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Council approves up to $16.47 million in general obligation notes to fund 2025 capital plan
Summary
The Fond du Lac City Council unanimously adopted a parameters resolution authorizing up to $16,470,000 in general obligation promissory notes to finance the 2025 capital improvement program, with an estimated interest rate of about 4% and a closing targeted for Oct. 1, 2025.
The Fond du Lac City Council on Wednesday adopted a parameters resolution authorizing the sale of not-to-exceed $16,470,000 in general obligation promissory notes to fund the city’s 2025 capital improvement projects. The council voted unanimously on the measure after a presentation from the city’s finance advisers.
The financing will be structured as a general obligation promissory note series 2025, with principal maturities running from March 1, 2026, through Feb. 1, 2035. Justin Fisher, managing director at Baird, told the council the estimated…
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