City of Racine - File #: 0531-16

• File #: 0531-16
• Version: A
• Name: Bond Refinancing (Res Nos. 0266-16 & 0296-16)
• Type: Communication
• Status: Passed
• File created: 6/10/2016
• In control: Finance and Personnel Committee
• Final action: 8/1/2016
• Title: Subject: Communication from the General Manager Presenting a Refinancing Opportunity for a 2007 Bond Issue - Brad Viegut from R. W. Baird Invited to the Meeting (Res Nos. 0266-16 & 0296-16) Recommendation of the Racine Waterworks Commission on 6/28/16: To approve Recommendation of the Finance & Personnel Committee on 7/25/16: Approve refinancing the callable maturities of the April 7, 2007 Water System Mortgage Revenue Refunding Bonds for calendar years 2017-2020. Fiscal Note: Refinancing of this bond issue has the potential of saving the Water Utility approximately $365,000 over the remaining five years of the loan.
• Related files: Res.0296-16, Res.0266-16

Date	Ver.	Action By	Action	Result
8/1/2016	A	Common Council	Approved as Presented	Pass
7/25/2016	A	Finance and Personnel Committee	Recommended For Approval	Pass
7/5/2016	A	Common Council	Referred
6/28/2016	A	Waterworks Commission	Recommended For Approval	Pass

Title

Subject: Communication from the General Manager Presenting a Refinancing Opportunity for a 2007 Bond Issue - Brad Viegut from R. W. Baird Invited to the Meeting (Res Nos. 0266-16 & 0296-16)

Recommendation of the Racine Waterworks Commission on 6/28/16: To approve

Recommendation of the Finance & Personnel Committee on 7/25/16: Approve refinancing the callable maturities of the April 7, 2007 Water System Mortgage Revenue Refunding Bonds for calendar years 2017-2020. 

Fiscal Note: Refinancing of this bond issue has the potential of saving the Water Utility approximately $365,000 over the remaining five years of the loan.