We discuss SU(N) gluo-dynamics at finite temperature and on a spatial circle. We show that the effective action for the Polyakov Loop operator is a one dimensional gauged SU(N) principle chiral model with variables in the loop space and loop algebra of the gauge group. We find that the quantum states can be characterized by a discrete $\theta$-angle which appears with a particular 1-dimensional topological term in the effective action. We present an explicit computation of the partition function and obtain the spectrum of the model, together with its dependence on the discrete theta angle. We also present explicit formulae for 2-point correlators of Polyakov loop operators and an algorithm for computing all N-point correlators.