CHICAGO — A group of investors who hold a piece of Menasha’s $24 million of city appropriation-backed steam plant revenue bond anticipation notes allege in a federal lawsuit filed earlier this month that the Wisconsin city committed fraud in misrepresenting its intent to repay the now-defaulted notes.

“We hope the city makes a good faith attempt to develop a plan to pay its obligations to the noteholders who trusted the city when they made this investment,” said Michael Wukmer, an attorney at Ice Miller LLP representing bondholders who filed the lawsuit.

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