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Monona committee approves $3.15 million promissory note to fund 2026 capital projects
Summary
The City of Monona Finance & Personnel Committee on March 16 approved Resolution 26-3-2885 authorizing the issuance and sale of a $3,150,000 general obligation promissory note (Series 2026A) to finance capital improvement projects; the sale produced a $220,188 net premium and a true interest cost at closing of 3.61%.
The City of Monona Finance & Personnel Committee on March 16 approved a resolution authorizing the issuance and sale of a $3,150,000 general obligation promissory note, Series 2026A, to fund 2026 capital improvement projects. The motion passed by voice/roll call after committee discussion of sale proceeds and pricing.
Jeff, a presenter for the city’s financing team, told the committee the sale produced a $220,188 net premium, which…
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