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From the Department of Administrative Services, Corporation Counsel Audit, County Board staff and the Financial Advisor, an informational report on the competitive bid and negotiated bond sale method of the City of Milwaukee and the State of Wisconsin. (INFORMATIONAL UNLESS OTHERWISE DIRECTED BY THE COMMITTEE)
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At the Finance and Audit Committee meeting of May 19, 2011, Supervisor De Bruin requested that a report be provided for the July cycle that describes the bond sale methods used by the City of Milwaukee and the State of Wisconsin including the reasoning for selecting the specific sale method. In response to the request, the workgroup has investigated the practices of the City and the State. As the attached exhibit and the following discussion indicate, the rationale utilized by the City and the State in determining the appropriate method of bond sales is consistent with the County's practice.