City of Milwaukee - File #: 121558

• File #: 121558
• Version: 0
• Type: Resolution
• Status: Placed On File
• File created: 2/27/2013
• In control: COMMON COUNCIL
• Final action: 4/9/2013
• Title: Resolution authorizing the sale and issuance of general obligation bonds in the aggregate amount of $41,000,000 for school purposes.
• Sponsors: THE CHAIR
• Indexes: GENERAL OBLIGATION BONDS, SCHOOLS

Date	Ver.	Action By	Action	Result	Tally
4/9/2013	0	COMMON COUNCIL	PLACED ON FILE	Pass	14:0
4/4/2013	0	FINANCE & PERSONNEL COMMITTEE	RECOMMENDED FOR PLACING ON FILE	Pass	5:0
4/2/2013	0	FINANCE & PERSONNEL COMMITTEE	HEARING NOTICES SENT
2/27/2013	0	COMMON COUNCIL	ASSIGNED TO	Fail

Number

121558

Version

ORIGINAL

Reference

Sponsor

THE CHAIR

Title

Resolution authorizing the sale and issuance of general obligation bonds in the aggregate amount of $41,000,000 for school purposes.

Analysis

Resolution authorizes the issuance and sale of contingent borrowing for general obligation bonds for school purposes, in the amount of $41,000,000. $5 million is for refunding of RACM bonds issued in 2005 for School Purposes, and $36 million is for new projects.

Body

Whereas, The 2013 budget of the City of Milwaukee adopted by the Common Council contemplates the issuance of $200,000,000 of debt for contingent borrowing purposes; and

Whereas, The City desires to authorize $41,000,000 of the contingent borrowing for general obligation bonds in the aggregate amount of $41,000,000 for school purposes; now, therefore, be it

Resolved, By the Common Council of the City of Milwaukee that it hereby authorizes and declares its purpose to sell and issue general obligation bonds in the aggregate amount of $41,000,000 for school purposes; and, be it

Further Resolved, That such amount may be issued as notes and/or bonds with other notes and/or bonds sold by the City.

Requestor

Comptroller

Drafter

RSL

PD-7991aW.rtf