Village Board

AGENDA R EGULAR BOARD MEETING PLACE: Little Chute Village Hall DATE: Wednesday, November 1, 2023 TIME: 6:00 p.m. Virtually attend the November 1, Regular Board meeting at 6 PM by following the zoom link here: Join Zoom Meeting: https://us06web.zoom.us/j/87271218187 Meeting ID: 872 7121 8187 Dial by your location: +1 312 626 6799 US (Chicago) REGULAR ORDER OF BUSINESS A. Invocation B. Pledge of Allegiance to the Flag C. Roll call of Trustees D. Roll call of Officers and Department Heads E. Public Appearance for Items Not on the Agenda F. Other Informational Items: G. Consent Agenda Items on the Consent Agenda are routine in nature and require one motion to approve all items listed. Prior to voting on the Consent Agenda, items may be removed at the request of any Board Member or member of the public. Any removed items will be considered immediately following the motion to approve the other items. 1. Minutes of the Regular Board Meeting of October 18, 2023 2. Disbursement List H. Public Hearing – 2024 Budget Hearing 2024 Draft Budget I. Action – Adopt Resolution No. 20, Series 2023, A Resolution Adopting the 2024 Budget and Establishing the Tax Levy J. Discussion/Action – Adopt Resolution No, 21, Series 2023 Authorizing the Administrator or Finance Director to provide preliminary approval for Resolution Authorizing the Issuance and Establishing Parameters for the Sale of Not to Exceed $7,045,000 General Obligation Promissory Notes if achieve True Interest Cost of 5.5% or lower K. Discussion/Action—Forestry Manual Update & Petition L. Discussion/Action – Personnel Policy Amendment for Vacation Carryover Process M. Discussion/Action— Dump Truck Cab and Chassis Purchase Approval N. Department and Officers Progress Report O. Call for Unfinished Business P. Items for Future Agenda Q. Adjournment Requests from persons with disabilities who need assistance to participate in this meeting or hearing should be made with as much advance notice as possible to the Clerk’s Office at 108 West Main Street, (920) 423-3852, email: Laurie@littlechutewi.org Prepared: October 26, 2023  MINUTES OF THE REGULAR BOARD MEETING OF OCTOBER 18, 2023 Call to Order: President Vanden Berg called the Regular Board Meeting to Order at 6:00 p.m. Pledge Allegiance to the Flag President Vanden Berg led members in the reciting of the Pledge of Allegiance. Roll call of Trustees PRESENT: Michael Vanden Berg, President Bill Peerenboom, Trustee Larry Van Lankvelt, Trustee Brian Van Lankveldt, Trustee David Peterson, Trustee John Elrick, Trustee (arrived 6:25 p.m.) Don Van Deurzen, Trustee Roll call of Officers and Department Heads PRESENT: Beau Bernhoft, Administrator Laurie Decker, Village Clerk Lisa Remiker-DeWall, Finance Director John McDonald, Director of Parks, Rec and Forestry Kent Taylor, Director of Public Works Captain Slotke, Fox Valley Metro Police Tyler Claringbole, Village Attorney EXCUSED: Dave Kittel, Community Development Director Public Appearance for Items Not on the Agenda None Consent Agenda Items on the Consent Agenda are routine in nature and require one motion to approve all items listed. Prior to voting on the Consent Agenda, items may be removed at the request of any Board Member or member of the public. Any removed items will be considered immediately following the motion to approve the other items. 1. Minutes of the Regular Board Meeting of October 4, 2023 2. Disbursement List Moved by Trustee L. Van Lankvelt, seconded by Trustee B. Van Lankveldt to approve the Consent Agenda as presented. Ayes 6, Nays 0 – Motion Carried Discussion/Action – ATCAM Site Plan Administrator Bernhoft presented the Site Plan for ATCAM, an addition to their facility located at 1850 E Elm Dr. The addition is 30,000 square feet to allow for new growth and a driveway located on Bohm Dr. The Plan Commission recommended approval to the board, with the condition any remaining staff questions are answered. Moved by Trustee Peerenboom, seconded by Trustee Van Deurzen to approve the ATCAM Site Plan as presented with staff questions noted. Ayes 6, Nays 0 – Motion Carried Discussion/Action – Hawks Nest Outdoor Music Administrator Bernhoft discussed the concerns brought up by neighbors in regards to outdoor music played at Hawk’s Nest. There are two more weekends scheduled this year. The board has the option to revoke the permit for the year and to take into consideration the comments and concerns for next year if the permit is requested again. Trustee Peerenboom stated he understands issues have been taking place, he does not feel it should be cancelled for the last two weeks. This issue will certainly be addressed with caution next year. Trustee Van Deurzen asked Cpt. Slotke if the Hawks Nest is aware of the decibel level they should be at, and what will happen if there is an issue this week. Cpt. Slotke stated the bar is well aware of their limitations, if the decibel recorded is well over a citation may be issued. Trustee Van Deurzen asked Brian and Jessica Van Handel, 1675 West Main Street, if they think the issue has gotten better since initially bringing it to the board. They stated a firm NO. The decibels are very loud and disruptive, they continue to play over 70 decibels regardless of police involvement. The music is easily heard in the house with doors and windows shut. He feels 70 decibels is completely unreasonable in a residential setting. Administrator Bernhoft stated conversations with the officers have taken place so they understand what the permit allows for and how to move forward. The easement is also being looked into. Trustee Van Lankvelt stated there are more issues than noise, such as parking, this will be addressed next year. Trustee B. Van Lankveldt asked if the indoor music is a problem, can it be heard from the property. Van Handel stated he can hear it outside, but not inside the home. Trustee Peerenboom thanked the Van Handel’s for bringing this to the board’s attention and next year will be a much different process. No Action Taken Discussion/Action – Amending Covenants for Little Chute North Administrator Bernhoft stated we did receive a petition from neighbors in the Little Chute North subdivision. Staff would recommend amending the covenants to include language allowing the village board to review and approve any requests for detached garages from properties protected by these covenants. Trustee Van Deurzen asked the petition organizer, Mr. Jake Van Wychen of 638 Harvest Trail, how many neighbors said no to the request. None were recorded. He has amended his request to a 500 square foot building. Administrator Bernhoft recommended a public hearing to allow all residents the chance to voice their opinion. Trustee Peerenboom stated he feels the shed size is too large for the neighborhood and does not like having every shed come to the board for approval, as a waste of time. B. Van Lankveldt thanked Jake for his work on this and recommends a public hearing on the matter. The Board agrees and staff will begin drafting language and schedule a public hearing. Discussion/Action – Heesakker Trust Update Director McDonald presented an update on the Heesakker Trust. Information on the Trust was presented, a timeline from the donation and direction of the project and various ideas for the funds. The family is looking for a large project such as a club house or large building. Samples of buildings in the area were reviewed along with a map of potential locations. It is noted a parking lot would be required if a building is put in. The family was presented with an option/idea for an open-air shelter. Various layouts and locations were presented. Utilities and maintenance will need to be considered for a new building. Park Planning Committee and staff have been meeting regularly since May to work on this trust to determine what an appropriate project would be. The project will be done in two phases, design/engineer one year, build the next. Park Planning meets next Tuesday, October 24 and hope to present a finalized project/plan to the Village Board in the near future. Director McDonald stated a building built locally was done for $2 million. Trustee Peerenboom, a member of the Park Planning Committee, stated they spent months coming up with recommendations for the