HomeMy WebLinkAbout34300 / 87-524A The City Council of the City oP Oshkosh, Wisconsin, met in regular open,
public session at its regular meeting place on February 19, 1987, at 7:00 o'clock P.M.,
with the following members present: pon H, xutchera, tcathleen M. Propo� oonald w.
Piessley, Thomas J. Binner, Killian G. Spanbauer and Flovd R. Chapin.
and the following members absent: Jaznes n. nather
. . . s
(Other business)
The following initial resolution was introduced by xutc?�era and
read in [ull:
INITfAL RESOLUTfON authorizing not exceeding E9,000,000
bonds of the City of Oshkosh.
BE IT RESOLVED by the City Council of the City of Oshkosh, Wisconsin,
that there shall be issued the general obligation bonds of sflid City in an aggregate
principal amount not exceeding $9,000,000 for the public purpose of refunding in advance
of maturity certain generel obligation bonds and notes of said City. For the purpose of
peying the various installmen[s of principa] and in[erest on the bonds herein authorized
as they severally meture, prior to the issuance and delivery of said bonds there shall be . , , .
levied on ell tasable property in said City a direct annuel irrepealable tax sufficient for . . .
that purpose.
-1-
Upon motion of x�t�nera seconded by
eropp , the following members vo[ed:
Aye: Kutchera, Propp, Pressley, Spanbauer, Chapin
PRESENT: Binner
(Zgy; None
Adopted February 19, 198T
Approved Februaryl9 , 1987
Recorded February 19 , 1997
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S;avo
Attest:
� ��;,
City Cle k� �
_�_
The City Clerk was instructed to publish notice oF the adoption of said
initial resolution in the Oshkosh Daily Northwestern, the official city newspflper, within
fifteen (15) days oY the recording thereof such notice to be in the form of Exhibit A
hereto.
Thereupon, the Pollowing resolution was introduced by xet�hara
and read in full:
Resolution providing for the marketing of refunding bonds.
. Whereas, the City Council of the City of Oshkosh ([he "City") has adopted
an initial resolution providing for the issuance of not exceeding f9,000,000 Refunding
Bonds of the City; and
Whereas, it is deemed desirable for the City to provide for the marketing
of such Reiunding Bonds through the appaintment of aoprooriate firms ana cne
distrbution of an Official Statement of the City with respect to such Refunding Bonds;
Now Therefore, Be it Resolved by the City Council ot the CitV oY Oshkosh,
Wiscansin, es follows:
Section 1. That the First Wisconsin National Bank of Milwaukee and S2ern
Brothers dc Co. are authorized to develop a plan of refunding certain outstanding generai
obligations of the City and of marketing the necessary Refunding Bonds.
Section 2. That upon determination af the flppropriate amount and terms �
oP such Retunding Bonds, such Refunding Bonds shall be sold on a negotiated basis to the
First Wisconsin National Bank of Milwaukee and Stern Brothers & Co.
Section 3. That this City Council shall, by resolution adopted on a
subsequent date, determine the details of such Refunding Bonds, including the purchase
price thereof, shall award such Refunding Bonds to the purchasers and shall authorize the
executian of all instruments necessary in connection therewith.
Section 4. That the Director of Finance of the City is authorized to cause
an Official Statement with res-pect to such Refunding Bonds to be prepared and
distributed.
_a_
Upon motion of Kut�hPra seconded by
spanbauer , the Pollowing mem6ers voted:
Aye: Kutchera, Propp, Pressley, Spanbaver, Chapin
PRESENT: Binner
Nay. None
Adopted February 19� 1987
Approved February 15 , 1987
Recorded February 19 , 1987
��-.�' .t' �' '-�-� -
Mavor
Attest:
41/1� G�. � '�UAl�lo�
City Clerk
+ • •
(Other business)
There being no further business to come before the City Council it was
moved by tcutchera , seconded by propp , and
unanimously carried that the City Council adjourn.
Approved February 19 , 1987
�`�a�=�
AttesL•
1?�Il : iLLI�A�
City Clerk
STATE OF WISCONSIN )
) SS:
COUNTY OF WINNEBAGO)
I, DONNA C. SERWAS, hereby certify that I am the duly qualified and
acting City Clerk of the City oF Oshkosh, Wisconsin, and as such officiallfurther certify
that attached hereto is a copy of excerpts from the minutes of the meeting of the City
Council af said City held on February 19, 198T; that I compared said copy with the
original minute record oY said meeting in my official e�stody; and that said copy is a
true, correct and complete iranscript from said original minute record insofar as said
original record relates to the proposed $9,000,000 general obligation bonds oY said City.
WITNESS my official signature and the seal of said City this
19th day of February, 1987.
�-,anJ �. .�fcr�o/
City C erk
(SEAL)
OFFICIAL NOT[CE TO ELECTORS
OF ADOPTION OF
INiT1AL RESOLUTION
An Initial Resolution was adopted at the February 19, 1987, regular
meeting of the City Council of the City of Oshkosh providing for the issuance of general
obligation bonds of the City in an amount not exceeding 59,000,000 for the purpase oF
reFunding certain outstanding general ob(igations of the City.
For the purpose of paying the various installments of principal and interest
on the aforesaid bonds es they severally mature, prior to their issuance and delivery
there shall be levied on all taxable property in the City a direct annual irrepealable tarz
sufficient for that purpose.
The bonds authorized to be issued by the Initial Resolution referred to
above shall be issued by the City of Oshkosh unless. before 4:U0, P.ID[.. on iaazen 23�, 1987,
a oetition is filed in the office of the City Clerk by electors numberin¢ at least ten per
cent (10%) of [he votes cast for governor in the City at the last ¢eneral election
requesting thaithe initial resolution be submitted to the electors.
Dated February 19, 1987 /5/ Donna C. Serwas
City Clerk
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