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Vernon County awards $4.91 million promissory note; winning bid at 3.6208%
Summary
The County Board voted 19–0 to adopt Resolution 2026‑23, approving the sale of $4,910,000 in general obligation promissory notes (Series 2026A) with a winning bid yielding 3.6208% and a scheduled closing on May 13, 2026.
Peter Maydell of Ehlers Financial Advisors presented the financing package for Resolution 2026‑23 and reported that the winning bid for the $4,910,000 General Obligation Promissory Notes came in at 3.6208%, with a closing scheduled for May 13, 2026. The board adopted the resolution on a 19–0 roll call vote, meeting the three‑quarters threshold required for the issuance.
The resolution authorizes borrowing under Wis. Stat. § 67.12(12) for capital projects identified in the county's capital improvement plan, pledges an irrepealable annual tax levy for debt service through 2045, and establishes segregated debt service and borrowed‑money accounts. The minutes note the board was told a downgrade in ratings could occur if financial reserves materially decline; the board approved the award following presentation and roll‑call.
