 5.000%340,875.00 4,735,875.00 4,735,875.00 06/30/2043 4,620,000.00 5.000%115,500.00 4,735,500.00 4,735,500.00 Total $61,345,000.00 -$34,169,689.58 $95,514,689.58 $95,514,689.58 2022BC STR $66.653MM New | Issue Summary | 8/10/2022 | 12:06 PM Stifel Prepared by Stifel, Nicolaus & Company, Inc. (EJR)Page 3 Preliminary; subject to change. SALT LAKE CITY, UTAH $37,075,000 SALES AND EXCISE TAX REVENUE BONDS SERIES 2022B (December 14, 2022 ) ($42.553MM New Money, 20-Years Level) Debt Service Schedule Date Principal Coupon Interest Total P+I Fiscal Total 12/14/2022 ----- 04/01/2023 --550,975.69 550,975.69 - 06/30/2023 ----550,975.69 10/01/2023 --926,875.00 926,875.00 - 04/01/2024 --926,875.00 926,875.00 - 06/30/2024 ----1,853,750.00 10/01/2024 --926,875.00 926,875.00 - 04/01/2025 --926,875.00 926,875.00 - 06/30/2025 ----1,853,750.00 10/01/2025 --926,875.00 926,875.00 - 04/01/2026 --926,875.00 926,875.00 - 06/30/2026 ----1,853,750.00 10/01/2026 --926,875.00 926,875.00 - 04/01/2027 --926,875.00 926,875.00 - 06/30/2027 ----1,853,750.00 10/01/2027 --926,875.00 926,875.00 - 04/01/2028 --926,875.00 926,875.00 - 06/30/2028 ----1,853,750.00 10/01/2028 --926,875.00 926,875.00 - 04/01/2029 --926,875.00 926,875.00 - 06/30/2029 ----1,853,750.00 10/01/2029 --926,875.00 926,875.00 - 04/01/2030 --926,875.00 926,875.00 - 06/30/2030 ----1,853,750.00 10/01/2030 --926,875.00 926,875.00 - 04/01/2031 --926,875.00 926,875.00 - 06/30/2031 ----1,853,750.00 10/01/2031 --926,875.00 926,875.00 - 04/01/2032 --926,875.00 926,875.00 - 06/30/2032 ----1,853,750.00 10/01/2032 --926,875.00 926,875.00 - 04/01/2033 --926,875.00 926,875.00 - 06/30/2033 ----1,853,750.00 10/01/2033 2,755,000.00 5.000%926,875.00 3,681,875.00 - 04/01/2034 --858,000.00 858,000.00 - 06/30/2034 ----4,539,875.00 10/01/2034 3,095,000.00 5.000%858,000.00 3,953,000.00 - 04/01/2035 --780,625.00 780,625.00 - 06/30/2035 ----4,733,625.00 10/01/2035 3,255,000.00 5.000%780,625.00 4,035,625.00 - 04/01/2036 --699,250.00 699,250.00 - 06/30/2036 ----4,734,875.00 10/01/2036 3,420,000.00 5.000%699,250.00 4,119,250.00 - 04/01/2037 --613,750.00 613,750.00 - 06/30/2037 ----4,733,000.00 10/01/2037 3,600,000.00 5.000%613,750.00 4,213,750.00 - 04/01/2038 --523,750.00 523,750.00 - 06/30/2038 ----4,737,500.00 10/01/2038 3,780,000.00 5.000%523,750.00 4,303,750.00 - 04/01/2039 --429,250.00 429,250.00 - 06/30/2039 ----4,733,000.00 10/01/2039 3,975,000.00 5.000%429,250.00 4,404,250.00 - 04/01/2040 --329,875.00 329,875.00 - 06/30/2040 ----4,734,125.00 10/01/2040 4,180,000.00 5.000%329,875.00 4,509,875.00 - 04/01/2041 --225,375.00 225,375.00 - 06/30/2041 ----4,735,250.00 10/01/2041 4,395,000.00 5.000%225,375.00 4,620,375.00 - 04/01/2042 --115,500.00 115,500.00 - 06/30/2042 ----4,735,875.00 10/01/2042 4,620,000.00 5.000%115,500.00 4,735,500.00 - 06/30/2043 ----4,735,500.00 Total $37,075,000.00 -$29,166,100.69 $66,241,100.69 - Yield Statistics Bond Year Dollars $583,322.01 Average Life 15.734 Years Average