FINANCIAL_SERVICESPENDING

Yellow Medicine County Board of Commissioners Agenda Packet May 2026

County Weighs Joint Powers Pact for LPRW Bonds

$26,179,000 (general obligation bonds associated with project; second phase bonds $9.8 million)Town of Stony RunLINCOLN PIPESTONE RURAL WATER SYSTEMMay 18, 2026

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Description

Yellow Medicine County is considering a Joint Powers Agreement with the Lincoln Pipestone Rural Water System to support a $43.27 million water infrastructure project backed by $26.18 million in general obligation bonds. The agreement outlines county obligations should LPRW default, with Yellow Medicine County responsible for 16.40% of any unpaid bonds.

Contract Details

Contract Amount

$26,179,000 (general obligation bonds associated with project; second phase bonds $9.8 million)

Vendor

LINCOLN PIPESTONE RURAL WATER SYSTEM

Agency

Town of Stony Run, MN

Contract Type

FINANCIAL_SERVICES

Document Date

May 18, 2026

Contract Term

Project expected to take approximately 3 years beginning October 2025; bonds issued in three phases over 3 years

Renewal Date

2028-10-01

Renewal Info

Bonds are to be issued in three phases over roughly three years; the current JPA covers the second $9.8 million phase but follows terms identical to the 2025 JPA for the first phase except for bond amount.

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