Town of Oak Grove Minutes Board Meeting 2026-04-20
Oak Grove awards $531k interim loan to First National Bank
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Description
The Town of Oak Grove approved a $531,000 general obligation promissory note with First National Bank of River Falls at 4.28% for interim financing of the 1208th Street project. The short-term borrowing will bridge costs until an anticipated grant reimbursement in 2027.
Contract Details
Contract Amount
$531,000
Vendor
FIRST NATIONAL BANK OF RIVER FALLS
Agency
Town of Oak Grove, WI
Contract Type
FINANCIAL_SERVICES
Document Date
April 20, 2026
Contract Term
Interim financing (line of credit) at 4.28% interest, anticipated grant reimbursement in 2027
Renewal Info
Interim line-of-credit-style note intended to be repaid upon 2027 grant reimbursement; relatively short term.
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