Council approves $108,209 in taxable general obligation promissory notes

The Common Council approved Resolution #672 on Sept. 10, authorizing the issuance and sale of up to $108,209 in Taxable General Obligation Promissory Notes, Series 2025.

As recorded, "Motion Gorchals, second Appleby, to approve Resolution #672 authorizing the issuance and sale of up to $108,209 Taxable General Obligation Promissory Notes, Series 2025, and providing for other details and covenants with respect thereto, and approval of related financial assistance agreement." The motion carried with all "ayes", zero "nays." Present council members voting in favor were Mayor Rich Luedke, Chris Gunderson, Pat Gorchals, Shani Appleby and Kesha Butzin; two members were absent.

The transcript does not describe the intended use of the promissory note proceeds or the terms of the related financial assistance agreement. The action was taken during a brief special meeting; the clerk recorded the motions and votes.