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Committee holds bill limiting schools’ use of lease-revenue bonds and P3 financing after wide disagreement
Summary
Representative Auxier’s second substitute to HB 332 would require school districts to prioritize general obligation bonds and prohibit P3 financing; school officials and associations warned it would remove a needed financing tool, and the committee voted to hold the bill for further study.
SALT LAKE CITY — A proposal to restrict how school districts finance construction — prioritizing general obligation (GO) bonds and barring public-private partnerships (P3s) and some lease-revenue mechanisms — was put on hold Feb. 14 after an extended committee debate and unified opposition from district officials and associations.
Representative Auxier introduced the second substitute to HB 332, saying the measure responds to repeated local cases in which voters rejected a bond but a district then pushed the same project forward using a lease-revenue bond or other tool.…
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