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Waunakee OKs parameters to issue up to $7.025 million in general obligation notes
Summary
Trustees approved a parameters resolution authorizing staff to issue and sell up to $7,025,000 in general obligation promissory notes (Series 2026A), splitting borrowing across two years to manage IRS rules and aiming to keep each year under $10 million for bank-qualified status.
The Waunakee Village Board approved a parameters resolution on April 16 authorizing the issuance and sale of general obligation promissory notes not to exceed $7,025,000 to fund capital projects in the village’s two-year capital improvement plan.
A finance presenter recommended splitting the village’s planned borrowings across two years to avoid possible IRS arbitrage…
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