Hunter County adopts ordinance creating county improvement authority to help municipalities borrow more cheaply

The Hunter County Board of Commissioners on Aug. 19 adopted Ordinance 2025-17 to create the Hunter County Improvement Authority, a municipal finance entity the board said will let towns borrow using the county’s bond rating. Supporters said the authority is intended to let municipalities pool borrowing and access lower interest rates. Administrator Brad Meyer told the board that “an independent analysis revealed that over the course of nearly 18 months, our 26 municipalities would have saved nearly $700,000 in borrowing costs” if they had been able to leverage the county’s triple-A rating. The commissioners opened a public hearing before the vote. A member of the public who identified themself as Freeholder Roller urged the board to approve the measure and described it as a cost-saving step that would benefit taxpayers and municipal budgets. The public hearing was then closed and the board moved to a roll-call vote. Commissioner Soloway moved adoption of the ordinance and Commissioner Cool seconded. The roll call vote recorded all aye votes; the ordinance passed on final adoption and the board announced the measure would take effect according to its terms. The board’s resolution follows earlier briefings and a presentation the commissioners said emphasized potential savings for municipalities. Administrator Meyer and other commissioners said the authority is intended to function as a shared-service borrowing vehicle to reduce borrowing costs for local governments. No municipalities’ specific projects or borrowing plans were approved as part of the ordinance vote. The board said no additional action on particular projects was taken at Tuesday’s meeting; municipalities seeking to use the authority will have to follow whatever procedures the new authority adopts. The board also said the public will be able to review the authority’s procedures and any future bond or financing actions in subsequent meetings as those items come forward.