Number
111570
Version
Substitute 1
Sponsor
THE CHAIR
Title
Substitute resolution approving the form of the Preliminary Official Statement(s) used in connection with the sale of Multi-Modal Notes and Bonds.
Analysis
In connection with the sale of City debt, a Preliminary Official Statement is prepared and distributed to provide potential investors with information on the City. The rules of the Securities and Exchange Commission require that the governing body of the municipality review and approve the Official Statement for accuracy and completeness.
Body
Whereas, The City Comptroller has prepared a Preliminary Official Statement(s), the form(s) of which is(are) attached hereto, and will prepare an Official Statement(s), for the purpose of providing comprehensive financial and economic information respecting the City of Milwaukee in connection with the sale of the City of Milwaukee, Wisconsin, Multi-Modal Notes and Bonds (the “Offered Obligations”); and
Whereas, On June 20, 2012, pursuant to file number 111567 that authorized the issuance of the Offered Obligations, the Commissioners of the Public Debt approved agreements for the sale and remarketing of the Offered Obligations; and
Whereas, Financial and economic information has been compiled by the Office of the Comptroller from its annual financial report, property tax records maintained by the Assessor's Office and from other books and records of the City; and
Whereas, Concurrently with the delivery of the Offered Obligations, the City will deliver its certificates signed by its Comptroller stating that the descriptions and statements, including financial statements, as pertaining to the City contained in the Official Statements as of their dates and the date of sale and delivery of each Offered Obligation, were and are true and correct in all material respects and do not contain an untrue statement of a material fact or omit to state a material fact required to be included therein or necessary to...
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