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File #: 090555    Version:
Type: Resolution Status: Passed
File created: 9/1/2009 In control: FINANCE & PERSONNEL COMMITTEE
On agenda: Final action: 10/13/2009
Effective date:    
Title: Substitute resolution authorizing the sale and issuance of general obligation bonds in the aggregate amount of $53,070,000 for school purposes.
Sponsors: THE CHAIR
Indexes: GENERAL OBLIGATION BONDS, MILWAUKEE PUBLIC SCHOOLS, MUNICIPAL BORROWING
Attachments: 1. Cover Letter, 2. Fiscal Note, 3. Ald Murphy letter to MPS, 4. MPS report titled Adopted budget for the ARRA Qualified Schoool Construction Bonds, 5. Fiscal Analysis, 6. Reply from Budget and Management Division, 7. ARRA QSCB proposed projects submitted by Budget & Management Div., 8. Agreement, 9. Fiscal Analysis 10/13/09, 10. Fiscal Analysis 10/6/09, 11. Letter from Ald. Donovan - Support, 12. Hearing Notice List, 13. Notice Published on 10-21-09
Date Ver.Action ByActionResultTallyAction DetailsMeeting DetailsVideo
10/21/20091 CITY CLERK PUBLISHED   Action details Meeting details Not available
10/15/20091 MAYOR SIGNED   Action details Meeting details Not available
10/13/20091 COMMON COUNCIL ADOPTEDPass15:0 Action details Meeting details Not available
10/7/20090 FINANCE & PERSONNEL COMMITTEE SUBSTITUTED

Minutes note: Individuals present: Mark Nicolini, Director, Dept. of Admin., Budget & Management Div. Michelle Nate, Chief Financial & Operations Officer, Milwaukee Public Schools Ron Vavrik, Finance Director, Milwaukee Public Schools Gina Spang, Director of Facilities & Maintenance, Milwaukee Public Schools Dennis Yaccarino, Dept. of Admin., Budget & Management Div. 		Pass5:0 Action details Meeting details Not available
10/7/20091 FINANCE & PERSONNEL COMMITTEE RECOMMENDED FOR ADOPTIONPass5:0 Action details Meeting details Not available
9/30/20090 FINANCE & PERSONNEL COMMITTEE HEARING NOTICES SENT   Action details Meeting details Not available
9/1/20090 COMMON COUNCIL ASSIGNED TO   Action details Meeting details Not available

Number

090555

Version

SUBSTITUTE 1

Reference

 

Sponsor

THE CHAIR

 

Title

Substitute resolution authorizing the sale and issuance of general obligation bonds in the aggregate amount of $53,070,000 for school purposes.

 

Analysis

Resolution authorizes the sale and issuance of general obligation bonds for school purposes, in the amount of $53,070,000.

 

Body

Whereas, The Milwaukee Board of School Directors has requested the issuance of general obligation bonds in the aggregate amount of $53,069,187 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 issue and sell general obligation bonds in the aggregate amount of $48,000,000 for school purposes; and be it

 

Further Resolved, That appropriate City officials are authorized and directed to execute, on behalf of the City, an Intergovernmental Cooperation Agreement with the Board of Milwaukee School Directors, in substantially the form on file, as a condition to such issuance.

 

Requestor

Comptroller

 

Drafter

MN

DOA-BMD

10/7/09