Finance and Executive Committee Joint Meeting — Agenda Packet

1 FINANCE AND EXECUTIVE COMMITTEE SPECIAL MEETING Wednesday, February 4, 2026, 8:30 AM ADMINISTRATION BUILDING - ROOM A-200 121 W. MAIN STREET, PORT WASHINGTON, WI AGENDA A. CALL TO ORDER B. PROPER NOTICE C. PUBLIC COMMENTS, CORRESPONDENCE, COMMUNICATIONS D. ACTION ITEMS 1. RESOLUTION AUTHORIZING THE REDEMPTION OF CERTAIN OF THE GENERAL OBLIGATION REFUNDING BONDS, DATED MARCH 7, 2019 2. RESOLUTION BUDGET AMENDMENT 2026 – REDEMPTION OF 2019 GENERAL OBLIGATION REFUNDING BONDS E. ADJOURNMENT A quorum of members of committees or the full County Board of Ozaukee County may be in attendance at this meeting for purposes related to committee or board duties. However, no formal action will be taken by these committees or the board at this meeting. Persons with disabilities requiring accommodations for attendance at this meeting should contact the County Clerk’s Office at 262-284-8110, 24 hours in advance of the meeting Page 1 of 8 Item: D.1. Agenda Item Information Sheet To: EXECUTIVE COMMITTEE From: Jason Dzwinel, County Administrator Meeting Date: February 4, 2026 Department/Office: Dept of Administration Item Name: RESOLUTION AUTHORIZING THE REDEMPTION OF CERTAIN OF THE GENERAL OBLIGATION REFUNDING BONDS, DATED MARCH 7, 2019 Summary: A resolution authorizing the refunding of $1,238,175 of Ozaukee County General Obligation bonds issued in March 2019. The refunding will reduce future debt service costs and lower the County’s property tax levy without extending bond maturities or increasing total debt. The debt was issued to fund the countywide radio system upgrade. The funds will be transferred from the General Fund Unrestricted fund balance currently situated at $12,711,844 (2024 Audit) and estimated to increase at least $3,200,000 due to investment income exceeding budgeted amounts, positive department and sales tax performance and new state revenues. Financial Impact Estimated reductions to the County’s debt levy are: • 2027: $405,000 • 2028: $420,000 • 2029: $430,000 Total estimated levy reduction: $1,255,000. Policy Consideration The refunding is consistent with the County’s conservative debt management practices and improves long-term fiscal flexibility while providing direct taxpayer savings. Of consideration is that YTD interest earnings are averaging 3.2% on county investments, while the interest paid on the 2019 debt is 3.0%. From an administrative perspective this refunding with General Fund Surplus reduces property taxes by returning the funds received by the excellent budgetary and financial performance the county had enjoyed in 2025 and previous years. Recommended Action: Staff respectfully requests, that the committees approve the resolution authorizing the refunding of $1,238,175 of Ozaukee County General Obligation bonds issued in March 2019. Attachments: 1. Resolution Ozaukee County - March 7 2019 Bonds - Redemption Resolution and Notice Page 2 of 8 QB\100699439.2 RESOLUTION NO. RESOLUTION AUTHORIZING THE REDEMPTION OF CERTAIN OF THE GENERAL OBLIGATION PROMISSORY NOTES, DATED MARCH 7, 2019 WHEREAS, Ozaukee County, Wisconsin (the "County") has outstanding its General Obligation Promissory Notes, dated March 7, 2019 (the "2019 Notes"); WHEREAS, the Ozaukee County Board of Supervisors has determined that it is necessary and desirable to call all of the 2027 through 2029 maturities of the 2019 Notes for redemption on March 9, 2026 with funds of the County on hand; NOW, THEREFORE, BE IT RESOLVED by the Ozaukee County Board of Supervisors, that all of the 2027 through 2029 maturities of the 2019 Notes are called for prior payment on March 9, 2026 at the price of par plus accrued interest to the date of redemption. The County hereby directs the County Clerk to work with Robert W. Baird & Co. Incorporated to cause timely notice of redemption, in substantially the form attached hereto as Exhibit A and incorporated herein by this reference (the "Notice"), to be provided at the times, to the parties and in the manner set forth on the Notice. Further, the County Clerk shall cause the funds necessary to redeem the 2019 Notes to be provided to The Depository Trust Company. Dated at Port Washington, Wisconsin, this 4th day of February 2026. SUMMARY: Resolution authorizing the redemption of certain of the General Obligation Promissory Notes, dated March 7, 2019. VOTE: Majority FINANCE AND EXECUTIVE COMMITTEES Page 3 of 8 QB\100699439.2 EXHIBIT A NOTICE OF FULL CALL* Regarding OZAUKEE COUNTY, WISCONSIN GENERAL OBLIGATION PROMISSORY NOTES, DATED MARCH 7, 2019 (the "Notes") NOTICE IS HEREBY GIVEN that the Notes of the above-referenced issue which mature on the dates and in the amounts; bear interest at the rates; and have CUSIP Nos. as set forth below have been called by the County for prior payment on March 9, 2026 at a redemption price equal to 100% of the principal amount thereof plus accrued interest to the date of prepayment: Maturity Date Principal Amount Interest Rate CUSIP No. 03/01/2027 405,000 3.00 692668KU9 03/01/2028 420,000 3.00 692668KV7 03/01/2029 430,000 3.00 692668KW5 The County shall deposit federal or other immediately available funds sufficient for such redemption at the office of The Depository