Fiscal Note
See attachment to legislative file for fiscal note.
Title
Final Resolution authorizing the issuance and sale of $19,300,000 total principal amount Industrial Development Revenue Refunding bonds (Madison Gas and Electric Company Project), Series 2020A, of the City of Madison, Wisconsin; and authorizing the execution and delivery of all necessary and related agreements and documents.
Body
WHEREAS, pursuant to and in accordance with the provisions of Section 66.1103, Wisconsin Statutes (the “Act”), the City of Madison, Dane County, Wisconsin (the “Issuer”) has the authority (i) to borrow money and issue industrial development revenue bonds (a) to finance all or part of the costs of industrial projects, including facilities for the generation, manufacturing, transmission, or distribution of electric energy or gas and (b) to refund the whole or any part of any revenue bonds theretofore issued by the Issuer; and (ii) to enter into revenue agreements with eligible participants with respect to such revenue bonds; and,
WHEREAS, on December 23, 1982, the Issuer issued $25,000,000 aggregate principal amount of its Industrial Development Revenue Bonds, Series 1982 (Madison Gas and Electric Company Project) (the “Series 1982 Bonds”) to finance costs of certain electric transmission and distribution facilities in Dane County, Wisconsin (the “1982 Project”) owned and operated by the Company, and certain other capital costs of the Company; and,
WHEREAS, on October 28, 1992, the Issuer issued its Industrial Development Revenue Refunding Bonds, Series 1992B (Madison Gas and Electric Company Project) (the “Series 1992B Bonds”) to refund in whole the Series 1982 Bonds; and,
WHEREAS, on April 25, 2002, the Issuer issued its $19,300,000 principal amount Industrial Development Revenue Refunding Bonds, Series 2002B (Madison Gas and Electric Company Project) (the “Series 2002B Bonds”) to refund in whole the Series 1992B Bonds; and,
WHEREAS, pursuant to and in accordanc...
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