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Wednesday, November 4, 2026

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Continuing story · Logan: fund balances, bonds and redevelopment money · all updates, newest first →

Logan: fund balances, bonds and redevelopment money · From the records

Logan's bonds and notes fell from $102.9 million to $83.0 million, fiscal 2021 to 2025

Annual reports show principal outstanding declining each year; in 2025 the council approved bond parameters of up to $60 million and then up to $40 million for water projects.

AI-generated illustration: a regional landscape for Logan, Utah
AI-generated illustration: The Utah Ledger · Original graphic · The Utah Ledger

Continuing storyLogan: fund balances, bonds and redevelopment money

Logan

Logan's annual financial reports show principal outstanding on bonds, notes and leases of $102,943,675 at June 30, 2021 and $82,959,316 at June 30, 2025. In the fiscal 2021 report the total is $102,517,000 in revenue bonds and $426,675 in notes. [1][2]

Reported totals for the years between: $98,211,755 in fiscal 2022, $92,910,702 in fiscal 2023 and $87,964,067 in fiscal 2024. In each of those reports the revenue bonds are all in business-type activities, and the 2022 report lists governmental bonds at $0. [3][4][5]

At June 30, 2025, revenue bonds payable were $82,341,000, notes payable $267,989 and leases and subscription arrangements $350,327. The fiscal 2024 report says Moody's rates the city's underlying general obligation bonds Aa2. [2][5]

The sewer plant, 2020

The fiscal 2020 report says the city's total bonded debt increased by $53,430,000 that year and lists $84,787,293 in principal outstanding on bonds and notes. At a May 2020 workshop, Finance Director Richard Anderson said the city was building a $150 million sewer treatment plant. [6][7]

New authorizations, 2025

On Jan. 7, 2025, the council approved parameters for water and sewer revenue bonds of up to $60 million, at a maximum 6% interest and a 31-year term. On March 18, 2025, it appropriated $10 million from water reserves and approved up to $40 million in bonds for the First Dam water tank and lines project. [8][9]

The fiscal 2026 adopted budget lists $40,000,000 of debt issuance under 2025 estimated. In August 2026 the council previewed carrying forward $46,749,137 for the water tank and waterline. [10][11]

The notes listing each bond issue, and the legal debt margin, were not retrievable for this review. [2]

Sources

11 cited, 11 of them primary records (loganutah.gov). Paragraphs carry [n] links to their sources.

  1. Logan City · FY2021 annual comprehensive financial report loganutah.gov
  2. Logan City · FY2025 annual comprehensive financial report loganutah.gov
  3. Logan City · FY2022 annual comprehensive financial report loganutah.gov
  4. Logan City · FY2023 annual comprehensive financial report loganutah.gov
  5. Logan City · FY2024 annual comprehensive financial report loganutah.gov
  6. Logan City · FY2020 annual comprehensive financial report loganutah.gov
  7. Logan Municipal Council · Minutes, May 19, 2020 (budget workshop) loganutah.gov
  8. Logan Municipal Council · Minutes, Jan. 7, 2025 loganutah.gov
  9. Logan Municipal Council · Minutes, March 18, 2025 loganutah.gov
  10. Logan City · FY2026 council-adopted budget loganutah.gov
  11. Logan Municipal Council · Minutes, Aug. 18, 2026 loganutah.gov

Reporting by The Utah Ledger from the public records above. AI-assisted; paragraphs link to their sources.

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