City of Milwaukee - File #: 130237

• File #: 130237
• Version: 0
• Type: Resolution
• Status: Placed On File
• File created: 6/11/2013
• In control: COMMON COUNCIL
• Final action: 7/21/2015
• Title: Resolution approving the form of the Preliminary Official Statement used in connection with the sale of City of Milwaukee Qualified School Construction Bonds.
• Sponsors: THE CHAIR

Date	Ver.	Action By	Action	Result	Tally
7/21/2015	0	COMMON COUNCIL	PLACED ON FILE	Pass	13:0
7/17/2015	0	FINANCE & PERSONNEL COMMITTEE	RECOMMENDED FOR PLACING ON FILE	Pass	3:0
6/26/2013	0	FINANCE & PERSONNEL COMMITTEE	HELD TO CALL OF THE CHAIR; Minutes note: This item was held at the request of the department.	Pass	4:0
6/24/2013	0	FINANCE & PERSONNEL COMMITTEE	HEARING NOTICES SENT
6/11/2013	0	COMMON COUNCIL	ASSIGNED TO

Number
130237

Version
Original

Sponsor
THE CHAIR

Title
Resolution approving the form of the Preliminary Official Statement used in connection with the sale of City of Milwaukee Qualified School Construction Bonds.

Analysis
In connection with the sale of City debt, a Preliminary Official Statement is prepared and distributed to provide potential investors with information on the City. The rules of the Securities and Exchange Commission require that the governing body of the municipality review and approve the Official Statement for accuracy and completeness.
Body
Whereas, The City Comptroller has prepared a Preliminary Official Statement (the form of which is attached hereto), and will prepare an Official Statement, for the purpose of providing comprehensive financial and economic information respecting the City of Milwaukee (“City”) and Milwaukee Public Schools (“MPS”)in connection with the sale of the City of Milwaukee, Wisconsin, Qualified School Construction Bonds (“Offered Obligations”); and
Whereas, Financial and economic information has been compiled by the Office of the Comptroller from its annual financial report, property tax records maintained by the Assessor's Office and from other books and records of the City and MPS; and
Whereas, Concurrently with the delivery of the Offered Obligations, the City will deliver its certificates signed by its Comptroller stating that the descriptions and statements, including financial statements, as pertaining to the City and MPS contained in the Official Statements as of their dates and the date of sale and delivery of each Offered Obligation, were and are true and correct in all material respects and do not contain an untrue statement of a material fact or omit to state a material fact required to be included therein or necessary to make the statements contained therein in the light of circumstances in which they were made not misleading; and
Whereas, Such certificates will further confirm to the effe...