HomeMy WebLinkAbout02-159.docMAY 14, 2002 02-159 RESOLUTION
(CARRIED 5-o
LOST LAID OVER WITHDRAWN
PURPOSE:
INITIATED BY:
INITIAL RESOLUTION TO APPROVE ISSUANCE OF
INDUSTRIAL REVENUE BONDS FOR GOODWILL INDUSTRIES
CITY ADMINISTRATION
RESOLUTION CALLING FOR A PUBLIC HEARING ON THE ISSUANCE
OF REVENUE OBLIGATIONS BY THE CITY OF TOMAH, WISCONSIN,
FOR A PROJECT BY GOODWILL INDUSTRIES OF NORTH CENTRAL
WISCONSIN, INC. UNDER WISCONSIN STATUTES, SECTION 66.1103
BE IT RESOLVED, by the Common Council (the "Council") of the City of Oshkosh,
Winnebago County, Wisconsin (the "City"), as follows:
Authority. Wisconsin Statutes Sections 66.1101 through 66.1103, as amended
(the "Act"), authorizes a municipality to finance an industrial project which is
located entirely outside the geographic limits of the municipality, but only if the
financing for the project also relates to another project of the same eligible
participant, part of which is located within the geographic limits of the issuing
municipality.
2. The Proiect.
Representatives of Goodwill Industries of North Central Wisconsin, Inc., a
Wisconsin nonstock, nonprofit corporation and organization described in
Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (the
"Corporation"), have advised the City that the Corporation desires to
undertake the financing of the following project:
1341 West Spencer Street 29,000 square foot acquisition and $895,000
Appleton, WI 54914 warehouse facility, renovation
from which the
Borrower distributes
merchandise for sale
in its retail outlets
420 South Outagamie Street 34,000 square foot acquisition and $925,000
Appleton, WI 54914 donation processing renovation
facility employing
adults with
disabilities
2814 South Oneida Street 23,190 square foot renovation $285,000
Ashwaubenon, WI 54304 facility, from which
the Borrower
operates a retail
store employing
adults with
disabilities
3605 Gateway Drive 20,112 square foot acquisition $1,685,000
Eau Claire, WI 54701 facility, from which
the Borrower
operates a retail
store employing
adults with
disabilities
2500 Hils Court 10,326 square foot acquisition $860,000
Menomonie, WI 54751 facility, from which
the Borrower
operates a retail
store employing
adults with
disabilities
1600 West 20th Street 16,456 square foot acquisition $1,230,000
Oshkosh, WI 54901 facility, from which
the Borrower
operates a retail
store employing
adults with
disabilities
1516 North Superior Avenue 11,933 square foot acquisition $890,000
Tomah, WI 54660 facility, from which
the Borrower
operates a retail
store employing
adults with
disabilities
TOTAL $6,770,000
(the "Project"), all owned and operated by the Corporation.
Such representatives further advise the City that the Corporation desires
to finance the Project, portions of which are located in the Village of
Ashwaubenon and the Cities of Appleton, Eau Claire, Menomonie,
Oshkosh and Tomah, Wisconsin (collectively with the City, the "Host
Cities") through the issuance of a revenue note or revenue bonds, in one
or more series, by the City of Tomah, Wisconsin (the "Issuer") or one of
the other Host Cities in an amount not to exceed $6,770,000 (the
"Obligations").
Public Hearinq.
As a portion of the Project is to be located within the City, the City will
conduct a public hearing on the proposal to undertake and finance the
Project, pursuant to the requirements of Section 147(0 of the Internal
Revenue Code of 1986, as amended.
The City Clerk or her designee is authorized and directed to cause the
public notice, substantially in the form attached hereto as Exhibit A, to be
published once in the official newspaper of the City not less than 14 days
nor more than 30 days prior to the date set for the public hearing.
City Costs. Approval of this resolution is subject to the agreement by the
Corporation that it will pay the administrative fees of the City and pay, or, upon
demand, reimburse the City for payment of, any and all costs incurred by the
City in connection with the Project and the issuance of the Obligations,
whether or not the Project is carried to completion, or the Obligations are
issued.
Ri,qhts Reserved. Nothing in this resolution shall be construed as an
indication of an intent to approve this Project and issue the proposed
obligations. The Council specifically reserves the right to approve or
disapprove the request after said public hearing.
Adopted: May 14, 2002.
Attest:
Mayor
City Clerk
The motion for the adoption of the foregoing Resolution was duly seconded by Council
Member , and upon vote being taken, the following voted in favor
thereof:
and the following voted against the same:
and the following were absent:
whereupon, said Resolution was declared duly passed and adopted and approved and
signed by the Mayor and attested by the City Clerk.
EXHIBIT A
NOTICE OF PUBLIC HEARING
ON PROPOSED PROJECT
AND THE ISSUANCE OF PRIVATE ACTIVITY BONDS
CITY OF OSHKOSH, WINNEBAGO COUNTY, WISCONSIN
Notice is hereby given that the Common Council of Oshkosh, Wisconsin (the "City") will
meet on Tuesday, June 11, 2002, at 6:00 p.m. in the City Hall, 215 Church Street,
Oshkosh, Wisconsin, for the purpose of conducting a public hearing to consider giving
host approval to the issuance by the City of Tomah, Wisconsin, or one of the other
Host Cities described below, of revenue obligations, in one or more series, under
Wisconsin Statutes, Sections 66.1101 through 66.1103 (the "Act"), in order to finance
the cost of a project located in the City. The project will consist of financing the costs of
the acquisition of a 16,456 square foot facility located at 1600 West 20th Street,
Oshkosh, Wisconsin, in the maximum amount of $1,230,000 (the "Project") all on behalf
of the owner, Goodwill Industries of North Central Wisconsin, Inc., a Wisconsin
nonstock, nonprofit corporation and organization described in Section 501(c)(3) of the
Internal Revenue Code of 1986, as amended (the "Corporation"). The Corporation has
proposed combining the financing for the Project with the financing of other projects
under the Act which are located in the Village of Ashwaubenon and the Cities of
Appleton, Eau Claire, Menomonie and Tomah, Wisconsin (collectively with the City, the
"Host Cities"), with the total amount of the obligations to be issued for the Project
presently being estimated at not to exceed $6,770,000 (the "Obligations"). The
Obligations and interest thereon shall not be payable from nor charged against any
funds of the Host Cities other than revenue pledged for the payment thereof, nor shall
the Host Cities be subject to any liability thereon. No holders of the Obligations shall
ever have the right to compel any exercise of the taxing power of the Host Cities to pay
the Obligations or the interest thereon, nor to enforce payment against any property of
the Host Cities. Such Obligations shall not constitute a charge, lien or encumbrance,
legal or equitable, upon any property of the Host Cities, nor shall the same constitute a
debt of the Host Cities within the meaning of any constitutional or statutory limitations.
The Obligations and the interest thereon are not an indebtedness of any of the Host
Cities, within the meaning of any state constitutional provision or statutory limitation,
and are not a charge against the general credit or taxing powers or a pecuniary liability
of any of the Host Cities.
All persons interested may appear and be heard at the time and place set forth above
or may submit written comments to the City Clerk at City Hall, 215 Church Street,
Oshkosh, Wisconsin 54901, in advance of the hearing.
Dated: May ,2002
CITY OF OSHKOSH, WISCONSIN
By:
City Clerk