City of Wapello Regular Council Meeting Minutes May 13 2026
City Discusses 7-Year Sewer Loan Terms with Bank
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Description
Wapello officials discussed refinancing an existing sewer-related loan with Washington State Bank into a 7-year balloon structure at 4.8% interest and $1,422.39 monthly payments. No formal council action on the new terms is recorded in these minutes.
Contract Details
Contract Amount
Monthly payment $1,422.39 at 4.8% interest for 7-year term (balloon)
Vendor
WASHINGTON STATE BANK
Agency
City of Columbus, IA
Contract Type
FINANCIAL_SERVICES
Document Date
May 13, 2026
Contract Term
7-year loan with balloon payment; monthly payment $1,422.39 at 4.8% interest
Renewal Info
Existing short-term sewer loan from Washington State Bank comes due in early June; council considering restructuring into a longer-term balloon loan.
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