Wisconsin Dells Pays 300k per year for High School Debt

The City of Wisconsin Dells will pay 300K per year for 10 years with the intention of refinancing the remaining balance owed for another 10 years.  The newly borrowed money is a promissory note for 4.7 million dollars.  Promissory notes can only be taken out for a term of 10 years - the City of Wisconsin Dells expects to need more time than 10 years to repay this debt.

This borrowing is being done very early in the process of constructing a new high school out along Rocky Arbor State Park.  The need to raise an additional 300 thousand dollars per year to pay down a loan has the community questioning what next years budget process will look like.

The City of Wisconsin Dells was able this year to craft a passable budget - but there is no money in risk reserve.   As the varied City committee's continue to compete for scarce public resources - the residents will need to remind the common council to keep their focus on assuring the essential services needed to maintain the community at an acceptable level.