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Verona council approves parameters for up to $2.12 million promissory note to fund streets, water and wastewater projects
Summary
The council approved a resolution delegating sale authority and establishing parameters for issuance of up to $2,120,000 in general obligation promissory notes to fund several infrastructure projects and a fire squad replacement.
The Verona Common Council voted to authorize the issuance and sale of general obligation promissory notes not to exceed $2,120,000, with execution authority delegated under specified parameters to city officials. The resolution, approved June 23, establishes minimum and maximum purchase-price parameters and lists projects to be funded by the borrowing.
Finance committee members explained the mechanics: proceeds will support intersection signal work at…
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