Number
130941
Version
ORIGINAL
Reference
Sponsor
THE CHAIR
Title
Resolution authorizing the sale and issuance of general obligation bonds in the aggregate amount of $3,431,766 for water systems.
Analysis
Resolution authorizes the issuance and sale of general obligation bonds for water systems in the amount of $3,431,766.
Body
Whereas, The 2013 budget of the City of Milwaukee adopted by the Common Council approved $200,000,000 of contingent borrowing; and
Whereas, The City desires to use $3,431,766 of the Contingent Borrowing for Water Systems; and
Whereas, The City desires to issue general obligation bonds in the aggregate amount of $3,431,766 for water systems; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that it hereby authorizes the issuance of $3,431,766 of Contingent Borrowing for Water Systems; and, be it
Further Resolved, That it hereby authorizes and declares its purpose to sell and issue general obligation bonds in the aggregate amount of $3,431,766 for water systems; and, be it
Further Resolved, That such bonds may be issued as notes pursuant to Common Council Resolution File Number 121149 (Contingent Borrowing - Unallocated) including temporary borrowing as Extendable Municipal Commercial Paper, as bonds pursuant to Resolution File Number 121150 (Contingent Borrowing - Unallocated), and/or as revenue bonds as may be authorized from time to time.
Requestor
Comptroller
Drafter
Richard S. Li
10/25/2013