Board approves $12.7M project funding with zero-interest bond over 25 years

March 22, 2025 | Natural Resources Department, Utah Environment, State Agencies, Organizations, Utah Executive Branch, Utah


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Board approves $12.7M project funding with zero-interest bond over 25 years
In a decisive move, the Utah Water Resources Board has approved a significant funding commitment for a new project, pledging 33.5% of the total cost, capped at $12,665,000. This decision, made during the board meeting on March 19, 2025, marks a crucial step in advancing water resource management in the state.

The board's motion, which received unanimous support, includes a plan for the bonded indebtedness to be repaid at 0% interest over 25 years. This translates to annual payments of approximately $528,000, which will also cover reserves. The approval reflects a strong commitment to sustainable financial practices while addressing the pressing needs of water infrastructure.

Board member Ibsen seconded the motion, and after a brief discussion, the vote was called, resulting in a clear "Aye" from all members present. The unanimous decision underscores the board's collective agreement on the importance of this investment for Utah's water future.

As the board moves forward, they expressed gratitude for the collaborative efforts involved in reaching this milestone. The next steps will involve detailed planning and execution of the project, ensuring that the allocated funds are utilized effectively to enhance water resources across the state.

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