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Cudahy council authorizes bond sales and refundings totaling millions
Summary
The council approved three finance measures — refinancing and note issuances — following a presentation by the city’s financial adviser; motions to approve passed on unanimous roll-call votes.
The Common Council approved a package of financing actions on April 6 after a presentation by Greg Johnson of Ehlers & Associates. The council authorized measures including an amended and restated cooperation agreement tied to a proposed $3,395,000 redevelopment lease revenue refunding, the sale of $2,190,000 in General Obligation Refunding Bonds (Series 2016A), and issuance of $1,580,000 in General Obligation Promissory Notes (Series 2016B).
Council minutes record motions to approve Resolution Nos. 7019, 7020 and 7021; each motion was seconded and recorded as carried unanimously on roll call. The minutes do not include bond pricing details or underwriter/timing specifics beyond the approved authorizations.
The approvals allow staff to move forward with bond sale, refunding and note issuance steps consistent with the presentations made by the city’s financial advisor earlier in the meeting.
