Salt Lake County is moving forward with plans to issue Transient Room Tax Revenue Bonds, Series 2026, to finance various tourism-related projects, according to a public notice issued by the County Clerk. The issuance follows resolutions adopted by the County Council on Sept. 15, 2026, and Sept. 29, 2026, pursuant to the Local Government Bonding Act.
The proposed bonds will be used to finance the acquisition, remodeling, or construction of various buildings and transportation infrastructure for tourism purposes. This includes related purchases, renovations, and other capital projects. Additionally, the funds will cover required deposits for a debt service reserve fund and the costs of bond issuance.
The Issuer intends to issue the bonds in an aggregate principal amount of up to $375,000,000. These bonds are scheduled to mature in no more than 36 years from their date of issuance. They are expected to be sold at a price of at least 97% of the total principal amount and will carry interest rates not exceeding 7.0% per annum.
The bonds are special, limited obligations of the Issuer. Repayment is planned through revenues from transient room taxes, convention center hotel fees, and pledged highway funds that are legally permitted for use in the project. While the Issuer currently has no outstanding bonds secured by these specific revenues, it has agreed to consider appropriating other legally available moneys if the primary revenues prove insufficient for payment.
Based on current interest rate estimates and the financing plan, the estimated total debt service cost of the bonds, if held until maturity, is $443,123,347.69.
The Salt Lake County Council previously reviewed the General Indenture of Trust and a Supplemental Indenture of Trust in substantially final form during the adoption of the resolution. A copy of the Resolution and the Indenture is available for examination at the County Clerk’s office, located in Room N2-700 of the Salt Lake County Government Center at 2001 So. State Street, Salt Lake City.
A public hearing is scheduled for Oct. 20, 2026, at 1:30 p.m. in the Council Chambers, Room N1-110, at the Salt Lake County Government Center. The hearing's purpose is to receive public input regarding the bond issuance and any potential economic impact the financed projects may have on the private sector.
