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Utah County approves parameters resolution to allow up to $45 million in refunding bonds
Summary
The county commission adopted a parameters resolution authorizing issuance of up to $45 million in refunding bonds as a first statutory step to refinance earlier debt, a move officials say could add to prior savings if market conditions are favorable.
Utah County commissioners on April 28 adopted a parameters resolution that authorizes the county to issue refunding bonds with a maximum par amount of $45,000,000, giving staff flexibility to refinance prior obligations if market conditions allow.
The resolution, described by county staff as the "first statutory step" in refunding a bond issue, sets caps on par amount, maximum interest rate and term, and delegates authority to designated…
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