City of Milwaukee - File #: 060840

• File #: 060840
• Version: 1
• Type: Resolution
• Status: Passed
• File created: 10/24/2006
• In control: COMMUNITY & ECONOMIC DEVELOPMENT COMMITTEE
• Final action: 12/12/2006
• Title: Substitute resolution authorizing the issuance of Industrial Development Revenue Bonds, Series 2007 (Pettit National Ice Center, Inc. Project), in the 10th Aldermanic District.
• Sponsors: THE CHAIR
• Indexes: CAPITAL IMPROVEMENTS, INDUSTRIAL DEVELOPMENT BONDS

Date	Ver.	Action By	Action	Result	Tally
12/26/2006	1	CITY CLERK	PUBLISHED; Minutes note: Exhibit A was published in the Daily Reporter on 12-26-06.
12/21/2006	1	MAYOR	SIGNED
12/12/2006	1	COMMON COUNCIL	ADOPTED	Pass	15:0
11/28/2006	1	COMMUNITY & ECONOMIC DEVELOPMENT COMMITTEE	RECOMMENDED FOR ADOPTION; Minutes note: Appearances: Mr. James Scherer, Department of City Development. Assistant City Attorney, Thomas Gartner.	Pass	4:0
11/21/2006	1	COMMUNITY & ECONOMIC DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
11/21/2006	1	COMMUNITY & ECONOMIC DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
11/21/2006	1	COMMUNITY & ECONOMIC DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
11/17/2006	1	CITY CLERK	DRAFT SUBMITTED
10/24/2006	0	COMMON COUNCIL	ASSIGNED TO

Number
060840
Version
SUBSTITUTE 1
Reference
060865
Sponsor
THE CHAIR
Title
Substitute resolution authorizing the issuance of Industrial Development Revenue Bonds, Series 2007 (Pettit National Ice Center, Inc. Project), in the 10th Aldermanic District.
Analysis
This substitute resolution provides details relating to and authorizes the issuance of Industrial Development Revenue Bonds, i.e., $2,250,000 principal amount of Industrial Development Revenue Bonds, Series 2007 (Pettit National Ice Center, Inc. Project) to finance costs related to acquisition of the recreational ice skating facility in the City at 500 South 84th Street, which is being acquired by Pettit National Ice Center, Inc., a Wisconsin nonprofit corporation.
Body
Whereas, The City of Milwaukee, Wisconsin, (referred to herein as the “City”) is a municipal corporation organized and existing under and pursuant to the laws of the State of Wisconsin and is authorized by Section 66.1103, Wisconsin Statutes, as amended (hereinafter sometimes referred to as the “Act”), to construct, equip, re-equip, acquire by gift, lease or purchase, install, reconstruct, rebuild, rehabilitate, improve, supplement, replace, maintain, repair, enlarge, extend or remodel industrial projects including recreational facilities, and to enter into revenue agreements for the same in order to promote the rights to gainful employment, business opportunities and general welfare of its inhabitants; and

Whereas, The City is authorized by the Act to issue industrial development revenue bonds payable solely from funds made available therefor by an eligible participant pursuant to the terms of a revenue agreement entered into with the City; and

Whereas, The principal of, premium, if any, and interest on bonds issued under authority of the Act do not constitute an indebtedness of the City within the meaning of any state constitutional provision or statutory limitation, and do not constitute or give rise to a charge against the ...