Salt Lake County moved one step closer to building a new minimum security jail in South Salt Lake with the sale of $12 million in 10-year general obligation bonds this week.

Ehrlich-Bober outbid five other competitors for the bond by offering the county a 6.689949 percent interest rate. The highest rate among the six bids was 6.812288 percent. The narrow spread resulted in a difference in interest costs to the county of only $140,970 between the high and low bids, which reflects well on the county, said County Treasurer Art Monson.Salt Lake County had two AAA ratings and one AA+ rating from New York bonding firms as it put the bond issue out to bid.