Village Board approves $9.9M bond sale for property financing

The Village of Germantown's Special General Government & Finance Committee made significant strides in financial planning during their recent meeting, focusing on the issuance of bonds to fund upcoming projects. The committee discussed the current state of the bond market, noting a recent stabilization at slightly higher rates than previous weeks. The anticipated rates for the 10-year tax-exempt note are projected between 3.50% and 3.75%, while the taxable 20-year note is expected to be around 5.5%.

A key decision emerged as the committee moved to recommend the issuance of a taxable bond series not to exceed $9,980,000. This funding is crucial for covering costs associated with property purchases, with committee members emphasizing that this option represents the lowest cost available. The discussion also touched on the village's borrowing capacity, with assurances that the current financial standing remains strong.

In a related move, the committee also approved a resolution for a general obligation promissory note series not to exceed $4,165,000. This dual approach to financing aims to minimize taxpayer impact while ensuring the village can effectively manage its debt service obligations.

The committee's actions reflect a proactive stance on fiscal responsibility, with members expressing strong support for the proposed financial strategies. As the recommendations head to the village board, the outcomes are expected to shape Germantown's financial landscape in the coming years, ensuring continued growth and stability.