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Show A-22 NOT ALL Lenders are always looking for new ways to help buyers get into the home of their dreams. Today they frequently use adjustable rate mortgages (ARMs) to increase the buyer's options. The interest rate on an ARM changes periodically to reflect changes in the national market. Since the loan starts at a rate that is lower than the national average, lenders can reduce the borrower's qualifying criteria. One way to distinguish between different ARMs is by the national index to which they are tied. Some ARMs are tied to a slow-moving index called the cost-of-funds index; these are usually the most desirable. ARMs that are tied to a more volatile index, such as Treasury Notes, can be adjusted upward at a quicker rate. Look at all the factors before choosing a loan. The faster index loan may start out with lower rates and lower monthly payments, but the slower index ARM may eliminate your concern about having to re-finance down th; road. For rock solid advice on buying or selling real estate, call Craig Reece at 801-647-8017 or toll free at 1-800-553-4666. Craig has been a full time Park City resident since 1973 and a full-time real estate agent since 1978. (435) 647-801 7 (435) 649-71 71 (800) 553-4666 Prudential Coleman Real Saddle view Office Park 2200 Park Avenue, Bldg B Park City , UT 84060 (800) 553-4666 (435) 649-7171 The Prudential and 4 are registered service marks of The Prudential Insurance Company of America. Equal housing opportunity. Each company independently owned and operated. "Good Neighbor service makes State Farm unique, my poliqholders swear by it year after year." - . c 'mm STATE Like a good neighbor, DON'T LET YOUR DOG BARK INCESSANTLY, ESPECIALLY IM THE LATE EVENING OR EARLY MORNING HOURS. Save on our lowest loan rates of the season. To Craig Reece, CRS ARMS ARE THE SAME Estate Bryan Daybell 1912 Sidewinder Dr., Suite 101 Park City, Utah 84060 (801) 649-9161 FARM Stale Farm Insurance Companies Home Offices: Bloomington, Illinois State Farm is there. BE A CONSIDERATE NEIGHBOR.. celebrate our 125th anniversary, Zions Bank is many of its most popular loans. From home equity loans and credit lines to personal loans and credit cards. Not to mention a special deal on conventional home mortgage loans. Just be sure to apply soon by visiting any office or calling Teleloan at 1.800. 789. LOAN these rates are good only through October 31, 1998. The Park Record GOP drafts preservation proposal SALT LAKE CITY (AP) Gov. Mike Leavitt and GOP legislative leg-islative leaders have been working work-ing on a comprehensive open-space-preservation proposal that they plan to introduce during the 1999 Legislature. The proposal, Republican leaders say, will pave the way toward saving tens of thousands of acres of vanishing farmland and grasslands along the Wasatch Front. GOP leaders intend to announce their plan before the end of September. Democratic legislative leaders said earlier that they will put forward their own comprehensive open-space-preservation agenda on Oct. 15. During the past two weeks, Leavitt has been meeting with House Speaker Mel Brown, R-Midvale, R-Midvale, who vigorously US West working out year 2000 problem SALT LAKE CITY (AP) If your first telephone call of 21st century fails to connect, do not automatically blame the Year 2000 problem. U S West Communications says the sheer number of calls revelers make in celebration of the new century may overload circuits, causing delays that have nothing to do with the date-related computer-coding glitch all the state's utilities are trying to fix. In fact, U S West anticipates few problems with telephone service related to the dawn of the new millennium, vice president i i i -am X M MM Steaks, Pastas, Chicken and Much More... Dinner. Served From 5.30 Closed Mondays 649-3140 Fresh local microbrews Nightly fish specials ZIONS BANK Member FDIC www.zionsbank.com opposed the main open-space bill that failed during the 1998 Legislature, House Majority Whip Kevin Gam, R-Layton, and Rep. Susan Koehn, R-Woods R-Woods Cross about drafting the new proposal. Garn said the group planned to meet again Monday, along with Senate President Lane Beattie, R-West Bountiful. "We've been working on this (open-space-preservation plan) since the end of the last session. It is coming together," Garn said. He declined to be specific, but said the plan will include tax incentives and other enticements entice-ments for local governments to preserve open-space easements for lands within their jurisdictions. jurisdic-tions. "We. believe that the real responsibility (of open-space Ted Smith told the Utah Information Technology Commission on Thursday. The company, which services Utah and 13 other states, already has completed 35 to 50 percent of the repairs to computers and equipment equip-ment necessary to address the Year 2000 problem, Smith said. It expects to have all of its systems fixed by 1999. "That's not to say we won't have some surprises," Smith said. "But any that do pop up should be small and shouldn't have a significant sig-nificant impact." The Year 2000 problem will m ) it Serving Fresh Seafood LOAN 4: o offering super-low rates protection) lies with local governments," gov-ernments," Garn said. "But I became convinced after the last session that the state must take the lead. Nothing has been done." In December 1995, Leavitt called a growth summit to discuss dis-cuss various issues