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FINANCIAL EXPERT URGES CLEARFIELD TO HOLD $6.5 MILLION BOND ELECTION >

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A recreation complex is needed and voters can be persuaded to support a needed bond issue, a financial adviser recently told the City Council.

Kent Michie, vice president for Smith Capital Markets in Salt Lake City, a division of Zions Bank, has pledged his support to help Clearfield stage a bond election for a proposed $6.5 million recreation complex.Although Michie said his company is not in the public relations business, he believes there is a non-belligerent and straightforward way to approach voters during a bond election. He outlined a four-point plan for success.

He said his company has been successful in developing the Oquirrh Park Fitness Center in Kearns as well as recreation centers in Cottonwood Heights and Logan City.

"I do see a trend in Utah to the construction of recreation centers," Michie told the council. "This is a good time to finance public projects," he said, noting that interest rates are low.

Michie said Clearfield won't be charged for Smith's services until financing for the project is complete.

"We will not charge the city anything if the project is not suc-cess-ful."

Michie also said banks always like to buy bonds but that bonds for the project would also be offered to Clearfield residents.

A recent survey of Clearfield residents showed they favor a city recreation complex. The city was unable to attract private investors to finance the complex.

Davis County does not have any recreation complexes. The closest one to Clearfield is in Roy.