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Underwood council adopts resolution to pursue general obligation bonds and sets FY2027 budget hearing
Summary
The council adopted Resolution 26-04-01 to take additional action on General Obligation loan agreements for Series 2026 bonds and approved a resolution setting the FY2027 budget hearing for April 21, 2026.
The Underwood City Council voted unanimously to adopt Resolution 26-04-01 taking additional action on proposals to enter into General Obligation loan agreements and to provide for the levy of taxes to pay General Obligation Corporate Purpose Bonds, Series 2026. The resolution passed on a roll-call vote with all five councilmembers recorded as voting yes.
Council also approved a resolution (recorded as 24-04-02 in the minutes) to set the public hearing on the FY2027 budget for April 21 at 6:00 p.m. Both measures passed 5-0.
Earlier in the meeting, the council opened and closed public hearings on a proposed fire station loan agreement and a trail improvements loan agreement; no members of the public offered comment during either hearing. The council’s actions advance the city’s process for identifying financing options for capital projects while scheduling formal public review of the upcoming budget.
Next steps: the budget public hearing is scheduled for April 21, 2026, and staff will proceed with required documentation for the proposed loan agreements.
