Utah Senate backs new bonding to ensure highway, prison plan
SALT LAKE CITY (AP) — The Utah Senate has voted to authorize an additional $10.5 million in state borrowing to make sure transportation projects and a new prison don’t get short-changed under a $1.5 billion bonding package approved last year.
Republican Sen. Wayne Harper of Taylorsville says questions had arisen about whether the cost of issuing the bonds would out of the authorized amount or on top of it.
The Salt Lake Tribune reports the bill sent to the House floor on a 26-0 vote Wednesday would clarify that $1 billion will be authorized to speed construction of highway projects and the other $570 million dedicated exclusively to the prison relocation.
The new money would cover the bond costs, including the hiring of a lawyer and the use of bond-rating agencies.
Information from: The Salt Lake Tribune, http://www.sltrib.com