NUMB:
981195
VERS:
ORIGINAL
REF:
941425
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 State of Wisconsin Department of Natural Resources Menomonee River Conservation Project Grant with Infrastructure Services Division. (Comptroller)
ANLS:
Resolution authorizing 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 State of Wisconsin Department of Natural Resources Menomonee River Conservation Project Grant with Infrastructure Services Division.
BODY:
Whereas, The 1999 budget of the City of Milwaukee authorizes short-term borrowing in the sum of $6,404,000 for paying the City's share of the costs under Grant and Aid Projects, the specific purposes of which were not contemplated at the time the budget was adopted; 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 State of Wisconsin Department of Natural Resources Menomonee River Conservation Project Grant for public improvements; 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 $404,000 for the purpose of a public purpose, to wit: provide the City's "match" for the funding of a State of Wisconsin Department of Natural Resources Menomonee River Conservation Project Grant for public improvements; and, be it
Further Resolved, That said promissory notes be sold by the Commissioners of the Public Debt at a public competitive sale with bids invited from local banks or ...
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