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File #: 100514    Version:
Type: Resolution Status: Passed
File created: 9/1/2010 In control: FINANCE & PERSONNEL COMMITTEE
On agenda: Final action: 6/14/2011
Effective date:    
Title: Substitute resolution approving the form of the Preliminary Official Statement used in connection with the sale of City of Milwaukee, Wisconsin, debt. (Comptroller)
Sponsors: THE CHAIR
Indexes: COMPTROLLER, MUNICIPAL BORROWING
Attachments: 1. Cover Letter, 2. Preliminary Official Statement, 3. Fiscal Note, 4. Hearing Notice List
Number
100514
Version
Substitute 1
Sponsor
THE CHAIR
Title
Substitute resolution approving the form of the Preliminary Official Statement used in connection with the sale of City of Milwaukee, Wisconsin, debt. (Comptroller)
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 in connection with the sale of the City of Milwaukee, Wisconsin, Sewerage System Revenue Bonds (the “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
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 contained in the Official Statements as of their dates and the date of sale and delivery of the Offered Obligations, 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 effect that insofar as the descriptions and statements includ...

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