Coupon 5.0000000% Net Interest Cost (NIC)4.0348800% True Interest Cost (TIC)3.7087976% Bond Yield for Arbitrage Purposes 3.1539387% All Inclusive Cost (AIC)3.7405309% IRS Form 8038 Net Interest Cost 3.4884644% Weighted Average Maturity 15.693 Years 2022BC STR $66.653MM New | Series B - Tax-Exempt | 8/10/2022 | 12:06 PM Stifel Prepared by Stifel, Nicolaus & Company, Inc. (EJR)Page 4 Preliminary; subject to change. SALT LAKE CITY, UTAH $37,075,000 SALES AND EXCISE TAX REVENUE BONDS SERIES 2022B (December 14, 2022 ) ($42.553MM New Money, 20-Years Level) Net Debt Service Schedule Date Principal Coupon Interest Total P+I Net New D/S 06/30/2023 --550,975.69 550,975.69 550,975.69 06/30/2024 --1,853,750.00 1,853,750.00 1,853,750.00 06/30/2025 --1,853,750.00 1,853,750.00 1,853,750.00 06/30/2026 --1,853,750.00 1,853,750.00 1,853,750.00 06/30/2027 --1,853,750.00 1,853,750.00 1,853,750.00 06/30/2028 --1,853,750.00 1,853,750.00 1,853,750.00 06/30/2029 --1,853,750.00 1,853,750.00 1,853,750.00 06/30/2030 --1,853,750.00 1,853,750.00 1,853,750.00 06/30/2031 --1,853,750.00 1,853,750.00 1,853,750.00 06/30/2032 --1,853,750.00 1,853,750.00 1,853,750.00 06/30/2033 --1,853,750.00 1,853,750.00 1,853,750.00 06/30/2034 2,755,000.00 5.000%1,784,875.00 4,539,875.00 4,539,875.00 06/30/2035 3,095,000.00 5.000%1,638,625.00 4,733,625.00 4,733,625.00 06/30/2036 3,255,000.00 5.000%1,479,875.00 4,734,875.00 4,734,875.00 06/30/2037 3,420,000.00 5.000%1,313,000.00 4,733,000.00 4,733,000.00 06/30/2038 3,600,000.00 5.000%1,137,500.00 4,737,500.00 4,737,500.00 06/30/2039 3,780,000.00 5.000%953,000.00 4,733,000.00 4,733,000.00 06/30/2040 3,975,000.00 5.000%759,125.00 4,734,125.00 4,734,125.00 06/30/2041 4,180,000.00 5.000%555,250.00 4,735,250.00 4,735,250.00 06/30/2042 4,395,000.00 5.000%340,875.00 4,735,875.00 4,735,875.00 06/30/2043 4,620,000.00 5.000%115,500.00 4,735,500.00 4,735,500.00 Total $37,075,000.00 -$29,166,100.69 $66,241,100.69 $66,241,100.69 2022BC STR $66.653MM New | Series B - Tax-Exempt | 8/10/2022 | 12:06 PM Stifel Prepared by Stifel, Nicolaus & Company, Inc. (EJR)Page 5 Preliminary; subject to change. SALT LAKE CITY, UTAH $37,075,000 SALES AND EXCISE TAX REVENUE BONDS SERIES 2022B (December 14, 2022 ) ($42.553MM New Money, 20-Years Level) Pricing Summary Maturity Type of Bond Coupon Yield Maturity Value Price YTM Call Date Call Price Dollar Price 10/01/2033 Serial Coupon 5.000%2.760%2,755,000.00 119.110%c 2.923%10/01/2032 100.000%3,281,480.50 10/01/2034 Serial Coupon 5.000%2.890%3,095,000.00 117.887%c 3.170%10/01/2032 100.000%3,648,602.65 10/01/2035 Serial Coupon 5.000%3.000%3,255,000.00 116.864%c 3.367%10/01/2032 100.000%3,803,923.20 10/01/2036 Serial Coupon 5.000%3.060%3,420,000.00 116.310%c 3.499%10/01/2032 100.000%3,977,802.00 10/01/2037 Serial Coupon 5.000%3.120%3,600,000.00 115.760%c 3.615%10/01/2032 100.000%4,167,360.00 10/01/2038 Serial Coupon 5.000%3.190%3,780,000.00 115.122%c 3.725%10/01/2032 100.000%4,351,611.60 