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File #: 0695-24    Version: A Name: Subject: Communication sponsored by Alder McCarthy, on behalf of the Racine Waterworks Utility Director, requesting a resolution authorizing the Issuance and sale of up to $19,675,190 Waterworks System Revenue Bonds, Series 2024, and Providing for Other D
Type: Communication Status: Passed
File created: 8/9/2024 In control: Finance and Personnel Committee
On agenda: 8/20/2024 Final action: 8/20/2024
Title: Subject: Communication sponsored by Alder McCarthy, on behalf of the Racine Waterworks Utility Director, requesting a resolution authorizing the Issuance and sale of up to $19,675,190 Waterworks System Revenue Bonds, Series 2024, and Providing for Other Details and Covenants with Respect Thereto. Recommendation of the Waterworks Commission on 07/16/2024: To Approve with a Referral to the Finance & Personnel Committee. Recommendation of the Finance and Personnel Committee on 08-12-2024: That the Racine Waterworks Utility Directors request for a resolution authorizing the Issuance and sale of up to $19,675,190 Waterworks System Revenue Bonds, Series 2024, and Providing for Other Details and Covenants with Respect Thereto be approved. Fiscal Note: Financial Assistance Agreement funded through the state Safe Drinking Water Loan Program is in the amount of $19,675,190.00, with a loan term of 20 years at a 2.365% rate.
Attachments: 1. bond resolution_waterworks system revenue bonds_2024, 2. #0695-24 Resolution

Title

Subject: Communication sponsored by Alder McCarthy, on behalf of the Racine Waterworks Utility Director, requesting a resolution authorizing the Issuance and sale of up to $19,675,190 Waterworks System Revenue Bonds, Series 2024, and Providing for Other Details and Covenants with Respect Thereto.

 

Recommendation of the Waterworks Commission on 07/16/2024: To Approve with a Referral to the Finance & Personnel Committee.

 

Recommendation of the Finance and Personnel Committee on 08-12-2024: That the Racine Waterworks Utility Directors request for a resolution authorizing the Issuance and sale of up to $19,675,190 Waterworks System Revenue Bonds, Series 2024, and Providing for Other Details and Covenants with Respect Thereto be approved.

 

Fiscal Note: Financial Assistance Agreement funded through the state Safe Drinking Water Loan Program is in the amount of $19,675,190.00, with a loan term of 20 years at a 2.365% rate.