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Oconomowoc officials weigh $28 million, 10-year street plan: debt financing versus levy referendum
Summary
Council members and financial advisors debated two funding paths for a proposed 10-year street-improvement program totaling about $28 million: annual debt financing staged over the period, or a one-time levy-limit referendum to raise $2.8 million a year. The analysis compared tax impacts, interest costs and timing; no final decision was made.
City of Oconomowoc officials discussed two financing options Tuesday for roughly $28 million in street improvements planned across the next decade, weighing a 10-year debt-financing schedule against a levy-limit referendum that would raise about $2.8 million annually.
Financial adviser Greg Johnson of Ehlers presented both models and their tax effects. Under the debt plan, the city would issue annual borrowings tied to each year’s projects and amortize each issue over 10 years; total borrowing for the 10-year construction cycle was modeled at about $28.34 million, with estimated interest of about $7.58 million over the financing period. The alternative — a levy-limit…
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