Number
250881
Version
Original
Sponsor
THE CHAIR
Title
Authorizing the Sale and Issuance of Taxable General Obligation Promissory Notes, Series 2025 T3
Analysis
Resolution authorizes the sale and issuance of Taxable General Obligation Promissory Notes.
Body
Whereas, Common Council Resolution File No. 241324 adopted by the Common Council (the “Common Council”) of the City of Milwaukee, Wisconsin (the “City”) on January 21, 2025 authorized the issuance of general obligation promissory notes of the City in the aggregate principal amount of $1,114,837,595.45 (the “Authorizing Resolution”); and
Whereas, the Authorizing Resolution authorized the City’s Commissioners of the Public Debt (the “Commissioners”) to sell and issue the general obligations authorized thereunder on such dates and in such amounts as the Commissioners determine to be prudent and appropriate; and
Whereas, the City’s $65,000,000 General Obligation Promissory Notes, Series 2025 N1, dated March 26, 2025, have been issued under the authority granted by the Authorizing Resolution; and
Whereas, the Authorizing Resolution authorized the City’s Commissioners of the Public Debt (the “Commissioners”) to sell and issue the general obligations authorized thereunder on such dates and in such amounts as the Commissioners determine to be prudent and appropriate; and
Whereas, under the terms set forth in an official notice of sale given to potential bidders of municipal obligations (the “Official Notice of Sale”), and the information of the City given in the preliminary offering document dated September 17, 2025 (the “Preliminary Official Statement”), prepared and distributed with the Official Notice of Sale, the Commissioners desire to sell the Taxable General Obligation Promissory Notes, Series 2025 T3, of the City in the principal amount of $7,000,000 (the “Obligations”); and the Comptroller of the City (the “Comptroller”) has received on the date of this resolution one or more bids for ...
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