Kenyon/City Hall/Meetings/July 16, 2025
Regular meeting

Kenyon City Council, July 16, 2025

The Kenyon City Council held a special session at 5:06 p.m. on July 16, 2025, to review the results of the city's 2025A general obligation bond sale and to arrange interim accounting help.

3motions
3 unanimousno split votes
5present, absent: Lee Sjolander
1resolutions
$6,300largest figure
Yesrecording posted

Watch the meeting

Meeting video, from the city's YouTube channel · open on YouTube
bonds street improvements utilities credit rating accounting services budget special meeting

What happened

  1. Special council meeting called to order at 5:06 p.m.; adjourned 5:34 p.m.
  2. Standard and Poors confirmed the City's "A+" credit rating as part of the bond sale.
  3. Bond insurance purchased for $6,300, yielding a higher rating and lower interest rate.
  4. Bonds sold at a 4.44% interest rate with a 20-year term.
  5. Resolution 2025-22 awarding the sale of GO Bonds, Series 2025A adopted 4-0-0.
  6. Packet resolution set the issue at $3,205,000 aggregate principal.
  7. Improvements Portion of $1,355,000 for assessable street improvements under Chapter 429.
  8. Utility Portion of $1,850,000 for sewer, water and storm sewer improvements under Chapter 444.
  9. Contract with Abdo for accounting services approved 4-0-0, to cover budget work and KMU/City account consolidation until the finance position is filled.
  10. Councilmember Lee Sjolander absent; Engineer Derek Olinger also present.

What was asked 7 raised · 3 settled

Every question, assignment, pending figure and unsourced claim from this meeting, quoted from the record, each checked against the county, census, listing, bid and budget data we hold.

1 answered from our records2 what happened next2 partly answered2 we hold no data
To look upfrom the minutes
Abdo Proposal for Accounting Services Administrator Lehner reviewed the scope of services and the cost for Abdo to assist the city with the budget process, consolidation of the KMU and City accounts, and other general accounting tasks until the finance position is filled.

Lehner reviewed the scope of services and the cost for Abdo, but the amount was not stated in the record.

Answered from our records

The engagement rate at the September 2025 start was $92,100 a year, or $7,675 a month. That rate has since risen 31% to the $109,000 Financial Solutions fee proposed for 2027.

9-8-26 Council Packet, KENYON_BIDS.md

PendingCity Administrator Scott Lehnerfrom the minutes
Abdo Proposal for Accounting Services Administrator Lehner reviewed the scope of services and the cost for Abdo to assist the city with the budget process, consolidation of the KMU and City accounts, and other general accounting tasks until the finance position is filled.

Council approved the Abdo contract as an interim measure while the finance position remains vacant.

At the meetingCouncil approved the contract with Abdo 4-0-0.

What happened next

The finance position was never filled and the interim arrangement became permanent. On September 8 2026 Abdo put a three-year escalating schedule in front of the council at $109,000 for 2027, $114,500 for 2028 and $121,000 for 2029, alongside a memo comparing itself with a full-time finance director at $167,100. Abdo's 2027 total proposal is $164,800 including $30,000 HR and $25,800 payroll.

The contract was approved as interim until the finance position was filled, yet fourteen months later Abdo proposed a three-year schedule running through 2029 and the position remains unfilled.

9-8-26 Council Packet; KENYON_BIDS.md · taken up again 2026-09-08

Action itemCity Administrator Scott Lehnerfrom the minutes
Abdo Proposal for Accounting Services Administrator Lehner reviewed the scope of services and the cost for Abdo to assist the city with the budget process, consolidation of the KMU and City accounts, and other general accounting tasks until the finance position is filled.

Lehner reviewed the scope of services and cost before the council approved the contract.

At the meetingMotion by Kirchmann seconded by Helgeson to approve the contract with Abdo carried 4-0-0.

