City of Nowthen · Borrowed in 2025
G.O. Improvement and Equipment Bonds, Series 2025A
Still being repaidSource checked
The terms
From the audited financial statements' long-term-debt notes. See the source page
Amount borrowed
$1,250,000
Interest rate
4.00-5.00%
True interest cost 2.96%, from the November 18, 2025 council minutes
Issued
December 10, 2025
Final payment due
Feb. 1, 2036
Still owed
$1,250,000
as of Wednesday, December 31, 2025
What will this cost altogether?
The total repayment is the principal plus the scheduled interest. The city's audited statements print scheduled interest for all of its bonds together, not issue by issue, so this page does not compute a total for the 2025A bonds. The rate is a range, 4.00-5.00%, that differs by maturity year, so no single rate gives the interest either.
How much remains?
About 0% of the principal was repaid by the end of 2025. $1,250,000 of the $1,250,000 borrowed was still owed, with the final payment due in 2036.
Principal only, from the audited year-end balances in the table below. Interest is not included.
Part or all of these bonds paid for equipment. The Fleet Funder compares saving for replacements with borrowing for them, machine by machine.
What the money paid for
- Street / road projectsource p.127
Source description: 2024 Street Projects — Waco Street, Waco Drive, 182nd Lane & Ventre Street
- Street / road projectsource p.128
Source description: 2025 Street Projects — Krypton Street, Lithium Street, 189th Lane, 194th Lane, and Tiger Street
- Fire truck / pumpersource p.132
Source description: Commercial four-door rear mount pumper
“items include a commercial four-door rear mount pumper and a Tool Cat”
- Tool Catsource p.132
“items include a commercial four-door rear mount pumper and a Tool Cat”
How the repayment is going
Principal still owed at each year-end, from the audits. Where the audit does not print the year's payment, the amount paid down is the drop in the balance from the year before.
| Year-end | Still owed | Paid down that year | Source |
|---|---|---|---|
| 2025 | $1,250,000 | p.118 |
In the council record
Council motions that mention these bonds, ai-extracted from meeting records. Follow the links to check each one.
“MOTION BY COUNCIL MEMBER RAINVILLE, SECONDED BY MAYOR HYBBEN, TO APPROVE RESOLUTION 2025-104 AWARDING THE SALE OF GENERAL OBLIGATION BOND SERIES 2025A IN THE ORIGINAL AGGREGATE PRINCIPAL AMOUNT OF $1,250,000, FIXING THEIR FORMS AND SPECIFICATIONS, DIRECTING TH…”
Passed · 4 AYES - COUNCIL MEMBER RAINVILLE, MAYOR HYBBEN, COUNCIL MEMBER BREYEN, COUNCIL MEMBER SWENSON. 1 NAY- COUNCIL MEMBER GLASER. MOTION CARRIED. · moved by Council Member Rainville, seconded by Mayor HybbenTuesday, November 18, 2025 · City Council Meeting
“MOTION BY COUNCIL MEMBER RAINVILLE, SECONDED BY MAYOR HYBBEN TO APPROVE A RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE OF GENERAL OBLIGATION BONDS SERIES 2025A IN THE PROPOSED AGGREGATE PRINCIPAL AMOUNT OF $1,460,000 WHICH IS SUBJECT TO CHANGE.”
Passed · Via roll call vote, 5 ayes. Motion carried. · moved by Council Member Rainville, seconded by Mayor HybbenTuesday, October 14, 2025 · City Council Meeting
Read every discussion of these bonds in search.