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Brown Deer approves parameters to issue up to $13.3 million in general-obligation notes to refinance debt, fund projects
Summary
Trustees unanimously adopted Resolution 26-01 authorizing the sale of general obligation promissory notes to refinance 2018 debt and fund capital projects. Staff and Baird presented a timeline (pricing March 19; close April 8) and estimated issue size of $12.1 million, with a refunding portion of roughly $7.7 million.
The Village of Brown Deer Board of Trustees on a roll-call vote approved Resolution 26-01, authorizing the sale of general obligation promissory notes with parameters that would allow borrowing of up to $13.3 million to refinance prior debt and fund capital projects.
Brad Vigu of Baird, a financial advisor, told trustees that the estimated issue size is $12.1 million and described the largest component as a refunding of previously issued 2018 debt. "These…
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