[{"_1":2,"_110":-5,"_111":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,74,86,98],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":68,"_72":56,"_73":56},"mediaId",6266166,"mediaKeyId","3087430-9528478b1f75e5c86aa166e7fdb39d72","parentId",3087430,"title","Village finance staff cites market volatility, reschedules bond sale and estimates higher borrowing costs","audioSeconds",392,"startMs",302000,"endMs",694000,"viewUrl","/Search/View?dp=1&key=3087430-9528478b1f75e5c86aa166e7fdb39d72&start=302&end=694","thumbnailUrl","https://assets.pipeline.soar.com/3087430-9528478b1f75e5c86aa166e7fdb39d72/thumbnail_302000.jpg","articleUrl","/articles/6266166/Cottage-Grove/Dane-County/Wisconsin/Village-finance-staff-cites-market-volatility-reschedules-bond-sale-and-estimates-higher-borrowing-costs","mediaUrl","https://secure.pipeline.soar.com/6266166-12c78a557349aea18939b122b31cab2e/orig.mp4?Expires=1771043343&Signature=f35cqNUas9nU-pWbsaFQea5gvdK5uPSFEcu2krTLtYzUyHZyiH-n3fJA9q96Gu462X-2B15qeo0h14gYgsDbTpPD4pw7ET3qDqyXbOaSFl~YhLByDO5ZtOKml5dIFMmON50KpKYE-irm8Z2iBD4YTZa7~wE5fRXW7OTwh06paBElc~kqn-HB6x~9ByEg0mEPISACnxC4IlcxF09MSXhHdv-GUsG08oMEbEOvsDj4fI3qrGP-d83cOGeqGR~luev~zAAA9MMrOSvIONDx~7YwT1~HPpJaLu0Kd2Y2TvTRj~uiolppHdNPLjMVgttKWxITUoTw5nzt6RZyTlLsYtwj~g__&Key-Pair-Id=KUT5TJCACFTXG","author","","date","2025-04-23T00:52:01.157Z","article","Village finance staff told the Cottage Grove trustees that sharp swings in municipal-market rates prompted them to delay an earlier bond sale and return to the board with a revised authorization.

Staff presented a presale report showing rapid movements in rates during early April that briefly pushed the village’s likely true interest cost above the parameters previously set by the board. The parameters resolution adopted in March had included a not-to-exceed true-interest-cost cap of 3.64 percent; staff proposed rescinding that parameters resolution so the sale could proceed on a set date (May 5) while returning sale results to the board for final acceptance.

Why it matters: higher interest rates increase the village’s long-term debt service cost. Staff compared scenarios in the presale report: a 4.18 percent true-interest-cost scenario (used as a conservative estimate) would increase interest expense by roughly $92,400 over 10 years compared with the March estimate; a scenario nearer 3.9 percent would add roughly $46,200.

Details from the presentation
- Staff used Bloomberg-tracked municipal indices and a 10-year, AAA-rate benchmark to show a rapid escalation in yields that week; staff described day-to-day moves of 30–40 basis points in some stretches.
- Based on available data at the meeting, staff said markets had “stabilized” relative to the earlier volatility but that rates were nevertheless higher than the parameters initially anticipated.
- Staff recommended proceeding with an authorization to sell the same borrowing amount already approved by the board and returning the sale results for a post-sale award decision.

Quote
- Greg (presenting the presale report): “We saw a very rapid escalation in rates in the bond market … we decided we were going to postpone the sale, which I think in hindsight proved to be a good idea.”

