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Finance committee authorizes promissory notes, accepts state financial aid for 2024 lead service‑line work
Summary
The Wausau City Council Finance Committee approved issuing up to $2,172,756 in taxable general obligation water system promissory notes and accepted a state financial assistance agreement that provides principal forgiveness and a low‑interest loan for 2024 lead service‑line removal projects.
The Wausau City Council Finance Committee voted Tuesday to authorize issuance of up to $2,172,756 in taxable general obligation water system promissory notes and to accept a state financial assistance agreement that will cover most of the city’s 2024 lead service‑line replacement costs.
City staff said the 2024 work totaled about $5.6 million, and the state offer documented in the financial assistance agreement is for $4,922,001.91. Mary Anne, a city staff member, said the agreement includes $2,700,000 in principal forgiveness and roughly…
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