Audubon County supervisors set Nov. 25 hearing on up to $1.5 million road-grader loan

The Audubon County Board of Supervisors voted Nov. 12 to set a public hearing for 10:00 a.m. Nov. 25 in the Supervisors Room at the courthouse on a proposed Road Use Tax Revenue Loan Agreement for a principal amount not to exceed $1,500,000 to acquire road graders for county road maintenance.

The board approved Resolution 2025-62, which directs the county auditor to publish notice of the planned loan and hearing consistent with Sections 331.402 and 331.443 of the Code of Iowa. The resolution states the loan would not be a general obligation of the county but would be payable solely from annual road use tax funds received from the State of Iowa, and those funds would be pledged for payment of principal and interest under the loan agreement.

The resolution also contains a declaration of official intent under Treasury Regulation section 1.150-2 stating the county reasonably estimates the Acquisition will cost approximately $1,500,000 and expects to reimburse qualifying expenditures from the proceeds of the loan.

Supervisor Kent Grabill moved to adopt the resolution; the motion was seconded by Chairman Heath Hansen and recorded as "all in favor." County Auditor Lisa Frederiksen was directed to publish the statutorily required notice at least once, no fewer than four and no more than twenty days before the hearing. At the Nov. 25 hearing, oral or written objections may be filed; after considering objections the board may proceed and such a decision could be appealed to District Court within 15 days, as described in the notice language in the resolution.

Next step: the public hearing on Nov. 25, 2025 at 10:00 a.m. in the Supervisors Room, Audubon County Courthouse.