Fort Dodge’s Sewer Utility Revenue Fund would again be the source of an additional Fort Dodge Fiber loan, according to communication from City Manager David Fierke to the Mayor and City Council.
A public hearing for the proposed borrowing has been scheduled to take place at the next City Council meeting – Monday, May 12th 2026 at 6:00 PM in the Council Chambers at the Fort Dodge Municipal Building. The latest telecom loan request is for up to $3,500,000, although only $2,800,000 is anticipated.
The purpose of the loan is to meet a short-term capital shortage for continued build out of the fiber network. Increased construction costs and construction delays are cited as reasons for the loan. Construction delays were encountered after the initial repayment schedule was finalized.
The boost in capital would allow for continued installations after paying off a portion of the existing debt. If currently capital was used to service the debt, remaining construction and customer installations would be slowed.
In September of 2024, Fort Dodge Fiber borrowed funds from the Sewer Utility Revenue Fund in a similar fashion. The amount of that loan was not to exceed $3,165,000.
In November of 2024, the City began the process of raising sewer rates. At that time, former City Councilman Terry Moehnke expressed his concerns of raising sewer rates after using the funds for internal loans. Moehnke has since expressed his desire to rejoin the Council.
