The Salt Lake City School District Board of Education adopted a resolution on November 4, 2026, authorizing the issuance of general obligation school building bonds. The bonds will have an aggregate principal amount of not to exceed $180,000,000.
The bonds are intended to raise money for constructing buildings, acquiring land and furnishings, and remodeling and updating existing school property under the charge of the Board. The issuance includes an interest rate not to exceed 6.00% per annum and a maturity period not to exceed 21 years from their date or dates. The bonds are to be sold at a discount from par of not to exceed 2.00%.
The Board will pledge the full faith and credit of the District for the payment of the bonds. Currently, the District has $136,775,000 of other outstanding bonds secured by the full faith and credit of the District. Detailed information regarding outstanding bonds is available in the District’s most recent Annual Comprehensive Financial Report on the Office of the Utah State Auditor’s website.
Based on the Board’s expected financing structure and interest rates at the time of the November 4, 2026, notice, the estimated total cost of the proposed bonds is $270,279,533, assuming a final maturity of 20 years and an aggregate principal amount of $180,000,000 held until maturity.
A copy of the resolution is available for inspection at the office of the Business Administrator of the Salt Lake City School District, located at 406 East 100 South, in Salt Lake City, Utah, during regular business hours from 8:00 a.m. to 5:00 p.m. Any person in interest has the right to contest the legality of the resolution or the bonds for a period of 30 days following the publication of the notice.
The resolution may be examined during regular business hours of the Business Administrator for at least 30 days following the date of the notice's publication. Alan Kearsley serves as the Business Administrator for the district.
