City of Rock Rapids Council Meeting Agenda April 13 2026
Build America Mutual Insures City’s 2026 GO Notes
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Description
Rock Rapids’ $2,500,000 General Obligation Capital Loan Notes, Series 2026, will be insured by Build America Mutual Assurance Company under a municipal bond insurance policy. The policy guarantees scheduled principal and interest payments and grants BAM certain rights if the City defaults.
Contract Details
Vendor
BUILD AMERICA MUTUAL ASSURANCE COMPANY
Agency
City of Rock Rapids, IA
Contract Type
INSURANCE
Document Date
April 13, 2026
Contract Term
Through final maturity of Series 2026 notes (June 1, 2035) or policy expiration
Renewal Date
2035-06-01
Renewal Info
Bond insurance policy remains in force for the life of the insured Series 2026 notes; no renewals beyond note maturity are described.
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