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Davis County staff recommend Bank of Utah for library bond, citing call flexibility
Summary
County staff reported the lowest true interest cost (AIC) and recommended Bank of Utah for the library bond because it offers immediate call flexibility; commissioners signaled agreement and staff will proceed with public noticing ahead of a June 17 hearing.
Davis County officials reviewed returned bids for the county's library bond and indicated they will proceed with the Bank of Utah offer because it gives the county the most flexibility to refinance without penalty.
County staff presented the bid comparison and said the lowest reported true interest cost (AIC) on one offer was 4.644, but differences in fees and call provisions change the net outcome…
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