park. The top suggestions were related to the wooded area, which was not okay with the family/trust. They did not think spending the entire trust fund on one building with future maintenance costs is not in the best interest of the park. The trust submitted different ideas that were not approved as the family wants a shelter. This goes against what the Park Planning Committee feels is the best use of the funding. He feels, personally, we should hold off and the money goes to the Community Foundation to be used exclusively for the wooded area of the park. He would like direction from the board so the Park Planning Committee can move in the appropriate direction. Representatives from the Trust stated the importance of following the donor’s intent, which requires a “clubhouse” or inside structure that allows people to gather, remaining funds could go to the woods. The gift was intended to build a club house/building that would allow people to enjoy and use the park. Director Remiker-DeWall stated her concerns about staff time and reimbursement costs that would also occur with this project. Representatives from the Trust stated the Village can be reimbursed for all work undertaken for the purpose of improvement of the park by the construction of the new clubhouse. Trustee Van Deurzen stated we should follow the donor’s wishes and look into building a structure. The Park Planning Commission will take the direction from the board and work on plans for a shelter. Discussion/Action – Special Event Permit Request, Fox Heritage 8K Run Director McDonald presented a request for a special event permit for the Fox Heritage 8K Run. Ms. Jessica Decet, organizer of the event was present. This is a new event that will bring communities together. Staff have reviewed the event details and recommend approval by the board. Moved by Trustee Elrick, seconded by Trustee L. Van Lankvelt to approve the special event permit request for the Fox Heritage 8K run. Ayes 7, Nays 0, Motion Carried Appointments Appointed to Board of Appeals: Kevin Coffey, Rick Vanden Boogart Moved by Trustee Elrick, seconded by Trustee Van Deurzen to approve Appointments as presented. Ayes 7, Nays 0, Motion Carried Discussion/Action – DPW Fleet Vehicle Purchase Director Taylor presented a request for a DPW Fleet Vehicle Purchase. This is in the 2023 budget, cost was estimated at $35,000, however the lowest bid for the replacement of Truck 90 was by Ewalkd Automotive Group for $39,693.00 Previous beneficial purchases would allow for this purchase to remain under budget for 2023. Staff recommend approval of the purchase for the 2024 Chevrolet Silverado 1500 for $39,693. Moved by Trustee Peerenboom, seconded by Trustee Elrick to approve the purchase as recommended. Ayes 7, Nays 0, Motion Carried Discussion/Action – Change Order Well #1 Roof Replacement Director Taylor discussed the Change Order request for Well #1 Roof Replacement. The contractor starting the work, HIS Comp LLC noticed deficiencies in what the scope of work was. They submitted a change order for $30,243, bringing the cost of the project to $94,251. Staff recommends all options submitted by HIS be completed. The Village Attorney was consulted and recommends moving forward with the change order. Trustee Elrick asked who put the scope of the project together? Taylor stated McMahon was hired to design and the bidding portion of the contract, approved by the board in April. Trustee Elrick asked if McMahon walked the roof. Taylor stated he was told they did make an appearance and measuring on the roof. None of the other bidders on the project were aware of the issues. Trustee Elrick asked if McMahon has accepted any responsibility for the change order? Taylor stated they have not, they believe the costs for the options are reasonable and needed. Trustee Peerenboom asked how McMahon could have missed these issues and finds it inexcusable for this large of a change order. Director Taylor stated McMahon tried to keep the budget under $70,000 and this was their plan. Trustee Elrick stated he wants McMahon to refund every dime paid for their part in this. Trustee Peerenboom agreed. They were hired to complete this project and missed several items. President Vanden Berg agrees we should ask for reimbursement from McMahon. Director Taylor said he would follow the board’s direction and ask for a refund from McMahon. Finance Director Remiker-DeWall stated she does not believe McMahon has been paid for this project yet. Moved by Trustee Peerenboom, seconded by Trustee Elrick, to approve the Change Order in the amount of $30,243 and request a complete refund from McMahon for engineering services on this project. Ayes 7, Nays 0, Motion Carried Department and Officer Reports Department Heads and Officers provided progress reports to the Board. Call of Unfinished Business None Items for Future Agenda Closed Sessions: 19.85(1)(e) Wis. Stats. Deliberations or negotiations on the purchase of public properties, investing of public funds or conducting other specific public business when competitive or bargaining reasons require a closed session. Three (3) Economic Development Items Moved by Trustee Elrick, seconded by Trustee Van Deurzen to enter closed session. Ayes 7, Nays 0, Motion Carried Return to Open Session Moved by Trustee Elrick, seconded by Trustee Van Deurzen to exit closed session at 8:15 p.m. Ayes 7, Nays 0, Motion Carried Potential Action – Economic Development Item Moved by Trustee Peerenboom, seconded by Trustee B. Van Lankveldt to approve a Memorandum of Understanding with the Hartwig Trust for property for the new fire station. Ayes 7, Nays 0, Motion Carried Adjournment Moved by Trustee Van Deurzen, seconded by Trustee L. Van Lankvelt to Adjourn the Regular Board meeting at 8:15 p.m. Ayes 7, Nays 0 – Motion Carried VILLAGE OF LITTLE CHUTE By: ___________________________________ Michael R. Vanden Berg, Village President Attest: Laurie Decker, Village Clerk  VILLAGE OF LITTLE CHUTE RESOLUTION NO. 20, SERIES OF 2023 A RESOLUTION ADOPTING THE 2024 BUDGET AND ESTABLISHING THE TAX LEVY. WHEREAS, Chapter 16 Article II, Section 16-31 of the Village of Little Chute requires an annual budget appropriating monies to finance activities of the Village for the ensuing fiscal year; and WHEREAS, the Village Board of Trustees has duly considered and discussed a Budget for 2024 as recommended by the Village Administrator; and WHEREAS, the Village Board of Trustees held a public hearing on the 2024 Budget on November 1, 2023, as required; and WHEREAS, the 2024 Budget requires a tax levy to partially finance the appropriations; NOW, THEREFORE, BE IT RESOLVED by the Village Board of Trustees, Village of Little Chute, Wisconsin, that: Budgeted revenue estimates and expenditure appropriations for the year 2024 for the Village's General Fund, Special Revenue Funds, Debt Service Funds, and Capital Project Funds be, and are hereby adopted as set forth below in summary and established by department or cost center in the budget document: BE IT FURTHER RESOLVED, that the property tax levy required to finance the 2024 Budget be certified as follows: Fund Name Tax Levy General Fund $ 937,760 Fire Equipment 100,000 Aquatics 136,976 Library/Civic Center 527,263 Fox Valley Metro Police 2,535,126 Nelson Crossing Maintenance 3,482 Debt Service 1,180,494 Major Capital Projects 175,000 Fleet 25,000 Facilities & Technology 144,350 Total $ 5,765,451 Introduced, approved, and adopted: November 1, 2023 VILLAGE OF LITTLE CHUTE By: Michael Vanden Berg, Village President Attest: Laurie Decker, Village Clerk Village of Little Chute Justin A. Fischer, Managing Director Village Board – Plan of Finance jfischer@rwbaird.com 777 East Wisconsin Avenue Milwaukee, WI 53202 November 1, 2023 Phone 414.765.3827 Village of Little Chute Village Board – Plan of Finance November 1, 2023 Hypothetical Issue Summary Estimated Size: $7,045,000 Issue: General Obligation (G.O.) Promissory Notes Maturities: Annually August 1, 2024-2033 First Interest: August 1, 2024 Callable: Callable on or after 8/1/2030 Purpose: 2023 & 2024 Capital Improvement Projects • Levy Supported - $883,000 • TID #6 Supported - $1,600,000 • TID #7 Supported - $2,888,000 • Stormwater Supported - $1,200,000 • Water Supported - $470,000 Estimated Interest Rate (TIC): 4.75% Parameter Interest Rate (Not to Exceed TIC): 5.50% Tentative Timeline • Village Board considers Plan of Finance and adopts Parameters Resolution for G.O. Promissory Notes ................................ November 1, 2023 Authority for final sign-off of the sale, within designated parameters, is delegated to its Administrator or Finance Director (an “Authorized Officer”)  Preparations are made for issuance  Official Statement  Bond Rating  Marketing • Authorized Officer signs Approving Certificate (finalizes terms and interest rates) ....................................................Week of November 20, 2023 • Closing of General Obligation Promissory Notes (funds available) ....................................................................................................December 11, 2023 Page | 1  Village of Little Chute Village Board – Plan of Finance November 1, 2023 Hypothetical General Obligation Financing Illustration 2023-24 CIP $7,045,000 G.O. PROMISSORY NOTES New Money New Money New Money New Money New Money Dated December 11, 2023 $885,000 $1,600,000 $2,890,000 $1,200,000 $470,000 (First Interest 8/1/2024) Levy TID #6 TID #7 Storm Water COMBINED DEBT SERVICE (B) EXISTING PRINCIPAL NET INTEREST TOTAL TOTAL TOTAL TOTAL TOTAL TOTAL YEAR DEBT (8/1) (2/1 & 8/1) SPECIAL COMBINED YEAR DUE SERVICE TIC= ASSESSMENT DEBT SERVICE DUE (Levy Supported) 4.75% OFFSETS (Levy Supported) (A) 2023 $1,312,864 ($190,000) $1,122,864 2023 2024 $1,327,493 $365,000 $173,642 $538,642 $19,439 $119,868 $182,136 $155,297 $61,903 ($166,438) $1,180,494 2024 2025 $1,199,325 $335,000 $345,357 $680,357 $45,532 $181,300 $239,280 $151,959 $62,286 $1,244,857 2025 2026 $1,207,695 $340,000 $325,257 $665,257 $45,532 $175,300 $233,280 $151,259 $59,886 $1,253,227 2026 2027 $778,822 $450,000 $304,857 $754,857 $150,532 $169,300 $227,280 $150,259 $57,486 $929,354 2027 2028 $440,525 $575,000 $277,857 $852,857 $154,232 $163,300 $321,280 $153,959 $60,086 $594,757 2028 2029 $440,475 $585,000 $243,357 $828,357 $152,332 $157,300 $309,280 $152,059 $57,386 $592,807 2029 2030 $365,500 $1,100,000 $214,107 $1,314,107 $151,332 $552,300 $399,280 $151,059 $60,136 $516,832 2030 2031 $347,100 $1,215,000 $159,107 $1,374,107 $155,082 $527,300 $484,280 $149,809 $57,636 $502,182 2031 2032 $348,700 $735,000 $92,768 $827,768 $152,711 $0 $462,440 $152,711 $59,906 $501,411 2032 2033 $350,000 $1,345,000 $59,987 $1,404,987 $151,467 $0 $1,044,600 $151,467 $57,453 $501,467 2033 2034 $351,000 $351,000 2034 2035 $351,700 $351,700 2035 2036 $351,780 $351,780 2036 2037 $351,220 $351,220 2037 $9,524,201 $7,045,000 $2,196,296 $9,241,296 $1,178,191 $2,045,968 $3,903,136 $1,519,838 $594,164 ($356,438) $10,345,953 (A) Existing Debt service is shown net of TID, Sewer, Water, and Stormwater offsets. (B) Net of hypothetical bid premium on estimated debt service in the amount of $60,995. Page | 2 Village of Little Chute Village Board – Plan of Finance November 1, 2023 Illustration of Debt Capacity: 5% of Village’s Equalized Valuation (TID-IN) $140,000,000 Remaining Debt Village Policy: Maintain 50% available capacity 100% Capacity: $44,711,775 99% 98% 99% $120,000,000 98% 96% 97% 96% 95% 93% 95% 90% $100,000,000 88% 85% 78% 81% 62% 68% 74% 60% 56% $80,000,000 66% 70% 61% $60,000,000 $40,000,000 $20,000,000 $0 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 Existing G.O. Principal Outstanding 2023 G.O. Borrowing Estimated Future CIP Remaining Debt Capacity Note: Future capacity based on 2023 Equalized Valuation (TID-IN) of $1,462,895,500 with annual growth of 2.50%. Future issues assume $12,610,000 in 2026 (Amortization: 10-20 years) and $7,475,000 in 2027 (Amortization: 10 years) (Per the 2024-28 CIP Plan). Page | 3  VILLAGE OF LITTLE CHUTE RESOLUTION NO. 21, SERIES 2023 RESOLUTION AUTHORIZING THE ISSUANCE AND ESTABLISHING PARAMETERS FOR THE SALE OF NOT TO EXCEED $7,045,000 GENERAL OBLIGATION PROMISSORY NOTES WHEREAS, the Village Board of the Village of Little Chute, Outagamie County, Wisconsin (the "Village") hereby finds and determines that it is necessary, desirable and in the best interest of the Village to raise funds for public purposes, including paying the cost of street improvement projects, storm sewer projects, water projects, park improvements, fire department projects, community development projects in Tax Incremental Districts No. 6 and 7 and other projects included in the Village's 2023 and 2024 Capital Improvement Plan (collectively, the "Project"); WHEREAS, the Village Board hereby finds and determines that the Project is within the Village's power to undertake and therefore serves a "public purpose" as that term is defined in Section 67.04(1)(b), Wisconsin Statutes; WHEREAS, villages are authorized by the provisions of Section 67.12(12), Wisconsin Statutes, to borrow money and issue general obligation promissory notes for such public purposes; WHEREAS, it is the finding of the Village Board that it is necessary, desirable and in the best interest of the Village to authorize the issuance of and to sell such general obligation promissory notes (the "Notes") to Robert W. Baird & Co. Incorporated (the "Purchaser"); WHEREAS, the Purchaser intends to submit a note purchase agreement to the Village (the "Proposal") offering to purchase the Notes in accordance with the terms and conditions to be set forth in the Proposal; and WHEREAS, in order to facilitate the sale of the Notes to the Purchaser in a timely manner, the Village Board hereby finds and determines that it is necessary, desirable and in the best interest of the Village to delegate to the Village Administrator or the Finance Director (each, an "Authorized Officer") of the Village the authority to accept the Proposal on behalf of the Village so long as the Proposal meets the terms and conditions set forth in this Resolution by executing a certificate in substantially the form attached hereto as Exhibit A and incorporated herein by this reference (the "Approving Certificate"). NOW, THEREFORE, BE IT RESOLVED by the Village Board of the Village that: Section 1. Authorization and Sale of the Notes; Parameters. For the purpose of paying the cost of the Project, there shall be borrowed pursuant to Section 67.12(12), Wisconsin Statutes, the aggregate principal sum of not to exceed SEVEN MILLION FORTY-FIVE THOUSAND DOLLARS ($7,045,000) from the Purchaser upon the terms and subject to the conditions set forth in this Resolution. Subject to satisfaction of the condition set forth in Section 16 of this Resolution, the President and Village Clerk are hereby authorized, empowered QB\85357505.1 and directed to make, execute, issue and sell to the Purchaser for, on behalf of and in the name of the Village, the Notes aggregating the principal amount of not to exceed SEVEN MILLION FORTY-FIVE THOUSAND DOLLARS ($7,045,000). The purchase price to be paid to the Village for the Notes shall not be less than 97.75% of the principal amount of the Notes and the difference between the initial public offering price of the Notes provided by the Purchaser and the purchase price to be paid to the Village by the Purchaser shall not exceed 2.25% of the principal amount of the Notes, with an amount not to exceed 1.25% of the principal amount of the Notes representing the Purchaser's compensation and an amount not to exceed 1.00% of the principal amount of the Notes representing costs of issuance, including bond insurance premium, if any, payable by the Purchaser or the Village. Section 2. Terms of the Notes. The Notes shall be designated "General Obligation Promissory Notes"; shall be issued in the aggregate principal amount of up to $7,045,000; shall be dated as of their date of issuance; shall be in the denomination of $5,000 or any integral multiple thereof; shall be numbered R-1 and upward; and shall mature or be subject to mandatory redemption on the dates and in the principal amounts set forth below, provided that the principal amount of each maturity or mandatory redemption amount may be increased or decreased by up to $700,000 per maturity or mandatory redemption amount; that any maturity or mandatory redemption payment may be eliminated; and that the aggregate principal amount of the Notes shall not exceed $7,045,000. The schedule below assumes