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Waukesha committee approves amendment to $7.08 million industrial revenue bonds for local manufacturer
Summary
The committee approved a resolution to amend terms of $7,080,000 in industrial development revenue bonds (series 2015) for Production Service Company (parent of Oberlin Filter) to update regulatory language and interest-rate indexing after the original bond issuer was bought; staff said the change does not affect the city's financial liability.
The Waukesha City Finance Committee on Nov. 11 approved a resolution amending language in $7,080,000 in industrial development revenue bonds, series 2015, that were issued for Production Service Company to finance its facility on Silver Nail Road.
Staff explained these industrial development revenue bonds are conduit financing:…
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