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Committee approves parameters for $10.9 million GO promissory notes to fund capital plan
Summary
The finance committee recommended a resolution authorizing up to $10.9 million in general obligation promissory notes (Series 2025A) to fund Waukesha’s capital improvement program; the resolution sets parameters including a not-to-exceed interest rate and allows flexibility on award dates and call features.
The Waukesha City Finance Committee voted April 29 to recommend a resolution authorizing the issuance of up to $10,900,000 in general obligation promissory notes, series 2025A, to fund the city’s 2025 capital improvement program.
A representative from Baird presented the financing plan and timeline, explaining the city typically issues tax-exempt municipal notes to spread capital costs over the useful life of projects. The Baird presenter said the city’s current Moody’s rating is Aa2 and that the firm expected Moody’s to affirm that…
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