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Adams County supervisors approve resolution to accept proposal for $5M general obligation loan notes
Summary
The Adams County Board of Supervisors voted July 31 to approve Resolution No. 2026-37 to accept a proposal from D.A. Davidson & Co. to purchase up to $5,000,000 (amount subject to change) in General Obligation Capital Loan Notes, authorizing the chair and county auditor to negotiate and execute the loan agreement.
The Adams County Board of Supervisors on July 31 approved Resolution No. 2026-37 directing acceptance of a proposal from D.A. Davidson & Co. to purchase $5,000,000 in General Obligation Capital Loan Notes, Series 2026; the resolution notes that the dollar amount is "subject to change." The board took the action during its 9:00 AM meeting in Adams County.
Supervisor Bobbi Maynes moved, seconded by Tony Hardisty, to take Resolution 2026-37 off the table before formal consideration. After the resolution text and statutory citations were read, Supervisor Scott Akin moved, seconded by Tony Hardisty, to approve the resolution. A roll-call vote recorded ayes from Akin, Maynes, Hardisty, Shipley and Chairperson Chris Standley; there were no nays and the motion carried. The minutes state the original resolution is on file in the Adams County Auditor’s office.
The text of the resolution cites Sections 331.402, 331.443 and 403.12 of the Code of Iowa as authorization for the county to enter a loan agreement and to borrow the stated amount. Section 2 of the resolution authorizes the Chairperson and County Auditor to proceed on behalf of the county to enter into the loan agreement, negotiate final terms acceptable to the purchaser and take necessary actions to meet the conditions of the accepted proposal.
The board adjourned at 9:14 AM. The resolution identifies D.A. Davidson & Co. of Des Moines as the proposer for the notes and explicitly records the $5,000,000 figure as "Dollar Amount Subject to Change," leaving final pricing and the precise principal amount to subsequent negotiation and documentation.
