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Germantown finance committee sets parameters for up to $17.17 million borrowing, favors smoother levy approach
Summary
The General Government & Finance Committee approved parameters for a not-to-exceed $17,170,000 general obligation promissory note to fund the five-year CIP, police design and fire-station work, selecting a financing plan intended to smooth levy increases for homeowners while accepting modestly higher lifetime interest costs.
The Village of Germantown General Government & Finance Committee on Monday approved parameters for a not-to-exceed $17,170,000 general obligation promissory note to finance a package of capital projects, and selected a financing “Scenario Two” designed to even out levy impacts across the near term.
Justin Fisher, the municipal finance adviser, told the committee the issuance would be structured as a 20-year general obligation promissory note with a first interest payment on March 1, 2027, and an estimated interest target of 4.25% (with a maximum parameter of 4.5%). He said the package would fund the village’s five-year capital improvement plan, police department…
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