Appleton District 6

Photo by Jason Brozek As discussed in the last update, the Finance Committee had a presentation from Baird about the General Obligation Notes and Sewerage System Revenue Bonds issued for capital projects. We had a special Finance Committee meeting immediately before the Common Council meeting to confirm the sale of those bonds. As expected, the demand for both issues was high and the bond rating was excellent. The GO Notes received an Aa1 Moody’s rating – the second highest possible. The interest rate was a bit higher than the original calculation, also expected during this period of volatility in rates. The notes came in at a 3.36% rate. The Sewerage System Revenue Bonds received an Aa2 Moody’s rating, slightly lower because they are tied to the utility revenue rather than the taxing authority of the city. The rate for those bonds was 4.08%. Normally, the bond issue would happen in the fall, but the Finance Department was able to go ahead with the issue to save on interest in the anti