Resolution No. 13947 - Declare official intent under Treasury Regulation 1.150-2 to issue debt to reimburse the County for certain original expenditures paid in connection with specified projects
WOODBURY COUNTY BOARD OF SUPERVISORS AGENDA ITEM(S) REQUEST FORM
Date: 8-20-2025
Weekly Agenda Date: 8-26-2025
ELECTED OFFICIAL / DEPARTMENT HEAD / CITIZEN: Ryan Ericson - Finance Director
WORDING FOR AGENDA ITEM:
Resolution declaring an official intent to issue debt to reimburse the County for expenditures paid
ACTION REQUIRED: No selection
EXECUTIVE SUMMARY: Notice must be given pursuant to the Iowa Code Chapter 21
BACKGROUND: The County approves CIPs with the intent to issue debt to reimburse any expenditures made prior to the debt issue.
FINANCIAL IMPACT: $1,200,000 of debt will be issued for FY2026 CIPs
If there is a contract involved in the agenda item, has the contract been submitted at least one week prior, and has it been answered with a review by the county attorney's office? No selection
RECOMMENDATION: Introduce and approve the Resolution declaring an official intent to issue debt to reimburse the County for certain original expenditures paid in connection with specified projects
ACTION REQUIRED / PROPOSED MOTION: Introduce and approve the resolution
ITEMS TO INCLUDE ON AGENDA - WOODBURY COUNTY, IOWA
Resolution declaring an official intent under Treasury Regulation 1.150-2 to issue debt to reimburse the County for certain original expenditures paid in connection with specified Projects
Notice must be given pursuant to Iowa Code Chapter 21 and the local rules of the county.
The Board of Supervisors of Woodbury County, State of Iowa, met in open session, in the Board Room, Woodbury County Courthouse, 620 Douglas Street, Sioux City, Iowa, at 4:30 P.M., on the above date. There were present Chairperson Bittinger, in the chair, and the following named Board Members:
Carper, Dietrich, Ung
Absent: Nelson
Board Member Dietrich introduced the following Resolution entitled
"Resolution declaring an official intent under treasury regulation 1.150-2 to issue debt to reimburse the county for certain original expenditures paid in connection with specified projects," and moved that it be adopted. Board Member Carper seconded the motion to adopt, and the roll being called thereon, the vote was as follows:
A YES: Bittinger, Carper, Dietrich, Ung
Whereupon, the Chairperson declared the Resolution duly adopted as follows:
RESOLUTION DECLARING AN OFFICIAL INTENT UNDER TREASURY REGULATION 1.150-2 TO ISSUE DEBT TO REIMBURSE THE COUNTY FOR CERTAIN ORIGINAL EXPENDITURES PAID IN CONNECTION WITH SPECIFIED PROJECTS
WHEREAS, the County anticipates making cash expenditures for one or more capital improvement projects, generally described below ( each of which shall hereinafter be referred to as a "Project"); and
WHEREAS, the County reasonably expects to issue debt to reimburse the costs of a Project; and
WHEREAS, the Board believes it is consistent with the County's budgetary and financial circumstances to issue this declaration of official intent.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF WOODBURY COUNTY, STATE OF IOWA:
Section 1. That this Resolution be and does hereby serve as a declaration of official intent under Treasury Regulation 1.150-2.
Section 2. It is reasonably expected that capital expenditures will be made in respect of the following Project(s), from time to time and in such amounts as this Board determines to be necessary or desirable under the circumstances then and there existing.
Section 3. The County reasonably expects to reimburse all or a portion of the following expenditures with the proceeds of bonds, notes, or other indebtedness to be issued or incurred by the County in the future.
Section 4. That the total estimated costs of the Project(s), the maximum principal amount of the bonds, notes, or other indebtedness to be issued for the foregoing Project(s), and the estimated dates of completion of the Project(s) are reasonably expected to be as follows
| Project Name | Fund From Which Original Expenditures Are To Be Advanced | Total Estimated Cost | Amount of Borrowing Anticipated | Estimated Date Of Completion |
|---|---|---|---|---|
| LEC Demo | General | 600,000 | 600,000 | June 2026 |
| Dorothy Pecaut Center Foundation | General | 32,000 | 32,000 | June 2026 |
| Little Sioux Park Road | General | 235,700 | 235,700 | August 2025 |
| EMS Main Front Replacement | General | 46,500 | 46,500 | August 2025 |
| Security Utility/Key | General | 40,000 | 40,000 | January 2026 |
| County PCs FY26 | General | 40,000 | 40,000 | January 2026 |
| Fiberoptics | General | 25,000 | 25,000 | January 2026 |
| Fiber testing and tools | General | 25,000 | 25,000 | January 2026 |
| GIS Dashboard | General | 25,000 | 25,000 | January 2026 |
| Switch Cleanup | General | 25,000 | 25,000 | January 2026 |
| Loan Note Fees | General | 18,000 | 18,000 | June 2026 |
Section 5. The County reasonably expects to reimburse the above-mentioned Project costs not later than the later of eighteen months after the capital expenditures are paid or eighteen months after the property is placed in service, but in no event more than three (3) years after the original expenditure is paid.
Section 6. That this Resolution be maintained by the County Auditor in an Official Intent File maintained in the office of the Auditor and available at all times for public inspection, subject to such revisions as may be necessary.
PASSED AND APPROVED this 26th day of August 2025.
Daniel A. Bittinger II, Chairperson
ATTEST:
Michelle K. Staff
Woodbury County Auditor/Deputy
CERTIFICATE
STATE OF IOWA - COUNTY OF WOODBURY
I, the undersigned County Auditor of Woodbury County, State offowa, do hereby certify that attached is a true and complete copy of the portion of the records of the County showing proceedings of the Board, and the same is a true and complete copy of the action taken by the Board with respect to the matter at the meeting held on the date indicated in the attachment, which proceedings remain in full force and effect, and have not been amended or rescinded in any way; that meeting and all action thereat was duly and publicly held in accordance with a notice of meeting and tentative agenda, a copy of which was timely served on each member of the Board and posted on a bulletin board or other prominent place easily accessible to the public and clearly designated for that purpose at the principal office of the Board pursuant to the local rules of the Board and the provisions of Chapter 21, Code oflowa, upon reasonable advance notice to the public and media at least twenty-four hours prior to the commencement of the meeting as required by law and with members of the public present in attendance; I further certify that the individuals named therein were on the date thereof duly and lawfully possessed of their respective County offices as indicated therein, that no Board vacancy existed except as may be stated in the proceedings, and that no controversy or litigation is pending, prayed or threatened involving the incorporation, organization, existence or boundaries of the County or the right of the individuals named therein as officers to their respective positions.
WITNESS my hand and the seal of the Board hereto affixed this 26th day of August 2025.
County Auditor, Woodbury County, State of Iowa