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City Manager to review public finance options after savings rate drops
Summary
City Manager David Larson said the Admin/Finance Committee will review materials from Zions Public Finance after the city's savings rate decreased and may consider working with US Bank or seeking market options.
City Manager David Larson told the council the Admin/Finance Committee will review information from Zions Public Finance because the city’s savings rate "has decreased since they last met and will reduce the interest rate." He asked whether council would prefer working with US Bank or seeking proposals on the open market; Councilman Blair Halverson suggested the committee review the information first.
Larson also noted that while the city now understands the risk identified in the Weber River student study, moving forward is complicated because the at-risk area sits on UDOT property and may require coordination with that agency.