10/01/2039 Serial Coupon 5.000%3.240%3,975,000.00 114.668%c 3.809%10/01/2032 100.000%4,558,053.00 10/01/2040 Serial Coupon 5.000%3.280%4,180,000.00 114.307%c 3.879%10/01/2032 100.000%4,778,032.60 10/01/2041 Serial Coupon 5.000%3.350%4,395,000.00 113.678%c 3.961%10/01/2032 100.000%4,996,148.10 10/01/2042 Serial Coupon 5.000%3.370%4,620,000.00 113.500%c 4.005%10/01/2032 100.000%5,243,700.00 Total ---$37,075,000.00 -----$42,806,713.65 Bid Information Par Amount of Bonds $37,075,000.00 Reoffering Premium or (Discount)5,731,713.65 Gross Production $42,806,713.65 Total Underwriter's Discount (0.275%)$(101,956.25) Bid (115.185%)42,704,757.40 Total Purchase Price $42,704,757.40 Bond Year Dollars $583,322.01 Average Life 15.734 Years Average Coupon 5.0000000% Net Interest Cost (NIC)4.0348800% True Interest Cost (TIC)3.7087976% 2022BC STR $66.653MM New | Series B - Tax-Exempt | 8/10/2022 | 12:06 PM Stifel Prepared by Stifel, Nicolaus & Company, Inc. (EJR)Page 6 Preliminary; subject to change. SALT LAKE CITY, UTAH $24,270,000 TAXABLE SALES AND EXCISE TAX REVENUE BONDS SERIES 2022C (December 14, 2022 ) ($24.1MM New Money, 20-Years Level) Debt Service Schedule Date Principal Coupon Interest Total P+I Fiscal Total 12/14/2022 ----- 04/01/2023 --259,571.89 259,571.89 - 06/30/2023 ----259,571.89 10/01/2023 2,045,000.00 3.430%436,663.00 2,481,663.00 - 04/01/2024 --401,591.25 401,591.25 - 06/30/2024 ----2,883,254.25 10/01/2024 2,115,000.00 3.530%401,591.25 2,516,591.25 - 04/01/2025 --364,261.50 364,261.50 - 06/30/2025 ----2,880,852.75 10/01/2025 2,190,000.00 3.550%364,261.50 2,554,261.50 - 04/01/2026 --325,389.00 325,389.00 - 06/30/2026 ----2,879,650.50 10/01/2026 2,270,000.00 3.420%325,389.00 2,595,389.00 - 04/01/2027 --286,572.00 286,572.00 - 06/30/2027 ----2,881,961.00 10/01/2027 2,350,000.00 3.520%286,572.00 2,636,572.00 - 04/01/2028 --245,212.00 245,212.00 - 06/30/2028 ----2,881,784.00 10/01/2028 2,435,000.00 3.540%245,212.00 2,680,212.00 - 04/01/2029 --202,112.50 202,112.50 - 06/30/2029 ----2,882,324.50 10/01/2029 2,525,000.00 3.590%202,112.50 2,727,112.50 - 04/01/2030 --156,788.75 156,788.75 - 06/30/2030 ----2,883,901.25 10/01/2030 2,615,000.00 3.650%156,788.75 2,771,788.75 - 04/01/2031 --109,065.00 109,065.00 - 06/30/2031 ----2,880,853.75 10/01/2031 2,715,000.00 3.700%109,065.00 2,824,065.00 - 04/01/2032 --58,837.50 58,837.50 - 06/30/2032 ----2,882,902.50 10/01/2032 2,820,000.00 3.900%58,837.50 2,878,837.50 - 04/01/2033 --3,847.50 3,847.50 - 06/30/2033 ----2,882,685.00 10/01/2033 190,000.00 4.050%3,847.50 193,847.50 - 06/30/2034 ----193,847.50 Total $24,270,000.00 -$5,003,588.89 $29,273,588.89 - Yield Statistics Bond Year Dollars $136,683.58 Average Life 5.632 Years Average Coupon 3.6607095% Net Interest Cost (NIC)3.7095394% True Interest Cost (TIC)3.7118674% Bond Yield for Arbitrage Purposes 3.6559911% All Inclusive Cost (AIC)3.7950795% IRS Form 8038 Net Interest Cost 3.6607095% Weighted Average Maturity 5.632 Years 