City of Sergeant Bluff, IA
NOTICE OF PROPOSED ACTION TO INSTITUTE PROCEEDINGS TO ENTER INTO A LOAN AND DISBURSEMENT AGREEMENT IN A PRINCIPAL AMOUNT NOT TO EXCEED $310,000 (WATER REVENUE)
The City Council of the City of Sergeant Bluff, Iowa, will meet on September 9, 2025, at the City Council Chambers, 501 4th Street, in the City, at 5:30 o’clock p.m., for the purpose of instituting proceedings and taking action to enter into a loan and disbursement agreement (the “Agreement”) and to borrow money thereunder in a principal amount not to exceed $310,000, for the purpose of paying the cost, to that extent, of planning, designing and constructing improvements and extensions to the Municipal Waterworks Utility System (the “Utility”) of the City.
The Agreement will not constitute a general obligation of the City, nor will it be payable in any manner by taxation but, together with the City’s outstanding Water Revenue Bond, SRF Series 2010A, dated January 27, 2010; Water Revenue Bond, SRF Series 2019, dated June 7, 2019; Water Revenue Bond, SRF Series 2020, dated February 7, 2020; and any additional obligations of the City as may be hereafter issued and outstanding from time to time ranking on a parity therewith, will be payable solely and only from the Net Revenues of the Utility.
At the aforementioned time and place, oral or written objections may be filed or made to the proposal to enter into the Agreement. After receiving objections, the City may determine to enter into the Agreement, in which case, the decision will be final unless appealed to the District Court within fifteen (15) days thereafter.
By order of the City Council of the City of Sergeant Bluff, Iowa.
Danny Christoffers
City Clerk
Published in the Sergeant Bluff Advocate weekly newspaper, Thursday, Sept. 4, 2025. The SB-Advocate is the Official Newspaper for the City of Sergeant Bluff and is an Official Woodbury County newspaper. (PN#090425-00206)
