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Ballard City Council approves lease agreement with Zions Bank under state contract pricing
Summary
The council voted unanimously to approve a lease agreement with Zions Bank Corporation using existing state contract pricing and the same leasing company and terms as a previous lease; the mayor said the attorney's opinion letter will follow when qualifications are met.
Mayor Nile Mathisen told the council on May 19 that Ballard City will enter into a lease agreement with Zions Bank Corporation (ZMFU, II) using existing state contract pricing and the same leasing company and terms as a prior lease.
Council Member Ben Allred moved to approve the lease agreement; Council Member Steve Secrest seconded and the motion passed unanimously. Mayor Mathisen said the lease may be finalized now and that the city's attorney would provide an opinion letter once necessary qualifications are satisfied.
The council did not provide contract amounts or further financing details at the meeting; the mayor indicated the terms mirror the prior arrangement and that documentation from legal counsel is forthcoming.
