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Redwood County authorizes $1.51 million bond to finance Joint Ditch 5 improvements
Summary
The Redwood County Board of Commissioners adopted a resolution authorizing General Obligation Ditch Bonds, Series 2026A, in the estimated principal amount of $1,510,000 to finance improvements to Joint Ditch 5 and approved related agreements with Brown County, a municipal advisor and bond counsel.
The Redwood County Board of Commissioners on March 3 authorized General Obligation Ditch Bonds, Series 2026A, in an estimated aggregate principal amount of $1,510,000 to finance improvements to Joint Ditch 5.
The board adopted a resolution outlining that principal and interest on the bonds will be paid from revenues derived primarily from assessments levied against properties specially benefited by the project. The resolution, moved and seconded in open session, also authorized negotiation of the sale, ratified Baker Tilly Municipal Advisors, LLC as the municipal advisor, and authorized the law firm Kutak Rock LLP to serve as bond counsel.
County staff said the county and Brown County will share project costs under a Joint Ditch No. 5 Bond Agreement and approved the agreement in substantially the form presented. The resolution authorizes county officers, working with counsel, to execute related documents and finalize details prior to issuance.
The board scheduled a follow‑up meeting for 8:30 a.m. on April 7, 2026, to consider proposals on the bonds and take additional action as needed. The board's minutes state the issuance is intended to provide financing for project costs, capitalized interest if necessary, and issuance costs.
The resolution cites Minnesota statutes governing ditch financing and bond issuance; the board recorded that it will set forth required covenants in any resolution awarding sale of the bonds.
The board voted unanimously to adopt the resolution.
