Elko New Market City Council — Transcript
Sunday, August 30, 2026
Private Well Water Testing Program Proposal
Dream Green Cannabis Club Update
Sale of General Obligation Bonds
Law Enforcement Staffing and E-moto Incidents
Fire Department Pension Agreement
Scott County Co-responder Program
Legislative Session & School Funding Discussions
Northwest Suburbs Group Home Discussions
Votes (1)
Awarding the Sale of Bonds for Land Acquisition, Well Number 5 Improvements, and Water Treatment Plant Modifications
Dissent: None
Moved by Council Member [0:00] · Seconded by Council Member [0:00]
The discussion centered on the successful sale of bonds to fund key infrastructure projects, including land for a future municipal campus, construction of Well Number 5, and upgrades to the water treatment plant. The city achieved a favorable true interest cost of 3.7755% from the lowest bidder, Piper Sandler & Co. Baird, which was better than estimated, indicating a strong market interest in the city's debt. A premium of $131,000 was also part of the offering, contributing to lower future debt service.
Notable Quotes (2)
we issued or went to market today um for the sale of bonds um for the land acquisition for the approximately 4 acres north of city hall to basically round out the land acquisitions for our future municipal campus. um for the construction of well number five and the water treatment plant modifications
we are recommending awarding the sale of the bonds to Piper Sandler & Co. Baird, Milwaukee, Wisconsin. Uh they were the lowest of five biders with a true interest cost for the bond at 3.7755%. That's approximately 22 points below what was estimated.
Ordinances & Resolutions (1)
Authorizing issuance, awarding sale, prescribing the form and details, and providing for the payment of $2.145 million in general obligation bonds series 2026A.