City of Milwaukee - File #: 260398

• File #: 260398
• Version: 1
• Type: Resolution
• Status: Passed
• File created: 7/14/2026
• In control: FINANCE & PERSONNEL COMMITTEE
• Final action: 7/31/2026
• Title: Substitute resolution authorizing the issuance of up to $275,000,000 of school revenue anticipation notes, and a purpose for Direct Loan Notes, for the purpose of financing the operating budget of the Milwaukee Public Schools on an interim basis.
• Sponsors: THE CHAIR
• Indexes: MILWAUKEE PUBLIC SCHOOLS, MUNICIPAL BORROWING

Date	Ver.	Action By	Action	Result	Tally
8/3/2026	1	MAYOR	SIGNED
7/31/2026	1	COMMON COUNCIL	ADOPTED	Pass	15:0
7/29/2026	1	FINANCE & PERSONNEL COMMITTEE	RECOMMENDED FOR ADOPTION; Minutes note: Appearing: Bill Christianson, City Comptroller Jesse Hagen, Comptroller's Office	Pass	5:0
7/28/2026	1	CITY CLERK	DRAFT SUBMITTED
7/14/2026	0	COMMON COUNCIL	ASSIGNED TO

Number
250252

Version
SUBSTITUTE 1

Reference

Sponsor
THE CHAIR
Title
Substitute resolution authorizing the issuance of up to $275,000,000 of school revenue anticipation notes, and a purpose for Direct Loan Notes, for the purpose of financing the operating budget of the Milwaukee Public Schools on an interim basis.

Sections
Analysis
This resolution authorizes the issuance by the City of Milwaukee, Wisconsin (the “City”) of its school revenue anticipation notes in the aggregate principal amount of up to $275,000,000 (the “RANs”), under Section 67.12(1) of the Wisconsin Statutes, for the purpose of financing the operating budget of the Milwaukee Public Schools (“MPS”) on an interim basis.

This resolution pledges revenues payable to the School Operations Fund during the Fiscal Year (as defined below) to the payment of debt service on the RANs. This resolution authorizes and directs the proper City officers to segregate state general school aid revenues payable under Section 121.15 of the Wisconsin Statutes to the School Operations Fund in June of the fiscal year commencing July 1, 2026 and ending June 30, 2027 (the “Fiscal Year”) to secure payment of the principal of, and interest on, the RANs when due. This resolution also authorizes the proper City officers to deposit with the City’s fiscal agent an amount sufficient together with earnings thereon to pay, when due, the principal of and interest on the RANs.

Finally, this resolution authorizes, within the existing $400,000,000 aggregate program limitation established by Resolutions 180864, 210940, 221095 and 251400, the use of up to $150,000,000 of Direct Loan Notes to provide temporary bridge financing for School Purposes pending issuance of the RANs.

Body
Whereas, MPS operates under Chapter 119 of the Wisconsin Statutes as the school system of a First Class City and is legally treated as a department of the City of Milwaukee, and accordingly the City is the “municipality” authorized to borrow ...