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Cottage Grove board approves parameters for up to $3.335 million promissory note sale
Summary
The Cottage Grove Village Board approved a parameter resolution authorizing the sale of general obligation promissory notes not to exceed $3,335,000 and allowing designated staff to accept the sale if presale criteria are met.
The Cottage Grove Village Board voted to approve a resolution authorizing the issuance and sale parameters for general obligation promissory notes not to exceed $3,335,000.
The measure, described at the meeting as a parameter sale, allows designated staff to accept the sale on the date of sale if the presale criteria are met without returning to the board for final approval. "Just wanna note this is a parameter sale ... what this motion does is it authorizes Matt or myself to accept the sale without it coming back to the village board," Cameron said during discussion.
Board members asked no further questions, and the motion carried. The resolution was identified in the meeting as "Resolution 2025-2 (general obligation promissory notes)" and was presented to the board in the packet.
