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Hinckley council adopts resolution to authorize wastewater revenue bonds, schedules July 2 public hearing
Summary
The Hinckley Town Council on June 4 adopted Resolution 26-06-04 to authorize issuance of up to $1.5 million in wastewater revenue bonds to fund lagoon upgrades and system improvements; the town expects to issue about $961,000 and scheduled a public hearing for July 2, 2026.
Hinckley — The Hinckley Town Council on June 4 adopted Resolution 26-06-04 authorizing the issuance of wastewater revenue bonds in an aggregate principal amount not to exceed $1,500,000 to finance upgrades to the town’s wastewater lagoons, system improvements and related engineering and issuance costs. Mayor Alan Miller read the resolution during the meeting and the council voted to adopt it.
The action sets maximum parameters for the bonds — including a maximum interest rate and a maximum maturity of up to 35 years — and schedules a public hearing on the proposal for 7:00 PM July 2, 2026, in the Town Council Chambers. The town said the State of Utah Water Quality Board has tentatively agreed to purchase the bonds at an interest rate not to exceed 2 percent per annum. While the resolution authorizes issuance up to $1.5 million, the town anticipates issuing approximately $961,000, with an estimated interest cost of $210,805 and a total estimated financing cost of $1,171,803.
Why it matters: The bonds are intended to fund wastewater infrastructure work the town says is necessary to upgrade lagoons and complete system improvements. The resolution also provides for a pledge of wastewater revenues to repay the bonds and establishes procedural elements such as a contest period and notice requirements.
Council Member Ron Black moved to adopt the resolution; Council Member Skip Taylor seconded. The roll call vote recorded Skip Taylor, Kristi Townsend, Ron Black and Mayor Alan Miller voting aye; Council Member Chris Mork was absent and the motion carried.
Next steps: The council will hold the public hearing July 2 to receive public input on the bonds and any potential impact to the private sector from project construction. Notices will be posted on the Utah Public Notice Website, the town website and published for two consecutive weeks in the Millard County Chronicle Progress before the hearing.
