Lyon County Minutes Board Meeting 2026-05-19
Joint Powers Deal for Rural Water Bonds Approved
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Description
Lyon County approved a Joint Powers Agreement with Lincoln Pipestone Rural Water for the issuance of $9.8 million in general obligation bonds. The bonds will be issued over three years and then sold to USDA for a 40‑year term with all district counties sharing repayment responsibility.
Contract Details
Contract Amount
$9,800,000 (general obligation bonds)
Vendor
LINCOLN PIPESTONE RURAL WATER
Agency
Lyon County, MN
Contract Type
FINANCIAL_SERVICES
Document Date
May 19, 2026
Contract Term
Three-year issuance period followed by 40-year USDA term
Renewal Date
2069-12-31
Renewal Info
Agreement covers a three-year bond issuance period and a 40-year USDA repayment term; no routine renewal anticipated, but future bond issues would require new approvals.
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