What happened next

The scope was approved 4-0-0 on July 16 2025 and then extended rather than closed out. The August 12 2025 finance and accounting services RFP went to Abdo as a continuation, a separate payroll contract was approved the same night, and by September 8 2026 the engagement had grown to Financial Solutions $109,000 plus HR $30,000 plus payroll $25,800. Abdo also charged a one-time $15,000 to reconcile January through July 2025 records.

KENYON_BIDS.md; 9-8-26 Council Packet · taken up again 2026-09-08

Unsourced claimGeorge Eilertson, Northland Securitiesfrom the minutes
As part of the bond sale, Standard and Poors reviewed the City financial standing and confirmed the A+ rating. The bonds sold at a 4.44% interest rate and a 20-year term.

Eilertson reviewed the results of the bond sale funding the 2025 street utility improvement project.

Partly answered

The 4.44% rate and 20-year term are repeated in the August 12 2025 packet, but we hold no bid tabulation or debt service schedule. What we do hold is the effect on taxpayers: the certified city tax rate rose from 79.3028% to 84.6822% of net tax capacity for pay 2026, and that rise came almost entirely from the bond levy, whose rate rose 35.91% while the general rate fell 0.38%.

taxes/levy.html, county auditor rate document; 8.12.25 Council Packet

To look up

The adjournment motion is recorded as carrying 5-0-0 although only four council members were present with Sjolander absent.

Partly answered

The attendance record confirms the problem. The July 16 2025 special meeting seated Mayor Kirchmann and council members Brunner, Helgeson and Bailey, with Sjolander absent, so four votes were available and a 5-0-0 tally cannot be correct. A corrected minutes set or the clerk's roll call sheet for that meeting is what is missing.

The minutes record a 5-0-0 vote at a meeting the same minutes show only four council members attended.

8.12.25 Council Packet, July 16 2025 special meeting minutes

Unsourced claimGeorge Eilertson, Northland Securitiesfrom the minutes
George Eilertson, Northland Securities – Review Bond Sale Results George Eilertson summarized the bond process to fund the 2025 street utility improvement project. It was noted that the City received a "A+" rating.

Part of the summary of the bond process for the 2025 street utility improvement project.

We hold no data

We hold no Standard and Poor's rating report for the City of Kenyon 2025A issue. The only record of the A+ rating in our data is the council minutes restating it in the August 12 2025 packet. The rating letter itself from Standard and Poor's would settle it.

8.12.25 Council Packet · would settle it: The Standard and Poor's rating report for the City of Kenyon 2025A issue

Unsourced claimGeorge Eilertson, Northland Securitiesfrom the minutes
It was noted that the City received a "A+" rating. Plus the insurance was purchased for $6,300 which gave us a higher box rating and a lower interest rate.

Explanation of how the bond sale terms were improved.

We hold no data

We hold no bond insurance invoice and no insured versus uninsured bid comparison for the 2025A issue. The $6,300 premium appears only as Eilertson's statement, repeated in the August 12 2025 packet. The Northland bid tabulation showing both sets of bids would settle whether the premium paid for itself.

8.12.25 Council Packet · would settle it: The bond insurance invoice/commitment and a comparison of insured vs. uninsured bids

Decisions 3 motions

Who did what

PersonAt this meeting
Don Kirchmann
Mayor
Called the special meeting to order at 5:06 pm and moved approval of the Abdo contract
Kim Helgeson
Council member
Moved adoption of Resolution 2025-22, seconded the Abdo contract, and moved to adjourn
Mary Bailey
Council member
Seconded the motion adopting Resolution 2025-22 and the motion to adjourn
Elana Brunner
Council member
Present and voted on both motions
Lee Sjolander
Council member
Absent
Scott Lehner
City Administrator
Reviewed the scope of services and cost for Abdo's accounting assistance
Holli Gudknecht
Administrative Assistant / Deputy City Clerk
Prepared the agenda items and signed the minutes
George Eilertson
Northland Securities
Summarized the bond process and reviewed the 2025A G.O. bond sale results
Derek Olinger
Engineer
Attended the special meeting

