City of Racine - File #: 0150-20

• File #: 0150-20
• Version: A
• Name: Subject: Communication sponsored by Alder Levie, Alder Tate II, and Alder Jones requesting to reduce the interest rate residents would pay for city loan on assessed projects.
• Type: Communication
• Status: Passed
• File created: 3/4/2020
• In control: Finance and Personnel Committee
• On agenda: 8/5/2020
• Final action: 8/5/2020
• Title: Subject: Communication sponsored by Alder Levie, Alder Tate II, Alder Jones, and Alder Jung requesting to reduce the interest rate residents would pay for city loan on assessed projects. Recommendation of the Finance & Personnel Committee on 07-27-2020: To adopt the Ordinance as attached and written. Fiscal Note: The 2020 interest rate is 6%, beginning in 2021 the interest rate will be 4.5%.

Date	Ver.	Action By	Action	Result
8/5/2020	A	Common Council	Approved
7/27/2020	A	Finance and Personnel Committee	Recommended For Approval	Pass

Title

Subject: Communication sponsored by Alder Levie, Alder Tate II, Alder Jones, and Alder Jung requesting to reduce the interest rate residents would pay for city loan on assessed projects.

Recommendation of the Finance & Personnel Committee on 07-27-2020: To adopt the Ordinance as attached and written.

Fiscal Note: The 2020 interest rate is 6%, beginning in 2021 the interest rate will be 4.5%.