NUMB:
991677
VERS:
ORIGINAL
REF:
XXBY:
THE CHAIR
TITL:
Resolution authorizing the issuance of short-term general obligation notes for a public purpose, to-wit: funding the City's cash match share of a Wisconsin Department of Transportation streetscape enhancement grant for North 35th Street and environs. (Comptroller)
ANLS:
This resolution authorizes the issuance of short-term general obligation notes under sec. 67.12(12), Stats., for a public purpose, to-wit: funding the City's cash match share of a Wisconsin Department of Transportation streetscape enhancement grant for North 35th Street and environs in the total amount of $972,900 of which 80% ($778,320) is grantor funding and 20% ($194,580) is City borrowed grantee funding.
BODY:
Whereas, The 2000 budget of the City of Milwaukee authorizes general obligation short-term borrowing under ยง 67.12(12) for a public purpose, to-wit: 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 a public purpose, to-wit: provide the City's "match" for the funding of a Wisconsin Department of Transportation streetscape enhancement grant for North 35th Street and environs in the total amount of $972,900 of which 80% ($778,320) is grantor funding and 20% ($194,580) is City borrowed grantee funding; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee that it hereby and herewith authorizes and declares its purpose to issue general obligation short-term promissory notes pursuant to the provisions of sec. 67.12(12), Stats., in the amount of $194,580 for the purpose of a public purpose, to wit: provide the City's "match" for the funding of a Wisconsin Department of Transportation streetscape enhancement grant for public improvements; and, be it
Further Resolved, That said promissory notes be sold ...
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