City of Milwaukee - File #: 001843

• File #: 001843
• Version: 0
• Type: Resolution
• Status: Passed
• File created: 4/10/2001
• In control: FINANCE & PERSONNEL COMMITTEE
• Final action: 5/8/2001
• Title: Resolution authorizing the issuance of short-term general obligation notes for funding the City's cash match share of a Wisconsin Department of Transportation streetscape enhancement grant for West National Avenue between South First Street to South 12th Street; and to include South Fifth Street between West Virginia Street to West Washington Street; and South Sixth Street between West Virginia Street to West National Avenue. This accepted grant is limited to preliminary engineering, plan development and State review.
• Sponsors: THE CHAIR
• Indexes: GENERAL OBLIGATION BONDS, MUNICIPAL BORROWING, PROMISSORY NOTES, STREET IMPROVEMENTS, WISCONSIN DEPARTMENT OF TRANSPORTATION

Date	Ver.	Action By	Action	Result	Tally
5/17/2001	0	MAYOR	SIGNED
5/8/2001	0	COMMON COUNCIL	ADOPTED	Pass	17:0
5/2/2001	0	FINANCE & PERSONNEL COMMITTEE	RECOMMENDED FOR ADOPTION	Pass	4:0
4/20/2001	0	FINANCE & PERSONNEL COMMITTEE	HEARING NOTICES SENT
4/19/2001	0	FINANCE & PERSONNEL COMMITTEE	HEARING NOTICES SENT
4/11/2001		FINANCE & PERSONNEL COMMITTEE	REFERRED TO
4/10/2001	0	COMMON COUNCIL	ASSIGNED TO

Number
001843
Version
ORIGINAL
Reference

Sponsor
THE CHAIR

Title
Resolution authorizing the issuance of short-term general obligation notes for funding the City's cash match share of a Wisconsin Department of Transportation streetscape enhancement grant for West National Avenue between South First Street to South 12th Street; and to include South Fifth Street between West Virginia Street to West Washington Street; and South Sixth Street between West Virginia Street to West National Avenue. This accepted grant is limited to preliminary engineering, plan development and State review.

Analysis
Resolution authorizing the issuance of short-term general obligation notes under s. 67.12(12), Stats., funding the City's cash match share of a Wisconsin Department of Transportation streetscape enhancement grant for West National Avenue between South First Street to South 12th Street; and to include South Fifth Street between West Virginia Street to West Washington Street; and South Sixth Street between West Virginia Street to West National Avenue. This accepted grant is limited to preliminary engineering, plan development and State review. The grant is in a total amount of $85,000 of which 80% ($68,000) would be Grantor funding and 20% ($17,000) would be City borrowed Grantee funding.

Body
Whereas, The 2001 budget of the City of Milwaukee authorizes general obligation short-term borrowing under § 67.12(12) for paying the City's share of the costs under Grant and Aid Projects; and

Whereas, The City of Milwaukee is desirous of issuing and selling short-term promissory notes for the purpose of paying its share of the Grant and Aid Project for providing the City's "match" for the funding of a Wisconsin Department of Transportation streetscape enhancement grant for West National Avenue between South First Street to South 12th Street; and to include South Fifth Street between West Virginia Street to West Washington Street; and South Sixth Stre...