City of Madison, Wisconsin | Legislative Information Center
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File #: 57258    Version: 1 Name: General Obligation Corporate Purpose Bonds, Series 2019-B $29,810,000
Type: Resolution Status: Passed
File created: 8/28/2019 In control: Attorney's Office
On agenda: 9/3/2019 Final action: 9/17/2019
Enactment date: Enactment #: RES-19-00642
Title: Authorizing the issuance of $29,810,000 General Obligation Corporate Purpose Bonds, Series 2019-B, of the City of Madison, Wisconsin, providing the details thereof, establishing interest rates thereon and levying taxes therefor.
Sponsors: Satya V. Rhodes-Conway
Attachments: 1. 57258 Body.pdf, 2. Bid Tab - B.pdf, 3. Winning Bid Signed by the Purchaser-B.pdf, 4. FINAL Madison Bond Resolution Series B 2019.pdf

Fiscal Note

This resolution authorizes the issuance of general obligation corporate purpose bonds totaling $29,810,000 and an irrevocable property tax sufficient for the purpose of paying principal and interest on the notes.  These bonds will be used to finance current year capital improvements authorized in the 2019 capital budget.  A description of the specific expenditure purposes is included in the resolution.  The true interest cost of this series is 2.38%.  Repayment is scheduled over the next 20 years, including interest costs of $9.5 million.

 

 

Title

Authorizing the issuance of $29,810,000 General Obligation Corporate Purpose Bonds, Series 2019-B, of the City of Madison, Wisconsin, providing the details thereof, establishing interest rates thereon and levying taxes therefor.

Body

See attached Body.