Franklin County Board unanimously awards up to $1.3M in urban renewal bonds to BOK Financial

The Franklin County Board of Supervisors unanimously adopted Resolution #2026-29 on April 7, 2026, awarding its General Obligation Urban Renewal Bonds, Series 2026, to BOK Financial Securities of Milwaukee, Wisconsin. The bonds were authorized in a principal amount not to exceed $1,300,000 to help pay costs of the 2026 Courthouse Urban Renewal Project.

The resolution, which cites Subsection 331.441(2)(b)(14), Section 331.402, Section 331.442 and Chapter 403 of the Code of Iowa, approves use of a Preliminary Official Statement prepared to facilitate the sale and authorizes Speer Financial, Inc., to act as municipal financial advisor. The minutes state that bids were received and canvassed and placed on file for consideration before the Board voted.

Supervisor McVicker introduced the resolution and moved its adoption; Supervisor Lukensmeyer seconded. The roll call recorded ayes from Lukensmeyer, McVicker and Chairman Chris Vanness; no nays were recorded and the Chair declared the resolution adopted. The resolution approves the purchaser (BOK Financial Securities) as the bidder giving the lowest interest cost to the county and authorizes the Chair and County Auditor to execute the sale agreement on behalf of the county.

The resolution also adjourned further action with respect to approval of the Loan Agreement and issuance of the bonds to the Board's meeting on April 21, 2026. The special session was adjourned at 1:12 PM and the minutes were attested by Katy A. Flint, County Auditor & Clerk.

Next steps recorded in the minutes include execution of the approved sale agreement and finalization of the Loan Agreement at the April 21 meeting; the minutes did not specify closing dates, interest rates from the successful bid, or other financing details beyond the purchaser name and principal cap.