City of Racine - File #: 14-10686

• File #: 14-10686
• Version: A
• Name: Communication to have Robert W. Baird address Finance and Personnel Committee (Res. No. 14-0437)
• Type: Communication
• Status: Passed
• File created: 10/20/2014
• In control: Finance and Personnel Committee
• Final action: 11/5/2014
• Title: Subject: Communication from the Finance Director requesting Brad Viegut, Director from Robert W. Baird and Company, address the Finance and Personnel Committee at their next scheduled meeting on Monday, October 27, 2014 to discuss refunding certain outstanding debt obligations. (Res. No. 14-0437) Recommendation of the Finance and Personnel Committee on 10-27-14: Recommend the issuance of Refunding Bonds for the 2014 Note Anticipation Note. Further recommend issuance of additional Refunding Bonds to refinance certain callable portions of the City's 2006B, 2007A and 2008 Bonds contingent on a minimum 2.00% present value savings. Fiscal Note: The present value savings of refunding the 2006B, 2007A and 2008 Bonds is currently estimated at $321,000 and will result in lower debt service tax levies over the next eleven years.
• Related files: Res.14-0437

Date	Ver.	Action By	Action	Result
11/5/2014	A	Common Council	Approved as Presented	Pass
10/27/2014	A	Finance and Personnel Committee	Recommended For Approval	Pass
10/21/2014	A	Common Council	Referred

Title

Subject:  Communication from the Finance Director requesting Brad Viegut, Director from Robert W. Baird and Company, address the Finance and Personnel Committee at their next scheduled meeting on Monday, October 27, 2014 to discuss refunding certain outstanding debt obligations. (Res. No. 14-0437)

Recommendation of the Finance and Personnel Committee on 10-27-14: Recommend the issuance of Refunding Bonds for the 2014 Note Anticipation Note. Further recommend issuance of additional Refunding Bonds to refinance certain callable portions of the City's 2006B, 2007A and 2008 Bonds contingent on a minimum 2.00% present value savings.  

Fiscal Note: The present value savings of refunding the 2006B, 2007A and 2008 Bonds is currently estimated at $321,000 and will result in lower debt service tax levies over the next eleven years.