Direct Purchases

JPMORGAN Chase Bank Line of Credit

City of Milwaukee, Wisconsin

Notice of Bank Loan

December 7, 2016

On December 7, 2016, the City of Milwaukee, Wisconsin entered in to a $150,000,000 Lines of Credit Agreement with JPMORGAN Chase Bank, N.A.(the “Agreement”).

Security:                    General Obligation Pledge

Term:                          2 year (“Term Date”)

Interest Rate:            Variable (monthly) based upon 1-Month LIBOR

Termination:              The right to draw may be terminated upon specified events (“Termination Event”)

Term-Out:                  Single Principal payment due 18 months from the earlier of Commitment Expiration Date or Termination Event.

Acceleration:             None, other than the right to terminate draws, which would then begin the 18-month Term-Out period.

It is the City’s intention to ask for an extension of the Term Date 6 months prior to the Term Date.


US Bank Line of Credit 

City of Milwaukee, Wisconsin

Notice of Bank Loan

November 18, 2016

On November 18, 2016, the City of Milwaukee, Wisconsin entered into an $80,000,000 Revolving Loan Agreement with U.S. Bank National Association (the “Agreement”) to provide the City with a tax-exempt line of credit.  The Agreement was extended for one year on November 16, 2017.

Security:                    General Obligation Pledge

Term:                          1 year (“Term Date”)

Interest Rate:            Variable  based upon 1-Month LIBOR

Termination:              The right to draw may be terminated upon specified events (“Termination Event”)

Term-Out:                  Single Principal payment due 18 months from the earlier of: i) Term Date; or ii) Termination Event.

It is the City’s intention to request an extension of the Term Date each year.

$30,000,000 of loans under the Agreement will be used to refund on a long-term basis the City’s 2012 V10 Bonds. The remainder of the Agreement will be used for various temporary borrowing needs.