City of Milwaukee - File #: 180678

• File #: 180678
• Version: 1
• Type: Charter Ordinance
• Status: Passed
• File created: 9/5/2018
• In control: COMMON COUNCIL
• Final action: 10/16/2018
• Effective date: 1/1/2019
• Title: A substitute charter ordinance relating to city public debt.
• Sponsors: THE CHAIR
• Indexes: DEBTS, PUBLIC, MUNICIPAL FINANCE

Date	Ver.	Action By	Action	Result	Tally
11/1/2018	1	CITY CLERK	PUBLISHED
10/25/2018	1	MAYOR	SIGNED
10/16/2018	1	COMMON COUNCIL	PASSED	Pass	14:0
10/10/2018	0	FINANCE & PERSONNEL COMMITTEE	SUBSTITUTED; Minutes note: Ald. Stamper moved substitution of the file with Proposed Substitute A. (Prevailed 5-0)	Pass	5:0
10/10/2018	1	FINANCE & PERSONNEL COMMITTEE	RECOMMENDED FOR PASSAGE	Pass	5:0
10/4/2018	0	FINANCE & PERSONNEL COMMITTEE	HEARING NOTICES SENT
10/4/2018	0	FINANCE & PERSONNEL COMMITTEE	HEARING NOTICES SENT
9/5/2018	0	COMMON COUNCIL	ASSIGNED TO

Number
180678
Version
SUBSTITUTE 1
Reference

Sponsor
THE CHAIR
Title
A substitute charter ordinance relating to city public debt.
Sections
15-02 am
15-05 am
15-07 am
15-08 am
15-10 cr
15-11 rc
15-12 rp
15-13 am
15-14 am
Analysis
This charter ordinance:
1. Authorizes the city comptroller and city treasurer to designate representatives to attend meetings of the public debt commission.
2. Authorizes the city comptroller, instead of the public debt commission, to negotiate and dispose of bonds issued by the city.
3. Updates charter provisions relating to bond interest and sinking funds.
4. Repeals provisions relating to surrender of bonds and partial retirement bonds.
Body
The Mayor and Common Council of the City of Milwaukee do ordain as follows:

Part 1. Section 15-02 of the charter is amended to read:

15-02. Meetings. The commissioners of the public debt shall fix their own times of meeting, and the mode of calling their meetings. The action of a majority of them shall be deemed the action of the commissioners. They shall transact all their business at the city hall. The comptroller shall be ex officio the secretary of the commissioners and shall preserve a full record of all their proceedings. The city treasurer shall be ex officio treasurer of the commissioners and shall have the sole responsibility for the physical custody of the securities of the public debt amortization fund, subject to such direction as the commissioners of the public debt may from time to time prescribe. Both the comptroller and the treasurer >>,or their designees,<< shall attend meetings of the public debt commission and shall be available for consultation.

Part 2. Section 15-05 of the charter is amended to read:

15-05. Bonds: Requirements. An accurate account shall be kept by the comptroller, or by such other officer as may be appointed by law for that purpose, of the issue of all the bonds by the [[said]] city, of their numbers, dates and amounts, of the dat...