the Notes are issued in the aggregate principal amount of $7,045,000. Date Principal Amount August 1, 2024 $ 365,000 August 1, 2025 335,000 August 1, 2026 340,000 August 1, 2027 450,000 August 1, 2028 575,000 August 1, 2029 585,000 August 1, 2030 1,100,000 August 1, 2031 1,215,000 August 1, 2032 735,000 August 1, 2033 1,345,000 Interest shall be payable semi-annually on February 1 and August 1 of each year commencing on August 1, 2024. The true interest cost on the Notes (computed taking the Purchaser's compensation into account) shall not exceed 5.50%. Interest shall be computed upon the basis of a 360-day year of twelve 30-day months and will be rounded pursuant to the rules of the Municipal Securities Rulemaking Board. Section 3. Redemption Provisions. The Notes shall not be subject to optional redemption or shall be callable as set forth in the Approving Certificate. If the Proposal specifies that certain of the Notes shall be subject to mandatory redemption, the terms of such mandatory redemption shall be set forth in an attachment to the Approving Certificate labeled as Schedule MRP. Upon the optional redemption of any of the Notes subject to mandatory redemption, the principal amount of such Notes so redeemed shall be credited against the mandatory redemption payments established in the Approving Certificate in such manner as the Village shall direct. -2- QB\85357505.1  Section 4. Form of the Notes. The Notes shall be issued in registered form and shall be executed and delivered in substantially the form attached hereto as Exhibit B and incorporated herein by this reference. Section 5. Tax Provisions. (A) Direct Annual Irrepealable Tax Levy. For the purpose of paying the principal of and interest on the Notes as the same becomes due, the full faith, credit and resources of the Village are hereby irrevocably pledged, and there is hereby levied upon all of the taxable property of the Village a direct annual irrepealable tax in the years 2023 through 2032 for the payments due in the years 2024 through 2033 in such amounts as are sufficient to meet the principal and interest payments when due. (B) Tax Collection. So long as any part of the principal of or interest on the Notes remains unpaid, the Village shall be and continue without power to repeal such levy or obstruct the collection of said tax until all such payments have been made or provided for. After the issuance of the Notes, said tax shall be, from year to year, carried onto the tax roll of the Village and collected in addition to all other taxes and in the same manner and at the same time as other taxes of the Village for said years are collected, except that the amount of tax carried onto the tax roll may be reduced in any year by the amount of any surplus money in the Debt Service Fund Account created below. (C) Additional Funds. If at any time there shall be on hand insufficient funds from the aforesaid tax levy to meet principal and/or interest payments on said Notes when due, the requisite amounts shall be paid from other funds of the Village then available, which sums shall be replaced upon the collection of the taxes herein levied. Section 6. Segregated Debt Service Fund Account. (A) Creation and Deposits. There shall be and there hereby is established in the treasury of the Village, if one has not already been created, a debt service fund, separate and distinct from every other fund, which shall be maintained in accordance with generally accepted accounting principles. Debt service or sinking funds established for obligations previously issued by the Village may be considered as separate and distinct accounts within the debt service fund. Within the debt service fund, there hereby is established a separate and distinct account designated as the "Debt Service Fund Account for General Obligation Promissory Notes - 2023" (the "Debt Service Fund Account") and such account shall be maintained until the indebtedness evidenced by the Notes is fully paid or otherwise extinguished. There shall be deposited into the Debt Service Fund Account (i) all accrued interest received by the Village at the time of delivery of and payment for the Notes; (ii) any premium which may be received by the Village above the par value of the Notes and accrued interest thereon; (iii) all money raised by the taxes herein levied and any amounts appropriated for the specific purpose of meeting principal of and interest on the Notes when due; (iv) such other sums as may be necessary at any time to pay principal of and interest on the Notes when due; (v) surplus monies in the Borrowed Money Fund as specified below; and (vi) such further deposits as may be required by Section 67.11, Wisconsin Statutes. -3- QB\85357505.1  (B) Use and Investment. No money shall be withdrawn from the Debt Service Fund Account and appropriated for any purpose other than the payment of principal of and interest on the Notes until all such principal and interest has been paid in full and the Notes canceled; provided (i) the funds to provide for each payment of principal of and interest on the Notes prior to the scheduled receipt of taxes from the next succeeding tax collection may be invested in direct obligations of the United States of America maturing in time to make such payments when they are due or in other investments permitted by law; and (ii) any funds over and above the amount of such principal and interest payments on the Notes may be used to reduce the next succeeding tax levy, or may, at the option of the Village, be invested by purchasing the Notes as permitted by and subject to Section 67.11(2)(a), Wisconsin Statutes, or in permitted municipal investments under the pertinent provisions of the Wisconsin Statutes ("Permitted Investments"), which investments shall continue to be a part of the Debt Service Fund Account. Any investment of the Debt Service Fund Account shall at all times conform with the provisions of the Internal Revenue Code of 1986, as amended (the "Code") and any applicable Treasury Regulations (the "Regulations"). (C) Remaining Monies. When all of the Notes have been paid in full and canceled, and all Permitted Investments disposed of, any money remaining in the Debt Service Fund Account shall be transferred and deposited in the general fund of the Village, unless the Village Board directs otherwise. Section 7. Proceeds of the Notes; Segregated Borrowed Money Fund. The proceeds of the Notes (the "Note Proceeds") (other than any premium and accrued interest which must be paid at the time of the delivery of the Notes into the Debt Service Fund Account created above) shall be deposited into a special fund (the "Borrowed Money Fund") separate and distinct from all other funds of the Village and disbursed solely for the purpose or purposes for which borrowed. Monies in the Borrowed Money Fund may be temporarily invested in Permitted Investments. Any monies, including any income from Permitted Investments, remaining in the Borrowed Money Fund after the purpose or purposes for which the Notes have been issued have been accomplished, and, at any time, any monies as are not needed and which obviously thereafter cannot be needed for such purpose(s) shall be deposited in the Debt Service Fund Account. Section 8. No Arbitrage. All investments made pursuant to this Resolution shall be Permitted Investments, but no such investment shall be made in such a manner as would cause the Notes to be "arbitrage bonds" within the meaning of Section 148 of the Code or the Regulations and an officer of the Village, charged with the responsibility for issuing the Notes, shall certify as to facts, estimates, circumstances and reasonable expectations in existence on the date of delivery of the Notes to the Purchaser which will permit the conclusion that the Notes are not "arbitrage bonds," within the meaning of the Code or Regulations. Section 9. Compliance with Federal Tax Laws. (a) The Village represents and covenants that the projects financed by the Notes and the ownership, management and use of the projects will not cause the Notes to be "private activity bonds" within the meaning of Section 141 of the Code. The Village further covenants that it shall comply with the provisions of the Code to the extent necessary to maintain the