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County adopts TEFRA resolution and approves Intermountain Healthcare bond package
Summary
After a public TEFRA hearing, the Utah County Commission adopted the TEFRA resolution and later approved three bond-related agenda items tied to Intermountain Healthcare projects; county staff and bond counsel said Utah County bears no liability as conduit issuer.
The Utah County Commission adopted a Tax Equity and Fiscal Responsibility Act (TEFRA) resolution and approved related bond measures that allow Intermountain Healthcare to access tax-exempt municipal financing for multiple projects.
At a public hearing convened to consider the county acting as conduit issuer, the commission heard an overview from a county financial adviser and legal counsel. The adviser said the county itself would not carry repayment liability for the bonds. "Rest assured, the county is not building its own hospital today," said Dustin Matsumori, director of financial planning for Intermountain Healthcare, who also described the scope of projects and why Intermountain needs the conduit arrangement to access tax-exempt rates. Brad…
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