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Onalaska board narrows 2026 capital plan; staff to pursue mortgage-revenue bond for clustered utility projects
Summary
After presentations and department priorities, the Board of Public Works and Utilities approved a set of 2026 capital items and signaled staff to prepare a mortgage-revenue bond covering grouped water, sewer and storm projects spanning 2026—27.
The Onalaska Board of Public Works and Utilities reviewed the 2026 capital improvement program Sept. 2 and approved a series of project priorities while directing staff to advance planning for a mortgage-revenue bond to finance clustered utility projects across 2026 and 2027.
Board members and staff described the bond as a way to move larger utility projects onto rate-based financing rather than general obligation debt when projects are materially utility-driven. Staff said a two-year mortgage-revenue bond would let the utilities pay debt service directly and could lower borrowing costs for large grouped projects.
Key approvals and priorities: the board approved a set of projects to move forward in the 2026 capital plan and agreed in principle to pursue mortgage-revenue bonding for a cluster of water, sewer and storm projects. The motions passed included: - Approve purchase/lease of an end loader (PW 26-24) and public works facility roof repairs (PW 26-25). - Approve Wall Street paving (PW 26-3) and Seventh/Pierce Avenue North reconstruction (PW 26-4) as 2026 projects tied to the mortgage-revenue bond. - Approve Sand Lake Road decorative street lighting as a TID-funded project (TID 5) and include it in the 2026 plan. - Approve routine pavement maintenance and sidewalk program funding for 2026 and authorized off-street trail maintenance.
Why it matters: staff told the board material cost inflation and a backlog of utility work make grouping several larger projects into a mortgage-revenue bond an efficient financing tool. Staff estimated a clustered mortgage-revenue approach in the $6 million range across 2026-27 (staff will run final bond sizing and debt-service models). Board members discussed priorities: Wall Street and the Seventh/Pierce corridor are complementary reconstruction projects; Third Avenue North and Poplar Street were discussed as projects that could move into 2027 under the bond plan.
Board direction and next steps: the board asked staff to produce a consolidated project list and draft bond sizing for the mortgage-revenue package and to provide a spreadsheet with project splits (general fund vs. utility share) before the next meeting so the committee can finalize a recommended 2026/2027 borrowing plan and the related rate impacts. Staff said they will deliver a detailed funding spreadsheet and draft bond analysis for the October meeting.
What the board did not decide: the mortgage-revenue bond resolution itself was not adopted Sept. 2. The board approved a set of specific 2026 projects to move forward and instructed staff to prepare the mortgage-bond materials for a future vote.
