Note Classes and Notes not respecting text editor settings

Customer is asking why an Event List note does not reflect any of the formatting she adds to the text editor when creating the note.  

Customer has a “Web Description” note class that is designated as their Event Description Note Class in their Event List configuration for ESC.   The default font size and default font family is set at the Note Class.  However,  when they add the note class to the event, they occasionally want to add bold or underlined text to the note.  Despite the settings they choose in the text editor when adding the note, it does not respect this formatting in the Event List display.  

Some have suggested that there is an HTML Control Type that can be utilized but AskMo doesn't find any results for that topic and has no other suggestions on how to make the text editor settings appear in the Event List.  

What is the expected behavior here?  Is this possible?  If so, can we get an updated article in the KB to reflect the information? 

Martin Stephens Seth Halvaksz Anthony Costantino