Antigo board approves $20 million bond sale tied to 2024 referendum; financing locks 4.52% interest rate

The Unified School District of Antigo board voted June 25 to award a $20,000,000 general‑obligation bond sale tied to the district’s November 2024 capital referendum. The district’s financial advisor, Eric Koss, reported competitive bids and recommended Mesirow Financial, which offered an interest structure with a 4.52% true interest cost.

Koss summarized the financing plan: the $20 million is the second issuance connected to the $54 million referendum approved Nov. 5, 2024; the bonds are structured with callable features that give future boards flexibility to refinance or prepay. The issue is a 20‑year maturity series with principal due beginning March 1, 2026, and final maturity March 1, 2045. If approved, the expected closing date was July 7, 2025.

Koss told the board the financing plan was designed to manage levy impact. He projected that issuing debt and securing state aid reimbursements in subsequent years would lower the district’s levy requirement over time; he estimated a levy necessary next year of roughly $1.8 million compared with a prior levy near $2.9 million (estimates depend on final state aid amounts). Board members asked whether fund balance could be used to cover initial payments that precede state aid; Koss and staff explained state aid is typically a reimbursement paid in the following year and the district could use available fund balance to bridge timing differences.

Board members voted to adopt the resolution awarding the bond sale; the motion carried.