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Excerpts of Minutes of Open Meeting of the
City Council of the City of Oshkosh
A duly-convened meeting of the City Council of the City of
Oshkosh, Winnebago County, Wisconsin, was held in open session upon due
notice in the Council Chambers, City Hall on March 4, 1985, and called
to order by Mavor Propp at 4:00 P.M. The following Council Members
were present:
Bernice Teichmiller, Floyd Chapin, Charles Hulsebosch, Don Kutchera,
James Mather, Kathleen Propp
The following Council Members were absent:
Robert Pung
The meeting was opened with the announcement that this was an open
meeting of the City Council. Notice of this meeting was given to the
public at least 24 hours in advance of the meeting by forwarding the
complete agenda to the official City newspaper, The Oshkosh Daily
Narthwestern, and to all news media who have requested the same as well
as posting- Copies of the complete agenda were available for
inspection at the City Clerk's office. Anyone desiring information as
to forthcoming meetings should contact the City Clerk's office.
(Here occurred business not pertinent to the bond authorization.)
. .
The following resolution was moved by Council Member Kutchera
and seconded by Council Member Chapin , and upon roll call vote,
duly adopted by a vote of 5 to 1:
Resolution No. 3
A RESOLUTION AUTHORIZING THE CITY OF OSHKOSH TO BORROW
THE SUM OF $30,560,000 BY ISSUING GENERAL OBLIGATION
REFUNDING BONDS PURSUANT TO SECTION 6�.04 OF THE
WISCONSIN STATUTES
WHEREAS the City of Oshkosh, Winnebago County, Wisconsin
(sometimes hereinafter called the "City") is presently in need of the
sum of Thirty Million Five Hundred Sixty Thousand Dollars ($30,560,000)
for the public purpose of refunding obligations of the City, including
interest on them; and
WHEREAS the City Council of the City deems it necessary and in the
best interest of the City that said sum be borrowed through the
issuance of general obligation bonds pursuant to the provisions of
Chapter 67, Wis. Stats., upon terms and conditions hereinafter
provided; and
WHEREAS the City has adopted an initial resolution authorizing the
issuance of general obligation bonds in an amount not to exceed
$31,665,000 for said purpose;
NOW, THEREFORE, BE IT RESOLVED that:
Section 1. Sale of Bonds. The City of Oshkosh, Winnebago County,
Wisconsin, shall sell and deliver its $30,560,000 General Obligation
Refunding Bonds, Series 1985 (the "Bonds"), issued for the purpose
above stated, to First Wisconsin National Bank of Milwaukee and Stern
Brothers & Co., foz the purchase price of $29,490,040, in conformity
with the attached bond purchase agreement (Exhibit A). Said agreement
is hereby approved, and the appropriate City officials are hereby
authorized and directed to execute the same.
Section 2. The Bonds. The City Manager and City Clerk shall
make, execute and deliver the Bonds to said purchasers, for and on
behalf of the City. The Bonds shall be negotable, general obligation
bonds of the City, registered as to both principal and interest, in the
denomination of Five Thousand Dollars ($5,000) each, or whole multiples
thereof, numbered from R-1 upward and dated March 1, 1985. The Bonds
shall mature on May 1 of each of the years and shall bear interest as
follows:
�
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OSIIEOSI!, NISCONSIN 6.0. REFU12D1N6 ISSUE DATED 5-1-85
S YEAP.S UF LAP.GER S!,VIliGS, THEN LEVEL SAVIiiGS
�EBT SERYICE SCHEDULE
�AiED DAiE: 03/O1/35
DELII'EP,Y DATE: 03!28/85
DATE PP,II�CIPdI RATE
------ -------------- -°--
05J01/E6 2,850,0OO.OD 6.250
11/01�86