tax-exempt status of the interest on the Notes including, if applicable, the rebate requirements of Section 148(f) of the Code. The Village -4- QB\85357505.1 further covenants that it will not take any action, omit to take any action or permit the taking or omission of any action within its control (including, without limitation, making or permitting any use of the proceeds of the Notes) if taking, permitting or omitting to take such action would cause any of the Notes to be an arbitrage bond or a private activity bond within the meaning of the Code or would otherwise cause interest on the Notes to be included in the gross income of the recipients thereof for federal income tax purposes. The Village Clerk or other officer of the Village charged with the responsibility of issuing the Notes shall provide an appropriate certificate of the Village certifying that the Village can and covenanting that it will comply with the provisions of the Code and Regulations. (b) The Village also covenants to use its best efforts to meet the requirements and restrictions of any different or additional federal legislation which may be made applicable to the Notes provided that in meeting such requirements the Village will do so only to the extent consistent with the proceedings authorizing the Notes and the laws of the State of Wisconsin and to the extent that there is a reasonable period of time in which to comply. Section 10. Designation as Qualified Tax-Exempt Obligations. The Notes are hereby designated as "qualified tax-exempt obligations" for purposes of Section 265 of the Code, relating to the ability of financial institutions to deduct from income for federal income tax purposes, interest expense that is allocable to carrying and acquiring tax-exempt obligations. Section 11. Execution of the Notes; Closing; Professional Services. The Notes shall be issued in printed form, executed on behalf of the Village by the manual or facsimile signatures of the President and Village Clerk, authenticated, if required, by the Fiscal Agent (defined below), sealed with its official or corporate seal, if any, or a facsimile thereof, and delivered to the Purchaser upon payment to the Village of the purchase price thereof, plus accrued interest to the date of delivery (the "Closing"). The facsimile signature of either of the officers executing the Notes may be imprinted on the Notes in lieu of the manual signature of the officer but, unless the Village has contracted with a fiscal agent to authenticate the Notes, at least one of the signatures appearing on each Note shall be a manual signature. In the event that either of the officers whose signatures appear on the Notes shall cease to be such officers before the Closing, such signatures shall, nevertheless, be valid and sufficient for all purposes to the same extent as if they had remained in office until the Closing. The aforesaid officers are hereby authorized and directed to do all acts and execute and deliver the Notes and all such documents, certificates and acknowledgements as may be necessary and convenient to effectuate the Closing. The Village hereby authorizes the officers and agents of the Village to enter into, on its behalf, agreements and contracts in conjunction with the Notes, including but not limited to agreements and contracts for legal, trust, fiscal agency, disclosure and continuing disclosure, and rebate calculation services. Any such contract heretofore entered into in conjunction with the issuance of the Notes is hereby ratified and approved in all respects. Section 12. Payment of the Notes; Fiscal Agent. The principal of and interest on the Notes shall be paid by the Village Clerk or Village Treasurer/Finance Director (the "Fiscal Agent") unless a fiscal agent is specified in the Approving Certificate. Section 13. Persons Treated as Owners; Transfer of Notes. The Village shall cause books for the registration and for the transfer of the Notes to be kept by the Fiscal Agent. The person in whose name any Note shall be registered shall be deemed and regarded as the absolute -5- QB\85357505.1 owner thereof for all purposes and payment of either principal or interest on any Note shall be made only to the registered owner thereof. All such payments shall be valid and effectual to satisfy and discharge the liability upon such Note to the extent of the sum or sums so paid. Any Note may be transferred by the registered owner thereof by surrender of the Note at the office of the Fiscal Agent, duly endorsed for the transfer or accompanied by an assignment duly executed by the registered owner or his attorney duly authorized in writing. Upon such transfer, the President and Village Clerk shall execute and deliver in the name of the transferee or transferees a new Note or Notes of a like aggregate principal amount, series and maturity and the Fiscal Agent shall record the name of each transferee in the registration book. No registration shall be made to bearer. The Fiscal Agent shall cancel any Note surrendered for transfer. The Village shall cooperate in any such transfer, and the President and Village Clerk are authorized to execute any new Note or Notes necessary to effect any such transfer. Section 14. Record Date. The 15th day of the calendar month next preceding each interest payment date shall be the record date for the Notes (the "Record Date"). Payment of interest on the Notes on any interest payment date shall be made to the registered owners of the Notes as they appear on the registration book of the Village at the close of business on the Record Date. Section 15. Utilization of The Depository Trust Company Book-Entry-Only System. In order to make the Notes eligible for the services provided by The Depository Trust Company, New York, New York ("DTC"), the Village agrees to the applicable provisions set forth in the Blanket Issuer Letter of Representations, which the Village Clerk or other authorized representative of the Village is authorized and directed to execute and deliver to DTC on behalf of the Village to the extent an effective Blanket Issuer Letter of Representations is not presently on file in the Village Clerk's office. Section 16. Condition on Issuance and Sale of the Notes. The issuance of the Notes and the sale of the Notes to the Purchaser are subject to approval by an Authorized Officer of the principal amount, definitive maturities, redemption provisions, interest rates and purchase price for the Notes, which approval shall be evidenced by execution by an Authorized Officer of the Approving Certificate. The Notes shall not be issued, sold or delivered until this condition is satisfied. Upon satisfaction of this condition, an Authorized Officer is authorized to execute a Proposal with the Purchaser providing for the sale of the Notes to the Purchaser. Section 17. Official Statement. The Village Board hereby directs an Authorized Officer to approve the Preliminary Official Statement with respect to the Notes and deem the Preliminary Official Statement as "final" as of its date for purposes of SEC Rule 15c2-12 promulgated by the Securities and Exchange Commission pursuant to the Securities and Exchange Act of 1934 (the "Rule"). All actions taken by the Authorized Officer or other officers of the Village in connection with the preparation of such Preliminary Official Statement and any addenda to it or final Official Statement are hereby ratified and approved. In connection with the Closing, the appropriate Village official shall certify the Preliminary Official Statement and any -6- QB\85357505.1 addenda or final Official Statement. The Village Clerk shall cause copies of the Preliminary Official Statement and any addenda or final Official Statement to be distributed to the Purchaser. Section 18. Undertaking to Provide Continuing Disclosure. The Village hereby covenants and agrees, for the benefit of the owners of the Notes, to enter into a written undertaking (the "Undertaking") if required by the Rule to provide continuing disclosure of certain financial information and operating data and timely notices of the occurrence of certain events in accordance with the Rule. The Undertaking shall be enforceable by the owners of the Notes or by the Purchaser on behalf of such owners (provided that