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SL County Receives Triple-A Rating for Salt Palace Bond

SL County Receives Triple-A Rating for Salt Palace Bond



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SALT LAKE CITY (AP) -- Salt Lake County has received a triple-A rating for a 60 (M)million dollar bond approved for the Salt Palace expansion.

The county received the rating despite a string of recent scandals.

Confirmation of the rating was issued by Standard and Poor's, which is a leading bonding agency based in New York City.

County Councilman Joe Hatch said the news was NOT a surprise.

County leaders called for concurrent criminal investigations this spring to address abuses of tuition and time cards. The Mayor's Office has also vowed to tighten financial controls across departments.

The triple-A rating benefits taxpayers by ensuring the lowest available interest rate.

(Copyright 2005 by The Associated Press. All Rights Reserved.)

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