Number
031396
Version
Original
Reference
Sponsor
The Chair
Title
Resolution authorizing the Commissioners of the Public Debt to market general obligation "corporate purpose notes" 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 notes" in the amount of $265,233,568.
Body
Whereas, General obligation bonds and notes have been authorized in the 2001, 2002, 2003, and 2004 municipal budgets; and
Whereas, Resolutions have been adopted authorizing the issuance of such general obligation bonds and notes; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee in accordance with sec. 67.12(12), Stats., that the Commissioners of the Public Debt are authorized and requested to issue and sell general obligation "corporate purpose notes" in the aggregate amount of $265,233,568 for each of the public purposes as set forth herein and in the amounts shown on Exhibit A; and, be it
Further Resolved, That for purposes and amounts that have also been authorized to be issued as bonds, that such amounts issued as notes pursuant to this resolution shall not be issued as bonds; and, be it
Further Resolved, That the general obligation "corporate purpose notes" herein authorized shall be sold by the Commissioners of the Public Debt at public or private 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 notes" herein authorized shall be issued on or before December 31, 2004; and, be it
Further Resolved, That the Commissioners of the Public Debt are authorized to prepare the forms and establish the procedures required in the issuance and sale of general obligation "corporate purpose notes" herein a...
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