HomeMy WebLinkAbout2015-04-14 Finance Committee Minutes
SPECIAL FINANCE COMMITTEE MINUTES
April 14, 2015 @ 5:15 pm
Council Members: Durgin, Blanchette, Civiello, Graham, Nealley, Sprague, Faircloth
Staff Members: Cyr, Conlow
1. Resolution of the Finance Committee Approving the Details of the 2015
Series A and Series B Bond Issues (Resolution provided at meeting)
Finance Director Cyr reviewed the results of the public sale of the City’s Series A and
Series B (federally taxable) general obligation bonds. The City received 6 bids for the
tax exempt bonds in the amount of $3,120,000 and 5 bids for the taxable bonds in the
amount of $1,600,000. The true interest cost (tic) of the tax exempt bonds is 2.00%
and the tic of the taxable bonds was 3.424%.
The Committee approved the resolution unanimously.