Parowan council advances up to $500,000 in library bonds and tables two items

The Parowan City Council and the city's Local Building Authority voted 4-0 on Oct. 8 on resolutions toward issuing up to $500,000 in lease revenue bonds to build library facilities. Council Member Rochell Topham was excused. ^[1]

The authority's Resolution LBA 2026-10-08 called a public hearing and authorized notice of intent to issue the bonds. The council then approved Resolution 2026-10-08A, which approves the authority's adoption of a parameters resolution. The parameters cap the bonds at $500,000, a term of 32 years and an interest rate of 3 percent. ^[1]

Marcus Keller, who guided the authority through the item, said the city won state Community Impact Board funding of a $142,000 grant and a $333,000 loan at 1.5 percent for 30 years. He estimated the below-market rate would save taxpayers well over $100,000 in interest compared with market rates of roughly 5.5 percent, not counting the grant. The loan will be issued through the lease revenue bond, secured by a ground leasehold deed of trust on the project area, which is leased back to the city for $1 a year. Keller said that structure preserves the city's stronger credit sources for future borrowing. ^[1]

The council set the public hearing for Nov. 12. The minutes say a second council resolution will follow and closing is expected in December, with proceeds held in escrow for the city. ^[1]

The council tabled a request tied to lighting for the Pickle ball for Parowan group's courts. The nonprofit has two bids for lighting and has raised $30,000, but said it was about $10,000 short after grant terms changed. The mayor outlined a possible city contribution of a transformer and meter base. City Manager Dan Jessen said the two bids were not comparable. Council Member David Burton relayed that Topham had concerns and asked for the item to be tabled, and the motion carried with no opposition noted. ^[1]

The council also tabled, 4-0, an amendment to the Eagle Rock Commercial Subdivision. Jessen said the owner, who bought all the commercial lots except Lot 1 and is building a trailer sales business, asked to dedicate a public road and waive the full standard of a 60-foot right-of-way with 42 feet of asphalt, curb, gutter and sidewalk. The Planning Commission, advised that only a waiver of curb, gutter and sidewalk was before it, would approve only a 42-foot asphalt road with or without those features. Jessen said he did not expect action that evening. ^[1]

In reports, Burton confirmed the city's pressurized irrigation system had been shut off the day before. Council Member Lyle Barton said the diversion gates were installed and the structure was working as a dam, but gate actuators, electrical work and cleanup remained. Power Director Jeremy Franklin said the ordered transformers would not arrive until mid-November or December. The council had pulled its Sept. 24 minutes from the consent agenda to correct errors. ^[1]