Title
A Resolution Authorizing and Providing for the Sale and Issuance of One Series of 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 wastewater pollution abatement projects; and
WHEREAS, the Milwaukee Metropolitan Sewerage Commission intends to authorize, sell, and issue 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 $79,081,879 General Obligation Sewerage System Promissory Notes, Series 2025G, Levying Taxes for the Payment Thereof, and All Related Details” for Clean Water Fund Program Project Number 3304-01, consisting of aeration system upgrades at the South Shore Water Reclamation Facility which include replacing diffusers in 28 aeration basins with a new tapered grid of standard ethylene propylene diene monomer membrane diffusers, replacing associated piping, valves, electrical, instrumentation and controls, and rehabilitating concrete walls and walkways, as well as construction of a temporary primary polymer system and building.