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Board consents to conduit financing request for BBL Kresge LLC; supervisors press for more project detail
Summary
The county approved consent to use the Public Finance Authority (PFA) for taxable conduit financing requested by BBL Kresge LLC for a $27 million bond, with supervisors asking for more transparency about project details and some members voting no over lack of municipal discussion and project clarity.
Marathon County supervisors voted July 22 to provide consent for BBL Kresge LLC to use the Public Finance Authority (PFA) for taxable conduit financing, a step the developer needs to access the PFA bond market. The motion was made by Supervisor Seefeldt and seconded by Supervisor Robinson and carried after debate.
What the vote allows: County officials explained that consenting to the conduit financing does not create county debt, does not pledge the county to repay the bonds, and does not count against the county’s statutory borrowing limit. Administrator Leonard told supervisors the financing is a private issuance…
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