Notice of Amendment to Assessment Interest
MIDA MOUNTAIN VILLAGE PUBLIC INFRASTRUCTURE DISTRICT, UTAH MOUNTAIN VILLAGE ASSESSMENT AREA #2
SECOND AMENDMENT TO ASSESSMENT ORDINANCE
Dated as of October 14, 2025
Description of notice:
SECOND AMENDMENT TO ASSESSMENT ORDINANCE
WHEREAS, the Board of Trustees (the ‘Board’) of the MIDA Mountain Village Public Infrastructure District, Utah (the ‘District’), previously adopted Resolution No. 2021-01 on February 26, 2021, pursuant to which the Board authorized and approved a Designation Resolution and Assessment Ordinance (the ‘Original Assessment Ordinance’) for the Mountain Village Assessment Area #2 (the ‘Assessment Area’); and
WHEREAS, the Original Assessment Ordinance was subsequently amended by a First Amendment to Assessment Ordinance dated as of March 10, 2021, and by various Certificates of Amendment to the Assessment List (collectively with the Original Assessment Ordinance, the ‘Assessment Ordinance’); and
WHEREAS, the Owners within the Assessment Area have requested the reallocation of certain Assessments within the Assessment Area; and
WHEREAS, the Owners have provided the Board with documentation to demonstrate compliance with the assessment to value coverage requirements necessary to reallocate Assessments in accordance with the Assessment Ordinance; and
WHEREAS, Section 6 of the Assessment Ordinance permits the reallocation of Assessments within the Assessment Area and the District desires to amend Exhibit A of the Assessment Ordinance to accordingly reallocate Assessments; and
WHEREAS, pursuant to, and in compliance with, the provisions of Section 6 of the Assessment Ordinance, the Board desires to adopt this Second Amendment to Assessment Ordinance to effectuate the amendments described herein:
NOW THEREFORE, BE IT ORDAINED BY THE MIDA MOUNTAIN VILLAGE PUBLIC INFRASTRUCTURE DISTRICT, UTAH:
Section 1. Reallocation of Assessments in Accordance with Assessment Ordinance. In accordance with Section 6 of the Assessment Ordinance, the District has been requested to approve the reallocation of AUs as shown on the attached Exhibit A. The District hereby finds and determines that the number of AUs is not being reduced and that the fair market value of each parcel after the reallocation is greater than three times the sum of (A) the remaining unpaid Assessment on each subdivided parcel, plus (B) any other unpaid assessment liens or property tax liens on each subdivided parcel (such fair market value determined using appraised value by a certified appraiser and presented by the Owner of such parcel). The Owner has represented to the District in the certificate attached hereto as Exhibit B that the requirements in the Assessment Ordinance for the amendments made herein have been met. The District hereby approves of the reallocation of such AUs as shown on Exhibit A, and such Assessment List amends and replaces the assessment list attached as Exhibit A in the Assessment Ordinance.
Section 2. All Necessary Action Approved. The Executive Director and other officials of the District are hereby authorized and directed to take all action necessary and appropriate to effectuate the provisions of this Second Amendment to Assessment Ordinance.
Section 3. Original Assessment Ordinance. Other than as amended by this Second Amendment to Assessment Ordinance, the Original Assessment Ordinance is hereby ratified and confirmed and shall remain in full force and effect without change.
Section 4. Recordation of Second Amendment to Assessment Ordinance. This Second Amendment to Assessment Ordinance shall be signed by the Chair and shall be recorded in the ordinance book kept for that purpose. A copy of this Second Amendment to Assessment Ordinance shall be posted on the Utah Public Notice Website (http://pmn.utah.gov) for at least 21 days. This Second Amendment to Assessment Ordinance shall take effect immediately upon its passage and approval and posting as required by law.
Section 5. Defined Terms. Capitalized terms used herein but not otherwise defined shall have the meanings ascribed to such terms in the Assessment Ordinance.