Number
121641
Version
Original
Reference
Sponsor
THE CHAIR
Title
Resolution authorizing the sale and issuance of general obligation bonds in the aggregate amount of $38,000,000 for school purposes.
Analysis
Resolution authorizes the issuance and sale of contingent borrowing for general obligation bonds for school purposes, in the amount of $38 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 $38,000,000 of the contingent borrowing for general obligation bonds in the aggregate amount of $38,000,000 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 $38,000,000 for school purposes; and, be it
Further Resolved, That such amount may be issued as notes and/or bonds pursuant to resolutions 121149 and 121150.
Requestor
Comptroller
Drafter
RSL
PD-7991bW.rtf