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Des Moines County approves short-term loan notes to cover capital projects and insurance

July 02, 2025 | Des Moines County, Iowa


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Des Moines County approves short-term loan notes to cover capital projects and insurance
The Des Moines County Board of Supervisors on July 1 approved two short-term general obligation notes and designated a depository for the county recorder’s office.

The board approved Resolution 2025-35 authorizing a tax-exempt general obligation county purpose note (series 2025A) and Resolution 2025-36 authorizing a taxable general obligation county purpose note (series 2025B). The board also designated 2 Rivers Bank & Trust as the official depository for the Recorder’s office for fiscal year 2025–2026, with a maximum deposit amount of $200,000.

The loan resolutions authorize borrowing on a line-of-credit basis to cover several near-term projects and insurance needs. The projects listed in the resolution include parking improvements at sheriff’s department facilities ($250,000), general physical plant repairs and improvements at county buildings ($225,000), information-technology equipment for county buildings ($515,000), and acquisition of elections equipment ($661,000). The resolutions also include a line item for acquiring insurance for county operations ($777,000). The documents presented to the board described the borrowing as a short-term line of credit the county expects to repay so that it will have no long-term debt on the books at the end of the fiscal year on June 30, 2026.

Accounts payable claims presented for approval at the meeting totaled $388,054.46; the board approved the claims before considering the loan resolutions. The Recorder, Natalie Steffner, submitted the depository designation for approval under Chapter 12C.02 of the Iowa Code; the board approved that designation by voice vote.

The resolutions cite provisions of the Code of Iowa authorizing counties to issue general obligation notes for county purposes. Board votes were recorded in the meeting: Supervisors Tom Broeker, Shane McCampbell and Jim Carney voted yes on the loan resolutions and on the other formal items noted by the clerk.

The board did not adopt long-term bonding as part of these actions; materials presented described the instruments as temporary borrowing (a line of credit) to be paid down within the fiscal year.

Officials did not announce a public schedule for repayment beyond the statement that the county expects to retire the borrowing by June 30, 2026. The meeting did not include additional motions or amendments related to the bond resolutions.

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Scribe from Workplace AI
Scribe from Workplace AI