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Board approves County 2026A bond structure and advances loan agreements for road and fairground projects
Summary
Supervisors approved a 5-year County 2026A Bond Issue with a three-year callable feature, held public hearings on two loan agreements (up to $4.25M and $750K), and adopted Resolution No. 07-14-26-04 to combine the loans and declare intent to issue General Obligation Urban Renewal Bonds, Series 2026A.
On July 14 the Kossuth County Board of Supervisors approved terms for the County's 2026A Bond Issue (five-year term with a three-year callable feature) and directed Northland Finance to serve as the paying agent. The board then opened and closed two public hearings to institute proceedings to enter into loan agreements: Loan Agreement #1 for a principal amount not to exceed $4,250,000 (for county road, bridge and culvert improvement projects) and Loan Agreement #2 for a principal amount not to exceed $750,000 (for the Kossuth County Fairgrounds Grandstand Project). No objections were made in person or in writing during the hearings.
Following the hearings the board adopted Resolution No. 07-14-26-04 taking additional action to combine the two Urban Renewal Loan Agreements, declare intent to enter into the combined Loan Agreement, and to issue General Obligation Urban Renewal Bonds, Series 2026A. The resolution cites Iowa Code provisions (including Section 331.441 and Chapter 403) and deferred further action to the City Council meeting scheduled for July 21, 2026.
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