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Finance committee approves taxable G.O. notes to cover 2024 lead service-line work, faces $251,004 gap
Summary
The Wausau City Council Finance Committee authorized up to $2,172,756 in taxable general obligation water-system promissory notes to fund 2024 lead service-line projects and accepted related state financial-assistance terms; the state disallowed about $251,004 in expenses that the city must cover or reallocate.
The Wausau City Council Finance Committee on May 13, 2025 authorized the issuance and sale of up to $2,172,756 in taxable general obligation water-system promissory notes to provide local financing for lead service-line work completed in 2024.
City staff told the committee the financing complements a state financial-assistance agreement valued at $4,922,001.91 that includes $2,700,000 in principal forgiveness and roughly $2,000,000 in a 10-year loan at 0.25% interest.…
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