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Gardner Council approves bond package and a 7 MW energy purchase amendment
Summary
Council approved a package of general obligation bonds and temporary notes (series 2026 a/b/c) to finance multiple projects and adopted a resolution authorizing an amendment to secure an additional 7 megawatts of firm power through KMEA and the Grand River Dam Authority, raising firm capacity to 11.5 MW.
Municipal advisor Ben Hart of Baker Tilly presented results of competitive sales for the city's debt issuance: the taxable series 2026‑A ($5,095,000) received competitive bids and priced at about 4.89%, and the tax‑exempt series 2026‑B ($1,005,000) priced near 3.957%; a 24‑month temporary note for $940,000 priced at about 3.413% for the short‑term piece. Hart noted the city's favorable credit rating (reported as AA‑/AA‑) and steady financial policies as positives for the offering.
Separately, staff reported completion of negotiations with the Kansas Municipal Energy Agency and the Grand River Dam Authority to secure an additional 7 megawatts of firm electric capacity and transmission rights, increasing the city's firm capacity to 11.5 MW; council adopted Resolution 2196 to finalize the amendment. Council then adopted the ordinances and resolutions authorizing the bond and note issuances (Ordinances 2886, 2887 and Resolutions 2197–2199) as presented.
