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DECEMBER 28, 2004 04-465 RESOLUTION
(CARRIED___7-0__ LOST_______ LAID OVER______ WITHDRAWN______)
PURPOSE:RESOLUTION DIRECTING THE ADVERTISEMENT AND SALE OF
APPROXIMATELY $7,398,600 AGGREGATE PRINCIPAL AMOUNT OF
GENERAL OBLIGATION CORPORATE PURPOSE BONDS, SERIES
2005-A, APPROXIMATELY $2,535,000 AGGREGATE PRINCIPAL
AMOUNT OF GENERAL OBLIGATION PROMISSORY NOTES, SERIES
2005-B, OF THE CITY OF OSHKOSH, WINNEBAGO COUNTY,
WISCONSIN
INITIATED BY: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 approximate aggregate principal
amount of $7,398,600 for the purpose of acquiring, constructing and improving streets,
sanitary sewers, parks and projects 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 2005-A in an approximate aggregate principal amount of $7,398,600 (the
“Bonds”) for the purpose of acquiring, constructing and improving streets, sanitary
sewers, parks and projects 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 $2,535,000 for the purpose of acquiring, constructing and
improving sidewalks, traffic signals, equipment and improvements to public lands and
public buildings in the City; and
DECEMBER 28, 2004 04-465 RESOLUTION
CONT’D
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 2005-A in an approximate aggregate principal amount of $2,470,000 (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, it is considered desirable to offer all of the Bonds and the Notes 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 and the Notes, 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 and the Notes.
Section 2.After bids shall have been received for the Bonds and the Notes,
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 and Note, and will levy
taxes in the specific amount necessary to pay the principal of and interest on the Bonds
and the Notes.