HomeMy WebLinkAbout03-168.docJUNE 10, 2003 03 - 168 RESOLUTION
(CARRIED ___ 6 - 0 ___LOST ________LAID OVER ________WITHDRAWN________)
PURPOSE: RESOLUTION DIRECTING THE ADVERTISEMENT AND SALE
OF APPROXIMATELY $11,500,000 AGGREGATE PRINCIPAL
AMOUNT OF GENERAL OBLIGATION REFUNDING BONDS,
SERIES 2003 - D, AND TAXABLE GENERAL OBLIGATION
REFUNDING BONDS, SERIES 2003 - E, OF THE CITY OF
OSHKOSH, WINNEBAGO COUNTY, WISCONSIN
INITIATED BY: CITY ADMINISTRATION
Whereas, cities are authorized by Chapter 67 of the Wisconsin Statutes, as
supplemented and amended, to borrow money and to issue bonds to finance any
project undertaken for a public purpose and to refund municipal obligations, including
interest thereon; and
Whereas, it is necessary that funds be raised by the City of Oshkosh,
Winnebago Co unty, Wisconsin (the “City”) in an approximate aggregate principal
amount of $11,500,000 for the purpose of refunding certain outstanding obligations of
the City; and
Whereas, it is considered necessary and desirable by the City Council of the
City that the City borrow money and issue its General Obligation Refunding Bonds,
Series 2003 - D and its Taxable General Obligation Refunding Bonds Series 2003 - E in
an approximate aggregate principal amount of $11,500,000 (the “Bonds”) for the
purpose of refunding ce rtain obligations of the City for which an initial resolution has
been adopted; and
Whereas, it is considered desirable to offer all of the Bonds at one time in order
to obtain the best possible terms for the City;
Now, Therefore, Be It Resolved by the C ity Council of the City of Oshkosh,
Winnebago County, Wisconsin, as follows:
Section 1. For the purpose of offering for sale the Bonds, the Finance Director
of the City is hereby authorized to cause an appropriate notice of the sale thereof to be
publis hed in a newspaper to be selected by the Finance Director of the City. The
Finance Director of the City shall also cause to be prepared and distributed an Official
Statement, including Official Terms of Offering, with respect to the Bonds, the Notes
and t he Taxable Bonds.
Section 2. After bids shall have been received for the Bonds, this City Council
will adopt additional proceedings to award the same to the best bidder or bidders,
prescribe the terms thereof and the forms of Bonds and will levy taxes in the specific
amount necessary to pay the principal of and interest on the Bonds.