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Kearney moves to offer certificates of participation to fund city hall renovation, CID waterline, and water tower refinance
Summary
The Board approved Resolution No. 50-2026 to authorize offering certificates of participation to fund three projects; city advisers said refinancing the 2024 water tower lease should save $350,000–$400,000 over the lease life.
City Administrator Sheila Ernzen presented Resolution No. 50-2026, authorizing the offering for sale of refunding and improvement certificates of participation to finance three city priorities: renovation of city hall, construction of a CID waterline, and refinancing the 2024 water tower lease.
Todd Goffoy of Piper Sandler told the Board the expected refinancing of the water tower lease "will save the city $350,000 up to $400,000 over the life of that lease." Goffoy said the sale would likely happen at the end of July or in early August with a closing in mid-August. The Board voted to approve the resolution and staff said a bond ordinance will be brought to the next meeting to continue the financing process.
