Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Cottage Grove awards $3.28 million general obligation promissory notes; true interest cost 3.5837%
Summary
The Village awarded the sale of 2025 Series A general obligation promissory notes to Baird; the final borrowing amount of $3,280,000 came in under the previously authorized TIC cap, and trustees approved the resolution to award the sale.
Village finance staff told trustees the sale of the Village’s 2025 Series A general obligation promissory notes was awarded to Baird, and that the final true interest cost (TIC) for the borrowing came in at 3.5837 percent. Trustees voted to approve the resolution to award the sale and adopt the final borrowing amount.
Why it matters: The notes will finance a mix of capital projects and equipment purchases; staff said the sale’s lower than expected cost reduces the village’s…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
