City of Racine - File #: 09-4193

• File #: 09-4193
• Version: A
• Name: Discuss refunding the City's outstanding 2009 Note Anticipation Notes.
• Type: Communication
• Status: Passed
• File created: 9/15/2009
• In control: Finance and Personnel Committee
• Final action: 11/3/2009
• Title: Subject: Communication from the Finance Director wishing to meet with the Finance & Personnel Committee to discuss refunding the City's outstanding 2009 Note Anticipation Notes. (Res.09-1717) Recommendation of the Finance & Personnel Committee on 10-12-09: To defer the item. Recommendation of the Finance & Personnel Committee on 10-26-09: The 2009 Capital Improvement Note Anticipation Notes maturing on December 15, 2009 be refunded utilizing the Taxable Build America Bonds. Fiscal Note: The refunding bonds will mature over a 14 year period. The principal amount should not exceed $7,755,000 with an anticipated interest rate of approximately 3.12%. Final amounts and rates will be determined in the market place.
• Related files: Res.09-1717

Date	Ver.	Action By	Action	Result
11/3/2009	A	Common Council	Approved as Presented	Pass
10/26/2009	A	Finance and Personnel Committee
10/12/2009	A	Finance and Personnel Committee
10/6/2009	A	Common Council	Referred

Title

Subject: Communication from the Finance Director wishing to meet with the Finance & Personnel Committee to discuss refunding the City's outstanding 2009 Note Anticipation Notes.  (Res.09-1717)

Recommendation of the Finance & Personnel Committee on 10-12-09:  To defer the item.

Recommendation of the Finance & Personnel Committee on 10-26-09:  The 2009 Capital Improvement Note Anticipation Notes maturing on December 15, 2009 be refunded utilizing the Taxable Build America Bonds.

Fiscal Note:  The refunding bonds will mature over a 14 year period.  The principal amount should not exceed $7,755,000 with an anticipated interest rate of approximately 3.12%.  Final amounts and rates will be determined in the market place.