To expand bus service, the Utah Transit Authority is eyeing borrowing money next year through bonding to enlarge or build new garages because current ones are essentially at full capacity.
Before UTA may borrow more money through bonding, that commission now must approve it because of restructuring ordered last year by the Legislature. That came, in part, over concern about UTA’s $2.1 billion debt, incurred essentially as a mortgage to speed construction of its TRAX and FrontRunner rail systems.
Payment on that debt is now UTA’s single largest expenditure each year, costing $119.