We recently completed an update to Salt Lake Valley Fire Service Area’s Impact Fee Facilities Plan and Impact Fee Analysis. This is the fourth update our employees have done with the District. Frequent updates are needed to the Impact Fee Analysis because the District continues to expand its service area as new communities choose to join the District, which currently serves unincorporated Salt Lake County and the cities of Herriman, Riverton, Midvale, and Eagle Mountain.
Zions served as ﬁnancial advisor to the Utah Transit Authority in issuing over $2 billion in sales tax revenue bonds over seven years to fund the construction of 70 miles of light and heavy rail projects.
When other ﬁnancing options fell through, Zions purchased $10 million in tax increment revenue bonds from the Redevelopment Agency of the town of Vineyard. These funds were used by the RDA to begin building the infrastructure necessary for the redevelopment of the former Geneva Steel site and surrounding areas.
Zions advised on two series of water revenue bonds issued with the combined par amount of over $124 million. The purpose of the ﬁnancing was to save money. The District saved over $10.6 million in the process. The treatment and distribution system involves a complicated network of reservoirs, rivers, canals, aqueducts and storage tanks used to deliver drinking water to the residents of Salt Lake and Sandy.
Zions facilitated the sale of approximately $9.5 million lease revenue bonds issued by the Millard School District Local Building Authority. The bonds, when combined with a federal government subsidy, effectively provided 0% ﬁnancing for the District.
Zions led a team of consultants that crafted an economic plan for this county that is deﬁned not only by the energy industry, but also by its tourism opportunities. A major component of the Plan was an assessment of the best organizational structure that would enable economic development to move forward countywide, with the support and cooperation of the municipalities. The plan includes a signiﬁcant tourism component meant to capitalize on the scenic byway through Star Valley and the tourists traveling to Jackson Hole.
Zions underwrote approximately $4.2 million of water revenue bonds for Centerville City, Utah. The bonds were issued to provide reﬁnancing proceeds that allowed the city to save approximately $174,000, and improve the city water system.
Consultants at Zions were retained by Salt Lake County to draft an economic best practices document for all areas of Salt Lake County. The purpose of the document is to serve as a guide to economic development for municipalities, developers and the general public. As part of this project, the consultants prepared a database of information that would be useful to developers, county and city staff, business owners and interested residents, along with a timeline for the County to periodically update this information.
In 2012, Zions assisted the State of Utah in the issuance of $27.31 million of Lease Revenue Bonds, part taxable, part tax-exempt, to refund three previous bond issues and to purchase the Sevier County Courts building. The refunding saved the State $2.43 million or 13.36% of the refunded principal.
In 2012, Zions assisted Salt Lake County in the issuance of $14.6 million of general obligation bonds to complete improvements at the Hogle Zoo and the Tracy Aviary. The improvements at the zoo include an African Savanna exhibit, the Rocky Shores polar bear exhibit, and an Asian Highlands big cat exhibit. The aviary is completing renovations to the Wilson Pavillion, building an indoor Mexico/Panama rainforest exhibit, and a new bird show ampitheater.
Zions Public Finance is the Financial Advisor to the State of Utah. As such, over the last few years, we have assisted in the issuance of over $3.3 billion of general obligation bonds for road improvements, including the rebuild of Interstate 15 through Utah County, the I-CORE project.