FINANCE & PERSONNEL
COMMITTEE
JAMES CARROLL
File #061004 is a resolution relating to the issuance and sale of general obligation
bonds in the amount of $6,000,000 for School Board borrowing for Milwaukee
Public School (MPS) capital purposes.
Capital Project
Budget
Amount ADA Improvements 2007 $2,000,000 Major Maintenance to Facilities 2007 $4,000,000 Total $6,000,000
Until the actual structuring of the
debt issue is determined by the Public Debt Commission, details relating to the
long-term fiscal impact will not be known. Depending on actual sale date in 2007, a
maximum of 6 months interest would be incurred during the year. If sold
after July 1, 2007, there would be no fiscal impact in
2007.
Cc: Marianne Walsh Prepared by:
W. Martin Morics November 22, 2006
Richard Li