Verona council approves parameters for up to $2.12 million promissory note to fund streets, water and wastewater projects

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 Legion Street and West Verona Avenue; a water-system master plan and pressure-monitoring work; a wastewater-system master plan and flow monitoring; upsizing pumps and controls at the West Side wastewater pump station; a water-tower siting study for the central pressure zone; a well rehabilitation; and the replacement of Verona Fire Department Squad 5. The resolution also directs that debt for the infrastructure projects (except the squad replacement) be allocated to TIDs 9 and 11 as appropriate.

Alder Helkey moved the resolution and the council voted in favor after a second; the motion passed on a roll-call-style affirmation. A finance committee motion earlier in the meeting also approved payment of $951,781.58 in bills, including a $123,000 purchase for a wheel loader and a $421,169 payment for Fitzheron EMS (second half). The council recorded the payments by voice vote.

Council members discussed a procedural change from prior years: instead of requiring the council to accept bids on a meeting night, the resolution delegates authority to the city administrator or finance director to complete the sale within written parameters, providing flexibility to time the market. An Ehlers representative was present for questions.

The resolution directs staff to satisfy conditions in section 17 of the document before closing; no specific sale date was announced in open session.