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Finance committee approves parameters to sell up to $5 million in promissory notes to fund roads
Summary
The committee adopted a parameters resolution allowing up to $5 million in general obligation promissory notes, capping underwriting and financing costs and setting a maximum interest rate; Baird recommended timing and an interest-rate assumption to guide issuance.
The Muskego City finance committee voted March 24 to approve a parameters resolution authorizing officials to issue and sell up to $5 million in general obligation promissory notes to fund road projects.
Kevin Mullen, representing Baird's public finance department, briefed the committee on the parameters resolution and market context. "The parameters resolution establishes that you could borrow up to but not more than $5 million for the purpose of those road projects," Mullen said. He described…
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