Number
061007
Version
Substitute 1
Reference
Sponsor
The Chair
Title
Substitute resolution authorizing the Commissioners of the Public Debt to market general obligation "corporate purpose bonds" pursuant to the provisions of Ch. 67, Stats.
Sections
Analysis
This resolution authorizes the Commissioners of the Public Debt to issue and sell City of Milwaukee general obligation "corporate purpose bonds" in the amount of $403,095,353.
Body
Whereas, General obligation bonds have been authorized in the 2003, 2004, 2005, 2006, and 2007 municipal budgets; and
Whereas, Initial resolutions have been adopted authorizing the issuance of such general obligation bonds; and
Whereas, The Common Council desires to combine general obligation bonds authorized under the various initial resolutions into one issue and to designate such bonds as "corporate purpose bonds"; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that in accordance with sec. 67.05(13), Stats., the Commissioners of the Public Debt are authorized and requested to issue and sell general obligation "corporate purpose bonds" in the aggregate amount of $403,095,353 for each of the public purposes provided by the underlying initial resolutions and in the amounts shown in Exhibit A, attached to this file; and, be it
Further Resolved, That debt issued for purposes and amounts set for in Exhibit A, attached to this file and apart from this resolution shall not like wise be issued pursuant to this resolution; and, be it
Further Resolved, That the general obligation "corporate purpose bonds" herein authorized shall be sold by the Commissioners of the Public Debt at public sale, and/or directly to the Public Debt Amortization Fund, and at such times as the Commissioners shall determine to be prudent and appropriate; and, be it
Further Resolved, That the general obligation "corporate purpose bonds" herein authorized shall be issued on or before February 28, 2008; and, be ...
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