Hurricane City is preparing two separate bond issues that will be discussed at back-to-back public hearings on Thursday, Nov. 5, 2026, at 6 p.m. According to a report published Oct. 12, the hearings will be held at 147 N 870 W to address municipal building projects and significant electric system upgrades.
The first matter involves Series 2026 Lease Revenue Bonds issued through the city's Municipal Building Authority. These bonds are intended to fund the acquisition and construction of a new police station, a new city hall building, and related improvements, as well as a debt service reserve fund and issuance costs. While the principal amount was not stated in the Oct. 2 notice, the term is expected to not exceed 31 years, with average annual lease payments from the city's general budget estimated at $2,024,754.57.
The second matter concerns Series 2027 Electric Revenue Bonds, which the City Council authorized on Oct. 1. These bonds, totaling up to $24 million, are designated for capital improvements to the city's electric system, including two new substations and transmission lines. These are special, limited obligations payable from the net revenues of the electric utility. The city estimates a total debt service of approximately $48,832,200 over a maximum 26-year maturity period.
The proposed municipal building bonds use a structure where the authority issues bonds and leases the buildings back to the city. Unlike local sales tax measures, these revenue and building authority lease bonds are approved by the City Council and the authority board rather than through a public vote. Mayor Clark Fawcett confirmed the council approved the authorizing resolutions in an Oct. 5 update.
The Nov. 5 hearings will serve as a forum for public input regarding the issuance and potential economic impact on the private sector. The Municipal Building Authority's governing board plans to vote on the lease revenue bonds immediately following the hearing.
