Elm Grove board authorizes up to $16.09 million in notes for capital projects
September 30, 2026 | Elm Grove, Waukesha County, Wisconsin
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The Village of Elm Grove Board of Trustees on Sept. 29 unanimously approved a parameters resolution authorizing the issuance of not-to-exceed $16,090,000 in general obligation promissory notes to complete capital projects, purchase equipment and refund certain municipal obligations.
The board’s presiding member said the proposal tracked the 20-page presentation previously reviewed and noted a small reduction in the interest-rate cushion included in the original pro forma. “We reviewed the 20 pages of presentation, and it's in line with what we've discussed previously,” the Chair said, adding that the 0.5 percentage-point cushion has been partly absorbed and that the board was “looking at probably, you know, the the interest rate of of roughly 5% holding.” The Chair also identified a planned tanker truck purchase scheduled for 2027 as part of the funded items.
The resolution (listed in meeting materials as parameters resolution 20,260,929) authorizes village officials to finalize and execute documents related to the notes; the Chair said the authorization includes the village president, village manager and finance director. A motion to approve the parameters resolution was moved and seconded and passed by voice vote without opposition.
The action allows village staff to proceed with underwriting and final note terms within the parameters approved; the board did not set a final sale date or final interest rate at the meeting. Additional procedural steps and documentation will be completed by the named village officers before any notes are issued.
The board’s presiding member said the proposal tracked the 20-page presentation previously reviewed and noted a small reduction in the interest-rate cushion included in the original pro forma. “We reviewed the 20 pages of presentation, and it's in line with what we've discussed previously,” the Chair said, adding that the 0.5 percentage-point cushion has been partly absorbed and that the board was “looking at probably, you know, the the interest rate of of roughly 5% holding.” The Chair also identified a planned tanker truck purchase scheduled for 2027 as part of the funded items.
The resolution (listed in meeting materials as parameters resolution 20,260,929) authorizes village officials to finalize and execute documents related to the notes; the Chair said the authorization includes the village president, village manager and finance director. A motion to approve the parameters resolution was moved and seconded and passed by voice vote without opposition.
The action allows village staff to proceed with underwriting and final note terms within the parameters approved; the board did not set a final sale date or final interest rate at the meeting. Additional procedural steps and documentation will be completed by the named village officers before any notes are issued.
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