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Joint Water Resource District calls 2026–2040 maturities of 2020 Series B bonds for Thompson Drain No. 72
Summary
On Dec. 2, 2025 the Grand Forks - Traill Joint Water Resource District unanimously authorized calling the 2026–2040 maturities of the Improvement Bonds of 2020, Series B for Thompson Drain No. 72 and directed the secretary and legal counsel to prepare and execute the notice of redemption.
The Grand Forks - Traill Joint Water Resource District voted unanimously Dec. 2, 2025 to call the 2026–2040 maturities of the Improvement Bonds of 2020, Series B for Thompson Drain No. 72 and to authorize steps needed to pay off outstanding principal and interest. Manager Andy Neset moved the action and Manager Tom Perdue seconded; the motion carried on a roll call vote.
Katie Schmidt, the board’s bond counsel, reviewed the Series B bond maturities for Thompson Drain No. 72 before the motion. The board’s recorded action authorized Secretary-Treasurer Jessica Spaeth and the law firm Ohnstad Twichell to prepare and execute the notice of bond redemption and to take “any other actions necessary for payoff.” The minutes record the motion text as moved by Neset: "to call the 2026-2040 maturities of the Improvement Bonds of 2020, Series B, regarding Thompson Drain No. 72, including payment of all outstanding principal and interest due."
The minutes do not list dollar amounts, a redemption schedule, or an individual vote tally; they state the motion passed unanimously. The district did not include further discussion of financing sources or fiscal impact in the minutes. The action directs staff and counsel to carry out the administrative steps to effect the payoff.
