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.