Salt Lake County municipal board adopts bond reimbursement intent resolution

The Salt Lake County Municipal Building Authority voted Tuesday to approve a resolution stating the board—s official intent to reimburse itself for certain expenditures if bonds are later issued.

Darren Casper, the presenter, told the authority the resolution "only states the board's official intent that if bonds are issued, that they will they intend to reimburse themselves. It's a tax code regulation." The resolution was identified in the meeting as MBA 1 27 25.

The measure does not itself authorize the issuance of bonds or any expenditure, Casper said. Board member Stringham moved to approve the bond reimbursement resolution, and board member Bradshaw seconded the motion. The chair called for the vote and members answered "aye"; no member voiced opposition and the chair declared the motion passed.

Before the item, the authority approved minutes from its Dec. 10, 2024, meeting. The meeting also included one public comment from Jerry Schmidt, a Salt Lake City resident, who urged the authority and council to remember veterans and referenced programs for seniors including circuit breaker and property tax relief.

The reimbursement resolution is a procedural action commonly used so a public entity may reimburse itself from future bond proceeds for capital expenditures paid before bond issuance. The authority's adoption signals compliance with applicable tax-code rules but does not obligate the authority to issue bonds or set any financing terms.

With no further committee business on the municipal building authority agenda, the chair adjourned the MBA meeting and the group moved on to the Salt Lake County Council agenda that followed.