By Sam Parsons

The Pella City Council held a regular meeting last night and formally approved $15.6 million in Local Option Sales and Services Tax (LOSST) Revenue Bonds to help fund the construction of the Pella Indoor Recreation and Aquatics Center.

The council had approved the use of the bonds in their meeting on June 3, and the bonds will be provided by D.A. Davidson Bond Distribution. According to the agreement, the bonds will be paid back over a period of 18 years, payable through December 1, 2043 at an annual rate of 4.54%.

Groundbreaking for the Rec Center Project is set for June 25 at 10am.