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File #: 10-5620    Version: A Name: 2011 CIP Interim Financing Options
Type: Communication Status: Passed
File created: 9/21/2010 In control: Finance and Personnel Committee
On agenda: Final action: 10/19/2010
Title: Subject: Interim Financing Options for the 2011 Water Capital Improvement Program (Res.10-2224) Recommendation of the Racine Waterworks Commission on 9-28-10: Refer to the Finance and Personnel Committee for approval. Recommendation of the Finance & Personnel Committee on 10-11-10: Authorization be granted for the Racine Water Utility to make expenditures as needed from funds on hand, located in the Water fund and/or possibly a short term loan from the City of Racine to pay the costs of planning, engineering and construction of these improvements until the revenue bond proceeds become available. Fiscal note: Reimbursement of expenditures with proceeds of the revenue bond issuance, the aggregate principle amount of debt expected to exceed $6,000,000.
Attachments: 1. mcc wa short term borrowing option 2011 cip.pdf, 2. Comfort resolution 2011 borrowing.pdf
Related files: Res.10-2224
Title
Subject: Interim Financing Options for the 2011 Water Capital Improvement Program  (Res.10-2224)
 
Recommendation of the Racine Waterworks Commission on 9-28-10: Refer to the Finance and Personnel Committee for approval.
 
Recommendation of the Finance & Personnel Committee on 10-11-10:  Authorization be granted for the Racine Water Utility to make expenditures as needed from funds on hand, located in the Water fund and/or possibly a short term loan from the City of Racine to pay the costs of planning, engineering and construction of these improvements until the revenue bond proceeds become available.
 
Fiscal note:  Reimbursement of expenditures with proceeds of the revenue bond issuance, the aggregate principle amount of debt  expected to exceed $6,000,000.