Number
252228
Version
SUBSTITUTE 1
Reference
991863, 021776, 100863, 230413
Sponsor
THE CHAIR
Title
Substitute resolution authorizing amendments to Common Council File Number 991863 relating to the City’s Sewerage System Revenue Bonds.
Analysis
This resolution authorizes and provides for the amendment by the City of the bond resolution under which the City’s sewerage system revenue bonds are issued to clarify certain ambiguities and inconsistent provisions.
Body
Whereas, the Common Council of the City of Milwaukee, Wisconsin (the “City”) adopted Common Council File No. 991863 on August 2, 2001, which is the Bond Resolution for the City’s Sewerage System Revenue Bonds (the “Original Resolution”) providing authority for the issuance by the City of multiple series of sewerage system revenue bonds payable from the revenues of the City’s Sewerage System (the “System”) pursuant to Section 66.0621 of the Wisconsin Statutes (the “Act”); and
Whereas, the Original Resolution has been amended by: (i) Common Council File No. 021776, adopted on April 15, 2003 (the “First Supplemental Resolution”), which, among other things, amended and restated Section 3.04(4) of the Original Resolution and was adopted as a Supplemental Resolution under Section 10.02 of the Original Resolution; (ii) Common Council File No. 100863, adopted on November 23, 2010 (the “Second Supplemental Resolution”), which amended Section 6.10(B) of the Original Resolution regarding investment valuation; and (iii) Common Council File No. 230413, adopted on July 31, 2023 (the “Third Supplemental Resolution”), which amended and restated Section 3.03 and Section 4.02 of the Original Resolution (the Original Resolution, as amended by the First Supplemental Resolution, the Second Supplemental Resolution, and the Third Supplemental Resolution, is referred to herein as the “Master Resolution”); and
Whereas, capitalized terms used but not otherwise defined in this Fourth Supplemental Resolution (the “...
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