HomeMy WebLinkAbout11-129MARCH 22, 2011
11 -129 RESOLUTION
(CARRIED 7 -0 LOST LAID OVER WITHDRAWN )
CITY OF OSHKOSH, WISCONSIN
RESOLUTION REGARDING
PUBLIC BIDDING AND NON - DISCRIMINATION IN CONNECTION WITH
INDUSTRIAL DEVELOPMENT REVENUE BOND FINANCING
WHEREAS, the City Council for the City of Oshkosh, Wisconsin (the "City ") has or will
approve an initial resolution for the issuance of industrial development revenue bonds (the
"Bonds ") by the City on behalf of Oshkosh Community Young Men's Christian Association, Inc., a
Wisconsin nonstock corporation, (the "Eligible Participant "); and
WHEREAS, the purpose for issuing the Bond is to refund the outstanding balance of the
$6,500,000 Town of Algoma, Winnebago County, Wisconsin Industrial Development Revenue
Bonds (Oshkosh Community YMCA Project) YMCA 2002 Bonds (the "2002 Bonds ") (the
"Refunding "); and
WHEREAS, the City finds it beneficial for the Refunding to waive the requirements of Wis.
Stat. 66.1103(11)(b) in connection with the Project;
NOW, THEREFORE, BE IT RESOLVED BY THIS CITY COUNCIL OF THE CITY OF
OSHKOSH, WISCONSIN, THAT:
1. The requirements as specified in Wis. Stat. 66.1103(11)(b)1. are to be waived
in accordance with the provisions of Wis. Stat. 66.1103(11)(b)2. with reference to the Refunding to
be financed with the industrial development revenue bonds of the City issued on behalf of the
Eligible Participant because the facility financed with the proceeds of the 2002 Bonds has already
been constructed and no construction will occur as part of the Refunding, and the City is not
responsible for controlling any of the costs of the Refunding and because it is more efficient and
expedient for the accomplishment of the public purposes of the Refunding if the Eligible Participant
were to have complete control over the Refunding.
2. The Bonds, when issued, will contain such provisions regarding non-
discrimination as the City shall require.
3. This resolution shall be published as a Class 1 notice in the official newspaper
of the City, The Oshkosh Northwestern prior to the closing of the bond issue.
Adopted , 2011
Pamela R. Ubrig, City Clerk
Approved , 2011
Paul Esslinger, Mayor