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Finance committee authorizes parameters for $137 million general obligation promissory notes sale
Summary
The committee approved a parameters resolution allowing up to $137 million in general obligation promissory notes, detailing project uses, maturities, interest ceilings and a planned sale date.
The Madison Common Council Finance Committee on July 28 recommended a parameters resolution authorizing up to $137,000,000 in general obligation promissory notes to finance capital projects approved in the 2025 capital budget. Finance staff explained the borrowing is intended to fund street reconstruction, fleet acquisitions, parks projects, stormwater work, facility remodels and several major projects including the Imagination Center, Warner Park Community Center and a permanent men's homeless shelter.
Dave (finance director) told the committee the $137,000,000 par amount includes roughly…
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