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Des Moines board amends bond authorization, appoints UMB Bank and approves related finance documents
Summary
The board approved appointment of UMB Bank, NA as paying agent and other bond-related documents and adopted a resolution amending prior authorization to issue approximately $100 million in general obligation school bonds (series 2026); all votes were unanimous, 6-0.
The Des Moines Public Schools board on July 14 approved a series of finance actions that together advance the district’s planned 2026 bond financing.
Superintendent Smith recommended the board adopt a resolution to appoint UMB Bank, NA of West Des Moines to serve as paying agent, bond registrar, and transfer agent; and to approve associated agreements. The board also placed a form of tax-exemption certificate on file and approved a continuing disclosure certificate. Finally, the board adopted a resolution amending its Feb. 17, 2026 resolution authorizing issuance of approximately $100,000,000 in general obligation school bonds, series 2026, and levying a tax for payment.
Each item was moved and seconded in sequence and approved unanimously, 6-0. The board’s approvals permit staff to continue with the financing process and related administrative steps.
Why it matters: The amended bond authorization and supporting documents are routine steps in preparing to issue general obligation bonds to finance district capital needs. The action authorizes staff to proceed with finance and execution tasks tied to the bond issuance.
What comes next: With board approvals in place, district finance staff will proceed with finalizing agreements and steps necessary to issue the bonds and secure the proceeds for planned capital projects.