Organizations named: Northland Securities, Inc., Standard and Poors, Abdo, Kenyon Municipal Utilities (KMU), Blue Rose Capital Advisors, Kennedy & Graven, Chartered, Northland Bond Services, a division of First National Bank of Omaha, Goodhue County

Figures

AmountWhat
$6,300cost of bond insurance purchased, which gave a higher box rating and lower interest rate
$3,205,000aggregate principal amount of General Obligation Bonds, Series 2025A
$1,355,000Improvements Portion of the bonds, financing assessable public street improvements
$1,850,000Utility Portion of the bonds, financing sewer, water and storm sewer system improvements
$5,000denomination of the bonds (or any integral multiple thereof)

Said at the meeting

It was noted that the City received a "A+" rating.

Meeting minutes · minutes, verbatim

The bonds sold at a 4.44% interest rate and a 20-year term.

Meeting minutes · minutes, verbatim

Administrator Lehner reviewed the scope of services and the cost for Abdo to assist the city with the budget process, consolidation of the KMU and City accounts, and other general accounting tasks until the finance position is filled.

Meeting minutes (on Scott Lehner's report) · packet, verbatim

The Council hereby determines that the Improvement Portion and the Utility Portion shall be issued together in a single series in the aggregate principal amount of $3,205,000 (the "Bonds").

Resolution No. 2025-22 · packet, verbatim

Resolutions and ordinances

  • Awarding the Sale of General Obligation Bonds Series 2025A Motion by Helgeson seconded by Bailey to adopt Resolution 2025-22 Awarding the SalRes. 2025-22

Agenda

Each item links to where it appears in the packet.

  1. I. Call to Order
  2. II. Agenda
  3. II.A Agenda for July 16, 2025
  4. III. Business to be discussed and Possible Action
  5. III.A George Eilertson, Northland Securities – Review Bond Sale Results
  6. III.B Resolution 2025-22 Awarding the Sale of General Obligation Bonds Series 2025A
  7. III.C Abdo Proposal for Accounting Services
  8. IV. Adjourn

Full packet text (113k characters)

The minutes

Official minutes as adopted, from 8.12.25 Council Packet Agenda Updated; text extracted from the PDF.

Council meeting was duly held in the City Council chambers at 5:00 p.m. on the 16th day of July 2025. The following were present: Mayor Don Kirchmann, Council members, Elana Brunner, Kim Helgeson, and Mary Bailey.

Absent
Lee Sjolander
Also present
City Administrator Scott Lehner, Administrative Assistant Holli Gudknecht, George Eilertson of Northland Securities, Engineer Derek Olinger

Mayor Kirchmann called the special meeting to order at 5:06 pm.

George Eilertson, Northland Securities – Review Bond Sale Results

George Eilertson summarized the bond process to fund the 2025 street utility improvement project. It was noted that the City received a "A+" rating. Plus the insurance was purchased for $6,300 which gave us a higher box rating and a lower interest rate. Eilertson reviewed the results of the 2025A G.O. Bond sale. As part of the bond sale, Standard and Poors reviewed the City financial standing and confirmed the A+ rating. The bonds sold at a 4.44% interest rate and a 20-year term.

Resolution 2025-22 Awarding the Sale of General Obligation Bonds Series 2025A
Motion

Motion by Helgeson seconded by Bailey to adopt Resolution 2025-22 Awarding the Sale of General Obligation Bonds Series 2025A. Motion carried 4-0-0.

Abdo Proposal for Accounting Services

Administrator Lehner reviewed the scope of services and the cost for Abdo to assist the city with the budget process, consolidation of the KMU and City accounts, and other general accounting tasks until the finance position is filled.

Motion

Motion by Kirchmann seconded by Helgeson to approve the contract with Abdo for contracted services.

Motion carried 4-0-0
Motion

Motion by Helgeson second by Bailey to adjourn the special Council meeting at 5:34 pm.

Motion Carried 5-0-0
Holli Gudknecht, Deputy City Clerk Donald Kirchmann, Mayor