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Norwalk council approves several routine resolutions; votes at a glance
Summary
Norwalk’s City Council approved a package of routine resolutions and ordinance readings Oct. 16, including an IRS arbitrage rebate payment related to 2021 bonds, a street rehabilitation project in the Legacy area, a public-hearing date for a proposed $6 million water revenue loan for a Central Iowa Water Works buy-in, and a zoning map amendment second reading.
Several items on Norwalk’s Oct. 16 agenda were approved by council with brief staff presentations and roll-call votes.
Key actions (votes at a glance)
- IRS arbitrage rebate payment related to the city’s 2021A general obligation bonds: staff explained the IRS requires a rebate of excess earnings on bond proceeds; staff reported total interest earned of roughly $123,000 and a required payment to the IRS of about $15,000. Motion to approve…
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