The city can pay it off quickly. Or it can do it over time, which brings higher interest costs but leaves more money for other projects - such as building a Major League Soccer stadium or renovating Pioneer Park.

Mayor Rocky Anderson wants the latter. He has suggested paying off the bill in $610,000 increments over 20 years - about the amount the city projects it will receive in sales tax from the new events the convention center is expected to bring in after the makeover.

But at least one council member - Dave Buhler, who says he has a majority of the council behind him - wants to pay off the bulk of the tab up front with the one-time $6.4 million the city will receive after refinancing some bonds.

"This [Salt Palace] is a one-time expense and we have a one-time unexpected source of money. It seems like a perfect match," Buhler said.

The mayor, meanwhile, suggests using those millions for other projects he's been pushing - to construct a soccer stadium for Real Salt Lake, overhaul Pioneer Park, protect open space or improve 300 South. It could also be used for sidewalk repairs, street lighting or other infrastructure improvements.

Anderson's 20-year finance plan would add $4.2 million in interest. But Deputy Mayor Rocky Fluhart said cities typically pay more in interest on large capital projects. He sees the $6.4 million money as an opportunity to fund projects "that would be very beneficial to our community."

Council members have the final say and must decide by the end of June.

In a special session earlier this month, the Legislature debated whether it would kick in money for the Salt Palace and thus lower the burden on Salt Lake City. Some lawmakers initially balked.

Under the agreement, Salt Lake County, which operates the Salt Palace, will pay $66.2 million, the city $8 million, the state $4 million and Sandy $1.8 million through a surcharge on South Towne Exposition Center ticket sales. That Sandy-based convention facility will get a parking garage out of the deal.

hmay@sltrib.com