City of Racine - File #: 0891-23

• File #: 0891-23
• Version: A
• Name: Subject: Communication sponsored by Alder West, on behalf of the Wastewater Utility Director, regarding a Resolution authorizing the issuance and sale of up to $5,749,015 Wastewater Utility Revenue Bonds, series 2023a, and providing for other details and
• Type: Communication
• Status: Passed
• File created: 9/7/2023
• In control: Finance and Personnel Committee
• On agenda: 9/19/2023
• Final action: 9/19/2023
• Title: Subject: Communication sponsored by Alder West, on behalf of the Wastewater Utility Director, regarding a Resolution authorizing the issuance and sale of up to $5,749,015 Wastewater Utility Revenue Bonds, series 2023a, and providing for other details and covenants with respect thereto Recommendation of the Finance and Personnel Committee on 09-11-2023: Via resolution #0552-21 the Common Council approved the initial declaration of intent to reimburse using the Department of Natural Resources Clean Water Fund Loan Program for this project. Recommendation is to approve a Resolution authorizing the issuance and sale of up to $5,749,015 Wastewater Utility Revenue Bonds, series 2023a, and providing for other details and covenants with respect thereto, and have the Mayor and City Clerk sign and execute all necessary documents. Recommendation of the Wastewater Commission on 09-19-2023: To approve a Resolution authorizing the issuance and sale of up to $5,749,015 Wastewater Utility Revenue ...

Date	Ver.	Action By	Action	Result
9/19/2023	A	Wastewater Commission	Approved	Pass
9/19/2023	A	Common Council	Approved as Presented	Pass
9/11/2023	A	Finance and Personnel Committee	Recommended For Approval

Title

Subject: Communication sponsored by Alder West, on behalf of the Wastewater Utility Director, regarding a Resolution authorizing the issuance and sale of up to $5,749,015 Wastewater Utility Revenue Bonds, series 2023a, and providing for other details and covenants with respect thereto

Recommendation of the Finance and Personnel Committee on 09-11-2023: Via resolution #0552-21 the Common Council approved the initial declaration of intent to reimburse using the Department of Natural Resources Clean Water Fund Loan Program for this project.  Recommendation is to approve a Resolution authorizing the issuance and sale of up to $5,749,015 Wastewater Utility Revenue Bonds, series 2023a, and providing for other details and covenants with respect thereto, and have the Mayor and City Clerk sign and execute all necessary documents.

Recommendation of the Wastewater Commission on 09-19-2023: To approve a Resolution authorizing the issuance and sale of up to $5,749,015 Wastewater Utility Revenue Bonds, series 2023a, and providing for other details and covenants with respect thereto, and have the Mayor and City Clerk sign and execute all necessary documents pending approval by Common Council.

Fiscal Note: The Wastewater Utility Revenue Bonds (Clean Water Fund Loan) is in the amount of $5,749,015. Loan is for 20 years and has an interest rate of 2.1450%.