Bismarck commissioners approve two bond sales, award airport and architect contracts and adopt revised special‑assessment policy

The Bismarck Board of City Commissioners approved two bond authorizations and several consent agenda items and adopted a revised special‑assessment policy at its Nov. 25 meeting.

City finance staff introduced two separate bond issues: the 2025 refunding improvement bonds (Series U) with a par amount of about $15,295,000 and a true interest cost of 3.135% on a 15‑year maturity, callable in 2033; and the Sidewalk/Curb & Gutter warrants (Series SCG 2024) with a par amount of about $1,835,000 and a true interest cost of 3.2035% on a 10‑year maturity, callable in 2031. John Lundby of Collier Securities said both public sales drew competitive bids and planned closings are on Dec. 9. "The winning bid for the ... issue resulted in a true interest cost of 3.135% to the city on a 15 year maturity," Lundby said.

Commissioners noted the city’s strong credit rating. City staff referenced a Moody’s AA1 credit rating and discussed reserve and long‑term liability ratios during questions from commissioners. Staff said the city's long‑term liability ratio is about 130% and the fixed‑cost ratio about 8.6% at present.

On the consent agenda the commission removed items E1 (an amendment request from the Bismarck Airport related to the Executive Air Taxi Corporation development agreement) and J1 (permission to award architectural services for a city/county remodel to Endeavor North Design Architects) because one commissioner declared conflicts of interest and did not vote on those items. Vice Chair Cleary handled those pulled items and a motion to approve them passed on roll call.

The commission also held a public hearing and voted to adopt changes to the city's special assessment policy after a staff presentation. The adopted changes include clarified language on how properties are determined to "benefit" from improvements, substitution of the phrase "full depth rehabilitation" where appropriate, a new section clarifying right‑of‑way corridor reconstruction for local and collector streets (to reflect projects such as Ottawa Street), removal of an unused trunk infrastructure fee section related to pre‑2019 policies, and use of a static 10,000‑square‑foot baseline for residential oversized/undersized lot adjustments for future districts. City staff recommended the changes take effect immediately for new districts and for districts not yet under contract.

Votes at a glance • Motion to approve consent agenda with E1 and J1 removed: approved (roll call). • Motion to approve pulled consent items E1 (Bismarck Airport amendment) and J1 (architectural services award): approved (roll call). • Motion to award 2025 refunding improvement bond, Series U (~$15,295,000): approved (roll call). • Motion to award Series SCG 2024 warrants (~$1,835,000): approved (roll call). • Motion to adopt revised Special Assessment Policy: approved (roll call).

The commission did not receive public comment on the special assessment changes. The meeting adjourned after brief commissioner remarks about snow operations and an announcement about open volunteer board and Citizen Academy applications.