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Board approves bond purchase agreement to back road and fairgrounds projects
Summary
The board approved Resolution No. 08-04-26-02 authorizing a bond purchase agreement for General Obligation Urban Renewal Bonds, Series 2026A, covering road, bridge and culvert improvements and a fairgrounds grandstand project; the board adjourned further action to Aug. 11, 2026.
Kossuth County supervisors voted unanimously on Aug. 4 to approve Resolution No. 08-04-26-02, authorizing the county to enter a bond purchase agreement to facilitate sale of General Obligation Urban Renewal Bonds, Series 2026A. The resolution describes two loan agreements: one not to exceed $4,250,000 for road, bridge and culvert improvement projects and a second not to exceed $750,000 for a fairgrounds grandstand project; the county combined those agreements into a single loan agreement to support issuance.
"Motion by Haas and 2nd by Stecker to approve Resolution #08-04-26-02," the record shows. The resolution authorizes the chair and county auditor to execute the bond purchase agreement and directs that further action on issuance and loan agreement approval be adjourned to the board’s Aug. 11, 2026 meeting. The county has prepared a Preliminary Official Statement and named Northland Securities, Inc. as the underwriter to facilitate sale of the bonds.
Why it matters: the bonds would provide local financing for transportation infrastructure and a fairgrounds facility; combining the loan agreements streamlines the sale under state code cited in the resolution. The board approved the resolution by roll-call vote; staff will return with further bond-issuance steps at the next meeting.