Next steps: The sale was scheduled for May 5. Staff will report the sale results and a recommendation to the board after the sale and before any final award of the notes.","mediaType","Video","parentTitle","4/21/2025 Village Board","oneSentenceSummary","Village staff told trustees that recent municipal-market volatility prompted postponement of an April bond sale; the board rescinded earlier parameters and scheduled a new sale May 5, with staff estimating higher potential true-interest costs.","taxTitle","Cottage Grove, Dane County, Wisconsin","taxId",72712,"location","headline","shortSummary",{"_33":75,"_35":36,"_37":38,"_39":76,"_41":77,"_43":78,"_45":79,"_47":80,"_49":81,"_51":82,"_53":83,"_55":56,"_57":58,"_59":84,"_61":62,"_63":64,"_65":85,"_67":68,"_69":70,"_71":68,"_72":56,"_73":56},6266171,"Cottage Grove trustees debate committee assignments; Plan Commission appointments pulled for review",1737,4256000,5993000,"/Search/View?dp=1&key=3087430-9528478b1f75e5c86aa166e7fdb39d72&start=4256&end=5993","https://assets.pipeline.soar.com/3087430-9528478b1f75e5c86aa166e7fdb39d72/thumbnail_4256000.jpg","/articles/6266171/Cottage-Grove/Dane-County/Wisconsin/Cottage-Grove-trustees-debate-committee-assignments-Plan-Commission-appointments-pulled-for-review","https://secure.pipeline.soar.com/6266171-152035475ca706431b428bd0332383e0/orig.mp4?Expires=1771043343&Signature=AV6hR4ZYy3W48el2WE7hZMpzmRSiduYFbwo1~vdkVcJQwCp3MvdKuidFehAPaWRGyL6pq2e85fAVWJysrSrHIlhLy6xM9SXd2aSpLiIW1GfG-QDdeZeuiiHiPM9U4PbMr14JXVghv68huZMeEDkEomdbFgWDihIM58JRhv~KkZMglU1yO03w5bvFlG0kEDSfde0lyWgPvhgQA4V56-ThI5StnCWh91QxcGhyOszSyb9EG9F09Xn-Y1u6~gTRqHNXxmVryjwO9fBmJYMa3tJ3JLvcrm8PTaS3Xa~aF3aX25SkXvWY951kFOfxuYO-i1HZlGOUA3GXuimqpK4laFd1dA__&Key-Pair-Id=KUT5TJCACFTXG","A contentious portion of Cottage Grove’s meeting centered on committee and commission appointments. Several trustees said the slate of appointments presented by the village president left new trustees with limited information about existing membership, term expirations and citizen applications.

After extended discussion, the board approved a subset of committees (including the law-enforcement committee, Cottage Grove Fire District Commission, Deer-Grove EMS Commission and Board of Review) and later approved the remaining presented appointments with Plan Commission appointments removed for additional consideration. Trustees argued for a more even distribution of trustee committee assignments, better prior outreach to incumbent citizen committee members and clearer public posting of application lists.

Why it matters: committee membership sets who reviews specialized topics before recommendations come back to the full board. Trustees said a more balanced distribution of committee assignments would expose more viewpoints and reduce the workload imbalance for individual trustees.

Discussion highlights
- Several newer trustees said they had not received a full roster in time to weigh in, and asked staff for an updated list of committee members, terms and citizen applicants.
- Trustee Paula argued that committees should better reflect community diversity of perspective and recommended preserving long-serving citizen members such as Don Brinkmeyer on the Plan Commission.
- Some trustees raised potential conflict-of-interest concerns about a Plan Commission appointee who also serves on the county board.

Outcomes
- The board approved multiple committee appointments as presented and separately approved a subset of committees after a roll-call vote; Plan Commission appointments were pulled from approval to allow outreach and further consideration.
- The clerk’s office will publish an updated committee list and post approved rosters to the village website.

Quote
- Trustee Renee (last name not specified): “We didn't get a lot of information as to the current committee assignments and who expired which year… I won't vote for the recommendations as presented.”

Next steps: Staff will circulate a complete roster of committee members, terms and pending citizen applications; the Plan Commission appointments will return to a future agenda for confirmation.","Trustees raised concerns about uneven committee workloads and transparency of citizen-applicant outreach; the board approved several commission appointments but withdrew Plan Commission confirmations for further review.",{"_33":87,"_35":36,"_37":38,"_39":88,"_41":89,"_43":90,"_45":91,"_47":92,"_49":93,"_51":94,"_53":95,"_55":56,"_57":58,"_59":96,"_61":62,"_63":64,"_65":97,"_67":68,"_69":70,"_71":68,"_72":56,"_73":56},6266175,"Cottage Grove board to advertise, interview candidates to fill vacant trustee seat; May 19 interviews set",733,1009000,1742000,"/Search/View?dp=1&key=3087430-9528478b1f75e5c86aa166e7fdb39d72&start=1009&end=1742","https://assets.pipeline.soar.com/3087430-9528478b1f75e5c86aa166e7fdb39d72/thumbnail_1009000.jpg","/articles/6266175/Cottage-Grove/Dane-County/Wisconsin/Cottage-Grove-board-to-advertise-interview-candidates-to-fill-vacant-trustee-seat-May-19-interviews-set","https://secure.pipeline.soar.com/6266175-ad519120a5468e7c6cc4ea30519e1eaa/orig.mp4?Expires=1771043343&Signature=ouTAYtZ4g9pWoxgoVp~DVd9feX7rAckXxH9iz1~mQAAnxp7sV05JPvhqw5Z7CC~qUI-HfPYj~m1kCnFare7zSEUvET~ugZzj1dArUj6LskANydIXJloE-6Hy~Ltg13HtbIgVZWaf7FSO09BI6k91z0j6wiBOTPT5Wq49xWYipRPsc5Cnpc4522AJ8h8sg3bWVKiOG1O~ZE0ypKG0j78ayVeD4s8lk0zStruCe2Wi~yg~SSYyawjtLBA1Ox-mQCNUzA2OaaioCvuotcZlGEABBX4TA6jaSI~ED6iiLm~Gq1M3m69CN5FmVy-SNRO049mTQCbQzELdcwXGIHdVI~3jLw__&Key-Pair-Id=KUT5TJCACFTXG","The Cottage Grove Village Board directed staff to advertise and accept applications to fill a recently vacated trustee seat and scheduled candidate interviews for its May 19 meeting.

