The Panora City Council approved authorizing a loan agreement to borrow an amount not to exceed $400,000 at their meeting Monday.

The general obligation corporate purpose note will cover the purchase of an ambulance, fire department ladder truck, and air packs. Next, the Council discussed the fiscal year 2021 budget, and set the public hearing date on February 24th for the maximum property tax dollars and levy, per a state law that was passed last year. The City’s proposed levy is about $12.61, not including the debt service levy. This is an increase from last year’s levy at $12.46, due to a loss of $656,842 in the city’s taxable valuation because of the absence of the Brokers International building.