Ottumwa City Council Minutes 2026-06-02
Nicolet Bank Named in AV Ottumwa Collateral Deal
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Description
Through Resolution No. 128-2026, the council approved Nicolet National Bank's role in a collateral assignment of the AV Ottumwa development agreement, with the bank holding land as collateral if project milestones are not met. The City will disburse payments only as quarterly benchmarks are achieved.
Contract Details
Vendor
NICOLET NATIONAL BANK
Agency
City of Ottumwa, IA
Contract Type
FINANCIAL_SERVICES
Document Date
June 2, 2026
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