Des Moines County Board of Supervisors Agenda Packet 2026-06-16
County Issues $1.14M Tax-Exempt Note to Danville Bank
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Description
Des Moines County approved a loan agreement with Danville State Savings Bank for a $1,139,000 Tax Exempt General Obligation County Purpose Note, Series 2026A. The one-year note at 6.25% interest will finance county facility upgrades, IT and election equipment, and jail expansion.
Contract Details
Contract Amount
$1,139,000
Vendor
DANVILLE STATE SAVINGS BANK
Agency
Des Moines County, IA
Contract Type
FINANCIAL_SERVICES
Document Date
June 16, 2026
Contract Term
Note dated June 30, 2026 with final maturity June 30, 2027 at 6.25% interest
Renewal Date
2027-06-30
Renewal Info
Single-term general obligation note with final maturity June 30, 2027; county reserves prepayment rights but no renewal options are described.
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