What happened
- Work session called to order at 6:07 p.m. by Acting Mayor Bailey; adjourned 7:51 p.m.
- Sole substantive item: Capital Finance Planning presentation
- George Eilertson of Northland Securities presented an updated financial management plan; his last plan for the city was in 2021
- Update based on Bolton & Menk's 2025 Infrastructure Management Plan
- Presentation covered estimated property taxes for debt service and impacts on utility revenues
- Eilertson reviewed the plan for financing the 2025 street project
- City Engineer Derek Olinger summarized infrastructure management plans and city infrastructure goals
- Mayor Don Kirchmann attended via Zoom; Lee Sjolander absent
- Motion to adjourn by Helgeson, second by Brunner, carried 3-0-0
- No contracts, resolutions or dollar amounts recorded in the minutes
What was asked 6 raised · 1 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.
He also presented information on estimated property taxes for debt service and the impact on utility revenues related to capital spending and debt service and reviewed the plan for financing the 2025 street project.
George Eilertson of Northland Securities reviewed the financing plan for the 2025 street project during the capital finance planning presentation.
The financing was settled by bond sale, reported to the council on August 12 2025. The 2025A general obligation bonds sold at a 4.44% interest rate on a 20-year term, Standard and Poors confirmed an A+ rating, and the city bought bond insurance for $6,300 to lift the box rating and cut the interest rate. The project those bonds fund was awarded to Fitzgerald Excavating at $2,294,629.25 on July 8 2025, after every bid from the first round was rejected on June 10 2025.
8.12.25_Council_Packet__Agenda_Updated; KENYON_BIDS.md · taken up again 2025-08-12
He also presented information on estimated property taxes for debt service and the impact on utility revenues related to capital spending and debt service and reviewed the plan for financing the 2025 street project.
Part of the capital finance planning presentation on the impact of capital spending and debt service.
We hold the policy ceilings and the realized outcome but not the debt service schedule itself. The city's June 2025 debt policy limits net debt obligations to 1.5% of estimated taxable market value, half the 3% ceiling in Minnesota Statutes 475.53, and caps the general obligation debt service levy at 40% of the overall levy. The realized effect landed in pay 2026: the certified city rate rose to 84.6822% from 79.3028% almost entirely on the bond side, where the bond rate rose 35.91% while the general rate fell 0.38%. Splitting the certified rates on those two growth figures puts the 2026 bond portion near 21.3 points of the 84.6822 rate, roughly 25% of the levy and inside the 40% policy cap.
6-10-25_COUNCIL_PACKET_Updated; taxes/levy.html; taxes/data/kenyon_tax.json
He also presented information on estimated property taxes for debt service and the impact on utility revenues related to capital spending and debt service and reviewed the plan for financing the 2025 street project.
Presentation covered how capital spending and debt service would affect utility revenues.
The bond resolution in the July 16 2025 packet shows how the utility side was actually structured: all gross revenues of the sewer, water and storm sewer systems go to the Utility Fund, normal operating expenses come out of it, and the net revenues are pledged to the Utility Account of the Debt Service Fund to pay principal and interest on the utility portion of the bonds. We hold no rate or revenue projection worksheets behind the April presentation. The revenue side was then raised through the sanitary and storm sewer rate increases adopted each year and a five-year electric rate plan approved May 12 2026.
7-16-25_COUNCIL_PACKET; 5-12-26_Council_Packet_Updated
George Eilertson last prepared a financial management plan for the city in 2021. He presented an update of the financial impacts based on Bolton & Menk's 2025 Infrastructure Management Plan. The plan serves as a guide for the management of the city's capital improvement and replacement plans. He also presented information on estimated property taxes for debt service and the impact on utility revenues related to capital spending and debt service and reviewed the plan for financing the 2025 street project. Engineer
Stated as background for why an update to the financial management plan was being presented.
The 2021 date is corroborated twice, in the May 13 2025 minutes and again in the March 10 2026 presentation, which adds that the 2021 plan was built around project cost estimates and sources of funds from Bolton & Menk's 2020 Infrastructure Management Plan. No copy of the 2021 financial management plan is in our holdings. The city's file copy of that plan would settle its assumptions.
5-13-25_council_packet_updated; 3-10-26_Council_Packet_Updated
He presented an update of the financial impacts based on Bolton & Menk's 2025 Infrastructure Management Plan. The plan serves as a guide for the management of the city's capital improvement and replacement plans.
The financial update was built on the engineering firm's infrastructure plan.
