NUMB:
980967
VERS:
SUBSTITUTE 2
REF:
980253
XXBY:
THE CHAIR
TITL:
Substitute resolution relative to an Intergovernmental Cooperation Agreement between the City and the Milwaukee Public School District for payment of City services.
ANLS:
-Analysis-
This substitute resolution authorizes the City of Milwaukee to enter into an Intergovernmental Cooperation Agreement with the Board of School Directors for the Milwaukee Public Schools, whereby the City agrees to issue general obligation debt in the amount of $15,000,000 for a term of ten years, in consideration of the agreement by the Milwaukee Public Schools to pay the City annually for support services it receives from the City of Milwaukee.
BODY:
Whereas, The City provides certain support services and financial services to the Board of School Directors for the Milwaukee Public Schools as detailed in a report prepared for the City and the Milwaukee Public Schools by David M. Griffith & Associates, Ltd., Leabman Associates, Inc. and Washington, Pittman & McKeever, evaluating the statutory and fiscal relationship between the Milwaukee Public Schools and the City of Milwaukee; and
Whereas, The City and Board of School Directors have determined that it is desirable to have a formal Intergovernmental Cooperation Agreement in place, under which the City will be compensated for the support services it provides, and in consideration of which the City agrees to authorize the issuance of general obligation debt for school purposes in the amount of $15,000,000; and
Whereas, The Common Council initially authorized the execution of the Intergovernmental Cooperation Agreement pursuant to Common Council File No. 980253, adopted July 23, 1998; however, subsequent to the adoption of that resolution, the Milwaukee Board of School Directors approved the agreement with certain substantive changes, which changes are incorporated into the Intergovernmental Cooperation Agreement attached to this file; now, ...
Click here for full text