Iron County Special Bond
OFFICIAL BALLOT PROPOSITION FOR
IRON COUNTY, UTAH
SPECIAL BOND ELECTION
NOVEMBER 21, 2023
/s/ Jon Whittaker
County Clerk
PROPOSITION
Shall the Board of County Commissioners (the “Board”) of Iron County, Utah (the “County”), be authorized to issue General Obligation Bonds in an amount not to exceed Eighty-Nine Million Nine Hundred Fifty Thousand Dollars ($89,950,000) (the “Bonds”) for the purpose of financing all or a portion of the costs of constructing, furnishing and equipping a new jail and related improvements; said Bonds to be due and payable in not to exceed thirty-one (31) years from the date of issuance of the Bonds?
Property Tax Cost of Bonds: If the Bonds are issued as planned, a property tax sufficient to pay debt service on the Bonds will be required over a period of thirty-one (31) years in the estimated average amount of $153.04 per year on a $405,000 primary residence and in the estimated amount of $278.25 per year on a business property having the same value.
The foregoing information is only an estimate and is not a limit on the amount of taxes that the Board may be required to levy to pay debt service on the Bonds. The Board is obligated to levy taxes to the extent provided by law in order to pay the Bonds. The amounts are based on various assumptions and estimates, including estimated debt service on the Bonds and taxable values of property in the County.