HomeMy WebLinkAbout33530 / 85-30RFSOLiIPION # 30
CITY OF OSHKOSH
RESOLUTION AMENDING INITIAL RESOLUTION
REGARDING INDUSTRIAL DEVELOPMENT REVENUE BONDS
(Eastern Technologies of Wisconsin, Inc. Project)
WHEREAS, this Counci.l did on March 21, 1985, adopt a
resolution entitled "City of Oshkosh, Wisconsin Initial Resolu-
tion for Revenue Bonds" in connection with a project proposed by
Eastern Technologies of Wisconsin, Inc. (the "Company") for the
acquisition of land in the City of Oshkosh and the constructing
and equipping thereon of a manufacturing facility and related
improvements, which resolution represented an initial resolution
pursuant to Section 66.521, Wis. Stats., as amended, and a bond
resolution or some other official action for purposes of the
United States Internal Revenue Code cf 1954, as amended; and
WxEREAS, it is necessary to amend such initial resolu-
tion to raise the maximum principal amount of bonds provided for
therein from $2,100,000 to $2,800,000;
NOW, THEREFORE, IT IS RESOLVED:
1. All references in such initial resolution to
"$2,100,000" are hereby amended as of the date of its original
adoption to read "$2,800,000."
2. The City Clerk is hereby directed to publish
notice of adoption of the initial resolution, as amended, as a
class 1 notice under Chapter 985, Wisconsin Statutes (relating to
publication of official notices) in the official newspaper of the
City of Oshkosh substantially in the form attached to this
resolution as well as to make necessary and appropriate filings
with the Secretary of the Department of Development of the State
o£ Wisconsin.
3. The initial resolution in all other respects is
approved and confirmed as of the date of its original adoption.
Introduced at a regular meeting of the Common Council
of the City of Oshkosh held this lst day of August, 1985.
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Passed and adopted this " day of August, 1985.
City Clerk
Approved this day of August, 1985.
�
`1�a��i� m. �o-,�,
Mayor "
J
RESOL�CPPION # 30
NOTICE TO ELECTORS OF
THE CITY OF OSHKOSH,
WISCONSIN
On March 21, 1985 the City Council of the City of
Oshkosh, Wisconsin, (the "MUnicipality") adopted an initial
resolution pursuant to Wisconsin Statutes Section 66.521 which
resolution was subsequently amended on August 1, 1985 stating the
intent of the Municipality
(i) to issue revenue bonds in one or more series in an
amount not to exceed $2,800,000 for the purpose of financing all
or a portion of the costs related to the acquisition of land in
the Municipality, the constructing an3 equipping thereon of a
manufacturing facility and making related improvements (the
"Project") to be initially used by Eastern Technologies of
Wisconsin, Inc., a Wisconsin corporation (the "Borrower"), in
connection with the manufacturing of tanks and for related
manufacturing and service activities and
(ii) to enter into one or more related revenue agree-
ments with the Borrower.
IF ISSUED, THE BONDS WOULD BE PAYABLE SOLELY FROM THE
REVENUES DERIVED FROM P REVENUE AGREEMENT RELATING TO THE FI-
NANCED PROJECT OR, IN THE EVENT OF DEFAULT OF THE REVENUE AGREE-
MENT, AS OTHERWISE AUTHORIZED BY THE MUNICIPALITY AND PERMITTED
BY LAW. THE BONDS WOULD NOT CONSTITUTE AN INDEBTEDNESS OF THE
MUNICIPALITY WITHIN THE MEANING OF ANY STATE CONSTITUTIONAL
PROVISION OR STATUTORY LIMITATION AND WOULD NOT CONSTITUTE OR
GII7E RISE TO A PECUNIARY LIABILITY OF THE MUNICIPALITY OR ITS
OFFICERS OR A CHARGE AGAINST THE MUNICIPALITY'S GENERAL CREDIT OR
TAXING POitiERS.
The resolution may be inspected by any elector of the
Municipality at the office of the Clerk, 215 Church Avenue,
Oshkosh, Wisconsin 54901, durinq business hours.
Wisconsin Statutes Section 66.521(10)(d) reads as
follows with respect to the opportunity to petition for a refer-
endum upon the question of the issuance of the Bonds:
"(d) The governing body may issue bonds
under this section without submitting the
proposition to the electors of the munici-
pality for approval unless within 30 days
from the date of publication of notice of
adoption of the initial resolution for such
bonds, a petition, signed by not less than 5�
of the registered electors of the municipal-
ity, or, if there is no registration of
electors in the municipality, by 10� of the
number of electors of the municipality voting
�
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Dated:
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RESOLUTION # 30
for the office of governor at the last
general election as determined under
s.115.01(13), is filed with the clerk of the
municipality requesting a referendum upon the
question of the issuance of the bonds. If
such a petition is filed, the bonds shall not
be issued until approved by a majority of the
electors of the municipality voting thereon
at a general or special election."
1985.
- 38b -
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SUBMITTED BY
APPROVED
Clerk
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