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Davis County approves bond parameters to fund South Davis County Library project
Summary
The Davis County Commission approved a parameters resolution allowing up to $6.2 million in bonds for the South Davis County Library, set limits on terms and interest rates, and directed a public hearing before final sale.
The Davis County Commission on May 27 approved a parameters resolution that allows the county to issue bonds of up to $6,200,000 to finance the South Davis County Library project.
The resolution sets a maximum term of 21 years, caps fixed interest rates at 6% and variable-rate structures at 15%, and authorizes a direct-purchase sale process. Curtis Koch, Davis County controller, and Jonathan Ward of SCI Public Finance briefed the commission on the financing method and next steps.
Koch said the parameters give the county…
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