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Kanab authorizes five‑year municipal advisory agreement with Zions Public Finance
Summary
The council unanimously authorized a five‑year Municipal Advisory Services Agreement with Zions Public Finance, Inc., covering debt issuance guidance, market monitoring, refunding analysis, and a fee schedule tied to bond proceeds. The contract excludes advisory services tied to Zions’ commercial banking activities.
The Kanab City Council voted unanimously on Feb. 10, 2026, to authorize a five‑year Municipal Advisory Services Agreement with Zions Public Finance, Inc., a registered municipal advisor, to provide debt issuance and related advisory services.
City Manager Kyler Ludwig described Zions’ prior work with the city on projects such as downtown revitalization, the city pool, wildland fire truck acquisition and the new police station. The proposed agreement covers advisory services for general obligation bonds, revenue bonds, lease revenue bonds, market monitoring, refunding analysis and assistance in selecting bond professionals. The agreement specifies fee rates tied to proceeds (for example, $2.50 per $1,000 of proceeds for general obligation bonds) and a $15,000 minimum fee per issuance; additional fees apply for continuing disclosure and optional studies.
Ludwig noted that Zions is registered with the Securities and Exchange Commission and the Municipal Securities Rulemaking Board and that the agreement includes required disclosures of potential conflicts of interest. The agreement explicitly excludes advisory services related to any direct commercial banking transactions Zions may have with the city.
Councilmember Corry moved to authorize the mayor to enter the five‑year agreement; Councilmember Heaton seconded and the motion passed unanimously.
