NUMB
981204
VERS:
ORIGINAL
XXBY:
THE CHAIR
TITL:
Resolution relating to the carryover of 1998 authorization for general obligation borrowing. (Comptroller)
ANLS:
- Analysis -
This resolution authorizes that certain amounts for related specific purposes as provided in the 1998 budget for general obligation borrowing be carried over into 1999.
BODY:
Whereas, The 1998 budget contained authorization for general obligation borrowing in the amount of $281,895,303 as detailed in the schedule made a part of this file; and
Whereas, The Common Council of the City of Milwaukee adopted resolutions authorizing the Commissioners of the Public Debt to issue in a sale or sales during 1998, amounts of general obligation notes or bonds (other than refunding) in the aggregate of $132,530,000; and
Whereas, There was dropped from the City of Milwaukee 1998 budget authorization a total of $52,230,271 unutilized borrowing authority; and
Whereas, The Municipal Budget adopted November 13, 1998 for the calendar year 1999, plus additional authorizations approved by adoption of prior resolutions of intent to issue bonds or notes are included in the borrowing amounts shown in the detailed schedule appended under the caption "Carryover to 1999" and covered by the resolutions recited in the schedule that is made a part of this file; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee that the sum of $97,135,032 of the 1998 Municipal Budget authorized for general obligation borrowing ($92,690,032 covered by initial resolutions and $4,445,000 not covered by initial resolutions) all as detailed by amounts for specific purposes and identified as to the related specific initial resolutions of the Common Council with respect to the issuance and sale of such general obligation bonds or notes, are in full force and effect. The referred to detailed schedule is as appended and is an integral part of this file.
DFTR:
Comptrolle...
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