BOUNTIFUL -- A final vote on a $16.5 million bond package to help finance new turbines at a city generating plant has been postponed until Nov. 3.
City leaders had planned on finalizing the bond package as part of a city council meeting Tuesday, but procedural delays from a group insuring the bond forced the postponement. The council voted to hold a special meeting Nov. 3 to finalize the package.
The bond is expected to provide the lion's share of funding for the $25 million project, which will facilitate the installation of two new natural gas-fired turbines at the city generating plant on 200 West.
The bond package is being backed up with new utility revenues, which will be generated by the implementation of a 5 percent rate increase effective Dec. 1.