Council authorizes up to $13.805 million in promissory notes for capital projects

The La Crosse City Council approved a resolution authorizing the issuance of general obligation promissory notes in an aggregate principal amount not to exceed $13,805,000 to fund capital projects and equipment purchases.

The mayor summarized the measure as a resolution "authorizing the issuance of not to exceed $13,805,000 aggregate principal amount of general obligation promissory notes of the city of La Crosse... for the purpose of completing certain capital projects and for the city and purchasing certain equipment for the city." The council voted to adopt the resolution with a recorded tally of 12 yes and 1 no.

Next steps: City finance staff will proceed with the details of note issuance, award the notes to a purchaser and prepare related tax and levy actions as required by state law.