Utah District to Sell $15.3M for Public Improvements at Mixed-Use Development

By Josh Beckerman

Copper Rim Infrastructure Financing District plans to sell $15.3 million of special assessment bonds, with proceeds slated for public improvements at the Copper Rim development in West Jordan, Utah.

The term bonds will be due in 2054, according to a document posted Monday on MuniOS. Delivery is expected on or about Sept. 3. Bond counsel believes interest isn't a preference item under the alternative minimum tax.

The district was formed in July. The Copper Rim Assessment Area is one component of the 205-acre mixed-use Copper Rim development. The district encompasses about 97 acres, the assessment area totals about 50 acres and is expected to include 204 single-family detached houses and 52 attached single-family attached townhouses.

The assessment area includes the remaining four phases, six through nine, of the overall Copper Rim development.

The public improvements will include sewer and water works, roads and roadways and storm drains. Full build-out of public improvements in the assessment area is anticipated by December 2027.

The bonds are unrated.

D.A. Davidson is the underwriter.

Write to Josh Beckerman at josh.beckerman@wsj.com