Ogden's debt rose from $109.5 million in fiscal 2020 to $294.4 million in fiscal 2025

Ogden's total debt was $294,388,649 at June 30, 2025, compared with $109,523,758 at the end of fiscal 2020, according to the city's fiscal 2025 annual financial report. ^[1] That works out to $3,371.34 per resident, up from $1,247.81. ^[1]

The largest jump came in fiscal 2024, when total debt rose from $162,149,110 to $285,755,114. ^[1] On Dec. 21, 2023, the city issued a $64,220,000 tax increment and sales tax revenue bond for the WonderBlock project in the Continental redevelopment area, and its municipal building authority issued $62,990,000 in lease revenue bonds. Both mature in January 2058. ^[1]

The state limit

Utah limits a city's general debt to 4% of taxable value. For fiscal 2025, Ogden's limit was $422,991,125, and its net debt applicable to the limit was $190,544,410, or 45.05% of the limit. ^[1] The share was 11.32% in fiscal 2023 and 41.34% in fiscal 2024. ^[1]

"The City has no general obligation debt for the past ten fiscal years," the report says. ^[1] The fiscal 2027 budget notes that general obligation debt payments are funded by voter-approved property tax levies. ^[2]

Other borrowing

Other debt outstanding at June 30, 2025, includes $23,255,000 in 2023 sales tax revenue bonds for the Marshall White Recreation Center and Junction parking; $3,718,000 in 2025 bonds for the Forest Service building in the Adams redevelopment area; $3,640,000 in 2019 franchise tax bonds; $2,410,000 in HUD Section 108 notes; and $96,005,000 in water, sewer and storm drain revenue bonds. ^[1]

The redevelopment agency signed a $5,462,044 promissory note to Union Pacific on Sept. 30, 2024, for the Union Station parcels at 2501 Wall Ave. It carries no interest unless it goes into default. ^[1] The city also has a federal WIFIA loan of up to $42,630,000, with nothing drawn at June 30, 2025, and a $34,370,000 state revolving fund loan, of which $50,000 had been drawn. ^[1]