The 2025 Infrastructure Management Plan is referenced as real and in use, both in the March 10 2026 presentation and in the November 12 2025 packet, which states that 6th Street reconstruction is identified in the plan as a 2028 project whose financial feasibility is highly dependent on outside funding. We hold no copy of the plan and therefore none of its project list or cost estimates. Bolton & Menk is the city engineer, and also moved the city's mapping to its own ArcGIS Online in 2024 at $14,500 for conversion plus $1,260 a year in licensing.
11-12-25_Council_Packet(1); 3-10-26_Council_Packet_Updated; KENYON_DATA_IN_MEETINGS.md
He presented an update of the financial impacts based on Bolton & Menk's 2025 Infrastructure Management Plan. The plan serves as a guide for the management of the city's capital improvement and replacement plans.
The financial management plan update serves as a guide for managing capital improvement and replacement plans.
No council vote adopting the plan appears anywhere in our holdings. Eleven months later, in the March 10 2026 presentation, the plan is still described in exactly the same terms as a guide for the management of the city's capital improvement and replacement plans, which is how an unadopted document reads. A resolution adopting the financial management plan or a capital improvement plan would settle it.
5-13-25_council_packet_updated; 3-10-26_Council_Packet_Updated
Decisions 1 motions
| Motion | Moved / seconded | Vote |
|---|---|---|
| Adjourn the meeting at 7:51 p.m | Helgeson / Brunner | 3-0-0 |
Who did what
| Person | At this meeting |
|---|---|
| Mary Bailey Acting Mayor | Called the work session to order at 6:07 p.m. and signed the minutes |
| Kim Helgeson Council member | Present; moved to adjourn at 7:51 p.m. |
| Elana Brunner Council member | Present; seconded the motion to adjourn |
| Don Kirchmann Mayor | Attended via Zoom |
| Lee Sjolander Council member | Absent |
| Scott Lehner Administrator | Present at the work session |
| Derek Olinger City Engineer | Summarized the infrastructure management plans and infrastructure goals for the city |
| George Eilertson Northland Securities | Presented an update of the financial impacts based on Bolton & Menk's 2025 Infrastructure Management Plan, including debt service taxes, utility revenue impacts and 2025 street project financing |
| Whitney Kyllo Finance Director | Present at the work session |
| Holli Gudknecht Administrative Assistant | Present; recorded and signed the minutes |
| Randy Eggert Operations Superintendent | Present at the work session |
| Wayne Ehrich Public Works Director | Present at the work session |
Organizations named: Northland Securities, Bolton & Menk, City of Kenyon
Said at the meeting
George Eilertson last prepared a financial management plan for the city in 2021.
Minutes · minutes, verbatim
The plan serves as a guide for the management of the city's capital improvement and replacement plans.
Minutes · minutes, verbatim
Engineer Olinger summarized the infrastructure management plans and infrastructure goals for the city.
Minutes · minutes, verbatim
Full packet text (0k characters)
The minutes
Official minutes as adopted, from 5-13-25 council packet updated; text extracted from the PDF.
Council work session was duly held in the City Council chambers at 6:00 p.m. on the 29th day of April 2025. The meeting was called to order by Acting Mayor Bailey.
- Present
- Kim Helgeson and Elana Brunner
- Via Zoom
- Mayor Don Kirchmann
- Absent
- Lee Sjolander
- Also present
- Administrator Scott Lehner, City Engineer Derek Olinger, George Eilertson of Northland Securities, Finance Director Whitney Kyllo, Administrative Assistant Holli Gudknecht, Operations Superintendent Randy Eggert, and Public Works Director Wayne Ehrich
Acting Mayor Bailey called the Council work session to order at 6:07 pm
Presentation – Capital Finance Planning - George Eilertson, Northland Securities and Derek Olinger,
City Engineer
George Eilertson last prepared a financial management plan for the city in 2021. He presented an update of the financial impacts based on Bolton & Menk's 2025 Infrastructure Management Plan. The plan serves as a guide for the management of the city's capital improvement and replacement plans. He also presented information on estimated property taxes for debt service and the impact on utility revenues related to capital spending and debt service and reviewed the plan for financing the 2025 street project. Engineer Olinger summarized the infrastructure management plans and infrastructure goals for the city.
Motion by Helgeson second by Brunner to adjourn the meeting at 7:51 p.m. Motion carried 3-0-0.
Holli Gudknecht, Administrative Assistant Mary Bailey, Acting Mayor
Pursuant to due call and notice thereof, a City