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Mazomanie approves $2.84 million general obligation promissory note for 2026 capital plan
Summary
The Village Board unanimously approved Resolution 2026-01 authorizing sale of roughly $2.84 million in General Obligation Promissory Notes, Series 2026A, with municipal advisor Ehlers outlining tax impacts and timing related to closure of TIF #4.
The Mazomanie Village Board approved Resolution 2026-01, authorizing the sale of approximately $2,840,000 in General Obligation Promissory Notes, Series 2026A, to finance portions of the 2026 capital improvement plan.
Brian Roemer, senior municipal advisor with Ehlers, reviewed materials included in the board packet showing capital improvement financing plans, allocation of debt service, tax impacts and general obligation debt capacity analysis. Roemer told the Board that the timing of the note issuance is important in relation to the impending closure of TIF #4 and that the full TIF value will soon be included on the tax roll, which provides a modest tax benefit to village taxpayers even with the new notes.
Justin Martinez moved to approve Resolution 2026-01 and Karen Peterson seconded the motion. The motion carried unanimously.
