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File #: 191220    Version: 0
Type: Resolution Status: Passed
File created: 11/8/2019 In control: COMMON COUNCIL
On agenda: Final action: 11/26/2019
Effective date:    
Title: Resolution approving the issuance of revenue bonds by the Public Finance Authority for the benefit of St. John’s Evangelical Lutheran Church, a/k/a St. John Evangelical Lutheran Church of Milwaukee, Wisconsin to finance the rehabilitation, expansion, and equipping of an existing school located at 4001 South 68th Street, in the 11th Aldermanic District.
Sponsors: ALD. BORKOWSKI
Date Ver.Action ByActionResultTallyAction DetailsMeeting DetailsVideo
12/4/20190 MAYOR SIGNED   Action details Meeting details Not available
11/26/20190 COMMON COUNCIL ADOPTEDPass15:0 Action details Meeting details Video Video
11/13/20190 PUBLIC WORKS COMMITTEE RECOMMENDED FOR ADOPTION

Minutes note: Atty. Jeremy McKenzie - City Attorney's Office Atty. Bill Everson - St. John's Evangelical Lutheran Church
Pass5:0 Action details Meeting details Video Video
11/8/20190 COMMON COUNCIL ASSIGNED TO   Action details Meeting details Not available
Number
191220

Version
ORGINAL

Reference

Sponsor
ALD. BORKOWSKI

Title
Resolution approving the issuance of revenue bonds by the Public Finance Authority for the benefit of St. John’s Evangelical Lutheran Church, a/k/a St. John Evangelical Lutheran Church of Milwaukee, Wisconsin to finance the rehabilitation, expansion, and equipping of an existing school located at 4001 South 68th Street, in the 11th Aldermanic District.

Analysis
The Public Finance Authority is a public body corporate and politic created by the State of Wisconsin with the authority to issue conduit revenue bonds to finance a project with the approval of the political subdivision in which the project is located. This resolution constitutes City approval of the issuance of conduit revenue bonds by the Public Finance Authority for the St. John’s Evangelical Lutheran Church, a/k/a St. John Evangelical Lutheran Church of Milwaukee, Wisconsin (St. John’s Evangelical Lutheran Church project), located at 4001 South 68th Street. City approval of the project and the issuance of the bonds shall not give rise to a debt or pecuniary liability or a legal or moral obligation of the City for any reason whatsoever.

Body
Whereas, The Public Finance Authority (“PFA”) is a unit of government and body corporate and politic of the State of Wisconsin created pursuant to the provisions of ss. 66.0303 and 66.0304, Wis. Stats., commonly known as the “Joint Exercise of Powers Law” (as amended, the “Act”) and an Amended and Restated Joint Exercise of Powers Agreement, dated September 28, 2010, (the “Joint Exercise Agreement”); and

Whereas, The PFA is authorized and empowered under the Act and by the Joint Exercise Agreement to, among other things, issue bonds, notes or other evidences of indebtedness in connection with, and to make loans to assist in the financing of, “projects” located inside and outside of the State of Wisconsin; and

Whereas, St. John’s Evangelical Lutheran Church, a/k/a St. John Evan...

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