The Village of Hartland Village Board on Oct. 27 voted to authorize the issuance and sale of $5,005,000 in general obligation promissory notes, Series 2025A, to finance capital improvement projects.

Greg of Ehlers, the village's financial advisor, presented the note‑sale results and an executive summary. He reported that eight bids were received and the final true interest cost (TIC) was 3.5625 percent. Because the sale produced stronger pricing and lower issuance expenses than estimated, the village reduced the par amount to $5,005,000 while preserving the same project funding. The total net principal and interest over the 20‑year amortization is $6,797,304 — approximately $632,304 less than the estimate presented in the prior month.

Greg also drew trustees' attention to the bid tabulation and the final amortization schedule. He said the majority of the debt service will be repaid through the village's levy for debt service, while the water and sewer portion will be repaid from utility revenues. A Moody's Investor Services rating call affirmed the village's Aa2 rating.

After questions, a trustee moved and seconded the resolution authorizing the sale. The board approved the resolution by voice vote.

Board members were told the debt service levy would increase by about $25,000 from 2025 to 2026 under the plan and that staff would go through the budget line‑by‑line at the Nov. 10 meeting to finalize the 2026 budget.