DATE: September 15, 2009
Members present: Steve Bach, Tommy Lee Bychinski, Joan Fordham, Marty Krueger, William F. Wenzel
Others present: Kathy Schauf, Kerry Beghin, Brad Viegut
The meeting was called to order by Chairperson Bychinski at 5:30 PM. Certification of open meeting compliance was given. Motion by Wenzel to adopt the agenda, second by Fordham. Motion carried.
Consider Resolution Authorizing the Issuance and Sale of $5,115,000 General Obligation Bonds.
Brad Viegut from Robert W. Baird presented the pricing for the general obligation bonds to advance refund half the Health Care Center bond anticipation notes. The market has priced the debt with an average all-in cost of 3.42 percent, which is less than anticipated. The favorable rates have allowed the principal amount to be decreased to $4,965,000, which lowers the overall cost. Viegut also emphasized the positive wording of Moody's rating report. Motion by Bach, second by Fordham to approve a resolution Authorizing the Issuance and Sale of $4,965,000 General Obligation Bonds. Motion carried
Review and approval of invoices
Motion by Wenzel to approve payment of the County invoices in the amount of $1,492,120.17, second by Bach. Motion carried.
Motion by Bach to adjourn the meeting, second by Fordham. Motion carried.
Respectfully submitted,
Steven Bach
Finance Committee Secretary