County, new city negotiating 'gift'

Stillman added she's hopeful the two governments can reach a consensus on the final details of the loan by early next week. Although Cottonwood Heights has received about two weeks worth of sales tax revenues, Stillman said there's still a sizable gap between funds and expenditures.

The city did pay off its tax-anticipation loan and is now getting ready to fill its coffers with the rest of its nearly $4 million in annual sales tax dollars.

"Each month we get a more accurate picture of our financial resources," Stillman said. "We know the city is going to be solvent in the long range, it's just this start-up time."

And although the process of severing ties and finances with the county is taking some time, County Council members reiterated this week they want the separation done right so there is no misinterpretation of who gets what down the road.

"As important as this velvet divorce is, it's real important that we get all the details absolutely right," Councilman Joe Hatch said. "I don't think any of us want to continue to relive these nit-picky details."

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