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Home My WebLink About04-322 SEPTEMBER 15, 2004 04-322 RESOLUTION (CARRIED 7 -0 LOST LAID OVER WITHDRAWN PURPOSE: APPROVE FUND TRANSFER; APPROVE REIMBURSEMENT / UTILITY EXTENSION - NORTHWEST INDUSTRIAL PARK INITIATED BY: CITY ADMINISTRATION WHEREAS, the City of Oshkosh desires to expand the Northwest Industrial Park; and WHEREAS, in order for said purpose to be accomplished, public utilities must be extended to said area; and WHEREAS, expenditures relating to the extension of public utilities will be paid on or after the passage of this resolution and the City reasonably expects to reimburse itself for these expenditures from future borrowing by incurring debt; and WHEREAS, it is necessary to transfer funds from General Fund Equity to finance this work until such time that future borrowing is completed. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of Oshkosh that the Common Council certifies that in order for the expansion of the Northwest Industrial Park to proceed it is necessary to extend public utilities and the proper City officials are authorized and directed to take those steps necessary to extend such utilities. BE IT FURTHER RESOLVED that the estimated cost from Wisconsin Public Service Corp. to extend utilities is Eighty Thousand Dollars and NO/100 ($80,000.00). BE IT FURTHER RESOLVED that this Resolution is a declaration of official intent under Treasury Regulation Section 1.103-18, or amendment thereto, and shall be made available for public inspection pursuant to Chapter 19 of the Wisconsin Statutes. The maximum principal amount of the obligation expected to be issued for this project is Eighty Thousand Dollars and NO/100 ($80,000.00), which includes, but is not limited to, the extension of public utilities and related expenses. BE IT FURTHER RESOLVED that the proper City officials are authorized and direct to transfer the sum of Eighty Thousand Dollars and NO/100 ($80,000.00) from Account No.1 00-0071-3460-00000 -- General Fund Equity to Account No. 528-1040- 6401-00000 TIF 19 - Northwest Industrial Park.