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Manitowoc council authorizes up to $22.5 million in notes, accepts federal and state grants and confirms several committee reports
Summary
The Manitowoc Common Council unanimously approved a package of committee reports including a resolution to authorize up to $22.5 million in general obligation promissory notes, accepted a $625,000 HUD community project grant and a $250,000 WEDC Brownfields grant, and approved several related scope and contract items.
The Manitowoc Common Council on Feb. — called its February meeting to handle a slate of committee reports and funding measures including municipal debt authorization and several grants.
In a finance committee item, the council adopted a resolution authorizing the issuance and establishment of parameters for not-to-exceed $22,500,000 in general obligation promissory notes. Alderman Eric Sitkiewicz told the council the package “is a combination of issuing debt for our capital projects as well as refinancing of debt and some TIF projects,” and emphasized it does not represent all-new borrowing.
The council also approved a related scope of engagement for that issuance without further discussion.
The body accepted multiple grant-related recommendations from committee. An agenda item described a U.S. Department of Housing and Urban Development…
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