us/oi/c� z,v�o,000.00 �.000
11/O1/87
�5/01/88 2,915,000.00 J.500
il/0:/F3
OS/01/SY 2,E9�,OOO.OD 8.0�0
I1/O1/29
os/oi/so 2.,�ao,00a.00 s.2so
11/O1J90
OS/O1/91 2,565,0��.00 8.500
11/01�91
OS/01;�2 2,475,�00.00 8.750
11/01/92
OSJ01;93 2,4�0,000.00 9.O�D
11J01/93
OS/01�94 2,350,000.00 9.150
ilioi/va
�5J01/95 1,370,000.00 9.300
11/O1/?5
OS/01/96 520,000.00 9.400
1;/O1/36
OSJ�I/9) 675,000.00 9.6�0
11/O1/91
OS/O1;?c� 670,00�.00 9.600
1lJOlJ93
OS/O1/99 750,000.0� ?.900
11/01/99
OS/01/OC 645,0�0.00 l0.000
1:/O1/00
05,�01/O1 465,000.�0 10.000
!1/O1/O1
OS(O1/02 465,000.00 10.�50
I1/O1/02
os/oi�oa aeo,000.00 io.ioo
iiroiroa
OS/01/Od 3d5,00�.00 10.100
-------- ------------- ------
TOTA; 30,560,000.00
ACCRU[D
HET COSi
AVEAAGE COUPON
TIC
BOIiD YEAP,S
AVEHAGE LIFE
NIC
INTEREST
2,976,643.33
1,186,721.50
I,1E6,727.50
1,032,777.50
1,082,777.50
973,465.00
973,465.00
851,965.00
B57,B65.D�J
7d4,840.0�
74A,S40.00
635,527.50
635,621.50
S:7,Sd6.25
527,546.25
419,Sd6.25
d19,546.25
312,033.75
312,033.75
243,323.75
?48,323.75
223�BSu.75
223,888.75
191,4u3.75
191,428.75
150,653.75
158,652.75
121,533.75
121,533J5
99,283.15
89,283.75
6b,033.75
66, 033 JS
41,662.50
A1,662.50
11,422.50
17,d22.50
1A,774,703.33
191,360.50
18,563,334.03
TOTAL
5,626,843.33
1,186,727.50
4,156,727.50
1,082,111.50
3,99J,777.50
973,465.00
3,86J,465.00
351,865.00
3,597,B65.OD
�aa,eao.00
3,309,Bd0.00
635,d27.50
3,110,927.50
5;7,546.:5
2,927,54c.25
419,54ti.:5
?,169,54n.25
312,D.i3.15
1,682,033.75
242,325.15
166,328J5
223,385.75
B98,68E.75
191,488J5
861, 466 JS
153,658.15
906,65b.75
121,533.15
766, 533 JS
89,283.75
554,283.75
66,033.75
SS1,D33.75
41,662.50
521,662.50
11,422.50
362,422.50
49,334,)03.33
191,3ti8.50
49,143,334.83
9.02339
8.61730 (FROH DELIVEfiY DATE)
20�,238.333�3 (FROM DATED DA1E1
ti.13909
9.01597 IFROH DAiEG LhiE)
FISCAI TUTAL
),013,570.83
5,239,505.00
4,971,242.50
4,721,330.00
4,34:,705.00
3,945,661.50
3,638,373.15
3,347,092.50
3,081,590.OD
1,930,362.50
992,:17.50
1,090,3)J.50
1,020,141.50
1,030,192.50
855,817.50
b20,317.50
592,696.25
539,U85.00
362,422.50
� .
°ear
1986
1987
19B8
1969
1990
1991
1992
1993
1994
1995
1996
1997
1996
1999
2000
2001
2002
2003
2004
Principal
Amount
Interest Rate
Said interest shall be payable on May 1 and November 1 of each year,
commencing May 1, 1986.
The Bonds shall be subject to call and redemption prior to
maturity as provided in the bond form herein provided.
Section 3. Form of Bonds. The Bonds shall be substantially in
the following form:
3
Number Rate
R-
(FOrm of Bond)
UNITED STATES OF AMERICA
STATE OF WISCONSIN
COfJNTY OF WINNEBAGO
CITY OF OSHKOSH
GENERAL OBLIGATION REFUNDING BOND, SERIES 1985
Date of
Maturity Date Original Issue
March 1, 1985 $
Amount CUSIP
KNOW ALL MEN BY THESE PRESENTS: That the City of Oshkosh,
Winnebago County, Wisconsin (the "City"), hereby acknowledges itself to
owe and for value received promises to pay to , or
registered assigns, the principal sum of
DOLLARS ($ ) on the maturity ate
speci ied above, together with interest thereon from March 1, 1985 or
the most recent payment date to which interest has been paid, unless
the date of authentication of this Bond is after the 15th day of the
calendar month immediately preceding an interest payment date, in which
case interest will be paid from such interest payment date, at the rate
per annum specified above, such interest being payable on the first
days of May and November of each year, with the first interest on this
issue being payable on May 1, 1986. For the prompt payment of this
Bond with interest hereon as aforesaid, the full faith, credit and
resources of the City have been and are hereby irrevocably pledged.
