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Waupaca County board OKs up to $35 million in bonds to fund courthouse renovation
Summary
The Waupaca County Board on March 19 authorized issuing up to $35 million in general obligation bonds to finance a courthouse renovation; the resolution passed 24‑1 and the board also adopted a related reimbursement resolution for interim expenditures.
Waupaca County supervisors on March 19 authorized the county to issue general obligation bonds not to exceed $35,000,000 to finance a planned courthouse renovation project.
The board adopted Resolution No. 42 by a 24‑1 vote, levying a tax on all taxable property as necessary to pay the principal and interest on the bonds. The resolution says the borrowing is for the public purpose of financing the courthouse renovation and directs that taxes be levied in the years and amounts necessary to meet debt service.
A companion measure, Resolution No. 43, passed unanimously and declares the county's official intent under treasury regulation to reimburse interim expenditures for the project with bond proceeds; the resolution notes the principal amount expected to be reimbursed will not exceed $7,000,000 and directs that the resolution be made available for public inspection at the clerk’s office.
The measures were introduced and recommended by the county’s finance committee and adopted during the regular county board session. The board’s approval authorizes staff to proceed with steps required to issue general obligation debt under Chapter 67 of the Wisconsin Statutes and to prepare for borrowing in accordance with applicable federal reimbursement rules.
Next steps include final bond structuring, sale of the bonds and scheduling debt service; the resolution indicates the county will levy taxes as needed to pay principal and interest when due.
