Zions Bank is lowest bidder for Provo bond

PROVO — A competitive bond sale produced 14 bidders, and Provo officials awarded the bid this week to the lowest bidder, Zions First National Bank.

The total of the bonds is $9.14 million at 3.54 percent. The high bid was 3.73 percent, Provo finance director John Borget said.

A majority of voters — 72 percent — approved a $6.5 million road-bond measure on the November ballot.

Borget said the bid awarded this week is for $5.9 million to fund construction or maintenance of roads. The other $3.2 million included in the bond sale retires old debt on previous road bonds and issues new debt in its place.