City of Madison - File #: 11983

• File #: 11983
• Version: 1
• Name: Authorizing the issuance of $58,000,000 General Obligation Promissory Notes, Series 2008-A, of the City of Madison, Wisconsin, providing the details thereof, establishing interest rates thereon and levying taxes therefor.
• Type: Resolution
• Status: Passed
• File created: 9/10/2008
• In control: BOARD OF ESTIMATES (ended 4/2017)
• On agenda: 10/7/2008
• Final action: 10/7/2008
• Enactment date: 10/9/2008
• Enactment #: RES-08-00963
• Title: Authorizing the issuance of $58,000,000 General Obligation Promissory Notes, Series 2008-A, of the City of Madison, Wisconsin, providing the details thereof, establishing interest rates thereon and levying taxes therefor.
• Sponsors: David J. Cieslewicz

Date	Ver.	Action By	Action	Result
10/7/2008	1	BOARD OF ESTIMATES (ended 4/2017)	RECOMMEND TO COUNCIL TO ADOPT (15 VOTES REQUIRED) - REPORT OF OFFICER	Pass
10/7/2008	1	COMMON COUNCIL	Adopt	Pass
9/16/2008	1	COMMON COUNCIL	Referred

Fiscal Note

These Notes will finance projects included in the 2008 capital budget.  The principal repayment and interest cost will be included in the 2009 and future years' operating budgets.  This resolution authorizes the City to borrow $58,000,000 at a true interest cost of 3.823621% through the issuance of tax exempt General Obligation Promissory Notes and levies an irrevocable property tax sufficient for the purpose of paying principal and interest on the Notes.

Title

Authorizing the issuance of $58,000,000 General Obligation Promissory Notes, Series 2008-A, of the City of Madison, Wisconsin, providing the details thereof, establishing interest rates thereon and levying taxes therefor.

Body

See Attachment.