HomeMy WebLinkAbout01-07.docJANUARY 9, 2001
01-07 RESOLUTION
(CARRIED 7-0
LOST LAID OVER WITHDRAWN
PURPOSE:
INITIATED BY:
RESOLUTION DIRECTING THE ADVERTISEMENT
AND SALE OF APPROXIMATELY $6,390,000
AGGREGATE PRINCIPAL AMOUNT OF GENERAL
OBLIGATION CORPORATE PURPOSE BONDS,
SERIES 2001-A, APPROXIMATELY $2,110,000
AGGREGATE PRINCIPAL AMOUNT OF GENERAL
OBLIGATION PROMISSORY NOTES, SERIES 2001-
B, AND APPROXIMATELY $20,500,000
AGGREGATE PRINCIPAL AMOUNT OF WATER
REVENUE BONDS, SERIES 2001-C, OF THE CITY
OF OSHKOSH, WINNEBAGO COUNTY,
WISCONSIN.
FINANCE DEPARTMENT
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 County, Wisconsin (the "City') in an aggregate principal amount not to
exceed $6,390,000 for the purpose of acquiring, constructing and improving streets,
storm sewers, sanitary sewers, parks and improvements within tax increment financing
districts; 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 Corporate Purpose
Bonds, Series 2001-A in an aggregate principal amount not to exceed $6,390,000 (the
"Bonds'~ for the purpose of acquiring, constructing and improving streets, storm
sewers, sanitary sewers, parks and improvements within tax increment financing
districts, for which initial resolutions have been adopted; and
WHEREAS, cities are authorized by the provisions of Section 67.12(12) of the
Wisconsin Statutes, as supplemented and amended, to borrow money and issue
promissory notes 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 in an approximate
aggregate principal amount of $2,110,000 for the purpose of acquiring, constructing
and improving sidewalks, traffic signals, equipment and improvements to public lands
and public buildings in 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 Promissory Notes,
Series 2001-B in an approximate aggregate principal amount of $2,110,000 (the
"Notes') for the purpose of acquiring, constructing and improving sidewalks, traffic
signals, equipment and improvements to public lands and public buildings in the City;
and
WHEREAS, cities are authorized by Section 66.0621 of the Wisconsin Statutes,
as supplemented and amended, to issue bonds to provide funds for purchasing,
acquiring, constructing, extending, adding to, improving, conducting, controlling,
operating and managing a public utility from the proceeds of such bonds, which bonds
are to be payable only from the revenues received from any source by such utility,
including all rentals and fees; and
WHEREAS, it is necessary that funds be raised by the City in an approximate
aggregate principal amount of 20,500,000 for the purpose of acquiring, constructing
and improving the water system of the City, which is a public utility; and
WHEREAS, it is considered necessary and desirable by the City Council of the
City that the City borrow money and issue its Water Revenue Bonds, Series 2001-C in
an approximate aggregate principal amount of $20,500,000 (the "Revenue Bonds') for
the purpose of acquiring, constructing and improving the water system of the City,
which is a public utility; and
WHEREAS, it is considered desirable to offer all of the Bonds, the Notes and the
Revenue Bonds at one time in order to obtain the best possible terms for the City;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Oshkosh, Winnebago County, Wisconsin, as follows:
Section 1. For the purpose of offering for sale the Bonds, the Notes and the
Revenue Bonds, the Finance Director of the City is hereby authorized to cause an
appropriate notice of the sale thereof to be published 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 the Revenue Bonds.
Section 2. After bids shall have been received for the Bonds, the Notes and the
Revenue 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 Bond, the
Note and Revenue Bonds and will levy taxes in the specific amount necessary to pay
the principal of and interest on the Bonds and the Notes.
Adopted January 9, 2001.
Approved January 9, 2001.
Recorded January 9, 2001.
Attest:
/s/Pamela R. Ubrig
City Clerk
/s/Jon Dell'Antonia
Mayor