Kenosha County committee clears initial resolution to issue up to $13.5 million in GO notes for 2026 capital projects

The Kenosha County Finance Committee approved an initial resolution authorizing the issuance of general-obligation promissory notes not to exceed approximately $13,505,000 to fund budgeted capital projects for 2026.

Greg Johnson Miller, a staff presenter, walked the committee through a multi-year financing plan that allocates a 2026 project list across existing borrowing resolutions and the new initial resolution. "All of these, all the debt service, principal and interest for the 2026 notes will be paid by the property tax levy," Miller said, noting the plan uses remaining capacity under prior resolutions where available and adds a single new initial resolution for items that cannot be funded from prior authority.

The presentation listed about $31,750,000 in total project costs and estimated 2026 borrowing of roughly $25.2 million to be issued for projects identified for that year. Miller said the consultant team used a conservative 4% interest-rate assumption for the plan and presented a 10-year amortization schedule showing estimated principal and interest and the net impact to the county's debt-service levy.

The plan forecasts the debt-service levy would increase by about $850,000 for 2026 and then settle at just under $1 million per year based on targeted borrowing through 2034. Miller said the multiyear approach is intended to meet the county's longstanding policy objective of reducing principal outstanding by at least 5% between year-end 2022 and year-end 2032 while accommodating planned capital investment.

The presentation identified several prior resolutions that still carry borrowing authority and will be used before drawing on the new resolution: (transcript references) 2024-59, 2021-75, 2025-87, 24-60, 22-50 and 22-49. Committee materials show staff assigned specific projects to those resolutions and then calculated the new initial resolution amount needed to fund the remaining projects.

Supervisor Gearston moved approval of the initial resolution; Supervisor Nudo seconded. The motion passed by voice vote.

What happened next

The committee proceeded to consider the 2026 budget resolution and a series of amendments and housekeeping changes that are reported separately. The financing plan materials and the initial-resolution approval will be forwarded to the full county board as the committee recommended.

Provenance

Topic start (presentation): "Good evening. I'm Greg Johnson Miller. It's good to see everyone again. To accompany the resolution that's on your agenda, we've prepared kind of our multi year financing plan." (transcript, 08:03-08:12)

Topic finish (motion and vote): "It's been moved by supervisor Kirsten, seconded by supervisor Nudo. Any questions or comments on that motion? Seeing none, all those in favor? Aye. Any opposed? That passes." (transcript, 19:29-19:58)