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Board approves Resolution 11-2025 to authorize up to $1.69 million in water bonds for Wellhouse #5
Summary
Trustees approved Resolution-11-2025 to authorize issuance and sale of up to $1,692,862 in water system revenue bonds (series 2025B) to fund construction of Wellhouse #5; the motion passed 3–0.
The Village of North Fond du Lac Board of Trustees approved Resolution-11-2025 on Aug. 18, which authorizes the issuance and sale of up to $1,692,862 in water system revenue bonds, series 2025B, to finance the construction of Wellhouse #5.
Administrator Nick Leonard presented the resolution and explained that the bonds are needed to fund construction of the new wellhouse. Trustee Mike Will moved to approve the resolution and Trustee Gary Schaub seconded; the motion passed with three ayes.
The minutes do not include details on interest rates, underwriter selection, repayment schedule or projected impacts to water rates. Those financial details and next procedural steps were not specified during this meeting and would be handled in subsequent finance or staff reports.
