10-21-26 City Council Special Meeting

The City of Des Moines City Council held a special meeting on October 21, 2026, focused primarily on the sale of its 2026 general obligation bonds to fund previously approved capital improvement program (CIP) projects. Council approved directing the sale of the tax-exempt Series 2026A bonds, for which the city anticipated issuing approximately $56.9 million. The sale drew 13 bids from more than 49 banks; JP Morgan’s syndicate won with a 4.4580% TIC, narrowly ahead of Oppenheimer. The financial advisor described the pricing as strong for the city’s AA+ credit rating.

Council also approved directing the sale of taxable Series 2026B bonds. Four bids representing 37 banks were received, and Northland Securities was selected; the city priced at 5.07%, 12 basis points above the five-year Treasury. Both bond-sale items passed by voice vote. The council also approved an eight-month Class C liquor license for Broken Spoke Bar and Grill; no other procurement decisions were identified.