Number
231765
Version
ORIGINAL
Reference
Sponsor
THE CHAIR
Title
Resolution authorizing the sale and issuance of General Obligation Promissory Notes, Series 2024 N1 and General Obligation Corporate Purpose Bonds, Series 2024 B2.
Analysis
Common Council Resolution File No. 231256 adopted by the Common Council (the “Common Council”) of the City of Milwaukee, Wisconsin (the “City”) on January 17, 2024 authorized the issuance of General Obligation Promissory Notes of the City in the aggregate principal amount of $1,077,486,096.99.
Body
Whereas, Common Council Resolution File No. 231256 adopted by the Common Council (the “Common Council”) of the City of Milwaukee, Wisconsin (the “City”) on January 17, 2024 authorized the issuance of General Obligation Promissory Notes of the City in the aggregate principal amount of $1,077,486,096.99; and
Whereas, Common Council Resolution File No. 231257 adopted by the Common Council on January 17, 2024 authorized the issuance of General Obligation Corporate Purpose Bonds of the City in the aggregate principal amount of $635,656,154.21; and
Whereas, No other of the General Obligation Promissory Notes, the General Obligation Corporate Purpose Bonds, nor the General Obligation Refunding Notes and Bonds authorized by the resolutions, have heretofore been sold or issued; and
Whereas, the above resolutions resolved that the Obligations authorized thereby shall be sold by the City’s Commissioners of the Public Debt (the “Commissioners”) at such time and in such amounts as the Commissioners determine to be prudent and appropriate; and
Whereas, pursuant to an Official Notice of Sale, the Commissioners desire to sell the General Obligation Promissory Notes, Series 2024 N1, of the City in the principal amount of $48,785,000 (the “Notes”) and the General Obligation Corporate Purpose Bonds, Series 2024 B2, of the City in the principal amount of 11,215,000 (the “Bonds”) (collectively the Notes and Bonds being herein sometimes called ...
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