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Knoxville City Council approves sale of General Obligation Corporate Purpose Bonds, Series 2026
Summary
In a March 24 special session, the Knoxville City Council approved a resolution authorizing a loan agreement and the sale and issuance of General Obligation Corporate Purpose Bonds, Series 2026, and providing a tax levy to repay them. The motion passed unanimously among members present.
The City Council of Knoxville, Iowa, in a special session on March 24 approved a resolution authorizing a loan agreement and the sale and issuance of General Obligation Corporate Purpose Bonds, Series 2026, and providing for the levy of taxes to pay the bonds. Council Member John Gotta moved the resolution and Council Member Dan Losada seconded; the motion passed unanimously among the members present.
The special session convened at 5:30 p.m. in the Council Chambers of the Knoxville Municipal Building. Mayor Brian Hatch presided. Council Members Dawn Rankin, Dan Losada, John Gotta and Bridget Mohler were present; Council Member Chris Nichols was absent. City Manager Heather Ussery, City Clerk Jodie Wyman, Police Chief Aaron Fuller and Fire Chief Cal Wyman were listed as staff present.
"Motion by Gotta, seconded by Losada, to approve a resolution authorizing and approving a certain loan agreement, providing for the sale and issuance of General Obligation Corporate Purpose Bonds, Series 2026, and providing the levy of taxes to pay the same," the minutes record as the motion that passed. The minutes do not specify the bond principal, interest rate, expected use of proceeds, or repayment schedule.
After completing the bond action, Council Member Dawn Rankin moved to adjourn; Council Member Bridget Mohler seconded. The motion to adjourn passed unanimously and the meeting ended at 5:38 p.m. The minutes are attested by Mayor Brian Hatch and City Clerk Jodie Wyman.
No further detail on the loan agreement or the bonds — including amounts, timeline for sale, or underwriting — is provided in the minutes.
