Number
021776
Version
SUBSTITUTE 1
Reference
991863
Sponsor
THE CHAIR
Title
Substitute resolution amending File Number 991863 as relates to revenue bonds of the City of Milwaukee, Wisconsin (the "City") for the purposes of the sewerage system of the City. (Comptroller)
Analysis
File Number 991863 created the master resolution (the "Resolution") pursuant to which revenue bonds of the Sewerage System of the City are issued. The Resolution contains covenants with respect to the issuance, from time to time, of bonds under that resolution. This resolution amends the Resolution to change the terms under which additional bonds may be issued on parity with bonds under the Resolution. This resolution also deems bonds issued under File Number 021700 to have consented to such change.
Body
Whereas, on August 2, 2001, the Common Council of the City of Milwaukee adopted Common Council File Number 991863 that authorized the issuance of Sewerage System Revenue Bonds under a resolution (the "Resolution") contained therein; and
Whereas, In interpreting the terms of this resolution (the "2003 Supplemental Resolution") amending the terms of the Resolution, all terms which are defined in Section 1.01 of the Resolution shall have the same meanings, respectively, in this 2003 Supplemental Resolution as such terms are given in said Section 1.01 of the Resolution; and
Whereas, The Resolution provides the authority (when utilized in conjunction with separate "Series" resolutions) for the issuance of Sewerage System Revenue Bonds to be payable from the revenues of the Sewerage System; and
Whereas, It is hereby found and determined that it is desirable that the City amend the terms upon which bonds may be issued on a parity basis under the Resolution; and
Whereas, This 2003 Supplemental Resolution is adopted pursuant to Section 10.02 of the Resolution; and
Whereas, Common Council File Number 021700 adopted on March 25, 2003 approved the issuance of...
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