The Municipal Building Authority of the City of Hurricane intends to issue Lease Revenue Bonds, Series 2026, to finance several municipal construction projects. According to a notice posted to the city's website, the authority plans to hold a public hearing to gather testimony regarding the proposed issuance.
The Series 2026 Bonds are intended to provide funding for the acquisition and construction of a new police station and a new city hall building, along with related improvements. These projects are collectively referred to as the Series 2026 Project. Additionally, the funds will be used to pay for costs associated with the bond issuance and to fund a required debt service reserve fund.
The proposed bonds will have a term length not exceeding 31 years. The average annual amount the Authority will be required to pay in principal and interest is $2,024,754.57. Hurricane City is the intended lessee of the facilities to be constructed, with expected annual lease payments totaling $2,024,754.57.
A public hearing is scheduled for Nov. 5, 2026, at 6:00 p.m. at 147 North 870 West, Hurricane, Utah. The Authority anticipates taking action on the proposal to issue the Series 2026 Bonds directly following the hearing at the same meeting.
