Madison, WI Header
File #: 02001    Version: 1 Name: general obligation promissory notes - 2005-B
Type: Resolution Status: Passed
File created: 9/6/2005 In control: BOARD OF ESTIMATES (ended 4/2017)
On agenda: 9/20/2005 Final action: 9/20/2005
Enactment date: 9/27/2005 Enactment #: RES-05-00758
Title: Authorizing the issuance of $4,380,000 Taxable General Obligation Promissory Notes, Series 2005-B, of the City of Madison, Wisconsin, providing the details thereof, establishing interest rates thereon and levying taxes therefor.
Sponsors: David J. Cieslewicz
Attachments: 1. Kutak Rock - Firm Library-4829-3384-7552.1.pdf, 2. Kutak Rock-4829-3384-7552-1-Sum of Bid.pdf, 3. Kutak Rock-4829-3384-7552-1-Winning Bid.pdf, 4. bondbidtax.pdf
Date Ver.Action ByActionResultAction DetailsMeeting DetailsWatch
9/20/20051 COMMON COUNCIL AdoptPass Action details Meeting details Not available
9/20/20051 BOARD OF ESTIMATES (ended 4/2017) RECOMMEND TO COUNCIL TO ADOPT (15 VOTES REQUIRED) - REPORT OF OFFICERPass Action details Meeting details Not available
9/20/20051 Finance Dept/Approval Group Refer  Action details Meeting details Not available
9/20/20051 Attorney's Office Fiscal Note Required / Approval  Action details Meeting details Not available
9/20/20051 Finance Dept/Approval Group Refer  Action details Meeting details Not available
9/20/20051 Attorney's Office Fiscal Note Required / Approval  Action details Meeting details Not available
9/20/20051 Finance Dept/Approval Group Approved Fiscal Note By The Comptroller's Office  Action details Meeting details Not available
9/19/20051 PLAN COMMISSION Return to Lead with the Recommendation for ApprovalPass Action details Meeting details Not available
9/13/20051 Attorney's Office Fiscal Note Required / Approval  Action details Meeting details Not available
9/6/20051 Attorney's Office Referred for Introduction  Action details Meeting details Not available
9/6/20051 COMMON COUNCIL ReferPass Action details Meeting details Not available
9/6/20051 BOARD OF ESTIMATES (ended 4/2017) Refer  Action details Meeting details Not available
Fiscal Note
These Notes will finance a portion of the City's participation in the Avalon Madison Village and Monroe Commons development projects.  Due to the private business uses for which these funds will be disbursed, the City's borrowing is not eligible for tax exempt status.  The principal repayment and interest cost will be included in the 2006 and future years' operating budgets.  It is anticipated that the debt service associated with this borrowing will be repaid by TIF increment.  This resolution authorizes the City to borrow $4,380,000 at a true interest cost of 4.621556% through the issuance of taxable General Obligation Promissory Notes and levies an irrevocable property tax sufficient for the purposes of paying principal and interest on the Notes.
Title
Authorizing the issuance of $4,380,000 Taxable General Obligation Promissory Notes, Series 2005-B, of the City of Madison, Wisconsin, providing the details thereof, establishing interest rates thereon and levying taxes therefor.
Body
See Attachments for Body of Text