Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Finance And Projects topic
No spam. Unsubscribe anytime.
Coralville Council approves multiple financing measures, awards road contract and adopts utility fee changes
Summary
The Coralville City Council adopted several financing resolutions for water and capital projects, awarded the Forevergreen Road Extension Phase 1 contract to Peterson Contractors, Inc., and enacted an ordinance updating water and utility fees.
Coralville’s City Council on June 9 adopted a package of financing and project approvals including water‑system loans, bond sales, a road construction contract and an ordinance updating utility fees.
Mayor Laurie Goodrich opened a public hearing on a proposed Water Revenue Loan Agreement not to exceed $4.5 million for the Well 17 project; there were no public or written comments. The council subsequently adopted Resolution No. 2026‑83 taking additional action on the Water Revenue Loan Agreements and Resolution No. 2026‑84 authorizing a $390,000 Water Revenue Loan and Disbursement Agreement (IFA interim loan note).
Finance Director Ann Hester reported bids for General Obligation Bonds, Series 2026A; Piper Sandler recommended Hills Bank at an interest rate of 4.2 percent, and the council adopted Resolution No. 2026‑86 awarding the sale. The council also adopted Resolution No. 2026‑85 authorizing Taxable General Obligation Urban Renewal Bonds, Series 2026B to support the Recreation Center project.
City Attorney Kevin Olson reported that the Forevergreen Road Extension Phase 1 was bid through the Iowa Department of Transportation; the lowest bidder was Peterson Contractors, Inc. at $2,782,925.86. The council adopted Resolution No. 2026‑87 accepting bids and awarding the contract, subject to IDOT concurrence. Olson said the city had a positive prior relationship with the contractor.
Council considered and adopted Ordinance No. 2026‑1007 amending Chapter 107.03 and 107.04 of the Code of Ordinances to update water rates, solid-waste collection fees, administrative fees for delinquent utility bills and utility account deposits; the ordinance was declared adopted on third and final consideration following roll call.
Other adopted items included a Construction Agreement with the Iowa Firefighters Association for Memorial Wall Expansion 2 (Resolution No. 2026‑88), approval of the 5th Street Social right‑of‑way agreement (Resolution No. 2026‑89), and a resolution increasing the non‑bargaining pay scale by 3.25 percent effective July 1, 2026 (Resolution No. 2026‑90). The council approved the consent calendar of permits, vendor payments and contract items. Where individual roll-call details were not specified in the public record, the meeting summary notes the standard vote convention recorded in the minutes: 3 Ayes and 2 Absent unless otherwise indicated.
The meeting closed with staff and council announcements about community events, library programming and a reminder that local option sales tax collections begin July 1.
