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West Bend-Mallard board authorizes $4,615,000 in school infrastructure bonds
Summary
The West Bend-Mallard board unanimously adopted a resolution authorizing $4,615,000 in School Infrastructure Sales, Services and Use Tax Revenue Bonds, Series 2026, under Chapter 423F of the Code of Iowa; the measure was introduced by Board Member Dawn Schmidt and passed 4-0.
The Board of Directors of the West Bend-Mallard Community School District unanimously adopted a resolution authorizing the issuance and securing the payment of $4,615,000 in School Infrastructure Sales, Services and Use Tax Revenue Bonds, Series 2026.
Board Member Dawn Schmidt introduced the resolution, "RESOLUTION AUTHORIZING AND PROVIDING FOR THE TERMS OF ISSUANCE AND SECURING THE PAYMENT OF $4,615,000 SCHOOL INFRASTRUCTURE SALES, SERVICES AND USE TAX REVENUE BONDS, SERIES 2026, OF THE WEST BEND-MALLARD COMMUNITY SCHOOL DISTRICT, STATE OF IOWA, UNDER THE PROVISIONS OF CHAPTER 423F OF THE CODE OF IOWA, AND PROVIDING FOR A METHOD OF PAYMENT OF SAID BONDS," and moved its adoption. Board Member Dave Bruellman seconded the motion. The roll call vote recorded ayes from Chris Montag, Dave Bruellman, Dawn Schmidt and Lisa Traub; nays: none. President John Zaugg declared the resolution adopted.
The resolution ties the bonds to school infrastructure and to revenues authorized under Chapter 423F of the Code of Iowa. The meeting record shows the board completed the action during its 7:30 A.M. session and adjourned at 7:43 A.M. No amendments or conditions to the resolution were recorded in the transcript.
Next steps recorded in the meeting minutes are procedural: execution of the adopted resolution and related closing actions consistent with typical bond issuance processes. The transcript does not specify bond closing dates, underwriters, or additional financing terms.
