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Village approves $1.5 million general obligation promissory note; engagement letter flagged for potential conflict language
Summary
The Village Board authorized issuance and sale of a $1.5 million general obligation promissory note to cover road and capital costs and signed an engagement letter for bond counsel; trustees discussed language in the engagement letter that permits the firm to represent unrelated parties against the village in other matters.
The Village of Waukesha on June 12 approved a resolution authorizing the issuance and sale of a $1.5 million general obligation promissory note to fund road projects and related costs, and signed an engagement letter with bond counsel to proceed with the financing.
Finance staff presented an adjusted loan amount after additional road change orders increased the total need from about $1.43 million to $1.5 million.…
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