SCJAX

About SCJAX

Franklin, Wisconsin Promissory Notes Series B are a form of municipal debt instrument issued by the City of Franklin. As general obligation promissory notes, their purpose is to finance various public projects and capital improvements approved by the city government, such as infrastructure development, equipment acquisition, and other community needs. These notes are backed by the full faith, credit, and taxing power of the City of Franklin, which means that the city is obligated to levy sufficient taxes on all taxable property within its jurisdiction to ensure timely payment of principal and interest. Notably, these notes are typically structured to comply with federal tax laws so that the interest income is exempt from federal income tax, although it is not exempt from Wisconsin state income or franchise taxes. The issuance of such promissory notes helps the city manage large expenditures by spreading the cost over multiple years, providing fiscal flexibility and supporting essential municipal services and development. Their credit quality is usually assessed by national rating agencies, often resulting in investment-grade ratings, reflecting the city’s financial stability and repayment reliability.