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Monona council authorizes $3.3 million general-obligation note to fund capital projects
Summary
The Monona City Council approved issuance of a $3.3 million general-obligation promissory note (Series 2025A) to cover capital projects, after hearing municipal-market results showing a 4.33% true interest cost and a modest premium to debt service.
The Monona City Council voted to approve a resolution authorizing the sale of a $3,300,000 general-obligation promissory note, Series 2025A, to fund capital projects after hearing results from the municipal market.
Financial advisor Jeff Balange of Huttgen & Shockey told the council the note produced a true interest cost of 4.33% at closing and a market “net premium of $7,147” that must be applied to the city’s…
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