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Two Rivers council approves $2.565 million in general obligation promissory notes for 2026 capital projects
Summary
After extended debate and public comment, the Two Rivers City Council voted 8–1 on Feb. 16 to authorize the sale of up to $2,565,000 in general obligation promissory notes to finance 2026 capital improvement projects, with closing targeted for April 8, 2026.
Two Rivers — The City Council voted on Feb. 16 to authorize the sale of up to $2,565,000 in general obligation promissory notes to fund 2026 capital improvement projects.
Finance consultant Justin (Barrett), presenting the plan of finance, said the issue is structured as a 10-year financing with an estimated interest rate near 4% and a maximum parameter rate of 4.5%. He told the council the borrowing would be split between a $2,215,000 levy-supported portion and a $350,000 electric-utility-supported portion,…
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