Fiscal Note
This resolution authorizes the Water Utility to borrow $1,475,000 through the issuance of taxable revenue bonds as part of a larger refinancing of all outstanding Water Utility debt. The proceeds of this issuance will be used to fully refund the remaining outstanding bonds issued by the Water Utility on March 1, 2005. These bonds, which sold at a true interest cost of 2.73%, are secured by the current and future revenues of the Water Utility. A summary of the single winning bid is provided as a separate attachment.
Title
A Resolution authorizing and providing for the sale and issuance of $1,530,000* Taxable Water Utility Revenue Refunding Bonds, Series 2009B, and all related details
Body
See attached Resolution.