The Salt Lake Tribune reports on City Council’s unanimous decision to loan $11.7 million for the new aquarium facility:
“Under the agreement, the city will take out a sales-tax revenue bond for $11.7 million to cover the city’s share of the project, as well as cover the first year of payments while the aquarium gets up and running. The original agreement only covered the $11 million construction cost.
“The aquarium will get the remaining $7 million from donations and $2 million from the state.
“Under the agreement, the aquarium will give the city title to the building and its exhibits. The city will hold that until the bond is paid off.”
FULL STORY HERE
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