Council approves public-finance authority bonds for Roseman University; small local share to support campus improvements

The South Jordan City Council on June 2 approved Resolution R-2026-17, a TEFRA-required step allowing the public finance authority to issue tax-exempt private activity revenue bonds on behalf of Roseman University of Health Sciences.

CFO Sunil Naidu described the financing as a refinancing plus new borrowing "totaling about $140,000,000, $3,000,000 of which will be spent in South Jordan campuses, specifically putting some solar panels on the top of one of the buildings," and said the city held an informational hearing at the Roseman building on May 20 as required by federal rules. Sunil recommended council approval; no substantive public opposition attended the TEFRA hearing.

A Roseman representative who identified themself as Sammy spoke briefly about Roseman's dental programs and recent graduating classes, noting the school draws many students from out of state and that the program is growing.

Council members asked whether there was any liability for the city; staff said the arrangement is a private-activity bond and the city incurs no liability. The council moved, seconded and approved the resolution by roll call. Council members Harris, Johnson, Shelton, Zander and McGuire voted yes.

What happens next: the public finance authority will proceed with the bond issuance and Roseman will use the authorized financing to refinance existing debt and finance new projects, a small portion of which is expected to be spent on the South Jordan campus improvements described to the council.