City of Madison, Wisconsin | Legislative Information Center
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File #: 61921    Version: 1 Name: Gneral Obligation Corporate Purpose Bonds, Series 2020-B
Type: Resolution Status: Passed
File created: 8/25/2020 In control: Attorney's Office
On agenda: 9/1/2020 Final action: 9/15/2020
Enactment date: 9/15/2020 Enactment #: RES-20-00675
Title: Authorizing the issuance of $22,600,000 General Obligation Corporate Purpose Bonds, Series 2020-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. 61921 Body.pdf, 2. Bid Tab 2020-B.pdf, 3. Winning Bid Signed by the Purchaser 2020-B.pdf, 4. Series B Bonds 61921.pdf

Fiscal Note

This resolution authorizes the issuance of general obligation corporate purpose bonds totaling $22,600,000 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 2020 capital budget.  A description of the specific expenditure purposes is included in the resolution.  The true interest cost of this series is 1.53%.  Repayment is scheduled over the next 20 years, including interest costs of $5.0 million.

 

Title

Authorizing the issuance of $22,600,000 General Obligation Corporate Purpose Bonds, Series 2020-B, of the City of Madison, Wisconsin, providing the details thereof, establishing interest rates thereon and levying taxes therefor

Body

Please see "61921 Body" in Attachments