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Saint Francis council adopts bond sale, approves bids and routine resolutions
Summary
The council adopted a $2.815 million general obligation promissory note (series 2026A) at a lower-than-expected interest rate, placed a PPI bid award into the record, approved a licensing renewal, adopted NIMS and other routine resolutions, and updated the library credit card policy.
The Saint Francis Common Council approved a package of routine actions and financial measures, including adoption of a general obligation promissory note that came in at a lower interest rate than originally projected.
Harry Allen of municipal advisor Ehlers told the council the presale estimate showed an interest rate near 4.6% but competitive bids came in around 3.5 percent with six bidders closely aligned. Because of a debt premium the underwriter priced into the issue, the total amount to be issued was reduced by $105,000 to $2,815,000; Allen said the structure and pricing are expected to save the city about $340,000 in interest costs compared with the presale projection. The council introduced and adopted the resolution authorizing the issuance and sale of the general obligation promissory note Series 2026A by voice vote.
Other routine approvals included adoption of the National Incident Management System (NIMS) resolution, a resolution naming Anne Eacker the 2025 Citizen of the Year, and a licensing committee recommendation to renew a beverage operator license for Mark S. Fisher (licensing committee met 02/03/2026). The council also moved to place into the record MSA's low bid of $121,300 from Mid City Corporation for the PPI Foundation Drain Disconnect Project; the bid was noted as within the PPI funding agreement budget and MMSD‑preapproved.
On personnel and policy items, the council placed on file a letter from the Police and Fire Commission conditionally extending an appointment to David Feldmeier as police chief pending a final commission appointment on Feb. 4; Feldmeier's anticipated start date was announced as Feb. 16. The council approved a revision to the city credit card policy to allow the library board to designate which library personnel may be issued library credit cards, noting the library board has statutory responsibility for library financial oversight.
Most votes were taken by voice and recorded as 'Aye' without roll-call tallies in the transcript; no contested vote counts were reported during the meeting.
