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Wausau finance committee approves parameters for $14.7 million general obligation promissory note, opts to smooth levy impact
Summary
The City of Wausau Finance Committee approved moving forward with a 2025 general obligation promissory note structured to push more principal into 2026, smoothing levy fluctuations and saving about $200,000 in interest over the life of the issue.
The City of Wausau Finance Committee voted July 22 to move forward with a 2025 general obligation promissory note for capital improvements using an amortization schedule that pushes more principal into 2026.
The committee approved the parameters resolution — known in discussion as “option 2” — after hearing staff and the city’s financial advisor outline two amortization alternatives. Option 2 raises the debt-service levy in 2026 to smooth the effect of the scheduled closure of Tax Incremental District (TID) 6 and to reduce total interest costs by about $200,000 over the life of the borrowing.
Mary Anne (staff member) told the committee that the revised borrowing list removed roughly $1 million in TID-related projects from the issue and that the remaining…
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