HomeMy WebLinkAbout03-366.docAUGUST 26, 2003 03 - 366 RESOLUTION
(CARRIED________ LOST_______ LAID OVER _________ WITHDRAWN_________)
RESOLUTION APPROVING HOUSING PROJECT
OF THE HOUSING AUTHORITY
OF THE CITY OF OSHKOSH, WISCONSIN
(EVERGREEN RETIREMENT COMMUNITY, INC. PROJECT)
AND OT HER MATTERS RELATING THERETO
WHEREAS, the Elderly Housing Authority of the City of Oshkosh, Wisconsin (the
“Authority”) has adopted a Resolution of Intent to Issue Elderly Housing Authority of the
City of Oshkosh Revenue Bonds related to the proposed issu ance by the Authority of
revenue bonds in a principal amount not to exceed $7,000,000 on behalf of Evergreen
Retirement Community, Inc., a Wisconsin nonprofit nonstock corporation (the
“Borrower”), to finance costs related to the constructing and equippin g of an addition to
the Borrower’s existing facility located at 1130 North Westfield Street in the City of
Oshkosh. The addition will be approximately 38,000 square feet and will include a 44
bed skilled nursing facility and a fitness/rehabilitation center which will be owned and
operated by the Borrower. The addition will be occupied by elderly persons, and is
hereinafter referred to as the Housing Project (the “Housing Project”).
WHEREAS, Sections 66.1213 and 66.1201 to 66.1211 of the Wisconsin
Statutes, as amended (collectively, the “Act”), provide that this body shall approve any
housing project to be undertaken by the Authority; and
WHEREAS, the Bonds shall not constitute an indebtedness of the City within the
meeting of any State constitutional provis ion or statutory limitation and shall not
constitute or give rise to a pecuniary liability, direct or contingent, of any kind or degree
whatsoever, of the City or a charge against its general credit or taxing powers;
NOW, THEREFORE, on behalf of the Autho rity, for the purposes of the Act, this
body hereby approves the Housing Project.
The foregoing resolution of the Common Council of the City of Oshkosh,
Wisconsin was adopted, approved and recorded on August 26, 2003.
____________________________________
Mayor
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City Clerk