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File #: 001598    Version:
Type: Resolution Status: Passed
File created: 2/27/2001 In control: FINANCE & PERSONNEL COMMITTEE
On agenda: Final action: 5/8/2001
Effective date:    
Title: Substitute resolution authorizing refunding of all or any part of General Obligation Taxable Bonds, Series BY(3); BZ(3); H; and M.
Sponsors: THE CHAIR
Indexes: GENERAL OBLIGATION BONDS, MUNICIPAL BORROWING
Attachments: 1. Comptroller's Cover Letter 2/22/01.pdf, 2. Comptroller's Cover Letter 3/7/01.pdf, 3. Fiscal note, 4. Budget reply.PDF, 5. Fiscal Review Analysis.PDF
Date Ver.Action ByActionResultTallyAction DetailsMeeting DetailsVideo
5/10/20012 MAYOR SIGNED   Action details Meeting details Not available
5/8/20012 COMMON COUNCIL ADOPTEDPass17:0 Action details Meeting details Not available
5/2/20012 FINANCE & PERSONNEL COMMITTEE RECOMMENDED FOR ADOPTIONPass4:1 Action details Meeting details Not available
5/2/20012 FINANCE & PERSONNEL COMMITTEE RECONSIDEREDPass5:0 Action details Meeting details Not available
5/2/20012 FINANCE & PERSONNEL COMMITTEE RECOMMENDED FOR ADOPTIONPass5:0 Action details Meeting details Not available
4/9/20012 FINANCE & PERSONNEL COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
4/9/20012 FINANCE & PERSONNEL COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
3/20/20012 COMMON COUNCIL REFERRED TOPass16:0 Action details Meeting details Not available
3/14/20012 FINANCE & PERSONNEL COMMITTEE RECOMMENDED FOR ADOPTIONPass5:0 Action details Meeting details Not available
3/12/20012 CITY CLERK DRAFT SUBMITTED   Action details Meeting details Not available
3/7/20011 CITY CLERK DRAFT SUBMITTED   Action details Meeting details Not available
3/5/20010 FINANCE & PERSONNEL COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
3/5/20010 FINANCE & PERSONNEL COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
2/28/2001  FINANCE & PERSONNEL COMMITTEE REFERRED TO   Action details Meeting details Not available
2/27/20010 COMMON COUNCIL ASSIGNED TO   Action details Meeting details Not available
Number
001598
Version
Substitute 2
Reference

Sponsor
THE CHAIR

Title
Substitute resolution authorizing refunding of all or any part of General Obligation Taxable Bonds, Series BY(3); BZ(3); H; and M.

Analysis
Resolution authorizes and requests the Commissioners of the Public Debt to issue and sell at a private sale General Obligation Refunding Bonds to refund portions of certain issues. The Commissioners will refund the debt whenever it makes economic sense to do so.

Body
Whereas, The Common Council has authorized the issuance and approved the sale of General Obligation Corporate Purpose Bonds, Series BY(3) (Taxable), dated December 1, 1990, in the amount of $13,720,000; and

Whereas, The Common Council has authorized the issuance and approved the sale of General Obligation Corporate Purpose Bonds, Series BZ(3) (Taxable), dated November 15, 1991, in the amount of $5,320,000; and

Whereas, The Common Council has authorized the issuance and approved the sale of General Obligation Corporate Purpose Bonds, Series H (Taxable), dated June 15, 1997, in the amount of $4,525,000; and

Whereas, The Common Council has authorized the issuance and approved the sale of General Obligation Corporate Purpose Bonds, Series M (Taxable), dated December 15, 1998, in the amount of $8,605,000; and

Whereas, As of December 31, 2000, the following unpaid amounts for principal and interest are outstanding for the above issues (the "Outstanding Bonds"):

BY(3) Principal = $4,570,000 Interest = $1,097,830
BZ(3) Principal = 2,125,000 Interest = 527,125
H Principal = 3,610,000 Interest = 1,533,554
M Principal = 8,605,000 Interest = 4,553,638

; and

Whereas, The Common Council of the City of Milwaukee is interested in refunding all or certain of the Outstanding Bonds; now, therefore, be it

Resolved, By the Common Council of the City of Milwaukee that it hereby and herewith authorizes the Commission to issue and sell at a private sal...

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