Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Debt Issuance topic
No spam. Unsubscribe anytime.
Pottawattamie County authorizes up to $6 million in bonds to fund emergency communications equipment
Summary
The Board approved a substituted resolution authorizing up to $6,000,000 in general obligation capital loan notes to pay for peace officer and emergency communications equipment, appointed UMB Bank as paying agent/registrar, and approved the levy schedule and related documents; all votes were unanimous.
The Pottawattamie County Board of Supervisors approved a package of resolutions on April 28 authorizing issuance of up to $6,000,000 in General Obligation Capital Loan Notes, Series 2026, to fund peace officer equipment and emergency services communications components including towers, microwave links and consoles.
Supervisor Keith Jones moved and Supervisor Jeff Jorgensen seconded adoption of Resolution No. 33-2026, which substitutes a new resolution authorizing the issuance of the notes and sets the terms for issuance, levy and registration. The resolution outlines a levy schedule the county will assess to pay principal and interest, beginning with $1,202,000 for the 2026/2027 fiscal year and continuing with scheduled levies through 2034/2035. The resolution also approves a Continuing Disclosure Certificate and Tax Exemption Certificate necessary for the transaction.
Separately, the Board approved Resolution No. 32-2026 appointing UMB Bank, N.A., of West Des Moines as Paying Agent, Note Registrar and Transfer Agent, and authorized the Chair and County Auditor to execute the paying-agent agreement. The Board also approved an operating transfer (Resolution No. 31-2026) moving $258,708.87 from the 2018 bond series debt fund to the 2021B bond series debt fund as part of debt-service fund management.
The resolution specifies the notes will be dated May 13, 2026, be issued in registered form and, in the form shown, list annual principal maturities from 2027 through 2035 (the resolution sets each maturity and an interest rate schedule with 4.00% indicated for the printed schedule). The Board voted aye: Brian Shea, Tim Wichman, Susan Miller, Jeff Jorgensen and Keith Jones.
The resolutions cite Iowa Code Sections 331.402 and 331.443 for authority to issue the notes and contain customary provisions about registration, optional redemption after June 1, 2033, and continuing disclosure.
