Measures of Performance
Measures of Performance |
Cash Management and Investment |
Administer County Debt |
Tax and Revenue Anticipation Notes
Administer County Debt
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All county debt is issued pursuant to resolution of the County Council.
Once the Council authorizes issuance of debt, the County Treasurer, County Auditor, County Attorney, County Mayor and the County's Financial Advisor collaborate to complete the borrowing.
General Obligation Debt as of Dec. 31, 2008
| Series |
Purpose |
Original Amount |
Final Maturity |
Balance Outstanding |
| 2004 |
Refunding |
$102,795,000 |
Dec. 15, 2021 |
$95,935,000 |
| 2004B |
Children's Museum |
$15,000,000 |
Dec. 15, 2018 |
$10,770,000 |
| 2001 |
Refunding |
$73,810,000 |
Dec. 15, 2015 |
$57,270,000 |
| 2008 |
Open Space |
$24,000,000 |
Dec. 15, 2027 |
$23,000,000 |
| 2007 |
General Obligation |
$65,000,000 |
June 15, 2017 |
$60,675,000 |
|
Total |
$247,650,000 |
County General Obligation Bonds are approved by the citizens in an election held for that purpose with respect to each series of bonds.
General obligation debt of the County is limited by Article XIV of the Utah Constitution to 2% of the assessed value of property in the County. Based on current property values, Salt Lake County's debt limit is about $2.5 billion. |
Sales Tax Revenue Debt as of Dec. 31, 2008
| Series |
Purpose |
Original Amount |
Final Maturity |
Balance Outstanding |
| 2005 |
Salt Palace Expansion |
$57,095,000 |
Aug. 01, 2025 |
$52,850,000 |
| 2004 |
Salt Palace Expansion |
$14,700,000 |
Feb. 01, 2024 |
$12,905,000 |
| 2001 |
Hansen Planetarium |
$16,055,000 |
Feb. 01, 2017 |
$10,850,000 |
|
Total |
$76,605,000 |
Other County Debt - Municipal Building Authority as of Dec 31, 2008
| Series |
Purpose |
Original Amount |
Final Maturity |
Balance Outstanding |
| 2002 |
University of Utah Project |
$13,390,000 |
June 1, 2027 |
$11,486,000 |
| 2001A |
MBA Refunding |
$34,240,000 |
Oct. 1, 2017 |
$18,835,000 |
| 1997 |
Riverbend Golf Refunding |
$7,835,000 |
Oct. 1, 2012 |
$2,605,000 |
|
Total |
$32,926,000 |
The Municipal Building Authority ("MBA") was created in 1992 for the purpose of acquiring, constructing and improving specified projects on behalf of the county.
The MBA is a not-for-profit corporation with a Board of Trustees comprised of the members of the County Council. |
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