City of Madison, Wisconsin | Legislative Information Center
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File #: 67105    Version: 1 Name: General Obligation Promissory Notes, Series 2021-A
Type: Resolution Status: Passed
File created: 8/24/2021 In control: Attorney's Office
On agenda: 8/31/2021 Final action: 9/21/2021
Enactment date: 9/21/2021 Enactment #: RES-21-00622
Title: Resolution authorizing the issuance of $81,300,000 General Obligation Promissory Notes, Series 2021-A, 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. Bid Tab 2021-A, 2. Winning Bid Signed By Purchaser 2021A, 3. 67105 Body

Fiscal Note

 

This resolution authorizes the issuance of general obligation promissory notes totaling $81.3 million and an irrevocable property tax sufficient for the purpose of paying principal and interest on the notes.  These notes will be used to finance current year capital improvements authorized in the 2021 capital budget.  A description of the specific expenditure purposes is included in the resolution.  The true interest cost of this series is 0.94%.  Repayment is scheduled over the next 10 years, including $11.6 million in interest payments

 

 

Title
Resolution authorizing the issuance of
$81,300,000 General Obligation Promissory Notes, Series 2021-A, of The City of Madison, Wisconsin, providing the details thereof, establishing interest rates thereon and levying taxes therefor

 

Body

Please see "67105 Body" in Attachments