Industrial-revenue bonds totaling $2.2 million, which were approved by North Salt Lake and used by A. V. Investments to build the Cottontree Inn motel in the city, have had to be rewritten because the investment company is selling the motel.

City officials said the new owners will be Lester J. and David J. Peterson of Rexburg, Idaho, owners of a motel chain.Legal papers written in connection with the issuance of the bonds are being rewritten to transfer the obligation to the new owners, city officials said.