around Utah's expanding economy and population. Preserving open space was one of the main themes of that bipartisan summit. sum-mit. But as Democrats have pointed point-ed out repeatedly since, no laws or funding have come from the Legislature to preserve the vanishing van-ishing lands. "Republicans have just refused to act, and we're saying with our plan that we will," House Minority Leader Dave Jones, D-Salt Lake, said. cause many computers that recognize rec-ognize only the last two digits of a year to fail or malfunction, because they will be unable to distinguish Jan. 1, 2000, from Jan. 1, 1900. U S West's effort to combat the problem involves repairing and testing its switching system as well as the technology used for operational, financial and administrative functions such as billing and scheduling, Smith said. Switching system components compo-nents is not a major concern because the company doesn't typically rely on date-related information to process voice and data communications. U S West has 163 full-time employees working to fix potential problems, prob-lems, he said. It is also developing develop-ing contingency plans it will Utah legislators consider aggressive driving law SALT LAKE CITY (AP) Utah is among several states debating laws against aggressive driving by motorists who weave through traffic, cut off other vehicles and, in the worst cases, trigger accidents or acts of violence. Arizona recently enacted enact-ed the first aggressive-driving law in the nation, and at least eight other states this year introduced nearly two dozen bills on the subject. Utah may not be far behind. No legislators have filed aggressive-driving bills here, but House Transportation Committee Chairman Don Bush, R-Clearfield, said Thursday that it's an idea worth considering. . "It sounds like (Arizona) is getting get-ting serious, and they need to on that stuff," Bush said. "That could be something that could help us on Equal housing lender Wednesday, September 16, 1998 The Democratic plan will include an inventory of current open lands along the Wasatch Front "that deserve to be preserved" pre-served" and state help in the planning process. It also will outline how joint partnerships should be built between state and local government officials and private enterprise. In addition, the plan will identify federal lands along the Wasatch ' Front that can be swapped for outlying state lands, and include 'some kind of funding mechanism," Jones said. He said that likely will include local tax incentives (an option that was killed by the GOP-controlled House in the 1998 Legislature) and perhaps a 10-year, $200 million bond to raise money for land and easement ease-ment purchases. employ if failures occur. AH major utilities serving Utah customers are reporting their Year 2000 compliance efforts to the Information Technology Commission, which in turn may report them to the Legislature. Utilities also have until Sept. 18 to submit progress reports to the Utah Public Service Commission, which regulates the industry. David Fletcher, coordinator of the state's Year 2000 compliance compli-ance effort, told the commission he is optimistic all sectors of the utilities industry are addressing the problem. "There are things that may create some difficulty, but major progress is being made with regard to critical infrastructure," he said. start something here." Bush said he intends to explore legislation. "Conditions are bad enough just driving around without somebody going off the deep end or getting mad and causing problems," he said. An impatient lane-changing motorist may have triggered a fiery tanker-truck collision Thursday on Interstate 15 that killed one person and shut down Salt Lake County's main north-south traffic route. Thursday's fatal collision did not involve road rage, nor would the reported conduct of the impatient driver appear to fit the guidelines of Arizona's aggressive-driving law, said Utah Highway Patrol Lt. Verdi White. But officials are investigating what Utah traffic laws, if any, might have been violated. Arizona's statute took effect just last month. It makes a misdemeanor crime of aggressive driving when a motorist speeds and commits two other infractions, including erratic lane changes, tailgating or failure to yield. A first offense. can lead to license suspension for up to 30 days in addition addi-tion to a six-month jail sentence and $2,500 fine. A second offense within 24 months means a one-year license revocation. Arizona House Transportation Committee Chairman Jerry Overton sponsored that state's aggressive-driving bill and is convinced other states will follow. "We're trying to get the word out that aggressive driving causes road rage and we're going to be tough on it," he said. We just need to get the message across that the few seconds or the minute you would save by cutting somebody off is not worth the gamble of the accident and everything else that might occur." Thanks to you. all sorts of everyday products are being made from the paper, plastic, metal and glass that you've been recycling. But ta keep recycling working to help protect the environment, you need to,buy those products. 8 BUY RECYCLED. AND SAVE.' So look for products made from , recycled materials, and buy them. It would mean the world to all of us. - To receive a free brochure, write Buy Recycled. Environmental Defense FUnd. 257 Park Ave. South, New York. NY 10010. or call 1-800-OALL-EDF. E3- 68 ?!BE5F |
