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Finance committee approves parameters for up to $33.5 million exempt and $10.385 million taxable promissory notes
Summary
The Green Bay Finance Committee on Jan. 28 authorized parameters to issue up to $33.5 million in tax-exempt general obligation promissory notes and a $10.385 million taxable note tied to a pass-through loan for a private developer, and discussed why the city is borrowing via promissory notes rather than bonds.
The Green Bay Finance Committee on Jan. 28 approved a resolution authorizing issuance and establishing parameters for the sale of not-to-exceed $33,500,000 in tax-exempt general obligation promissory notes, series 2025A, and a $10,385,000 taxable general obligation promissory note, series 2025B.
Committee members and staff said the taxable portion reflects a pass-through loan to Newland that was approved previously in a development agreement and therefore must be issued on a taxable basis. Staff said presale reports from…
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