S&P Global Ratings assigned its 'AA' long-term rating to West Point , Utah's anticipated $8.570 million series 2025 sales and franchise tax revenue bonds. The outlook is stable. The bonds are secured by a pledge of revenue from a sales and use tax, energy franchise tax, and telecommunications franchise tax. The Utah State Tax Commission collects the 1% local sales and use tax and disburses the revenue monthly to the city. The amount of disbursements for the 1% local levy is based on a formula: 50% of sales tax collections based on population, and 50% based on point of sale. The telecommunications franchise tax, collected by the state and distributed monthly, is levied at 3.5% of telecommunications providers' gross receipts
