HomeMy WebLinkAbout08-101MARCH 25, 2008
08-101 RESOLUTION
(CARRIED 7-0 LOST LAID OVER WITHDRAWN )
RESOLUTION directing the advertisement and sale of Water Revenue Bond
Anticipation Notes, Series 2008-C of the City of Oshkosh, Winnebago County,
Wisconsin, in an aggregate principal amount not to exceed $6,880,000.
WHEREAS, cities are authorized by the provisions of Section 66.0621 of the Wisconsin
Statutes, as supplemented and amended (the "Act's, to borrow money and issue revenue
bonds to provide public utilities and to refund any outstanding revenue bonds; and
WHEREAS, it is necessary that funds be raised by the City of Oshkosh, Winnebago
County, Wisconsin (the "City's in an aggregate principal amount not to exceed $6,880,000 for
the purpose of constructing, extending, adding to and improving the water system of 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 water revenue bonds in an aggregate principal amount
not to exceed $6,880,000 for the purpose of constructing, extending, adding to and improving
the water system of the City; and
WHEREAS, cities are authorized by the Act, to borrow money and to issue bond
anticipation notes in anticipation of the issuance of revenue bonds in order to finance the
costs of constructing, extending, adding to and improving public utilities; and
WHEREAS, it is considered necessary and desirable by the City Council of the City that
funds be raised by the City in an aggregate principal amount not to exceed $6,880,000 for the
purpose of constructing, extending, adding to and improving the water system of 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 Water Revenue Bond Anticipation Notes, Series 2008-C
in an aggregate principal amount not to exceed $6,880,000 (the "Notes' for the purpose of
constructing, extending, adding to and improving the water system of the City, in anticipation
of the issuance of such water revenue bonds; and
WHEREAS, it is considered desirable to offer all of 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 the Notes for sale, 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 Notes.
Section 2. After bids shall have been received for the Notes, this City Council will
adopt additional proceedings to award the same to the best bidder or bidders and prescribe
the terms thereof and the form of Note.
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