Subject: Communication sponsored by Alder McCarthy, on behalf of the Racine Waterworks Utility Director, requesting a resolution authorizing the Issuance and sale of up to $19,675,190 Waterworks System Revenue Bonds, Series 2024, and Providing for Other Details and Covenants with Respect Thereto. Recommendation of the Waterworks Commission on 07/16/2024: To Approve with a Referral to the Finance & Personnel Committee. Recommendation of the Finance and Personnel Committee on 08-12-2024: That the Racine Waterworks Utility Directors request for a resolution authorizing the Issuance and sale of up to $19,675,190 Waterworks System Revenue Bonds, Series 2024, and Providing for Other Details and Covenants with Respect Thereto be approved. Fiscal Note: Financial Assistance Agreement funded through the state Safe Drinking Water Loan Program is in the amount of $19,675,190.00, with a loan term of 20 years at a 2.365% rate.

Committee

Finance and Personnel Committee

Introduced

August 9, 2024

On agenda

August 20, 2024

Passed

August 20, 2024