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Debt review committee urges council to approve reimbursement resolution for Peace Coliseum purchase
Summary
The Salt Lake County Debt Review Committee voted unanimously to recommend that the Salt Lake County Council consider and approve a resolution declaring the county's intent to reimburse itself for project costs tied to acquiring and improving the Peace Coliseum and other capital projects.
The Salt Lake County Debt Review Committee voted unanimously to recommend that the Salt Lake County Council consider and approve a resolution declaring the county’s intent to reimburse itself for project costs associated with acquiring, improving or constructing a government center, the recently acquired Peace Coliseum and other county capital projects.
The recommendation grew out of an IRS requirement explained by Craig (staff member), who told the committee: "It's an IRS regulation that if you have the intent to reimburse yourself from future issuances, you need the legislative body to adopt a…
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