Bonds of this issue maturing in the years 1996 through 2004 shall
be subject to call and prior payment at the option of the City in whole
or from time to time in part in inverse order of maturity (but within
any maturity by lot) on May 1, 1995, or on any interest payment date
thereafter, at the price of par plus accrued interest to the date of
redemption. Notice of such call shall be given by the mailing of a
notice thereof by registered or ceztified mail at least thirty (30)
days prior to the date fixed for redemption to the registered owner of
each Bond to be redeemed at the address shown on the registration
books.
Both principal hereof and interest hereon are hereby made payable
to the registered owner in lawful money of the United States of
America. The principal of this Bond shall be payable only upon
presentation and Surrender of this Bond at the principal office of
First wisconsin Trust Company, Milwaukee, Wisconsin, the Fiscal Agent,
or any successor thereto. Interest hereon shall be payable by check or
draft dated as of the applicable interest payment date and mailed from
the office of the Fiscal Agent to the person in whose name this Bond is
registered at the close of business on the fifteenth day of the
calendar month next preceding each interest payment date.
This Bond is transferable only upon the books of the City kept for
that purpose at the principal office of the Fiscal Agent, or any
successor thereto, by the registered owner in person or his duly
authorized attorney, upon surrender of this Bond together with a
written instrument of transfer (which may be endorsed hereon)
satisfactory to the Fiscal Agent duly executed by the registered owner
or his duly authorized attorney. Thereupon a new Bond or Bonds of the
same aggregate principal amount, series and maturity shall be issued to
the transferee in exchange therefor. The City and Fiscal Agent may
deem and treat the person in whose name this Bond is registered as the
absolute owner hereof for the purpose of receiving payment of or on
account of the principal or interest hereof and for all othez purposes.
The Bonds are issuable solely as negotiable, fully-registered Bonds
without coupons in authorized denominations of $5,000 or any whole
multiple thereof.
This Bond is one of an issue aggregating $30,560,000, each of
which is of like oziginal issue date and tenor except as to numbers,
interest rates, redemption privilege and maturities, issued for the
public purpose of refunding obligations of the City, including interest
on them pursuant to an initial resolution duly adopted by the City
Council at a meeting duly convened on February 21, 1985 and in full
conformity with the Constitution and laws of the State of Wisconsin
thereunto enabling,
This Bond shall not be valid or obligatory for any purpose until
the Certificate of Authentication hereon shall have been signed by the
Fiscal Agent.
Zt is hereby recited and certified that all acts, conditions and
things required by law to be done precedent to and in the issuance of
this Bond have been done, have happened and have been performed in
regular and due form, time and manner; that a direct, annual
irrepealable tax has been levied by the City sufficient in times and
amounts to pay the interest on this Bond when it falls due and also to
pay and discharge the principal hereof at maturity; and that this Bond,
together with all other existing indebtedness of the City, does not
exceed any constitutional or statutory limitation of indebtedness.
IN WIZSIESS WHEREOF, the City of Oshkosh, Winnebago County,
Wisconsin has caused this Bond to be executed in its behalf by the
facsimile signatures of its City Manager and City Clerk, and its
corporate seal or a true facsimile thereof to be impressed or imprinted
hereon all as of the date of original issue specified above.
Date of Authentication:
CITY OF OSHROSH�
WINNEBAGO COUNTY, WISCONSIN
By_ (facsimile) By (facsimile)
City Clerk City Manager
5
(Form of Certificate of Authentication)
CERTIFICATE OF AUTHENTICATION
This Bond is one of the issue authorized by the within-mentioned
initial resolution of the City of Oshkosh, Wisconsin.
FIRST WISCONSIN TRUST COMPANY
Fiscal Agent
By
Authorized Signatory
(Form of Assignment)
FOR VALIIE RECEIVED the undersigned hereby sells, assigns and
transfers unto
Please insert Social Security or other identifying number of Assignee
(Please print or typewrite name and address, including zip code, o
Assignee}
the within Sond, and all rights thereunder, hereby irrevocably
constituting and appointing
Attorney to transfer said Bond on the books kept for the registration
thereof with full power of substitution in the premises.
0
Dated:
Signature(s) guaranteed by:
7
NOTICE: The signature to this
assignment must correspond with
the name as it appears upon the
face of the within Bond in every
particular, without alteration or
enlargement or any change whatever.
Section 4. Tax Provisions.