At the meeting the board discussed three options — hold a special election, appoint a replacement, or leave the seat vacant — and settled on an open appointment process. The board amended an initial motion to both ask President Cindy Kelm Nelson to reach out to former candidate John Williams and to open the process to any interested applicants. Applications will be accepted through the end of day May 14 and an interviews-and-appointment agenda item will be on the May 19 meeting.

Why it matters: The board is currently operating with six members; filling the seventh seat will restore the full membership and change quorum dynamics. Board members debated whether to appoint the top vote‑getter from the recent election or to open the process broadly; the board ultimately chose a compromise that includes both outreach to a prior candidate and a public application process.

What the board decided
- Direction to staff: advertise the open trustee seat, reach out to John Williams to see if he is interested, accept application submissions by May 14, prepare candidate materials for the board packet, and hold interviews and decision at the May 19 meeting.
- Roll-call result: motion carried on a 4–2 vote.

Discussion highlights
- Trustee Chris and others said a special election for a short remaining term would be an unnecessary expense; others preferred giving recent voters’ choices weight by contacting recent candidates.
- Several trustees urged openness and transparency; one amendment explicitly broadened the applicant pool beyond the two most recent candidates.

Quote
- Trustee Heidi Murphy, noting the recent election: “We just had an election 20 days ago. We had somebody running specifically for a trustee seat… to do the same thing and take the person who ran for that role.”

Next steps: The clerk’s office will post application instructions and a due date of May 14, assemble candidate packets for the May 15 board packet and schedule interviews and appointment consideration at the May 19 meeting.","The Village Board directed staff to advertise the vacant trustee seat, reach out to former candidate John Williams, accept applications through May 14 and hold interviews and an appointment decision at the May 19 meeting.",{"_33":99,"_35":36,"_37":38,"_39":100,"_41":101,"_43":102,"_45":103,"_47":104,"_49":105,"_51":106,"_53":107,"_55":56,"_57":58,"_59":108,"_61":62,"_63":64,"_65":109,"_67":68,"_69":70,"_71":68,"_72":56,"_73":56},6266180,"Cottage Grove board approves financing, codes updates and community requests; appointing process set for vacant trustee seat",6302,256000,6558000,"/Search/View?dp=1&key=3087430-9528478b1f75e5c86aa166e7fdb39d72&start=256&end=6558","https://assets.pipeline.soar.com/3087430-9528478b1f75e5c86aa166e7fdb39d72/thumbnail_256000.jpg","/articles/6266180/Cottage-Grove/Dane-County/Wisconsin/Cottage-Grove-board-approves-financing-codes-updates-and-community-requests-appointing-process-set-for-vacant-trustee-seat","https://secure.pipeline.soar.com/6266180-361e3e784b426dfc6be8fb4b391bc820/orig.mp4?Expires=1771043343&Signature=Tiqg4WptH~uXjEhZzs8nCB5k88rvU0WFhda8DFMp4ZBw72GjmPOGm9e4b7R6oz~HjhSO6fbrQqW53CeO1nVyQW5ond~4H~A2ne9IhQyJ5Eu9Bg0loEuWjSjuDZLR430CjmylvoobYtbW4hsoB8S6fGdJoo3OSB3A2rdZUWsCzUkOEJqyKeAoSggfeWYCRVi9rDhpylCQePq0pyJ9BACvt~0d4Ev6KXyJXXAfJ9AesNTkMiBlOyMWZTgpa6875Kabm6cs1K6519fcKjfSqjAy1z3lFDOMWtdoLkUa78ljXN4lW1ygU9XmP3igWTqc1uIgfgT6-a12L7KUqjFYnohhWA__&Key-Pair-Id=KUT5TJCACFTXG","The Village of Cottage Grove Board on an otherwise routine meeting night approved a series of resolutions, an ordinance and administrative actions, and set a process for appointing a replacement trustee.