the rights of the owners and the Purchaser to enforce the Undertaking shall be limited to a right to obtain specific performance of the obligations thereunder and any failure by the Village to comply with the provisions of the Undertaking shall not be an event of default with respect to the Notes). To the extent required under the Rule, the President and Village Clerk, or other officer of the Village charged with the responsibility for issuing the Notes, shall provide a Continuing Disclosure Certificate for inclusion in the transcript of proceedings, setting forth the details and terms of the Village's Undertaking. Section 19. Record Book. The Village Clerk shall provide and keep the transcript of proceedings as a separate record book (the "Record Book") and shall record a full and correct statement of every step or proceeding had or taken in the course of authorizing and issuing the Notes in the Record Book. Section 20. Bond Insurance. If the Purchaser determines to obtain municipal bond insurance with respect to the Notes, the officers of the Village are authorized to take all actions necessary to obtain such municipal bond insurance. The President and Village Clerk are authorized to agree to such additional provisions as the bond insurer may reasonably request and which are acceptable to the President and Village Clerk including provisions regarding restrictions on investment of Note proceeds, the payment procedure under the municipal bond insurance policy, the rights of the bond insurer in the event of default and payment of the Notes by the bond insurer and notices to be given to the bond insurer. In addition, any reference required by the bond insurer to the municipal bond insurance policy shall be made in the form of Note provided herein. -7- QB\85357505.1  Section 21. Conflicting Resolutions; Severability; Effective Date. All prior resolutions, rules or other actions of the Village Board or any parts thereof in conflict with the provisions hereof shall be, and the same are, hereby rescinded insofar as the same may so conflict. In the event that any one or more provisions hereof shall for any reason be held to be illegal or invalid, such illegality or invalidity shall not affect any other provisions hereof. The foregoing shall take effect immediately upon adoption and approval in the manner provided by law. Adopted, approved and recorded November 1, 2023. _____________________________ Michael R. Vanden Berg President ATTEST: ____________________________ Laurie Decker Village Clerk (SEAL) -8- QB\85357505.1  EXHIBIT A Approving Certificate (See Attached) QB\85357505.1  APPROVING CERTIFICATE The undersigned [Village Administrator][Finance Director] of the Village of Little Chute, Outagamie County, Wisconsin (the "Village"), hereby certifies that: 1. Resolution. On November 1, 2023, the Village Board of the Village adopted a resolution (the "Resolution") authorizing the issuance and establishing parameters for the sale of not to exceed $7,045,000 General Obligation Promissory Notes of the Village (the "Notes") to Robert W. Baird & Co. Incorporated (the "Purchaser") and delegating to me the authority to approve the Preliminary Official Statement, to approve the purchase proposal for the Notes, and to determine the details for the Notes within the parameters established by the Resolution. 2. Preliminary Official Statement. The Preliminary Official Statement with respect to the Notes is hereby approved and deemed "final" as of its date for purposes of SEC Rule 15c2- 12 promulgated by the Securities and Exchange Commission pursuant to the Securities and Exchange Act of 1934. 3. Proposal; Terms of the Notes. On the date hereof, the Purchaser offered to purchase the Notes in accordance with the terms set forth in the Note Purchase Agreement between the Village and the Purchaser attached hereto as Schedule I (the "Proposal"). The Proposal meets the parameters established by the Resolution and is hereby approved and accepted. The Notes shall be issued in the aggregate principal amount of $__________, which is not more than the $7,045,000 approved by the Resolution, and shall mature on August 1 of each of the years and in the amounts and shall bear interest at the rates per annum as set forth in the Pricing Summary attached hereto as Schedule II and incorporated herein by this reference. The amount of each annual principal or mandatory redemption payment due on the Notes is not more than $700,000 more or less per maturity or mandatory redemption amount than the schedule included in the Resolution as set forth below: Date Resolution Schedule Actual Amount August 1, 2024 $ 365,000 $___________ August 1, 2025 335,000 ___________ August 1, 2026 340,000 ___________ August 1, 2027 450,000 ___________ August 1, 2028 575,000 ___________ August 1, 2029 585,000 ___________ August 1, 2030 1,100,000 ___________ August 1, 2031 1,215,000 ___________ August 1, 2032 735,000 ___________ August 1, 2033 1,345,000 ___________ The true interest cost on the Notes (computed taking the Purchaser's compensation into account) is _________%, which is not in excess of 5.50%, as required by the Resolution. QB\85357505.1  4. Purchase Price of the Notes. The Notes shall be sold to the Purchaser in accordance with the terms of the Proposal at a price of $_________, plus accrued interest, if any, to the date of delivery of the Notes, which is not less than 97.75% of the principal amount of the Notes, as required by the Resolution. The difference between the initial public offering price of the Notes provided by the Purchaser ($_________) and the purchase price to be paid to the Village by the Purchaser ($_________) is $_________, or _________% of the principal amount of the Notes, which does not exceed 2.25% of the principal amount of the Notes. The portion of such amount representing Purchaser's compensation is $_________, or not more than 1.25% of the principal amount of the Notes. The amount representing other costs of issuance [to be paid by the Village] is $_________, which does not exceed 1.00% of the principal amount of the Notes. 5. Redemption Provisions of the Notes. [The Notes are not subject to optional redemption.][The Notes maturing on August 1, ______ and thereafter are subject to redemption prior to maturity, at the option of the Village, on August 1, ______ or on any date thereafter. Said Notes are redeemable as a whole or in part, and if in part, from maturities selected by the Village, and within each maturity, by lot (as selected by the Depository), at the principal amount thereof, plus accrued interest to the date of redemption.] [The Proposal specifies that [some of] the Notes are subject to mandatory redemption. The terms of such mandatory redemption are set forth on an attachment hereto as Schedule MRP and incorporated herein by this reference. Upon the optional redemption of any of the Notes subject to mandatory redemption, the principal amount of such Notes so redeemed shall be credited against the mandatory redemption payments established in Schedule MRP for such Notes in such manner as the Village shall direct.] 6. [Payment of the Notes; Fiscal Agent. Pursuant to the Resolution, ______________________________, _________________, _________________, is named fiscal agent for the Notes.] 