2022BC STR $66.653MM New | Series C - Taxable | 8/10/2022 | 12:06 PM Stifel Prepared by Stifel, Nicolaus & Company, Inc. (EJR)Page 7 Preliminary; subject to change. SALT LAKE CITY, UTAH $24,270,000 TAXABLE SALES AND EXCISE TAX REVENUE BONDS SERIES 2022C (December 14, 2022 ) ($24.1MM New Money, 20-Years Level) Net Debt Service Schedule Date Principal Coupon Interest Total P+I Net New D/S 06/30/2023 --259,571.89 259,571.89 259,571.89 06/30/2024 2,045,000.00 3.430%838,254.25 2,883,254.25 2,883,254.25 06/30/2025 2,115,000.00 3.530%765,852.75 2,880,852.75 2,880,852.75 06/30/2026 2,190,000.00 3.550%689,650.50 2,879,650.50 2,879,650.50 06/30/2027 2,270,000.00 3.420%611,961.00 2,881,961.00 2,881,961.00 06/30/2028 2,350,000.00 3.520%531,784.00 2,881,784.00 2,881,784.00 06/30/2029 2,435,000.00 3.540%447,324.50 2,882,324.50 2,882,324.50 06/30/2030 2,525,000.00 3.590%358,901.25 2,883,901.25 2,883,901.25 06/30/2031 2,615,000.00 3.650%265,853.75 2,880,853.75 2,880,853.75 06/30/2032 2,715,000.00 3.700%167,902.50 2,882,902.50 2,882,902.50 06/30/2033 2,820,000.00 3.900%62,685.00 2,882,685.00 2,882,685.00 06/30/2034 190,000.00 4.050%3,847.50 193,847.50 193,847.50 Total $24,270,000.00 -$5,003,588.89 $29,273,588.89 $29,273,588.89 2022BC STR $66.653MM New | Series C - Taxable | 8/10/2022 | 12:06 PM Stifel Prepared by Stifel, Nicolaus & Company, Inc. (EJR)Page 8 Preliminary; subject to change. SALT LAKE CITY, UTAH $24,270,000 TAXABLE SALES AND EXCISE TAX REVENUE BONDS SERIES 2022C (December 14, 2022 ) ($24.1MM New Money, 20-Years Level) Pricing Summary Maturity Type of Bond Coupon Yield Maturity Value Price Dollar Price 10/01/2023 Serial Coupon 3.430%3.430%2,045,000.00 100.000%2,045,000.00 10/01/2024 Serial Coupon 3.530%3.530%2,115,000.00 100.000%2,115,000.00 10/01/2025 Serial Coupon 3.550%3.550%2,190,000.00 100.000%2,190,000.00 10/01/2026 Serial Coupon 3.420%3.420%2,270,000.00 100.000%2,270,000.00 10/01/2027 Serial Coupon 3.520%3.520%2,350,000.00 100.000%2,350,000.00 10/01/2028 Serial Coupon 3.540%3.540%2,435,000.00 100.000%2,435,000.00 10/01/2029 Serial Coupon 3.590%3.590%2,525,000.00 100.000%2,525,000.00 10/01/2030 Serial Coupon 3.650%3.650%2,615,000.00 100.000%2,615,000.00 10/01/2031 Serial Coupon 3.700%3.700%2,715,000.00 100.000%2,715,000.00 10/01/2032 Serial Coupon 3.900%3.900%2,820,000.00 100.000%2,820,000.00 10/01/2033 Serial Coupon 4.050%4.050%190,000.00 100.000%190,000.00 Total ---$24,270,000.00 -$24,270,000.00 Bid Information Par Amount of Bonds $24,270,000.00 Gross Production $24,270,000.00 Total Underwriter's Discount (0.275%)$(66,742.50) Bid (99.725%)24,203,257.50 Total Purchase Price $24,203,257.50 Bond Year Dollars $136,683.58 Average Life 5.632 Years Average Coupon 3.6607095% Net Interest Cost (NIC)3.7095394% True Interest Cost (TIC)3.7118674% 2022BC STR $66.653MM New | Series C - Taxable | 8/10/2022 | 12:06 PM Stifel Prepared by Stifel, Nicolaus & Company, Inc. 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