Board members voted to rescind an earlier parameters resolution and authorized staff to proceed with the previously authorized borrowing for the 2025 capital projects, scheduling the bond sale for May 5. The board adopted ordinance O72025 to add chapters related to building-code administration, approved a sustainability resolution marking Earth Day and pollinator protection, and granted permission for the Fireman’s Festival to place carnival workers on the lot next to the Municipal Services Building. The board also approved a permanent no-parking restriction on the north side of Clark Street from Grove Street West to the village limits after a trial period.

Why it matters: the borrowing authorization allows the village to finance planned capital projects, while the building-code ordinance and sustainability resolution affect regulatory and public-program operations. Committee assignments and the trustee appointment process will shape policy-making and staff oversight in the months ahead.

Key votes and administrative outcomes
- Minutes: The board approved the April 7 meeting minutes (motion to approve as presented; mover: Heidi Murphy; second: Chris [last name not specified]; outcome: approved with one abstention).
- Bond sale: The board approved Resolution 2025-07 authorizing the sale of approximately $3.335 million in general-obligation promissory notes and rescinding the prior parameters resolution; the sale was scheduled for May 5. (Outcome: approved.)
- Building codes: The board adopted Ordinance O72025 amending the village code to incorporate additional building-code chapters and inspection administration. (Outcome: approved.)
- Earth Day / Pollinator Protection: The board approved Resolution 2025-03 recognizing Earth Day activities and pollinator protection measures. (Outcome: approved.)
- Fireman’s Festival: The board approved the Cottage Grove Fire Department’s request to use the lot adjacent to the Municipal Services Building to house carnival workers (June 9–16), with fencing, porta-potties and dumpster arrangements as presented. (Outcome: approved.)
- No-parking restriction: The board approved a permanent no-parking zone on the north side of Clark Street from Grove Street West to the village limits to preserve emergency-vehicle access during large events. (Outcome: approved.)
- Committee appointments: The board approved several committee/commission appointments after debate; the board removed Plan Commission appointments from final approval to allow further review and returned other committee appointments for confirmation. (Outcome: mixed — some committee appointments approved; Plan Commission deferred.)
- Trustee vacancy process: The board directed staff to advertise the vacant trustee seat, to reach out to former candidate John Williams, accept applications and interview candidates at the May 19 meeting; applications were set to be due by end of day May 14. (Outcome: approved.)

What the board discussed but did not finalize
- The board reviewed mission, vision and values language and heard suggestions to condense wording for clarity; no amendment was adopted.
- Utility and capital-project details were reviewed during the presale report; staff explained market volatility and the financial implications for interest expense depending on sale timing and rate movements.

Outlook: The board will reconvene to conduct candidate interviews for the vacant trustee seat on May 19; the bond sale is scheduled for May 5 and staff will report sale results and a recommendation on awarding the notes at a future meeting.

Quotes
- Greg (staff member) summarized market volatility: “We saw a very rapid escalation in rates in the bond market…we decided we were going to postpone the sale,” and added that staff proposed rescinding the earlier parameters resolution so the sale could proceed on a specified date when conditions stabilized.
- Kevin Lofenberg, Fireman’s Festival chair, requested the MSB-adjacent lot for carnival workers and said the carnival would be set up “the same as we did last year” with fencing, porta-potties and a dumpster.

Ending: Several administrative follow-ups were scheduled: staff will advertise the trustee vacancy, publish candidate materials for the May 19 packet, and bring back bond-sale results and committee appointment adjustments as needed.","At its regular meeting, the Village of Cottage Grove Board approved a range of actions including a bond sale authorization, adoption of building-code chapters, event logistics and parking restrictions, and set a process to fill a vacant trustee seat; several committee appointments drew extended debate and some were deferred for further review.","actionData","errors"]

Article not found

Village finance staff cites market volatility, reschedules bond sale and estimates higher borrowing costs

Cottage Grove trustees debate committee assignments; Plan Commission appointments pulled for review

Cottage Grove board to advertise, interview candidates to fill vacant trustee seat; May 19 interviews set

Cottage Grove board approves financing, codes updates and community requests; appointing process set for vacant trustee seat