Number
260676
Version
SUBSTITUTE 1
Sponsor
THE CHAIR
Title
Authorizing the Issuance of General Obligation Promissory Notes, Series 2026 N5
Analysis
Resolution authorizes the issuance of General Obligation Promissory Notes.
Body
Whereas, Common Council Resolution File No. 251401 adopted by the Common Council (the “Common Council”) of the City of Milwaukee, Wisconsin (the “City”) on January 20, 2026 authorized the sale and issuance of general obligation promissory notes of the City, in one or more series, in the aggregate principal amount not to exceed $1,223,097,225.98 (the “Authorizing Resolution”); and
Whereas, the Authorizing Resolution authorized the City’s Commissioners of the Public Debt (the “Commissioners”) to sell and issue the general obligations authorized thereunder on such dates and in such principal amounts as the Commissioners determine to be prudent and appropriate; and
Whereas, the City’s $85,000,000 General Obligation Promissory Notes, Series 2026 N1, dated March 24, 2026, have previously been issued under the authority granted by the Authorizing Resolution; and
Whereas, under the terms set forth in an official notice of sale given to potential bidders of municipal obligations (the “Official Notice of Sale”), and the information of the City given in the preliminary offering document dated September 8, 2026 (the “Preliminary Official Statement”), prepared and distributed with the Official Notice of Sale, the Commissioners desire to sell the General Obligation Promissory Notes, Series 2026 N5, of the City in the principal amount of $46,475,000 (the “Obligations”); and the Comptroller of the City (the “Comptroller”) has received on the date of this resolution one or more bids for the purchase of the Obligations.
Now, therefore, be it resolved by the Commissioners as follows:
1. The Obligations are being issued to finance the various public improvements of the City set forth below:
Project Purposes: Principal Amounts
Streets $16...
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