City of Milwaukee - File #: 031384

• File #: 031384
• Version: 1
• Type: Resolution
• Status: Passed
• File created: 1/21/2004
• In control: FINANCE & PERSONNEL COMMITTEE
• Final action: 2/10/2004
• Title: Substitute resolution authorizing a Master Continuing Disclosure Certificate for the issuance of debt by the City.
• Sponsors: THE CHAIR
• Indexes: FINANCIAL MANAGEMENT INFORMATION SYSTEM, MUNICIPAL BORROWING

Date	Ver.	Action By	Action	Result	Tally
11/5/2013	1	COMMON COUNCIL	SIGNED
11/1/2013	1	COMMON COUNCIL	DRAFT SUBMITTED
10/14/2013	0	HISTORIC PRESERVATION COMMISSION	ASSIGNED TO
10/14/2013	0	HISTORIC PRESERVATION COMMISSION	HEARING NOTICES SENT
2/10/2004	1	COMMON COUNCIL	ADOPTED	Pass	14:0
2/4/2004	1	FINANCE & PERSONNEL COMMITTEE	RECOMMENDED FOR ADOPTION	Pass	5:0
1/27/2004	0	FINANCE & PERSONNEL COMMITTEE	HEARING NOTICES SENT
1/22/2004		FINANCE & PERSONNEL COMMITTEE	REFERRED TO

Number

031384

Version

Substitute

Reference

Sponsor

The Chair

Title

Substitute resolution authorizing a Master Continuing Disclosure Certificate for the issuance of debt by the City.

Analysis

This resolution authorizes a Master Continuing Disclosure Certificate that can be used with debt issued by the City.

Body

Whereas, The City has authorized debt, for various public purposes, to be issued in one or more series of bonds or notes; and

Whereas, Rule 15c2-12 promulgated by the United States Securities and Exchange Commission requires a Continuing Disclosure Certificate for each series of municipal securities offered to the public; and

Whereas, In compliance with Rule 15c2-12, the City executes a separate continuing disclosure certificate for each publicly offered issue of municipal securities; and

Whereas, The City desires to consolidate its obligations under the various continuing disclosure certificates into a Master Continuing Disclosure Certificate; now, therefore, be it

Resolved, By the Common Council of the City of Milwaukee, that a Master Continuing Disclosure Certificate in substantially the form of the draft annexed to this resolution, with such changes as may be advised by the City Attorney and Bond Counsel, is authorized to be executed and delivered by the Comptroller; and, be it

Resolved, By the Common Council of the City of Milwaukee, that Addendums to Master Continuing Disclosure Certificate in substantially the form of the draft annexed to this resolution, with such changes as may be advised by the City Attorney and Bond Counsel, are authorized to be executed and delivered, from time to time, by the Comptroller; and, be it

Further Resolved, That the obligation of the City of Milwaukee under the Master Continuing Disclosure Certificate and Addendums under the terms therein specified is determined to be contractual for the benefit of the holders of Offered Obligations including the beneficial owners of Offered Obligations; and, be it

Further Resolved, That the City of Milwaukee authorizes and directs the appropriate officers and employees of the City to take all action necessary or appropriate to comply with and carry out all of the provisions of the Master Continuing Disclosure Certificate as amended from time to time. Notwithstanding any other provision of the resolution, failure of the City to perform in accordance with the Master Continuing Disclosure Certificate shall not constitute a default under this resolution and the Master Continuing Disclosure Certificate may be enforced only as provided therein.

Requestor

Comptroller

Drafter

Public Debt Commission

RSL

PD-6713a2W.doc