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Local Building Authority adopts tentative FY2025-2026 budget to cover 2022A bond
Summary
Pleasant Grove City’s Local Building Authority adopted Resolution 2025-01LBA on May 6, 2025, approving a tentative FY2025-2026 budget that officials said will use lease proceeds from The Ruth Theater to pay principal and interest on the authority’s 2022A bond.
The Pleasant Grove City Local Building Authority adopted Resolution 2025-01LBA on May 6, 2025, approving the tentative budget for fiscal year 2025–2026. Finance Director Denise Roy presented the item and told trustees the LBA fund will receive lease moneys from The Ruth Theater, which will be applied to payment of principal and interest on the 2022A LBA bond.
Trustee Eric Jensen moved to adopt the resolution; Trustee Todd Williams seconded. Trustees Cyd LeMone, Eric Jensen, Steve Rogers and Todd Williams voted in favor; Trustee Dianna Andersen was recorded as not present. The minutes state the motion “carried unanimously.” The minutes also record that the Local Building Authority minutes of May 6, 2025, were approved by the Board on June 24, 2025.
