Village approves contingency borrowing declaration for STH 107 reconstruction
September 16, 2026 | Marathon City, Marathon County, Wisconsin
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The Village Board voted Aug. 5 to approve Declaration of Official Intent NO. 2026-08-05A covering the STH 107 reconstruction project. Administrator Cherek told trustees the declaration permits the Village to treat cash payments for the project as temporary and, if necessary within three years, convert those payments into a borrowing to replenish cash funds.
Cherek said the procedure preserves the Village’s flexibility should unexpected cash‑flow shortfalls occur during the three‑year window. The motion to approve was made by Trustee K. Paul and seconded by Trustee K. Sorenson and passed by voice vote. The declaration does not itself authorize a loan; it establishes the option to issue debt later if required.
Cherek said the procedure preserves the Village’s flexibility should unexpected cash‑flow shortfalls occur during the three‑year window. The motion to approve was made by Trustee K. Paul and seconded by Trustee K. Sorenson and passed by voice vote. The declaration does not itself authorize a loan; it establishes the option to issue debt later if required.
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