Manitowoc County will not be borrowing as much as originally proposed for highway projects.
County Executive Tyler Martell explained on WOMT’s Be My Guest program last week that the County Board approved a resolution for the sale of $2.45 million in general obligation bonds.
But that wasn’t what was called for in the county’s 2026 budget.
He noted, “It called for $3.5 million of borrowing.”
But because some bids came in under budget and with extra sales tax revenue, Martell says he is happy that the county was able to lower the borrowing.
It will also help lower the county’s debt, which is around $30 million.
Martell says while it doesn’t sound too bad right now, “Operationally, over 10% of the levy in property taxes we collect from people every year goes to debt service. So we spend almost $4 million a year on debt service. And so that means if we are paying for things that were accomplished in the past, we can’t be paying for those services that are wanted today.”
Which county roads will be redone next year have not yet been announced.
