Franklin County authorizes steps to sell up to $1.3 million in urban renewal bonds; April 7 bid date set

The Franklin County Board of Supervisors on March 24 adopted a resolution taking additional action toward entering a General Obligation Urban Renewal Loan Agreement and issuing General Obligation Urban Renewal Bonds in a principal amount not to exceed $1,300,000 to support the 2026 Courthouse Urban Renewal Project. The board’s vote was unanimous (Lukensmeyer, McVicker, Chris Vanness — ayes).

The resolution authorizes use of a Preliminary Official Statement prepared for the bonds, designates Speer Financial, Inc. as municipal advisor, and authorizes the municipal advisor to use and finalize the Official Statement and to arrange for distribution. Sealed bids for the Bonds will be received until 10:30 a.m. CDT on April 7, 2026, at the County Auditor’s office; the Board will meet at 1:00 p.m. that same day to consider bids and award the Bonds. The resolution also authorizes use of electronic bidding procedures through Speer Auction® in accordance with Section 75.14 of the Code of Iowa.

The resolution cites applicable Code of Iowa provisions authorizing the Loan Agreement and bond issuance and states that, as of the March 24 hearing, no petition had been filed requesting that the proposal be submitted to the registered voters of the county. The resolution declares that the action taken constitutes the “additional action” required under Iowa law and delegates authority to the County Auditor and Board Chairperson to complete the P.O.S. and other steps necessary to consummate the sale.