7. Direct Annual Irrepealable Tax Levy. For the purpose of paying the principal of and interest on the Notes as the same respectively falls due, the full faith, credit and taxing powers of the Village have been irrevocably pledged and there has been levied on all of the taxable property in the Village, pursuant to the Resolution, a direct, annual irrepealable tax in an amount and at the times sufficient for said purpose. Such tax shall be for the years and in the amounts set forth on the debt service schedule attached hereto as Schedule III. -2- QB\85357505.1  8. Approval. This Certificate constitutes my approval of the Proposal, and the principal amount, definitive maturities, interest rates, purchase price and redemption provisions for the Notes and the direct annual irrepealable tax levy to repay the Notes, in satisfaction of the parameters set forth in the Resolution. IN WITNESS WHEREOF, I have executed this Certificate on ________________, 2023 pursuant to the authority delegated to me in the Resolution. [ Beau Bernhoft Village Administrator] OR [ Lisa A. Remiker-DeWall Finance Director] -3- QB\85357505.1  SCHEDULE I TO APPROVING CERTIFICATE Proposal To be provided by the Purchaser and incorporated into the Certificate. (See Attached) QB\85357505.1  SCHEDULE II TO APPROVING CERTIFICATE Pricing Summary To be provided by the Purchaser and incorporated into the Certificate. (See Attached) QB\85357505.1  SCHEDULE III TO APPROVING CERTIFICATE Debt Service Schedule and Irrepealable Tax Levies To be provided by the Purchaser and incorporated into the Certificate. (See Attached) QB\85357505.1  [SCHEDULE MRP TO APPROVING CERTIFICATE Mandatory Redemption Provision The Notes due on August 1, ____, ____ and ____ (the "Term Bonds") are subject to mandatory redemption prior to maturity by lot (as selected by the Depository) at a redemption price equal to One Hundred Percent (100%) of the principal amount to be redeemed plus accrued interest to the date of redemption, from debt service fund deposits which are required to be made in amounts sufficient to redeem on August 1 of each year the respective amount of Term Bonds specified below: For the Term Bonds Maturing on August 1, 20 Redemption Date Amount ____ $______ ____ ______ ____ ______ (maturity) For the Term Bonds Maturing on August 1, 20 Redemption Date Amount ____ $______ ____ ______ ____ ______ (maturity) For the Term Bonds Maturing on August 1, 20 Redemption Date Amount ____ $______ ____ ______ ____ ______ (maturity) For the Term Bonds Maturing on August 1, 20 Redemption Date Amount ____ $______ ____ ______ ____ ______ (maturity)] QB\85357505.1  EXHIBIT B (Form of Note) UNITED STATES OF AMERICA REGISTERED STATE OF WISCONSIN DOLLARS OUTAGAMIE COUNTY NO. R-___ VILLAGE OF LITTLE CHUTE $_______ GENERAL OBLIGATION PROMISSORY NOTE MATURITY DATE: ORIGINAL DATE OF ISSUE: INTEREST RATE: CUSIP: August 1, _____ _________________ ____% ______ DEPOSITORY OR ITS NOMINEE NAME: CEDE & CO. PRINCIPAL AMOUNT: _______________________ THOUSAND DOLLARS ($__________) FOR VALUE RECEIVED, the Village of Little Chute, Outagamie County, Wisconsin (the "Village"), hereby acknowledges itself to owe and promises to pay to the Depository or its Nominee Name (the "Depository") identified above (or to registered assigns), on the maturity date identified above, the principal amount identified above, and to pay interest thereon at the rate of interest per annum identified above, all subject to the provisions set forth herein regarding redemption prior to maturity. Interest shall be payable semi-annually on February 1 and August 1 of each year commencing on August 1, 2024 until the aforesaid principal amount is paid in full. Both the principal of and interest on this Note are payable to the registered owner in lawful money of the United States. Interest payable on any interest payment date shall be paid by wire transfer to the Depository in whose name this Note is registered on the Bond Register maintained by [the Village Clerk or Village Treasurer/Finance Director][________________, ___________, ______] (the "Fiscal Agent") or any successor thereto at the close of business on the 15th day of the calendar month next preceding each interest payment date (the "Record Date"). This Note is payable as to principal upon presentation and surrender hereof at the office of the Fiscal Agent. For the prompt payment of this Note together with interest hereon as aforesaid and for the levy of taxes sufficient for that purpose, the full faith, credit and resources of the Village are hereby irrevocably pledged. This Note is one of an issue of Notes aggregating the principal amount of $___________, all of which are of like tenor, except as to denomination, interest rate[, redemption provision] and maturity date, issued by the Village pursuant to the provisions of Section 67.12(12), Wisconsin Statutes, for public purposes, including paying the cost of street improvement projects, storm sewer projects, water projects, park improvements, fire department projects, community development projects in Tax Incremental Districts No. 6 and 7 and other projects QB\85357505.1 included in the Village's 2023 and 2024 Capital Improvement Plan, as authorized by a resolution adopted on November 1, 2023, as supplemented by an Approving Certificate, dated ______________, 2023 [(the "Approving Certificate")] (collectively, the "Resolution"). The Resolution is recorded in the official minutes of the Village Board for said date. [This Note is not subject to optional redemption.] [The Notes maturing on August 1, ________ and thereafter are subject to redemption prior to maturity, at the option of the Village, on August 1, ________ or on any date thereafter. Said Notes are redeemable as a whole or in part, and if in part, from maturities selected by the Village, and within each maturity, by lot (as selected by the Depository), at the principal amount thereof, plus accrued interest to the date of redemption.] [The Notes maturing in the years ________ are subject to mandatory redemption by lot as provided in the Approving Certificate, at the redemption price of par plus accrued interest to the date of redemption and without premium.] [In the event the Notes are redeemed prior to maturity, as long as the Notes are in book-entry-only form, official notice of the redemption will be given by mailing a notice by registered or certified mail, overnight express delivery, facsimile transmission, electronic transmission or in any other manner required by the Depository, to the Depository not less than thirty (30) days nor more than sixty (60) days prior to the redemption date. If less than all of the Notes of a maturity are to be called for redemption, the Notes of such maturity to be redeemed will be selected by lot. Such notice will include but not be limited to the following: the designation, date and maturities of the Notes called for redemption, CUSIP numbers, and the date of redemption. Any notice provided as described herein shall be conclusively presumed to have been duly given, whether or not the registered owner receives the notice. The Notes shall cease to bear interest on the specified redemption date provided that federal or other immediately available funds sufficient for such redemption are on deposit at the office of the Depository at that time. Upon such deposit of funds for redemption the Notes shall no longer be deemed to be outstanding.] It is hereby certified and recited that all conditions, things and acts required by law to exist or to be done prior to and in connection with the issuance of this Note have been done, have existed and have been performed in due form and time; that the aggregate indebtedness of the Village, including this Note and others issued simultaneously herewith, does not exceed any limitation imposed by law or the Constitution of the State of Wisconsin; and that a direct annual irrepealable tax has been levied sufficient to pay this Note, together with the interest thereon, when and as payable. This Note has been designated by the Village Board as a "qualified tax-exempt obligation" pursuant to the provisions of Section 265(b)(3) of the Internal Revenue Code of 1986, as amended. -2- QB\85357505.1  This Note is transferable only upon the books of the Village kept for that purpose at the office of the Fiscal Agent, only in the event that the Depository does not continue to act as depository for the Notes, and the Village appoints another depository, upon surrender of the Note to the Fiscal Agent, by the registered owner in person or his duly authorized attorney, together with a written instrument of transfer (which may be endorsed hereon) satisfactory to the Fiscal Agent duly executed by the registered owner or his duly authorized attorney. Thereupon a new fully registered Note in the same aggregate principal amount shall be issued to the new depository in exchange therefor and upon the payment of a charge sufficient to reimburse the Village for any tax, fee or other governmental charge required to be paid with respect to such registration. The Fiscal Agent shall not be obliged to make any transfer of the Notes [(i)] after the Record Date[, (ii) during the fifteen (15) calendar days preceding the date of any publication of notice