Altoona council approves $45.86 million in general obligation urban renewal bonds
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Summary
The council unanimously approved two loan agreements on June 2 authorizing $39.305 million (Series 2025A) and $6.555 million (Series 2025B) in general obligation urban renewal bonds and authorized the tax levy to repay them; Finance Director Andy Lent described these as final approvals.
The Altoona City Council unanimously approved two resolutions June 2 authorizing general obligation urban renewal bonds totaling $45,860,000.
Finance Director Andy Lent presented the final approvals for the Loan Agreements authorizing issuance of General Obligation Urban Renewal Bonds, Series 2025A for $39,305,000 and Series 2025B for $6,555,000, and told the council these approvals also authorize the levy of taxes to repay the bonds through maturity. Roll-call votes on both resolutions were recorded as unanimous (4-0).
The meeting record does not specify the particular projects or line-item uses funded by each series in the presentation; city finance staff will follow the bond-closing process and tax-levy steps authorized by the council.