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Council sets bond-sale date, approves preliminary statements and passes utility-rate ordinances
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Summary
Council set an April 23, 2026 sale date for the GEO corporate-purpose bond and passed multiple utility-rate ordinances on second consideration (reported 5-0). Staff cited the city’s top-tier bond rating and outlined modest irrigation, sewer and stormwater increases.
The Clive City Council on April 9 authorized staff to proceed with a GEO corporate-purpose bond sale and approved utility-rate ordinances on second consideration. Staff said the city maintained its top-tier rating and recommended setting the bond sale date for the next council meeting, April 23, 2026, and authorizing use of the preliminary official statement.
Liz (staff) summarized the utility-rate changes included in the budget process and under consideration: a 0% increase for residential and commercial customers during the transition to a fixed/variable rate structure, a roughly 2% increase in irrigation water rates, a 4.5% rise for sewer and a 3% hike for stormwater. She noted there had been no public comment since the last meeting and recommended approval.
Council moved and approved the resolution setting the bond-sale date and the ordinances referenced in the packet; votes were recorded as 5-0 on the bond resolution and on each ordinance during second consideration.
Why it matters: The bond-sale authorization advances financing for CIP projects included in the bond issue; the utility-rate structure change shifts billing toward fixed and variable components and modestly increases usage-related charges for irrigation, sewer and stormwater.
What’s next: Staff will finalize the preliminary official statement and present the bond sale items at the April 23 council meeting; utility-rate ordinance third readings and implementation steps were noted for upcoming meetings.
