Finance committee authorizes up to $10.56 million in general-obligation notes over objections

The Wausau Finance Committee on April 14 authorized the issuance of up to $10,560,000 in general obligation promissory notes (Series 2026A), a financing step tied to the city’s 2026 budget.

Alder Watson moved to approve the authorization; Alder Griner seconded. Alder Tierney led opposition during public comment, saying, “I will vote no on any and all items in today's agenda that spends or borrows money,” and urging colleagues to delay spending until the new council takes office. Committee members debated whether postponing the item would disrupt a bond calendar and the city’s planned sale timetable.

Members questioned technical details about timing and rating. One member asked whether the city’s Moody’s rating would be confirmed before the sale; staff said the rating process is standard and would be obtained in the sale process and that the city presently carries an AA3 rating. The committee also discussed term lengths — for example, a five-year motorpool term versus ten-year terms for other assets — as an effort to match borrowing to asset life.

A motion to postpone the authorization until the next meeting was seconded but defeated on a voice vote; the committee then returned to the main motion and approved the authorization by voice vote with one recorded opposition (approved, 4–1).

The authorization allows staff to proceed with the parameters established at prior meetings and to continue the bond sale process subject to the final terms determined by staff and financial advisors.