HomeMy WebLinkAbout04. 20-168 APRIL 28, 2020 20-168 RESOLUTION
(CARRIED 7-0 LOST LAID OVER WITHDRAWN )
PURPOSE: INITIAL RESOLUTION AUTHORIZING NOT EXCEEDING
$5,305,000 GENERAL OBLIGATION BONDS OF THE CITY OF
OSHKOSH
INITIATED BY: CITY ADMINISTRATION
BE IT RESOLVED by the City Council of the City of Oshkosh, Winnebago County,
Wisconsin,that there shall be issued general obligation bonds of said City in an aggregate principal
amount not exceeding $5,305,000 for the public purposes of(i) street improvements and(ii)parks
and public grounds. For the purpose of paying the various installments of principal of and interest
on said bonds as they severally mature, prior to the issuance and delivery of said bonds there shall
be levied on all taxable property in said City a direct annual irrepealable tax sufficient for that
purpose.
The City Clerk is hereby directed to publish notice of adoption of the foregoing Initial
Resolution, one time in the official city newspaper, not later than May 13, 2020, such notice to be
in substantially the form as follows:
OFFICIAL NOTICE TO ELECTORS
OF ADOPTION OF
INITIAL RESOLUTION
An initial resolution was adopted at the regular meeting of the Common Council of the
City of Oshkosh, Winnebago County, Wisconsin, on April 28, 2020, and promptly recorded,
providing for the issuance of general obligation bonds of the City in the amount and for the public
purposes, as follows:
AMOUNT PURPOSE
$4,725,000 Street improvements
580,000 Parks and public grounds
For the purpose of paying the various installments of principal of and interest on the
aforesaid bonds as they severally mature, prior to their issuance and delivery there shall be levied
on all taxable property in the City a direct annual irrepealable tax sufficient for that purpose.
The bonds authorized to be issued by the various initial resolutions set out above, shall be
issued by the City of Oshkosh unless,before 4:00 o'clock P.M. on May 28, 2020, a petition is filed
in the office of the City Clerk by electors numbering at least ten percent (10%) of the votes cast
for governor in the City at the last general election requesting that the initial resolution be
submitted to the electors.
Dated: April 28, 2020
City Clerk