Final Bond Payment

I still remember the amount of relief, pride, and satisfaction when I made the last payment on my first car and received a clear title many years ago. Having ownership and taking care of our financial obligations is something that has helped to make our country expand our horizons and prosper. Recently West Valley City made final bond payments on the money borrowed to purchase and construct West Ridge Golf Course and make improvements to City Hall. The relief of this development will help to strengthen the foundation of the City and allow us turn our focus to other areas of debt relief and Citywide progress. Posted below here is the official statement issued by West Valley City on the matter:

West Valley City – The liability portfolio of Utah’s second largest city no longer includes West Ridge Golf Course or West Valley City Hall, as West Valley City made the final bond payments on the two facilities in January 2010. The final payment on the $15 million bond means the City can now redirect the bond payment funds to additional liabilities, including StoneBridge Golf Club.

“It’s always a good thing when you can eliminate debt,” says Director of Finance James Welch. “The payoff of this bond not only clears the debt on West Ridge Golf Course, but on City Hall as well.”

 The 18-hole West Ridge Golf Course was built by West Valley City in 1990. Funds from the $15 million bond were used to purchase land and build the golf course, as well as to provide improvements to West Valley City Hall.
 StoneBridge Golf Club, a 27-hole golf course, was purchase in 2001 for approximately $13 million; the bond is expected to be paid off in 2021.