Number
252226
Version
SUBSTITUTE 1
Reference
991863, 021776, 100863, 230413, 252228
Sponsor
THE CHAIR
Title
Substitute resolution authorizing the sale and issuance of Sewerage System Revenue Refunding Bonds in one or more series.
Analysis
This resolution authorizes and provides for the sale by the City of one or more series of sewerage system revenue refunding bonds to be issued to finance the current refunding of certain outstanding sewerage system revenue bonds payable from the revenues of the City’s Sewerage System and the related costs of issuance; prescribes certain details of such bonds; and sets forth certain other matters related thereto.
Body
Whereas, capitalized terms not otherwise defined in this resolution (the “Series Resolution”) shall have the meanings set forth in Section 1.01 of the Sewerage System Bond Resolution, which is Common Council Resolution File No. 991863 adopted by the Common Council on August 2, 2001, as amended by Resolution File No. 021776 adopted by the Common Council on April 15, 2003, by Resolution File No. 100863 adopted by the Common Council on November 23, 2010, by Resolution File No. 230413 adopted by the Common Council on July 31, 2023, and by Resolution File No. 252228 adopted by the Common Council on the date hereof (collectively, the “Master Resolution”); and
Whereas, the Master Resolution provides the authority (when utilized in conjunction with separate Series Resolutions) for the issuance by the City of Milwaukee, Wisconsin (the “City”), of multiple series of sewerage system revenue bonds to be payable from the revenues of the City’s Sewerage System (the “System”); and
Whereas, Resolution File No. 230413 adopted by the Common Council on July 31, 2023 is both a “Series Resolution” and a “Supplemental Resolution” as those terms are defined in the Master Resolution, which authorized both an amendment to the Master Resolution and the issuance of Series 2023 Bonds to finance, among other things, the refund...
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