Wasatch Front Mini-Bonds, Series 2027A

Municipal mini-bonds in $500 denominations. No offering ceiling, no investor caps, freely tradable.

Municipal securities are exempt from Securities Act registration entirely, which means no $75M ceiling and no per-investor cap. Fourteen member cities are financing a 154 MWe participation share under a cost-of-service take-or-pay contract. Retail mini-bonds in $500 denominations are a proven municipal instrument, and this is the rail that scales without arithmetic problems.

Great Salt Lake Generating Station · Provo, UTOperating license issuedEscrow: Not applicable, municipal trustee

TRL 8 of 9, band 7.7 to 8.4, signed by Dr. Helena Vargas-Mbeki, PE, Nuclear; former NRC senior reactor analyst, on Jul 2, 2026.See the evidence it rests on

$12,744,000 committed of $18,000,000

$12,744,000 released · 71% subscribed

Released to the issuerCommitted, held in escrowRemaining

Minimum: $500
Target coupon: 4.55%
Term: 15 yr
Investors: 4,318

Closes January 15, 2027 · 124 days remaining

Eligibility depends on residency, accreditation status and how much you have already invested this year.
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TRL assessment

Technology readiness level, 1 to 9

Confidence band 7.7 – 8.4

An operating license is issued and the unit is in startup testing. The revenue mechanism is a cost-of-service take-or-pay contract with fourteen municipal utilities, which is about as certain as a cash flow gets. The distinction matters for this instrument: bondholders are paid by member cities under contract, not by the plant's performance.

At TRL 8, the ladder permits Fixed-rate note or Municipal mini-bond and releases up to 90% of committed capital. This offering is structured as a municipal mini-bond, which is consistent with that band.

Signed and published

Reviewer: Dr. Helena Vargas-Mbeki
Credential: PE, Nuclear; former NRC senior reactor analyst
Signed: July 2, 2026
Published: July 3, 2026
Methodology: v1.4
Model: ci-trl-2026.06
Generated: Jun 28, 2026

How scoring works

Evidence

Every score cites the documents it was derived from, with the weight each carried. An assessment without evidence is an opinion.

Source	Document	Date	Weight
Operating license	Operating license issued, Unit 1 NRC operating license Authorizes operation at full rated thermal power.	Mar 25, 2026	33%
ITAAC closure	ITAAC closure complete All criteria accepted, NRC final determination Full closure achieved prior to license issuance.	Mar 10, 2026	30%
Supplier contract	Member take-or-pay participation agreements Fourteen municipal utilities, cost-of-service basis Obligations survive plant outage and are not contingent on delivered energy.	Sep 1, 2025	27%
Independent test report	Startup test program, phase two complete Issuer startup test records Power ascension testing in progress at 50% rated power.	Jun 20, 2026	10%

Score history

A score changes on the day a reviewer signs a new assessment, which is why this is a step line rather than a curve.