Number
100846
Version
Original
Reference
031384
Sponsor
The Chair
Title
Resolution authorizing a Master Continuing Disclosure Certificate for the issuance of debt by the City.
Analysis
This resolution authorizes a Master Continuing Disclosure Certificate that can be used with debt issued by the City. This updates the certificate approved with Common Council File 031384 to comply with SEC rules effective for debt issued after December 1, 2010.
Body
Whereas, The City has authorized debt, for various public purposes, to be issued in one or more series of bonds or notes; and
Whereas, Rule 15c2-12 promulgated by the United States Securities and Exchange Commission (SEC) requires a Continuing Disclosure Certificate for each series of municipal securities offered to the public; and
Whereas, In compliance with Rule 15c2-12, the City has issued debt pursuant to a Master Continuing Disclosure Certificate approved with Common Council File 031384 (Prior Certificate). Effective December 1, 2010, the SEC has updated the continuing disclosure requirement; and
Whereas, The City desires to adopt a new Master Continuing Disclosure Certificate that is in compliance with the new rules; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that a Master Continuing Disclosure Certificate in substantially the form of the draft annexed to this resolution, with such changes as may be advised by the City Attorney and Bond Counsel, is authorized to be executed and delivered by the Comptroller; and, be it
Resolved, By the Common Council of the City of Milwaukee, that Addendums to Master Continuing Disclosure Certificate in substantially the form of the draft annexed to this resolution, with such changes as may be advised by the City Attorney and Bond Counsel, are authorized to be executed and delivered, from time to time, by the Comptroller; and, be it
Further Resolved, That the obligation of the City of Milwaukee under the Master Continuing...
Click here for full text