HomeMy WebLinkAbout00-275.docJUNE 27, 2000
00-275 RESOLUTION
(CARRIED 7-0
WITHDRAWN
LOST LAID OVER
PURPOSE:
INITIATED BY:
RESOLUTION RELATING TO WAIVER OF SECTION
66.521(11)(b)1. REQUIREMENTS IN CONNECTION WITH AN
INDUSTRIAL DEVELOPMENT REVENUE BOND FINANCING
(OSHKOSH COIL SPRING, INC. PROJECT)
CITY ADMINISTRATION
WHEREAS, this body has adopted a resolution entitled "Initial Resolution
Relating to Industrial Development Revenue Bond Financing (Oshkosh Coil Spring, Inc.
Project)" (the "Initial Resolution"); and
WHEREAS, the Initial Resolution provides that upon certain conditions the City of
Oshkosh, Wisconsin (the "Municipality"), shall issue industrial development revenue
bonds pursuant to Section 66.521, Wisconsin Statutes, as amended (the "Act") to
finance a project in the Municipality to be undertaken by Trembly Enterprises, LLC, a
Wisconsin limited liability company, Oshkosh Coil Spring, Inc., a Wisconsin corporation
("Oshkosh Coil Spring"), Jeffrey S. Trembly and Wayne A. Trembly (individually or as a
part of any combination, joint venture, limited liability company, or partnership of which
any of the above are a part, the "Borrower"), and
WHEREAS, the Borrower has represented that the intended use of the project is
for the purpose of constructing and equipping an addition to the Borrower's existing
manufacturing facility located within the Municipality to be used in connection with
Oshkosh Coil Spring's business of manufacturing compression, extension and torsion
springs (hereinafter called the "Project"); and
WHEREAS, Section (11)(b)1. of the Act contains provisions requiring competitive
bidding for certain construction contracts with regard to the construction of projects financed
under the Act; and
WHEREAS, Section (11)(b)2. of the Act empowers the governing body of a
municipality to waive the requirements of Section (11 )(b)l. with respect to a particular project;
NOW, THEREFORE, BE IT RESOLVED:
It is the finding and determination of this body that the Municipality will not control
the design, costs, construction or operation of the Project; that no public moneys will be
expended for the Project; that the Municipality will have no beneficial ownership in the
Project; that the primary reason for requiring competitive bidding for construction of
municipal projects is to protect the taxpayers against excessive expenditures of public
funds and that such reason, although sound as applied to public works, is not applicable
to the Project in which no general funds or tax revenues of the Municipality will be used
or put at risk; that it would be more efficient and expedient for the accomplishment of
the public purposes of the revenue bond issue if the Borrower were to have complete
control over the letting of contracts for construction for the Project. Therefore, the
Municipality does hereby waive the provisions of Section (11 )(b)l. of the Act with regard
to the Project.
Adopted and recorded this 27th day of June, 2000.
CITY OF OSHKOSH
WINNEBAGO COUNTY, WISCONSIN
This is to certify that the foregoing resolution was adopted by the Common
Council of the City of Oshkosh, Wisconsin at a meeting held on the 27th day of June,
2000.
Pamela R. Ubrig, City Clerk