(A) Dizect Annual Irrepealable Tax. For the purpose of
paying the principal of and interest on the Bonds as the same become
due, the full faith, credit and resources of the City are hereby
irrevocably pledged and there be and there hereby is levied on all the
taxable property in the City a direct, annual, irrepealable tax in such
years and in such amounts as are sufficient to meet such principal and
interest payments when due; said tax is hereby levied in the following
years and in the following minimum amounts:
Year of Levy Amount
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
Year of Levy Amount
1995
1996
1997
1998
1999
2000
2001
2002
2003
(B) Tax Collection. The City shall be and continue without
power to repeal such levy or obstruct the collection of said tax until
all such payments have been made or provided for. After the issuance
of the Sonds, said tax shall be, from year to year, carried into the
tax rolls of the City and collected as other taxes are collected,
provided that the amount of tax carried into said tax rolls may be
reduced in any year by the amount of any surplus money in the Debt
Service Account created in Section 5(A) hereof.
(C) Additional Funds. If in any year there shall be
insufficient funds from the tax levy to pay the principal of or
interest on the Bonds when due, the said principal or interest shall be
paid from other funds of the City on hand, said amounts to be returned
when said taxes have been collected.
Section 5. Debt Service Fu� and Account.
(A) Creation and Deposits. There be and there hereby is
established in the treasury of the City, if one has not already been
created, a debt service fund separate and distinct from every other
fund, which shall be maintained in accordance with generally accepted
accounting principles. Sinking funds established for obligations
previously issued by the City may be considered as separate and
distinct accounts within the debt service fund.
Within the debt service fund, there be and there hereby is
established a sepazate and distinct account designated as the "Debt
Service Account for 'General Obligation Refunding Bonds, Series 1985'
dated March 1, 1985," (the "Debt Service Account") and said Account
shall be maintained until the indebtedness evidenced by the Bonds is
fully paid or otherwise extinguished. The City Treasurer shall deposit
0
in such Debt Service Account (i) all accrued interest received by the
City at the time of delivery of and payment for the Bonds; (ii) the
taxes herein levied for the specific purpose of ineeting principal of
and interest on the Bonds when due; (iii) such other sums as may be
nec2ssary at any time to pay principal of and interest on the Bonds
when due; (iv) any premium which may be received by the City over and
above the par value of the Bonds and accrued interest thereon; (v)
surplus monies in the Borrowed Money Fund as specified in Section 6
hereof; and (vi) such further deposits as may be required by Sec.
67.11, Wis. Stats.
(B) Use and Investment. No money shall be withdzawn from the
Debt Service Account and appropriated for any purpose other than the
payment of principal of and interest on the Bonds until all such
principal and interest has been paid in full and canceled; provided (i)
the funds to provide for each payment of principal of and interest on
the Bonds prior to the scheduled receipt of taxes from the next
succeeding tax collection may be invested in direct obligations of the
United States of America maturing in time to make such payments when
they are due; and (ii) any furx3s over and above the amount of such
principal and interest payments on the Bonds may be used to reduce the
next succeeding tax levy, or may, at the option of the City, be
invested by purchasing the Bonds as permitted by and subject to Section
67.11(2)(a), Wis. Stats.; in interest-bearing obligations of the United
States of America; or in other obligations of the City, which
investments shall continue a part of the Debt Service Account.
{C) Remaining Monies. When all of the Bonds have been paid
in full and canceled, and all permitted investments disposed of, any
money zemaining in the Debt Service Account shall be deposited in the
general fund of the City, unless the City Council directs otherwise.
Section 6. Borrowed Money Fund. All monies received by the City
upon the delivery of the Bonds to the purchasez thereof except for
accrued interest and premium, if any, shall be deposited by the City
Treasurer into a Borrowed Money Fund and such fund shall be maintained
separate and distinct from all other funds of the City and shall be
used for no purpose othet than the purposes for which the Bonds are
issued. Monies not immediately needed for such purposes may be invested
in time deposits in any bank, trust c�npany or savings and loan
association licensed to do business in Wisconsin, such deposits to
mature within one year of the date of investment or the date such
deposits are needed, whichever is earlier, oi in bonds or securities
issued or guaranteed as to principal and interest of the United States
Government or of a commission, board or other instrumentality of the
United States Government. Any monies, including any income fro�
permitted investments, remaining in the Borrowed Money Fund after the
purposes for which the Bonds have been issued have been accomplished,
and, at any time, any monies as are not needed and which obviously
thereafter cannot be needed for such purposes shall be deposited in the
Debt Service Account.
