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Provo council approves $20 million transportation-sales-tax bonds for airport terminal expansion
Summary
The Provo Municipal Council approved a resolution to issue up to $20 million in transportation sales tax revenue bonds and an interlocal agreement with Utah County to finance an airport terminal expansion; council members said the city plans to repay the bonds early with airport revenues.
The Provo Municipal Council voted unanimously on Feb. 10 to reauthorize up to $20,000,000 in transportation sales tax revenue bonds and approve an interlocal agreement with Utah County to support construction of an expanded airport terminal. The vote followed a required public hearing and questions about repayment plans and lender due diligence.
Public Works administration division director Jimmy McKnight told the council the earlier…
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