Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Finance topic
No spam. Unsubscribe anytime.
East Troy reviews presale report and approves reimbursement-intent resolution for tax-exempt borrowing
Summary
Staff reviewed the presale report for planned 2025 notes and the board approved a standing reimbursement-intent resolution to preserve tax-exempt status and comply with the 60‑day rule.
The Village Board reviewed a presale report describing projects and equipment purchases the village expects to finance with 2025 notes and discussed funding sources and project life expectancies.
Staff member Helene said the presale report is provided for transparency and that the projects discussed are part of the village’s financial management plan and capital improvement plan. She told the board the presale report covered projects expected to have long life expectancies and noted that some projects have multiple funding sources beyond the levy.
Separately, the board considered Resolution 2025-08, a standing reimbursement-intent authorization required under tax-exempt bond regulations when expenditures precede borrowing beyond certain time windows. Staff explained the rule that if borrowing will occur more than 60 days after project expenditures begin, a reimbursement resolution helps preserve the ability to reimburse those expenditures from tax-exempt debt.
A motion to approve Resolution 2025-08 was made, seconded and approved by voice vote.
