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Council approves $1.235 million taxable GO promissory notes, Series 2012D
Summary
The council adopted a resolution authorizing issuance and sale of $1,235,000 taxable general obligation promissory notes, Series 2012D, established debt service account and awarded the sale.
The Superior Common Council approved a resolution providing for the issue, sale and delivery of $1,235,000 in taxable general obligation promissory notes, designated Series 2012D.
The resolution, presented as Item 10.1 on the agenda, establishes the notes’ terms and conditions, directs their execution and delivery, creates a debt service account and awards the sale. Councilors moved and seconded the resolution; a voice vote carried the motion.
The meeting transcript does not specify purchaser names, interest rates, amortization schedule or which projects the proceeds will fund. The resolution language also was not read in full on the record during the audio excerpt provided.
