KIESTER CITY COUNCIL SPECIAL MEETING MINUTES
Thursday May 29, 2025
THESE ARE APPROVED BY THE COUNCIL
The Kiester City council held a special meeting on Thursday May 29, 2025, at the Kiester Community Center.
Mayor Hope Bauman called the meeting to order at 7:00 pm. Council Members Present: Brandon Hagenson, Jason Kluender. Kurt Grobe. City Clerk: Doris Troll; Members of the public: Jessica Green from Northland Securities
Agenda: Motion to accept agenda, by Kurt Grobe, seconded by Jason Kluender, vote 4-0 motion carried.
Northland Securities:
Jessica presented and explained what the disseminations agent agreement was to the council and the council felt that yes we should enter into this as Northland will take care of all the paperwork to make sure all the reporting is done correctly and on time. Motion to accept agreement by Brandon Hagenson seconded by Jason Kluender
Vote 4-0, motion carried.
Jessica then presented the PFA credit enhancement agreement to the council, this agreement is for the guarantee of the payments on the bonds by the Minnesota Public Facilities Authority and will give the city a better credit rating for the sale of bonds Motion to accept agreement by Kurt Grobe seconded by Hope Bauman, vote 4-0, motion carried.
Jessica then explained what the seconded bond amount would be for $ 5,795,000.00 and what the rate would be today if they sold the bonds, she is hoping the interest rate will come down from the 4% that it is currently at.
Motion to purchase a Temporary Utility Revenue Bond was made by Brandon Hagenson Seconded by Hope Bauman, Vote 4-0, motion carried.
Adjournment: Motion By Jason Kluender seconded by Hope Bauman. Vote 4-0, motion carried.
Respectfully Submitted by
Doris M Troll
City Clerk/ Treasurer
