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File #: 0168-21    Version: A Name: Subject: Bond Refinance (Brad Viegut, Baird invited)
Type: Communication Status: Passed
File created: 3/3/2021 In control: Finance and Personnel Committee
On agenda: 4/19/2021 Final action: 4/19/2021
Title: Subject: Communication sponsored by Alder Taft, presenting the financing plan for the refunding of the 2012 Waterworks System Mortgage Revenue Bonds and Resolution Authorizing the Issuance and Establishing Parameters for the Sale of Not to Exceed $5,000,000 in Waterworks System Mortgage Revenue Refunding Bonds. Recommendation of the Waterworks Commission on March 16, 2021: Approve and Refer to the Finance and Personnel Committee. Recommendation of the Finance and Personnel Committee on 04-12-2021: Authorize the Issuance and Establishing Parameters for the Sale of Not to Exceed $5,000,000 in Waterworks System Mortgage Revenue Refunding Bonds for the purpose of refinancing the 2012 Waterworks System Mortgage Revenue Bonds. Fiscal Note: No new money will be included in the issue. Estimated present value savings from the refinancing is $242,469.
Attachments: 1. bond refinance opportunity, 2. prs plan of finance_racine finance committee 041221.pdf, 3. Racine 2_Resolution.pdf, 4. #0168-21 Resolution, 5. Racine 1_Resolution.pdf

Title

Subject: Communication sponsored by Alder Taft, presenting the financing plan for the refunding of the 2012 Waterworks System Mortgage Revenue Bonds and Resolution Authorizing the Issuance and Establishing Parameters for the Sale of Not to Exceed $5,000,000 in Waterworks System Mortgage Revenue Refunding Bonds.

 

Recommendation of the Waterworks Commission on March 16, 2021: Approve and Refer to the Finance and Personnel Committee.

 

Recommendation of the Finance and Personnel Committee on 04-12-2021: Authorize the Issuance and Establishing Parameters for the Sale of Not to Exceed $5,000,000 in Waterworks System Mortgage Revenue Refunding Bonds for the purpose of refinancing the 2012 Waterworks System Mortgage Revenue Bonds.

 

Fiscal Note: No new money will be included in the issue. Estimated present value savings from the refinancing is $242,469.