City of Racine - File #: 09-4172

• File #: 09-4172
• Version: A
• Name: R. W. Baird Presentation - 2010 CIP Borrowing
• Type: Communication
• Status: Passed
• File created: 9/11/2009
• In control: Finance and Personnel Committee
• Final action: 11/3/2009
• Title: Subject: Presentation from R. W. Baird on the Status of 2010 Capital Borrowing for the Water Utility (Res.09-1716) Recommendation of the Racine Waterworks Commission of 9-29-09: To adopt the use of the Traditional Tax-Exempt Borrowing plan. Refer to the Finance and Personnel Committee. Recommendation of the Finance & Personnel Committee on 10-12-09: Recommends approval for the Waterworks Commission to obtain Waterworks System Mortgage Revenue Bonds to cover Capital Expenditures for the Water Utility. Fiscal Note: The principal amount should not exceed $3,500,000 with an anticipated interest rate of approximately 5.17%. Final amounts and rates will be determined in the market place.
• Related files: Res.09-1716

Date	Ver.	Action By	Action	Result
11/3/2009	A	Common Council	Approved as Presented	Pass
10/26/2009	A	Finance and Personnel Committee
10/6/2009	A	Common Council	Referred
9/29/2009	A	Waterworks Commission	Recommended For Adoption	Pass

Title

Subject: Presentation from R. W. Baird on the Status of 2010 Capital Borrowing for the Water Utility  (Res.09-1716)

Recommendation of the Racine Waterworks Commission of 9-29-09: To adopt the use of the Traditional Tax-Exempt Borrowing plan.  Refer to the Finance and Personnel Committee.

Recommendation of the Finance & Personnel Committee on 10-12-09: Recommends approval for the Waterworks Commission to obtain Waterworks System Mortgage Revenue Bonds to cover Capital Expenditures for the Water Utility.

Fiscal Note:  The principal amount should not exceed $3,500,000 with an anticipated interest rate of approximately 5.17%.  Final amounts and rates will be determined in the market place.