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JUNE 28, 200505-203RESOLUTION
(CARRIED __5-2___ LOST_______ LAID OVER ________ WITHDRAWN ________)
Resolution authorizing the issuance of General Obligation Bonds and
Promissory Notes of the City of Oshkosh, Winnebago County, Wisconsin,
in an aggregate principal amount not to exceed $93,000,000, and
directing the advertisement and sale of such General Obligation Bonds
and Promissory Notes of the City of Oshkosh, Winnebago County,
Wisconsin.
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 bonds
and 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 of Oshkosh,
Winnebago County, Wisconsin (the “City”) in an aggregate principal amount not to
exceed $93,000,000 for the purpose of acquiring, constructing and improving streets
and alleys (including without limitation, signage, lighting, curbs and gutters), sidewalks,
traffic signals, bridges, dams, sanitary sewers, storm sewers, water mains and
waterworks, parks and park facilities and public grounds, libraries and library
equipment, harbor facilities, projects with tax increment financing districts,
improvements to public lands and public buildings and equipment 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 Bonds and Promissory
Notes in an aggregate principal amount not to exceed $93,000,000 (the “Bonds and
Notes”) for the purpose of acquiring, constructing and improving streets and alleys
(including without limitation, signage, lighting, curbs and gutters), sidewalks, traffic
signals, bridges, dams, sanitary sewers, storm sewers, water mains and waterworks,
parks and park facilities and public grounds, libraries and library equipment, harbor
facilities, projects within tax increment financing districts, improvements to public lands
and public buildings and equipment in the City; and
Now, Therefore, Be It Resolved by the City Council of the City of Oshkosh,
Winnebago County, Wisconsin, as follows:
Section 1.The City Council of the City hereby authorizes the issuance of the
Bonds and Notes by the City in an aggregate principal amount not to exceed
$93,000,000 for the purposes set forth in this resolution. For the purpose of paying the
various installments of principal of and interest on the Bonds and Notes as they
severally mature, there is hereby levied on all taxable property in the City a direct
annual irrepealable tax sufficient for that purpose. The Bonds and Notes may be
issued in such number of series as the City Council of the City shall determine.
JUNE 28, 200505-203RESOLUTION
CONT’D
Section 2.For the purpose of offering the Bonds and Notes for sale, the City
Manager of the City is hereby authorized to cause an appropriate notice or notices of
the sale thereof to be published in a newspaper to be selected by the City Manager of
the City. The City Manager of the City shall also cause to be prepared and distributed
an Official Statement or Statements, including Official Terms of Offering, with respect to
the Bonds and Notes.
Section 3.After bids shall have been received for the Bonds and Notes, this
City Council will adopt additional proceedings to award the same to the best bidder or
bidders, to prescribe the terms thereof and the forms of Bonds and Notes and to levy
taxes in the specific amount necessary to pay the principal of and interest on the Bonds
and Notes.
Adopted:June 28, 2005.
Approved:June 28, 2005.
Recorded:June 28, 2005.
/s/ William R. Castle
Mayor
Attest:
/s/ Pamela R. Ubrig
City Clerk