Green Bond Fact Sheet

Park City (Utah)

Date: 30/06/2020

Issue date: 16-06-2020 Maturity date: 15-12-2039 Tenor: 19.5
Issuer namePark City (Utah)

Amount issued

USD76mCountry of risk

USA

CBI Database

Included

Issuer type1

Local Government

Bond type

US MuniGreen bond framework

N/A

Second party opinion

Kestrel VerifiersCertification Standard

Not certified

Assurance report

N/A

Certification verifier

N/AGreen bond rating

N/A☐ Energy☐ Solar☐ Onshore wind
☐ Offshore wind
☐ Geothermal☐ Hydro☐ Tidal☐ Biofuels☐ Bioenergy☐ District heating☐ Electricity grid

☐ Energy storage☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☐ Buildings☐ Certified Buildings☐ HVAC systems☐ Energyperformance☐ Water performance☐ Energy storage/meters☐ Other energy related☐ Industry: components☐ Adaptation & resilience☐ Transport☐ Electric vehicles☐ Low emission
vehicles☐ Bus rapid transit☐ Passenger trains☐ Urban rail

☐ Freight rolling stock☐ Coach / public bus☐ Bicycle infrastructure☐ Energy performance☐ Transport logistics☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☒ Water & wastewater☐ Water distribution☒ Water treatment☐ Wastewatertreatment☐ Water storage☐ Storm water mgmt
☐ Flood protection☐ Desalinisation plants☐ Erosion control☐ Energy performance☒ Infrastructure☐ Industry: components☐ Adaptation & resilience☐ Waste management☐ Recycling☐ Waste prevention☐ Pollution control☐ Landfill, energy capture☐ Energy performance☐ Infrastructure☐ Waste to energy☐ Industry: components☐ Adaptation & resilience

Use of Proceeds☐ Land use & agriculture☐ Afforestation/parks☐ FSC Forestry☐ FSC Cellulose &paper☐ Land remediation☐ Energy/water efficiency☐ Sustainable agriculture☐ Adaptation & resilience☐ Other☐ Adaptation &resilience☐ ICT☐ Industry: process

Issue details
ReportingCompany information

Park City will post continued disclosures to the Municipal Securities Rulemaking Board on anannual basis on the Electronic Municipal Market Access system. Any reports in the event ofmaterial developments will also be provided.
Park City was incorporated in 1884 and is governed by a six–member council consisting of
the mayor and five council members.

Firsts, records andcertifications
Proceeds description

The funds will go towards improvements to the public works facilities for water andrefunding prior bonds issued which were financing capital improvements to the drinking
water system and purchase water rights. This will include new water infrastructure,primarily a new water treatment plant which is designed to align with Park City’s net zeroenergy goals. It is planned to replace an outdated facility.

Climate Bonds view

The issuer has described the outcomes of this project once completed in a suitable mannerof which amongst others are reduced energy use with a zero–net energy facility, improved
environmental water quality and improved drinking water supply reliability. This is thelargest US Muni issuance from the state of Utah so far. We encourage peers to provide asimilar level of transparency on use of proceeds and reporting and obtaining a third-party
review as Park City does.
JPM

Underwriters
Deal comments
Credit rating

AA (S&P)

Pricing summary•••

Yield: 2.300%
Coupon: 2.125%
Price: 97.262%

Investors summary

1Issuer categories: ABS, development bank, financial corporate, government-backed entity, loan, local government, non-financial
corporate, sovereign