City of Madison, Wisconsin | Legislative Information Center
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File #: 27514    Version: 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
Attachments: 1. Summary of Bids.pdf, 2. Madison Bond Resolution - final.pdf, 3. Winning Bid Signed by the Purchaser - C.pdf
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.