Trust Company on or before March 9, 2026. Said Notes will cease to bear interest on March 9, 2026. By Order of the Ozaukee County Clerk Dated February 4, 2026 * To be provided by registered or certified mail, overnight express delivery, facsimile transmission, electronic transmission or in any other manner required by The Depository Trust Company, to The Depository Trust Company, Attn: Supervisor, Call Notification Department, 570 Washington Blvd., Jersey City, NJ 07310, not less than thirty (30) days nor more than sixty (60) days prior to March 9 2026 and to the MSRB electronically through the Electronic Municipal Market Access (EMMA) System website at www.emma.msrb.org. Page 4 of 8 Summary report: Litera Compare for Word 11.14.1.3 Document comparison done on 2/2/2026 11:38:37 AM Style name: Default Style Intelligent Table Comparison: Active Original DMS: iw://quarles.cloudimanage.com/active/100699439/1 - Ozaukee County - March 7 2019 Bonds - Redemption Resolution and Notice.docx Modified DMS: iw://quarles.cloudimanage.com/active/100699439/2 - Ozaukee County - March 7 2019 Notes - Redemption Resolution and Notice.docx Changes: Add 24 Delete 23 Move From 0 Move To 0 Table Insert 0 Table Delete 0 Table moves to 0 Table moves from 0 Embedded Graphics (Visio, ChemDraw, Images etc.) 0 Embedded Excel 0 Format changes 0 Total Changes: 47 Page 5 of 8 Item: D.2. Agenda Item Information Sheet To: EXECUTIVE COMMITTEE From: Jason Dzwinel, County Administrator Meeting Date: February 4, 2026 Department/Office: Dept of Administration Item Name: RESOLUTION BUDGET AMENDMENT 2026 – REDEMPTION OF 2019 GENERAL OBLIGATION REFUNDING BONDS Summary: This resolution will transfer $1,238,175 from the General Fund Undesignated Fund Balance to the Debt Service Fund to fund the redemption of the 2019 General Obligation Bonds. Recommended Action: Staff respectfully requests that the committees approve the transfer $1,238,175 from the General Fund Undesignated Fund Balance to the Debt Service Fund to fund the redemption of the 2019 General Obligation Bonds. Attachments: 1. Resolution Budget Amendment - Bond Redemption 2. Budget Amendment Form - Administration - Refund 2019 GO Debt March 2026 Page 6 of 8 RESOLUTION NO. BUDGET AMENDMENT 2026 – REDEMPTION OF GENERAL OBLIGATION REFUNDING BONDS RESOLVED, by the Ozaukee County Board of Supervisors, that budgets be increased in the accounts as follows: Department/Program Account Number Accou n t Name Am ount Amount Department of Administration – General Fund Expense Operating Service Transfer to Debt 101-0-00-81100-301 $1,2 38,175.00 Department of Administration – Debt Service Fund Revenue Operating General Transfer from 301-1-01-71100-101 Fund $1,238,175.00 Dated at Port Washington, Wisconsin, this 4th day of February 2026. SUMMARY: Resolution authorizing the redemption of certain of the general obligation refunding bonds, dated August 6, 2019 - $1,238,175.00 VOTE REQUIRED: Two-Thirds of Members Elect FINANCE AND EXECUTIVE COMMITTEES Page 7 of 8 Resolution No: Period Transfer Recorded: TO: County Board FROM: Increase of Revenue: Fund Transfer: Date of Request: 2/5/26 Supplemental Appropriations: Acct # 101-0-00-81100-301 $ 1,238,175 A/C # 301-1-01-71100-101 $ 1,238,175 / - - / - Pre-request Account's Budget / Changed To Pre-request Account's Budget / Changed To Cost Ctr & A/C Desc Cost Ctr & A/C Desc Acct # $ - A/C # $ - - / - - / - Pre-request Account's Budget / Changed To Pre-request Account's Budget / Changed To Cost Ctr & A/C Desc Cost Ctr & A/C Desc Acct # $ - A/C # $ - - / - - / - Pre-request Account's Budget / Changed To Pre-request Account's Budget / Changed To Cost Ctr & A/C Desc Cost Ctr & A/C Desc Acct # $ - A/C # $ - - / - - / - Pre-request Account's Budget / Changed To Pre-request Account's Budget / Changed To Cost Ctr & A/C Desc Cost Ctr & A/C Desc Acct # $ - A/C # $ - - / - - / - Pre-request Account's Budget / Changed To Pre-request Account's Budget / Changed To Cost Ctr & A/C Desc Cost Ctr & A/C Desc Acct # $ - A/C # $ - - / - - / - Pre-request Account's Budget / Changed To Pre-request Account's Budget / Changed To Cost Ctr & A/C Desc Cost Ctr & A/C Desc Total Debits: 1,238,175 Total Credits: 1,238,175 Date of Meeting Date of Meeting Budget Amended By: TYPE IN Oversight Committee Chairperson's Name Reason for Request (Be Specific). Also fill out Support Document for County Board. The General Fund will have adequate surplus from 2025 operation to pay off the remaining principal balance of the 2019 GO Debt. The payments remaining are 2027 $405,000, 2028 $420,000 and 2029 $430,000. The amount required to transfer is the principal total of $1,255,000 less the budgeted and levied interest payment due in September for the above outstanding balance in the amount of $18,825. Plus and amount estimated for any interest after 3/1/26 plus misc fees of $2,000. Total transfer is $1,255,000-$18,825+$2000=$1,238,175. This will be a 2026 transfer and transaction which will reduce the General Fund Balance. Date Amended: Oversight Committee Members Finance Committee Members Department Head Signature Debit / Expense Credit / Revenue Administration Department Name Type of Budget Amendment (check one) X Budget Amendment Request Committee Approval Form Page 8 of 8