City of Madison - File #: 67105

• File #: 67105
• Version: 1
• Name: General Obligation Promissory Notes, Series 2021-A
• Type: Resolution
• Status: Passed
• File created: 8/24/2021
• In control: Attorney's Office
• On agenda: 8/31/2021
• Final action: 9/21/2021
• Enactment date: 9/21/2021
• Enactment #: RES-21-00622
• Title: Resolution authorizing the issuance of $81,300,000 General Obligation Promissory Notes, Series 2021-A, of The City of Madison, Wisconsin, providing the details thereof, establishing interest rates thereon and levying taxes therefor
• Sponsors: Satya V. Rhodes-Conway

Date	Ver.	Action By	Action	Result
9/21/2021	1	COMMON COUNCIL	Adopt Unanimously	Pass
9/21/2021	1	FINANCE COMMITTEE
8/31/2021	1	COMMON COUNCIL	Referred
8/24/2021	1	Attorney's Office	Referred for Introduction

Fiscal Note

This resolution authorizes the issuance of general obligation promissory notes totaling $81.3 million and an irrevocable property tax sufficient for the purpose of paying principal and interest on the notes.  These notes will be used to finance current year capital improvements authorized in the 2021 capital budget.  A description of the specific expenditure purposes is included in the resolution.  The true interest cost of this series is 0.94%.  Repayment is scheduled over the next 10 years, including $11.6 million in interest payments

Title
Resolution authorizing the issuance of $81,300,000 General Obligation Promissory Notes, Series 2021-A, of The City of Madison, Wisconsin, providing the details thereof, establishing interest rates thereon and levying taxes therefor

Body

Please see "67105 Body" in Attachments