Pella Chronicle

Local News

March 20, 2014

Council approves bonds for indoor pool

Pella — The Pella City Council approved resolutions at its regular meeting Tuesday night in accordance with the issuance of $3.2 million in general obligation bonds. 

The council approved the sale of the bonds to FTN Financial Capital Markets of Memphis, Tenn., at its March 4 meeting. Money will be used to fund improvements at the existing indoor swimming pool facility. 

According to paperwork supplied to the council, the true interest rate of the bonds is 1.52 percent over a nine-year period. The bonds will be repaid at a rate of approximately $400,000 a year through Local Option Sales and Services Tax funds (LOSST). 

Council members congratulated the staff for getting this process done. Earlier in the meeting, the council heard from two representatives of the Pella Swim Team regarding the team's accomplishments this year. They expressed their gratitude for the City's support of the team and for having the facility available to the swimmers. Councilor Bruce Schiebout asked about the condition of the boiler inside the indoor pool facility. It made it through the winter. 

The City's low interest rate was due to its bond rating of AA3. In a separate action later in the meeting, the council approved the most recent audit report.

According to the auditors, as read by City Administrator Mike Nardini, the City of Pella's net assets are worth $105,745,877, or the value of assets after deducting liabilities. Assets of the City's governmental activities exceed liabilities by $44,125,576; business-type activities exceed liabilities by $61,620,301 and revenues for governmental activities exceeded expenses by $2,501,040. 

The City's business-type activities in the last fiscal year saw greater expenses than revenues, to the amount of $2,197,420. This is attributed to higher depreciation charges and decommissioning costs for the power plant. 

By the end of the fiscal year, the City's general fund had an unrestricted fund balance of $2,057,037, or working capital of nearly 42 percent of annual expenditures. The independent audit, required by state law, was done by Van Maanen, Siestra and Meyer, PC. 

Text Only
Local News
  • Seusical 261.JPG Summer Fun for Families: Seussical the Musical

    July 25, 2014 1 Photo

  • 93.jpg Pella Community Calendar of Events

    June 25 - Aug. 2

    July 25, 2014 1 Photo

  • Republicans.jpg Republicans to hold events
    The Marion County Republicans are holding events in Knoxville and Pella Saturday, July 26. 

    July 24, 2014 1 Photo

  • Fawn.jpg Marion County photo contest winners

    Winners of the 2014 Marion County Photo Contest were announced at the Marion County Fair. 

    July 24, 2014 1 Photo

  • Military Retiree Appreciation Day Aug. 28 near Pella A military Retiree Appreciation Day will be held Thursday, Aug. 28 at the Prairie Meadows Race Track and Casino in Altoona, Iowa. Retirees from all branches of the armed forces and their family members are eligible to attend. The event will run from

    July 22, 2014

  • Logo for story Nurses flourish at PRHC with Pathway to Excellence Pella Regional Health Center has again achieved Pathway to Excellence® designation from the American Nurses Credentialing Center. The Pathway to Excellence recognition is earned by health care organizations nationwide that create work environments wh

    July 22, 2014 1 Photo

  • Lake Red Rock Programs for July 25-30 There’s always something happening at Lake Red Rock! Check out these upcoming programs: July 25 - “Thief in the Night” - 7:00 p.m. - Howell Station CampgroundProblem: A critter of the night consistently raises havoc with backyard bird feeders. Action

    July 22, 2014

  • USDA's NRCS wetland compliance listening session set for July 28 USDA’s Natural Resources Conservation Service (NRCS) will host a listening session on Monday, July 28, to seek comments on proposed changes to wetland compliance provisions. The session will be at Ankeny Fire Station #1, 120 NW Ash Drive, from 1 p.m.

    July 22, 2014

  • Pella Runway Rehabilitation Project continues along The Pella City Council, during last week’s meeting, approved a resolution, following a public hearing on the matter, for plans, specifications, form of contract, receiving bids, making award of contract to TK Concrete, and issuing notice to proceed a

    July 22, 2014

  • Photo contest winners named Winners of the 2014 Marion County Photo Contest were announced last week at the Marion County Fair. The annual Contest is sponsored by Marion County Extension & Outreach and the Marion County Development commission (MCDC). This year nearly 300 photos

    July 22, 2014

AP Video
Raw: Massive Dust Storm Covers Phoenix 12-hour Cease-fire in Gaza Fighting Begins Raw: Bolivian Dancers Attempt to Break Record Raw: Israel, Palestine Supporters Rally in US Raw: Palestinians and Israeli Soldiers Clash Raw: Air Algerie Flight 5017 Wreckage Virginia Governor Tours Tornado Aftermath Judge Faces Heat Over Offer to Help Migrant Kids Kerry: No Deal Yet on 7-Day Gaza Truce Kangaroo Goes Missing in Oklahoma More M17 Bodies Return, Sanctions on Russia Grow Gaza Residents Mourn Dead Amid Airstrikes Raw: Deadly Tornado Hits Virginia Campground Ohio State Marching Band Chief Fired After Probe Raw: Big Rig Stuck in Illinois Swamp Cumberbatch Brings 'Penguins' to Comic-Con Raw: Air Algerie Crash Site in Mali Power to Be Restored After Wash. Wildfire Crashed Air Algerie Plane Found in Mali Israel Mulls Ceasefire Amid Gaza Offensive
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide