John Burmeister from PFM presented the results of the bond sale, noting that the City of New Ulm received eight bids from underwriters nationwide. Piper Sandler submitted the winning bid with a true interest cost of 3.0562%. Although this rate was slightly higher than last year’s figure of 2.96%, the decision was made to award the sale at a reduced amount of $4,930,000. This revision resulted in a lower fee from Moody’s Investor Service, saving the city $6,500. The resolution to authorize the issuance and award the sale was passed unanimously by the council after a brief discussion.

The council then affirmed Moody’s A2 bond rating for the city, which reflects New Ulm’s strong economic standing, stable fund balance, balanced budgets, and low debt burden. The city’s economic development efforts and low unemployment rate were recognized as contributing factors. A motion to receive notification of the bond rating was also passed without opposition.

In discussions about the 2026 city budget, the council reviewed and adjusted contributions to various local organizations. The total proposed contributions amounted to $106,450, a figure recommended by councilors and city staff. The council debated the sustainability of funding for building maintenance versus programming support, with some members expressing reluctance to fund building repairs, emphasizing the city’s own maintenance needs. One councilor stated, “We’re not in the business of repairing private entities’ buildings,” indicating a preference for supporting programming and facilities that are free and open to the public. This led to adjustments in contributions, such as rescinding a motion for the New Ulm Business and Retail Association and approving an updated average contribution of $6,667. Contributions to other entities like the historical society and Heart of New Ulm were also adjusted and approved.

Airport improvements were also a key focus of the meeting. The council accepted an Airport Improvement Program (AIP) grant offer for an apron expansion at the New Ulm airport. The project, awarded to Mr. Paving and Excavating, is estimated to cost $996,000, with the majority funded by AIP and AIG grants covering 95% of the expenses, leaving the city responsible for approximately $25,000. Furthermore, a grant from the Infrastructure Investment and Jobs Act (IIJA) was discussed and accepted, representing the other half of the federal funding for the same project. Additionally, the council approved Task Order 2025-02 for engineering services related to the aircraft fueling replacement project, with the associated cost contingent on a grant from the Minnesota Department of Transportation.

The council also approved a contract with SRF Consulting Group to conduct a school zone speed limit study, with the cost slightly under the budgeted amount of $40,000. The study is expected to conclude by late fall, with preliminary readings during the school year.

In a demonstration of community support, the council accepted a $1,000 grant from Walmart for fire prevention week activities. The grant was acknowledged with gratitude, emphasizing the importance of such contributions to local safety initiatives.

The meeting included discussions on a significant grant request for a shooting range, submitted to the Minnesota Department of Natural Resources. The grant would request up to $100,000, with matching funds from the South Valley Gun Club, aimed at replacing the existing trap range building. The council supported the grant application, emphasizing the range’s value for local youth programs.

Further community-centric agenda items included approving permits for various local events, such as a temporary liquor license for the State Street Theater Company and liquor permits for the Herman Monument Society during Hermanfest. The council also approved a lawful gambling premise permit for the New Ulm Hockey Association and a cannabis micro business retailer registration for Green Leafs LLC.