Number
150131
Version
ORIGINAL
Reference
Sponsor
THE CHAIR
Title
A charter ordinance relating to the form of bonds issued by the city.
Sections
15-04 am
Analysis
This charter ordinance eliminates the requirement for bonds issued by the city to bear the signatures of the commissioners of public debt. It also eliminates the requirement that every bond shall have plainly engraved or printed in figures on some convenient place thereon, a statement of the value of taxable property therein as equalized for state purposes for the last year available, and also of the principal sum of the bonded debt of the city issued and yet outstanding -- exclusive of bonds issued to railroad companies -- including the issue of which the bonds bearing these statements are a part.
Body
The Mayor and Common Council of the City of Milwaukee do ordain as follows:
Part 1. Section 15-04 of the charter is amended to read:
15-04. Bonds: Form. All bonds hereafter issued by cities of the first class, whether organized under general or special charter, shall be numbered consecutively, shall be signed by the >>city<< clerk and the mayor [[,]] >>and<< countersigned by the comptroller [[, and shall be attested by the commissioners of public debt of said city]] . The signatures of the mayor, comptroller and [[the]] >>city<< clerk may be manual or imprinted facsimile signatures except that at least one of these signatures shall be a manual signature unless the city has contracted with a fiscal agent to authenticate the bonds. [[The signatures of the commissioners of public debt shall be imprinted facsimile signatures.]] Each [[and every]] bond issued shall show on its face for what purpose and by what authority it was issued [[, and shall have plainly engraved or printed in figures on some convenient place thereon, a statement of the value of taxable property therein as equalized for state purposes for the last year available, and also of the principal sum of the bonded debt of any...
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