Number
240866
Version
Original
Sponsor
THE CHAIR
Title
Authorizing the Sale and Issuance of General Obligation Promissory Notes, Series 2024 N5
Analysis
Resolution authorizes the sale and issuance of General Obligation Promissory Notes.
Body
Whereas, Common Council Resolution File No. 231256 adopted by the Common Council (the “Common Council”) of the City of Milwaukee, Wisconsin (the “City”) on January 17, 2024 authorized the issuance of general obligation promissory notes of the City in the aggregate principal amount of $1,077,486,096.99 (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 $48,785,000 General Obligation Promissory Notes, Series 2024 N1, dated April 2, 2024, 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 25, 2024 (the “Preliminary Official Statement”), as authorized under File Number 240602 adopted by the Common Council on September 24, 2024, prepared and distributed with the Official Notice of Sale, the Commissioners desire to sell the General Obligation Promissory Notes, Series 2024 N5, of the City in the principal amount of $50,000,000 (the “Obligations”); and the Comptroller of the City (the “Comptroller”...
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