[{"_1":2,"_87":-5,"_88":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,75],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},"mediaId",6059489,"mediaKeyId","3294882-c0c2859af8abf3850fd984c07d21f5ce","parentId",3294882,"title","Waterloo council adopts FY2026 budget; published levy rate limits changes after public comment","audioSeconds",615,"startMs",517000,"endMs",1132649,"viewUrl","/Search/View?dp=1&key=3294882-c0c2859af8abf3850fd984c07d21f5ce&start=517&end=1132","thumbnailUrl","https://assets.pipeline.soar.com/3294882-c0c2859af8abf3850fd984c07d21f5ce/thumbnail_517000.jpg","articleUrl","/articles/6059489/Waterloo/Black-Hawk-County/Iowa/Waterloo-council-adopts-FY2026-budget-published-levy-rate-limits-changes-after-public-comment","mediaUrl","https://secure.pipeline.soar.com/6059489-e2e8ec59b52504b5abbba92d96cc4b8f/orig.mp4?Expires=1771156812&Signature=ZVEkNAf-ISpnarLvecBHyR2eJpNaAUUI9OV5yczvJVkKdfYC-wsLiog7hwA~YBYzHHZ6t2EIScFPhJoxHK3TfJmkNRmybBGl9xcRrwHBRuJkuv5spA~2z8~je-Q9zyjzMrQ939EPfZP-eehgI4jRFqh5a~yb3VFtsi7JinnltmUeVXCSrPiC48BE-TB2qupo4j8-3j2WNBx5dzgk5lP8JSIDPMA3ySVo8pfXGJ~WGtNaXM3VZtYjzK3mrkF8fXSkYfBZ8dusIVeqk9i6V-Ye3UbILlZFWLD8~dCWpHEw~eeexwgo4rhxjscEt75XHnQfq5pZV2NEeVtzXPHqraWhyg__&Key-Pair-Id=KUT5TJCACFTXG","author","City of Waterloo ","date","2025-04-23T00:00:00Z","article","The Waterloo City Council adopted a resolution approving the fiscal year 2026 budget, including a total property tax asking of $53,630,715, and rescinded an earlier resolution (2025-39) as part of the action.

Council discussion focused on a recent change in how the budget levy is certified. Several council members said state procedures now prevent the city from certifying a levy above the amount published in the legal notice for the budget hearing; as a result the council adjusted its levy back to the amount that was published. One councilmember summarized the procedural constraint as: the city cannot exceed the rate that was published for the public notice.

Members debated whether publishing a higher “not to exceed” maximum in future notices would give staff flexibility to make downward adjustments while preserving public notice about potential increases. Council members and staff also discussed that a large share of the city budget is personnel costs and that some service areas have staffing shortfalls; specific positions and estimated costs were referenced in the discussion but no formal staffing changes were approved as part of the budget vote.

The clerk called roll and recorded affirmative votes from Mr. Boesen, Creighton Smith, Mr. Simon, Mr. Foyce and Mr. Nichols. The council adopted the FY2026 budget as presented to meet statutory filing deadlines; staff were directed to submit the finalized paperwork to the state.","mediaType","Video","parentTitle","City of Waterloo Council Meeting Special Session - April 23, 2025","oneSentenceSummary","The Waterloo City Council adopted the FY2026 budget with a total property tax asking of $53,630,715 and reaffirmed that state rules prevent the council from exceeding the levy rate that was published in the budget notice. Council members debated whether to publish a \"not to exceed\" maximum in future notices to allow downward adjustments.","taxTitle","Waterloo, Black Hawk County, Iowa","taxId",3694,"location","headline","","shortSummary",{"_33":76,"_35":36,"_37":38,"_39":77,"_41":78,"_43":79,"_45":80,"_47":81,"_49":82,"_51":83,"_53":84,"_55":56,"_57":58,"_59":85,"_61":62,"_63":64,"_65":86,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6059492,"Waterloo council accepts bids for $5.315 million and $685,000 general obligation bonds",298,216000,514000,"/Search/View?dp=1&key=3294882-c0c2859af8abf3850fd984c07d21f5ce&start=216&end=514","https://assets.pipeline.soar.com/3294882-c0c2859af8abf3850fd984c07d21f5ce/thumbnail_216000.jpg","/articles/6059492/Waterloo/Black-Hawk-County/Iowa/Waterloo-council-accepts-bids-for-5315-million-and-685000-general-obligation-bonds","https://secure.pipeline.soar.com/6059492-ddd5a2b345a71069c2dae887901b5b88/orig.mp4?Expires=1771156812&Signature=UjZJf0KxFn2pSI6FKVNEgVFAj4d91JGncpvPM4YDERXYBbpuPpsFYA0J8ekMBRu550CkZAqKSaOJSWIYH-SeX5OYKDflQr~KxGmkAVztJw3T9S~7EOkrk0kFrMohDjX2GW02V4UshoKFyR6e6fDjPLKSHT87wpWhQ714cmb26WSdU74XXZZ27Dg3wm8E1DMiza19CBNjkN04B-NYhBfmb1C9iJJsng35d3iYgM~QB~HzTNSWYxOfTHGxoq~tKiyttsUSzKPRRUA-m~eF01zreI93CL6~JZJui-eELxjDLXKxwwqE~56A~tyOS9DVrNkTOqO1z3YKWUcwvjXEuxkaWQ__&Key-Pair-Id=KUT5TJCACFTXG","The Waterloo City Council voted to accept proposals to purchase $5,315,000 of general obligation bonds (Series 2025 C) and $685,000 of taxable general obligation bonds (Series 2025 D) and to approve the form and execution of related note purchase agreements.

Spear Financial presented the bids to the council. ‘‘We are recommending the low interest rate as required by the state of Iowa to Raymond James and Associates of St. Petersburg, Florida at a true interest rate of 3.8493,’’ Maggie Berger of Spear Financial said. Berger reported six bids for the 2025 C issue and five bids for the 2025 D taxable issue and said the market yielded ‘‘a small amount of premium, just about $40,000’’ on the tax-exempt sale.

The council was told Moody’s reaffirmed the city’s rating at Aa2. Berger said the 2025 C debt service schedule extends roughly 12 years and has a call date after June 1, 2032. The taxable 2025 D issue was described as a short-term structure (about six years) and was reported sold to Collier Securities LLC of Minneapolis at a rate of 4.5979; Berger said last year’s comparable taxable rate was 5.3119.

Council members voted on the resolutions by roll call; the clerk recorded affirmative votes from Mr. Boesen, Creighton Smith, Mr. Simon, Mr. Foyce and Mr. Nichols. The motions were adopted, and the council authorized execution of the note purchase agreements in the forms presented.

The city finance office and Spear Financial will proceed with closing steps and execution of the agreements. The resolutions direct acceptance of the proposals and authorize staff to finalize the documents required to complete the financings.","The Waterloo City Council approved resolutions accepting proposals to purchase two general obligation bond issues — $5,315,000 (Series 2025 C) and $685,000 taxable (Series 2025 D) — and authorized execution of related note purchase agreements after a staff presentation on bids and ratings.","actionData","errors"]

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Waterloo council adopts FY2026 budget; published levy rate limits changes after public comment

Waterloo council accepts bids for $5.315 million and $685,000 general obligation bonds