The County Commission voted 2-0 on Tuesday to authorize a $12 million revenue bond sale on behalf of the Ronald Reagan Academy.

Commission Chairman Steve White said the county is allowing the school to use its bond rating only to get a favorable interest rate on the note.

"We're not liable for anything," White said. The academy will assume the full responsibility for paying the bonds.

The state's Industrial Facilities and Development Act allows government entities to finance projects that are considered to be beneficial to the public.

Deputy County Attorney Kent Sundberg said the agreement with Ronald Reagan Academy is identical to one issued recently to Liberty Academy.

Jenni Theobald, a trustee for the Springville-based school, said the school currently is leasing the building from a management company and buying it will reduce expenses.

"We want to get out of that situation," Theobald said. "We're not planning on going anywhere."

The commission will conduct a public hearing on the bond sale at its Sept. 11 meeting.