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Cottage Grove board authorizes parameters for up to $20.36 million in notes to fund 2026 capital plan
Summary
Trustees voted to adopt a parameters resolution allowing issuance of up to $20,355,000 in general-obligation promissory notes (Series 2026A) to finance streets, water/sewer, parks, police station and equipment; consultants capped true interest cost at 4.21% and projected the levy impact at about $65 per $100,000 of assessed value in 2027.
The Village of Cottage Grove Board of Trustees on Feb. 16 adopted a parameters resolution authorizing staff to proceed with a not-to-exceed $20,355,000 general‑obligation promissory note (Series 2026A) to fund the village’s 2026 capital-improvement plan.
Greg of Ehlers, the village’s municipal advisor, presented a presale report that allocated the borrowing among street and trail improvements, water and sewer projects, park improvements, the police‑station project and equipment purchases. The total project cost referenced in the packet was listed as roughly $220,214,000 across all funding sources; the resolution limits the…
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