Title
A Resolution Authorizing and Providing for the Sale and Issuance of One Series of Taxable General Obligation Sewerage System Promissory Notes, Levying Taxes for the Payment Thereof, and All Related Details
Body
WHEREAS, the State of Wisconsin Clean Water Fund Program permits the Milwaukee Metropolitan Sewerage Commission to obtain financial assistance for the construction of eligible pollution abatement projects; and
WHEREAS, the Milwaukee Metropolitan Sewerage Commission intends to authorize, sell, and issue taxable general obligation sewerage system promissory notes for the Clean Water Fund Program project as described below; and
WHEREAS, the Milwaukee Metropolitan Sewerage Commission has determined to sell the notes by private rather than public sale due to efficiencies of borrowing through the Clean Water Fund Program, including reduced issuance costs, flexible draw-down of principal, and favorable interest rates.
NOW, THEREFORE, BE IT RESOLVED, by the Milwaukee Metropolitan Sewerage Commission, that the resolution attached hereto and described below is hereby adopted.
1. “A Resolution Authorizing and Providing for the Sale and Issuance of up to $27,946,664 Taxable General Obligation Sewerage System Promissory Notes, Series 2025F, Levying Taxes for the Payment Thereof, and All Related Details” for Clean Water Fund Program Project Number 3248-01, consisting of a portion of the installation of green infrastructure through the implementation of two wet weather management programs, the Fresh Coast Protection Partnership and the Green Infrastructure Partnership Program, designed to reduce the duration, frequency, and magnitude of combined sewer overflows and to reduce the adverse effects of the overflows, which will contribute to the established goal of installing enough green infrastructure by 2035 to capture 740 million gallons of water after a rain event.