Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Capital Bond topic
No spam. Unsubscribe anytime.
Senate adopts $108.47 million capital bond package for colleges and state facilities
Summary
On a floor vote the Senate approved a $108.47 million general obligation bond package for campus and capital projects, including performing arts centers and preservation work, and sent the amended second-substitute bill back to the House.
The Utah Senate approved a second-substitute general-obligation bond and capital‑facilities authorization totaling $108,470,000 to fund campus projects at state colleges and the University of Utah, plus capital-restoration planning and parking structure work.
Senator Evans, presenting the package, said the projects respond to a multi-year planning process and that current market conditions and interest rates present an opportune time for bonding. Projects listed in the substitute include Dixie State College performing-arts improvements, Snow College performing-arts facilities, Weber State University classroom space for the Davis campus, University of Utah health-science building design and parking structure work, and UVSC Wasatch campus facilities.
Senators asked about the projected interest and operations-and-maintenance (O&M) implications; while detailed figures were not read on the floor, Senator Valentine provided calculations on possible total interest under different amortization scenarios. The Senate passed the second substitute of House Bill 2 (18 aye, 9 no) and returned the bill to the House for concurrence on the amendment.
