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Commission approves bond sale, banking switch and several funding items; summary of votes
Summary
The Pittsburg City Commission awarded a $6,095,000 bond sale, approved ordinance S-115 and resolution 1302, selected GN Bank for city banking services, approved a BarK Ranch RLF reimbursement, and adopted court fee and appropriation ordinances.
At its June 9 meeting, the Pittsburg City Commission approved multiple formal actions that will affect capital projects, court fees and city banking arrangements.
Bond sale and related documents: The commission awarded the sale of $6,095,000 in general obligation bonds to BK Financial at a net interest cost near 3.15% after receiving six bids. Bond counsel reported that S&P affirmed a double-A-minus rating with a stable outlook; the bonds will finance projects including intersection improvements, park and soccer complex upgrades, airport projects and automated water-meter equipment. The commission voted to approve the sale, ordinance S-115 (authorizing issuance) and resolution 1302 (prescribing form and sale). "S&P gave the city a double A minus rating," the city’s bond counsel said, noting the rating helped secure favorable market bids.
Banking services: After a competitive RFP process and presentations, the commission approved staff’s recommendation to select GN Bank, the locally owned Crawford County bank, to serve as the city’s banking services provider. Staff noted GN Bank proposed to waive fees and provide local treasury-management services.
BarK Ranch RLF reimbursement: The commission approved an EDAC recommendation to allocate up to $32,785 (10% of project cost) from the revolving loan fund to BarK Ranch and Company LLC for renovations at 409 North Grand; the project presenter described a single-tenant 2,100-square-foot renovation with a three-year lease in place.
Municipal court fees and appropriation ordinance: The commission adopted ordinance G--1390 to raise certain municipal court costs to $100 after a staff review of peer communities’ fees. The commission also approved the appropriation ordinance for the period ending June 9, 2026, subject to HUD expenditure releases when funds are received; one commissioner recused from that vote.
The commission directed staff to proceed with necessary contract and implementation steps for these items and scheduled bond closing for June 25, 2026.
