Council To Hear Report On City’s Bonding Debt

Sheldon, Iowa — During the Public Forum portion of this Wednesday’s Sheldon City Council meeting, the council will hear an update from Scott Stevenson on the subject of the City of Sheldon’s bonds.  Stevenson, representing the D. A. Davidson company, has been the City’s financial adviser regarding bonding and indebtedness for many years.  He will discuss the impact of the payoff of a large amount of TIF debt earlier this year.  Other comments will include the callability, ability to refinance and expiration of the outstanding bond issues, and will also address the City’s current debt load and bonding capacity.

The Council agenda will also include public hearings on both the proposed gas and electric franchise agreements with MidAmerican Energy.  At their previous meeting, the council voted to move the franchise ordinance to its third reading, with the franchise fees removed.  If the third reading is passed by the council Wednesday, the fees cannot be added back in without going through the entire hearing process again.  The typical franchise agreement is 25 years, but MidAmerican has agreed to a fifteen year term with the possibility of negotiated ‘re-openers’ or ‘outs’ at five and ten years.

The council will also discuss the hiring of Krysten Haan as Emergency Medical Technician/Paramedic Coordinator for the Sheldon Community Ambulance Team.  She has been a member of the SCAT team since 2004,  served as Training Officer from 2012-2015 and became Assistant Director in 2017.  Discussion on Haan’s hiring may require a closed session.

Wednesday’s Council meeting will begin at 4:30 in the upper level of the Sheldon Community Services Center.



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