of any proposed redemption of the Notes, or (iii) with respect to any particular Note, after such Note has been called for redemption]. The Fiscal Agent and Village may treat and consider the Depository in whose name this Note is registered as the absolute owner hereof for the purpose of receiving payment of, or on account of, the principal or redemption price hereof and interest due hereon and for all other purposes whatsoever. The Notes are issuable solely as negotiable, fully-registered Notes without coupons in the denomination of $5,000 or any integral multiple thereof. [This Note shall not be valid or obligatory for any purpose until the Certificate of Authentication hereon shall have been signed by the Fiscal Agent.] No delay or omission on the part of the owner hereof to exercise any right hereunder shall impair such right or be considered as a waiver thereof or as a waiver of or acquiescence in any default hereunder. -3- QB\85357505.1  IN WITNESS WHEREOF, the Village of Little Chute, Outagamie County, Wisconsin, by its governing body, has caused this Note to be executed for it and in its name by the manual or facsimile signatures of its duly qualified President and Village Clerk; and to be sealed with its official or corporate seal, if any, all as of the original date of issue specified above. VILLAGE OF LITTLE CHUTE OUTAGAMIE COUNTY, WISCONSIN By: ______________________________ Michael R. Vanden Berg President (SEAL) By: ______________________________ Laurie Decker Village Clerk -4- QB\85357505.1 [Date of Authentication: _______________, ______. CERTIFICATE OF AUTHENTICATION This Note is one of the Notes of the issue authorized by the within-mentioned Resolution of the Village of Little Chute, Outagamie County, Wisconsin. _______________________ _________, _____________ By____________________________ Authorized Signatory] -5- QB\85357505.1  ASSIGNMENT FOR VALUE RECEIVED, the undersigned sells, assigns and transfers unto ____________________________________________________________________________ (Name and Address of Assignee) ____________________________________________________________________________ (Social Security or other Identifying Number of Assignee) the within Note and all rights thereunder and hereby irrevocably constitutes and appoints ______________________________________, Legal Representative, to transfer said Note on the books kept for registration thereof, with full power of substitution in the premises. Dated: _____________________ Signature Guaranteed: _____________________________ ________________________________ (e.g. Bank, Trust Company (Depository or Nominee Name) or Securities Firm) NOTICE: This signature must correspond with the name of the Depository or Nominee Name as it appears upon the face of the within Note in every particular, without alteration or enlargement or any change whatever. ____________________________ (Authorized Officer) -6- QB\85357505.1  Item For Consideration For Board Review On: November 1, 2023 Prepared On: October 19, 2023 Agenda Item Topic: Vacation Carryover Requests Prepared By: Finance Report: The Village’s personnel manual revised September 14, 2017, currently contains a vacation carryover request process that has become inefficient and obsolete given the growth in our employee population and current workloads. The Village has set a pre-determined limit for regular full-time employees to carryover 40 hours of vacation from one year to the next (setting a limit minimizes the cost to carryover as vacation is often paid out at higher rate in the subsequent year due to COLA and/or step increases). Employees send their vacation carryover requests to Department Heads for approval, they then forward the requests to the Village Administrator. Once the final list is received in payroll, it is often incorrect. There are many hands involved in the process and the timeline spans almost 2 months, increasing the potential for error. It may be helpful to know that denying an employee’s vacation carryover request is an extremely rare occurrence here in the Village. We want our employees to be able to take time away to refresh themselves. It’s also good internal control to have someone else complete their duties while they’re away. We would not deny the carryover of vacation up to 40 hours into the next year without considerable deliberation between the Department Head, Administrator and Human Resources Manager. The proposed process removes the need for employees to make written requests and the Village Administrator to deny/approve them. Instead, our Payroll & Benefits Specialist will compile a list of employees who have vacation to carryover and send it to Department Heads for approval. Any hours over 40 (pro-rated for regular part-time employees) will be forfeited. Any concerns identified by the Department Head or Payroll Specialist will be brought to the attention of the Administrator and Human Resources Manager. The following is an excerpt of the impacted policies with recommended edits struck through and in red.  Item For Consideration Policy 425 Vacation & Sick Leave  Policy 425.3.3 – Vacation earned shall be used during the calendar year (January 1 st through December 31st) in which it is earned. If not used, it is forfeited unless a carryover of vacation has been approved by the Department Head Village Administrator.  Policy 425.4.2 – An employee may request in writing a vacation carryover up to 40 hours (pro-rated for regular part time employees) of unused vacation leave from one year to the next for a maximum of 5 days of their vacation. This is subject to Department Head approval. The request shall be made to the Village Administrator no later than December 1st of each year. The Village Administrator has the discretion to approve or deny carryover these requests based on the employee’s performance, work history, workload and other factors that may affect Village operations. Fiscal Impact: No impact. This is a process change only with no alterations to the pre-determined limit of vacation carryover hours. Recommendation/Board Action: Staff recommends the board approve changes to the Employee Personnel Manual policies 425.3.3 and 425.4.2 as presented above. Respectfully Submitted, Penney Mack, Deputy Finance Director and Human Resources Manager  Item For Consideration For Board Review On: November 1, 2023 Prepared On: October 26, 2023 Agenda Item Topic: Dump Truck Cab and Chassis Prepared By: DPW Director Taylor Report: The 2023 Budget is detailed below along with purchases that have taken place or have been approved and pending to date. We received notice from Truck Country that we will only be granted one of two slots previously approved. We reached out to Packer International (second bidder) who responded they could not deliver. Next we contacted the final bidder Quality Truck Care Center who initially told us no but have since notified us that they have one unexpected slot available due to another municipality not moving forward; however, price is $144,871 (see attached). Fiscal Impact: Below is the impact to the Fleet Budget if we take this slot: (Over) Under Amended Fleet Budget Budget Actual Budget Dump Truck 2022‐2023 Carryover (Replace #7) 250,000 261,475 (11,475) Dump Truck 2023 (Replace # 80) 280,000 300,155 (20,155) Pick Up Truck 2022‐2023 Carryover (Replace #45) 25,000 21,170 3,830 Pick Up Truck 2023 (Replace # 82) 35,000 22,170 12,830 Pick Up Truck 2023 (Replace # 87) 35,000 ‐ 35,000 Pick Up Truck 2023 (Replace # 90) 35,000 39,693 (4,693) Utility Vehicle 2022‐2023 Carryover (Replace #36) 30,000 Reevaluating 30,000 690,000 644,663 45,337 Remaining Vehicles to Purchase 35,000 Variance to Total Amended Budget To Carryover/Address Utility Vehicle 10,337 USED VEHICLE PURCHASES FROM GREEN BAY Recommendation/Board Action: Based on priority needs, staff is recommending we accept the unexpected open slot from Quality Truck Center. We plan to reach back out to Green Bay if any vehicles may become available for our open truck replacement plus reevaluate possibilities for the utility vehicle replacement to stay within budget. We will request to carryover any unused funds to 2024 as we prioritize our needs with available funding. Respectfully Submitted, Kent Taylor, Department of Public Works