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Waverly council approves bond issuances, financing agreements and municipal contracts
Summary
The Waverly City Council on May 18 unanimously approved a package of financing and project resolutions, including $2.6M in local option sales tax revenue bonds (Series 2026B), $2.561M in sewer revenue loan notes (series 2026C) and $1.925M general obligation bonds (series 2026A); the council also approved task orders and small public‑works contracts.
The City of Waverly City Council approved a slate of financing measures and related municipal agreements at its May 18 meeting.
Resolutions approved by unanimous roll call included appointments and bond/loan authorizations: Resolution 26‑115 appointed UMB Bank NA of West Des Moines as paying agent, bond registrar and transfer agent; Resolution 26‑116 authorized issuance of $2,600,000 in local option sales and service tax revenue bonds (series 2026B); Resolution 26‑117 authorized a $2,561,000 sewer revenue capital loan note with the Iowa Finance Authority (series 2026C); and Resolution 26‑119 authorized $1,925,000 in general obligation bonds (series 2026A) to fund several projects including cemetery road paving, work on 13th and 10th Avenues and purchase of trucks.
Council members also approved project‑level task orders and procurement items: Resolution 26‑122 authorized a task order with Bolton & Mank, Inc. for a zoning and subdivision code update ($49,872); Resolution 26‑123 authorized Bolton & Mank task order #5 ($28,000) and an HRS surveying proposal ($5,500) for the 13th Avenue site survey; and Resolution 26‑124 approved a $4,422.42 quote from BNB Lawn Care Inc. to install irrigation at the north end of Coleman Park and authorized the leisure services director to sign the quote.
On each contested agenda item, the council conducted a roll call vote and the clerk recorded affirmation from council members. The mayor noted that the general obligation bond proceeds will be used for a “wide variety of projects,” naming cemetery road pavement, 13th Avenue and equipment purchases as examples.
Why it matters: the bond and loan agreements provide immediate funding for capital projects and infrastructure work; the code‑update contract addresses long‑standing zoning inconsistencies and the surveying and park irrigation approvals support near‑term construction and maintenance work.
What’s next: staff will proceed with contract execution and project implementation; the zoning‑code update will be a multi‑step planning process overseen by city staff and consultants.
