De Pere authorizes up to $11.8M in GO notes and additional financings for capital projects and TIDs

The De Pere Common Council on July 21 approved multiple resolutions to authorize municipal borrowing for capital projects and tax-increment financing (TID) work. Justin Fisher of Baird presented the financing plan that included a tax-exempt general obligation promissory note not to exceed $11,800,000 (series 2026A) for levy-supported capital projects and water projects, a taxable GO note not to exceed $7,150,000 (series 2026B) to fund components of TID #17 and TID #18, and a $3,865,000 note anticipation note to finance an in-progress construction phase that will be converted to GO debt later.

"If you look at the presentation packet, the summary of the three financings we're talking about tonight, the first one being $11,800,000 general obligation promissory note series 2026A," Justin Fisher said, summarizing amount, purpose, estimated interest rates and maturity parameters. He told the council the tentative sale is scheduled for the week of August 5 with a closing on Sept. 2, 2026, and that Moody's rating from a prior call is expected within the next week.

Councilors asked clarifying questions about term structure and which projects were levy- or TID-supported; staff and the presenter confirmed most non-TID capital projects are levy-supported and that some longer-term components (for the MSC expansion) extend to a 20-year schedule while equipment and other items are amortized more quickly. The council approved Resolutions 26-69, 26-70, 26-71 and 26-72 by roll-call votes during the meeting.