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Shorewood approves parameters for $9.235 million promissory notes; declares intent to reimburse borrowing
Summary
The Shorewood Village Board voted unanimously to authorize parameters for up to $9.235 million in general obligation promissory notes and separately approved a declaration of intent to reimburse certain project expenses from future borrowing, including funds related to the village's lead service line work.
The Shorewood Village Board voted unanimously to authorize the sale of up to $9.235 million in general obligation promissory notes and approved a separate declaration that would allow the village to reimburse certain prior expenditures from future bond proceeds.
The bond authorization, described in resolution 2025-01, sets parameters for sale of the notes; resolution 2025-02 declares the village's official intent to reimburse expenditures with bond or note proceeds if it later issues borrowing. Both measures passed on roll-call votes of 7-0.
Village officials said the borrowing would provide financing flexibility for several large projects discussed by the board, including work tied to the…
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