Spirit Lake council moves forward with up to $3.8 million GO notes for water-plant automation upgrades

The Spirit Lake City Council on June 25 unanimously approved steps to authorize a loan agreement and the issuance of up to $3,800,000 in General Obligation Capital Loan Notes to pay for waterworks acquisition, improvements and equipment, including the Water Plant Automation and Control Upgrades project.

Mayor Kevin Bice opened a public hearing on the proposed notes and the Clerk reported that no written objections had been filed; no residents offered oral objections during the hearing. Following the hearing, Councilmember Brockmeyer introduced Resolution No. 2024-21 to institute proceedings; the resolution was seconded by Councilmember Johnson and adopted on a 5-0 vote.

Council also adopted Resolution No. 2024-22 approving electronic bidding procedures and an official statement for the proposed notes. Both resolutions were presented as preparatory steps that allow the city to move forward with soliciting bids and completing the paperwork needed to issue the notes. The council did not set a precise final principal amount (the resolution capped the authorization at $3.8 million and noted that the dollar amount was subject to change).

The record states the notes are intended to provide funds for potable-water infrastructure and related equipment; the agenda item specifically names Water Plant Automation and Control Upgrades among eligible uses. The transcript does not specify a construction schedule, final contract awards, or an exact issuance date. The public hearing concluded with no objections and the council voted to proceed.

Next steps for the city include completing bidding and financing documents under the approved procedures and returning to the council for any required final approvals tied to actual note issuance and contract awards.