Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Debt Issuance topic
No spam. Unsubscribe anytime.
Finance committee authorizes $22.75 million promissory note resolution to cover capital projects
Summary
Kenosha County’s finance committee approved an authorizing resolution to issue $22.75 million of general‑obligation promissory notes to fund multiple previously authorized capital projects and targeted economic development loans; the county's debt metrics remain within policy limits, officials said.
Kenosha County’s Finance Committee voted to advance an authorizing resolution to issue up to $22.75 million in general‑obligation promissory notes to fund a list of capital projects identified in prior resolutions and to allocate funds for economic development support.
Greg Johnson, a municipal finance advisor with Ehlers, walked committee members through the presale report, sources and uses, estimated issuance expenses and the anticipated timeline: a competitive sale on Aug. 18 with closing on Sept. 3. Johnson presented modeled debt‑service schedules and said the county remains within its policy metrics for adjusted debt burden, debt‑service-to-expenditure ratio and per‑thousand tax rate.
Tabled issuance costs include underwriter discount, rating fees, bond counsel and arbitrage monitoring. The borrowing supports a package of projects totaling roughly $22.565 million in capital costs with issuance expenses bringing the total to the $22.75 million authorization.
Committee members asked for clarity on several line items, including an allocation for a CABA high‑impact loan fund; administration staff said that the amount is intended as a tool for economic development to attract private investment and jobs. The committee voted to forward the resolution to the County Board for final action.
