Utah transit board member questions plan to borrow $88.5M when the agency is $2B in debt
“Utah Transit Authority board member Brent Taylor raised red flags Wednesday about agency plans to borrow $88.5 million next year, adding to its $2 billion debt that already makes UTA spend $1 of every $3 in its budget for finance payments. Taylor, the mayor of North Ogden who often acts as a maverick on the board, said the bulk of that new borrowing is for facility maintenance, which most local governments handle through normal operating budgets without borrowing — akin to not going into debt to pay for groceries. “That raises a red flag,” he said. “I’m very concerned.”
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Sure is empty down here...