Enoch sets a $5 million ceiling for park bonds; no borrowing recorded yet

The Enoch City Council has approved the framework for borrowing up to $5 million to buy land for and build a park, repaid from sales tax revenues. As of the latest records reviewed, no bonds have been issued. ^[1][2][3]

The August vote

On Aug. 19, 2026, Council Member David Harris moved to approve the sales tax revenue bond parameters resolution, and Council Member Kimberlee Trower seconded. Harris, Shawn Stoor, Debra Ley, Trower and Jacob Miner voted yes. ^[1]

Marcus Keller of Cruz Municipal Advisors described the parameters: a principal amount of up to $5,000,000, interest of no more than 6.5%, a discount of no more than 2% and a term of no more than 21 years. ^[1]

"It doesn't mean that we have to borrow that much. It doesn't mean that we have to borrow anything," Keller said, according to the minutes. ^[1]

Keller said lender conversations indicated rates of 4% to 4.5%, with a term closer to 15 years under consideration. He said the amount actually borrowed would depend on what Treasurer Ashley Horton confirmed the city could afford in annual debt service. ^[1]

The minutes say the $5,000,000 ceiling came from a preliminary estimate for buying land and fully developing a park, including three to four ball fields, a playground and soccer areas. City Manager Ryan Robinson said the project engineer had not yet provided a more precise estimate. ^[1]

Repayment and other funding

Keller said the financing would use the same sales tax mechanism as the city's police station financing. Stoor said, "This isn't a direct burden on the tax on the citizens. It comes from sales tax revenue," and Keller confirmed, according to the minutes. ^[1]

Horton said the city has four bonds. She said one draws on the general fund and another, for the police department building, is paid by police impact fees. She said borrowing the full amount using only sales tax revenue "could be tight depending on some things." ^[1]

Ley asked whether there is a point where debt impedes the city. "Yes, too much debt can be a very bad thing for personal finances as well as a city in any case," Keller said. ^[1]

Robinson said, "Our intent is to go get the majority of it paid for with grants and naming rights." He said naming rights were being explored for fields, dugouts, benches, water fountains and pavers. ^[1]

The hearing

A notice posted Sept. 1 on the state's Public Notice Website announced a Sept. 16 hearing on the city's intent to issue up to $5,000,000 of sales tax revenue bonds. It says the money would pay for acquiring and building a park and related improvements and the costs of issuing the bonds. It says the bonds would be secured by all legally available local sales and use tax revenues the city receives. ^[2]

At the Sept. 16 meeting, the council opened and closed the hearing. No one commented in person or online. The minutes record no bond resolution. ^[3]

The agendas for the Oct. 7 and Oct. 14 meetings list no bond item. ^[4][6]

The 2025 bonds

The city's audit for fiscal 2025 describes an earlier sales tax borrowing. On Jan. 8, 2025, Enoch issued $2,220,000 of sales tax revenue bonds at 2.5% for the construction of a public safety facility and related improvements. The audit says those bonds are secured with sales tax revenues. ^[5]

The audit's repayment schedule for the 2025 bonds runs through 2056 and totals $3,150,825 in principal and interest. ^[5]