Council approves sale of $3.2 million general obligation notes

The Mayville Common Council approved Resolution 5997-2025, authorizing the sale of $3,200,000 in general obligation notes.

Council discussed that the public hearing on the matter had proceeded and that the sale would be finalized through the private placement process. "This was on the number 1 hearing Mhmm. That went through a private institution," a council member said, indicating prior public hearing and subsequent private financing steps.

A motion to approve the resolution was made, seconded and adopted by roll call: "Alderperson Newman? Aye. Alderperson Liebnauth? Aye. Alderperson Wilson? Aye... Motion carries," the clerk recorded. No amendments to the resolution or alternative financing terms were presented on the record.

Council members noted that the formal documents had been signed and that the vote finalized council authorization to proceed with the financing. No interest rate or purchaser name was read into the public record at the meeting.