The Belmond City Council last week discussed with Chip Schultz of Northland Securities a funding option that was introduced at a prior meeting stating that this would be a compelling option for funding of both the swimming pool project and 3rd Street Northeast.
With this, the city would proceed with one financing for both projects, therefore reducing bond issuance cost. This also assumes a successful vote of the pool on the November ballot.
This model uses future local option sales tax revenue to assist in keeping the debt service levy at its current rate.
An effort has been underway to construct a new swimming pool in Belmond, and the final section of repairs to 3rd Street Northeast has been in the planning stages from 6th Avenue Northeast to Luick Lane.
No action was taken by the Belmond City Council.
The meeting minutes can be found below:
05-05-2025-regular-meeting-minutes
