City of Madison - File #: 27514

• File #: 27514
• Version: 2
• Name: Central Library Borrowing Resolution
• Type: Resolution
• Status: Passed
• File created: 8/27/2012
• In control: BOARD OF ESTIMATES (ended 4/2017)
• On agenda: 9/18/2012
• Final action: 9/18/2012
• Enactment date: 9/20/2012
• Enactment #: RES-12-00738
• Title: SUBSTITUTE -- Authorizing the Issuance of $15,210,000 General Obligation Corporate Purpose Bonds, Series 2012-C, of the City of Madison, Wisconsin, Providing the Details Thereof, Establishing Interest Rates Thereon and Levying Taxes Therefore.
• Sponsors: Paul R. Soglin, Michael E. Verveer

Date	Ver.	Action By	Action	Result
9/18/2012	2	COMMON COUNCIL	Adopt - 15 Votes Required	Pass
9/18/2012	2	BOARD OF ESTIMATES (ended 4/2017)	RECOMMEND TO COUNCIL TO ADOPT (15 VOTES REQUIRED) - REPORT OF OFFICER	Pass
9/4/2012	1	COMMON COUNCIL	Referred
8/27/2012	1	Attorney's Office	Referred for Introduction

Fiscal Note

This resolution authorizes the issuance of general obligation corporate purpose bonds totaling $15,210,000 and an irrevocable property tax sufficient for the purpose of paying principal and interest on the bonds.  These bonds will be used to fund a portion of the Central Library renovation project that is included in the 2012 capital budget.  The true interest cost of this series is 2.527%.  Repayment is scheduled over the next 20 years.

A summary of the winning bid and all other bidders for this series is provided in separate Legistar attachments.

Title

SUBSTITUTE -- Authorizing the Issuance of $15,210,000 General Obligation Corporate Purpose Bonds, Series 2012-C, of the City of Madison, Wisconsin, Providing the Details Thereof, Establishing Interest Rates Thereon and Levying Taxes Therefore.

Body

See attached.