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Neenah approves parameters for up to $12.295 million in general obligation notes to fund 2025 capital projects
Summary
The Common Council approved a resolution establishing parameters to issue general obligation promissory notes (series 2025A) not to exceed $12,295,000, financing levy‑supported capital projects including the first $3 million of a $6 million fire station project; Baird presented timing, structure and projected debt service impacts.
The City of Neenah Common Council on June 18 approved Resolution 2025‑06 to authorize issuance and establish parameters for sale of general obligation promissory notes not to exceed $12,295,000 (Series 2025A) to finance 2025 capital projects.
Bradley V. Gut of Baird explained the financing plan and timelines: the issue was described in broad strokes as a general obligation promissory note scheduled as a 10‑year repayment with final payment in 2035, with an estimated interest rate around 4.06 percent based on current market conditions. The borrowing will finance three groups of projects: levy‑supported projects (about $11.61 million of the issue, including $3.0 million for the fire station this year with another $3.0 million to be issued next year), sanitary sewer projects (about…
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