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Muscoda board approves $750,000 revolving loan at 3% interest
Summary
After returning from closed session, the Village Board approved Revolving Loan Application #25-01 for $750,000 at 3% interest with full amortization and equipment collateral; the board also awarded three $1,000 WPPI scholarships.
After meeting in closed session, the Muscoda Village Board reconvened May 13 and approved Revolving Loan Application #25-01 for $750,000 at 3% interest, with full amortization, no payment deferral and equipment to secure the loan.
The motion to approve the loan was recorded by roll call: Yes — Seifert, Wiederholt, Anderson, Hill, Miller, Imhoff. Administrator Johnson presented the loan terms and collateral conditions as part of the open-session action following the closed-session discussion.
Separately, the board awarded WPPI Energy/Muscoda Utility Scholarships of $1,000 each to Khloe Franklin, Kierra Prochaska and Alexandra Schneider.
The board also noted they will continue searching for a contractor for cemetery lawn maintenance and adjourned the meeting.
