City of Sibley Regular City Council Meeting Agenda 2026-05-26
City amends sewer SRF loan with Iowa Finance Authority
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Description
The City of Sibley plans to approve an amended Loan and Disbursement Agreement with the Iowa Finance Authority to reissue its 2023 Sewer Revenue Capital Loan Note at a reduced principal of $5,909,043.96 after $2 million in loan forgiveness. The action updates the sewer SRF financing terms effective June 12, 2026.
Contract Details
Contract Amount
$5,909,043.96
Vendor
IOWA FINANCE AUTHORITY
Agency
City of Sibley, IA
Contract Type
FINANCIAL_SERVICES
Document Date
May 26, 2026
Contract Term
Reissuance effective June 12, 2026; original Series 2023 note dated June 9, 2023
Renewal Date
2026-06-12
Renewal Info
Reissuance of the 2023 Sewer Revenue Capital Loan Note with $2,000,000 principal reduction; other original resolution terms remain in effect.
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City of Sibley Regular City Council Meeting Agenda 2026-05-26
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