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Finance committee approves parameters to issue 2025 general obligation promissory notes, chooses amortization that smooths levy impact
Summary
The committee voted to pursue 2025 general obligation promissory notes using an amortization schedule that front-loads principal in 2026 to smooth levy fluctuations and save an estimated $200,000 in interest over the life of the issue.
The Wausau Common Council finance committee on July 22 voted to advance a 2025 general obligation promissory note package and selected an amortization option that increases principal repayment in the first year to smooth levy changes tied to expiring tax incremental financing (TID) districts.
Financial adviser Phil Costins of Ehlers told the committee the proposed debt would fund multiple capital projects and include separate amortization schedules for projects financed by different revenue sources. “We have 1 debt issue…
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