Cache County authorizes sale of bonds to pay for new fairgrounds building

Cache County moved closer to having a new events center at the Cache County Fairgrounds Tuesday night when councilmembers voted unanimously to adopt a resolution authorizing the sale of $3.5 million is sales tax revenue bonds to be used for that purpose.

Alex Buxton of Zion’s Bank said he has been working with the county’s fiscal officer, Cameron Jensen, the last couple of weeks in putting together a request for bids. Buxton said there has been a lot of interest in the bonds, and three finalists were selected who will present their updated interest rate and term sheets today.

“We anticipate that that interest rate is going to be right around 2 ½ to 3 percent and we feel good about where the market’s been on interest rates over the course of this process,” Buxton said, “and so this resolution tonight officially allows us to move forward in selecting a purchaser. It provides delegating powers to Cameron Jensen, your finance director, to move ahead, assuming we stay within the parameters of the bonds.”

County Executive Craig Buttars has said he is hoping work can start on the new events center as soon as the county fair is over in August.

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