Section 7. No Arbitrage. All investments permitted by this
resolution shall be legal investments, but no such investment shall be
made in such a manner as would cause the Bonds to be "arbitrage bonds"
�
within the meaning of Section 103(c)(2) of the Internal Revenue Code of
1954, as amended, or the Regulations of the Commissioner of Internal
Revenue thereunder; and an officer of the City, charged with the
responsibility for issuing the Bonds, shall certify as to facts,
estimates, circumstances and reasonable expectations in existence on
the date of closing which will permit the conclusion that the Bonds are
not "arbitrage bonds," within the meaning of said Code or Regulations.
Section 8. Fiscal Aqent. The City will enter into a contract
First Wisconsin Trust Company, Milwaukee, Wisconsin, to sezve as its
fiscal agent with respect to the Bonds pursuant to Wis. Stats. Sec.
67.10(2), which contract shall be substantially the form attached
hereto as Exhibit B. The City Manager and City Clerk are hereby
authorized to enter into such contract on the City's behalf. Such
contract may provide among other things, for the performance by the
fiscal agent of the functions listed in Wis. Stats. Sec. 67.10(2)(a) to
(j), where applicable, with respect to the Bonds.
Section 9. Persons Treated as Owners; Transfer of Bonds, The
City Clerk shall cause books for the registration and for the transfer
of the Bonds to be kept by the fiscal agent. The person in whose name
any Bond shall be registered shall be deemed and regarded as the
absolute owner thereof for all purposes and payment of either principal
or interest on any Bond shall be made only to the registered owner
thereof. All such payments shall be valid and effectual to satisfy and
discharge the liability upon such Bond to the extent of the sum or sums
so paid.
Any Bond may be transferred by the registered owner thereof by
surrender of the Bond at the office of the fiscal agent, duly endorsed
for the transfer or accompanied by an assignment duly executed by the
zegistezed owner or his attorney duly authorized in writing. Upon such
transfer, the fiscal agent shall execute and delivez in the name of the
transferee or transferees a new Bond or Bonds of a like aggregate
principal amount, series and maturity and shall record the name of each
transferee in the registration book. No registration shall be made to
bearer. The fiscal agent shall cancel any Bond surrendered for
transfer.
The fifteenth day of each calendar month next preceding each
interest payment date shall be the record dates for the Bonds. Payment
of interest on the Bonds on any interest payment date shall be made to
the registered owners of the Bonds as they appear on the registration
book of the fiscal agent on the corresponding record date.
Section 10. Escrow Trust Agreement• Appropriation of Additional
Funds. For the purpose of providing for the payment and redemption of
the obligations of the City being refunded by the Bonds (the
"Outstanding Obligations"), the officers of the City are hereby
authorized and directed to execute an Escrow Trust Agreement, in
substantially the form attached hereto as Exhibit �, with First
Wisconsin Trust Company, Milwaukee, Wisconsin, as Escrow Trustee with
respect to the proceeds of the Bonds. The deposit of the proceeds of
the Bonds into the Refunding Escrow Account to be established with the
Escrow Trustee is hereby authorized and directed to be accomplished
10
immediately upon receipt of payment for the Bonds at the closing
thereon, and the subsequent use, investment and disbursement thereof by
the Escrow Trustee in the manner provided in the Escrow Trust Agreement
is hereby authorized and approved.
Such additional funds of the City (if any) as may be necessary to
provide for the payment in full of the Outstanding Obligations are
hereby appropriated for that purpose, and the deposit of such funds
into the Refunding Escrow Account and the subsequent use, investment
and disbursement thereof by the Escrow Trustee in the manner provided
in the Escrow Trust Agreement is hereby authorized and approved.
Section 11. Call of Obligations. Those issues of Outstanding
Obligations described in Exhibit D hereto (the "Called Obligations")
are hereby called for prior payment on the respective dates set forth
in Exhibit D, Notice of the call of the Called Obligations shall be
given at such times and in such manner as is necessary or desirable in
accordance with the terms of the Called Obligations.
Section 12. Closing. The City Manager and City Clerk are hereby
authorized and directed to execute and deliver the Bonds to the
purchaser thereof upon receipt of the purchase price. The City Manager
and City Clerk may execute the Bonds by manual or facsimile signature,
but, unless the City has contracted with the fiscal agent to
authenticate the Bonds, at least one of said officers shall sign the
Bonds manually.
The officers of the City hereby are directed and authorized to
take all necessary steps to close the bond issue as soon as practicable
hereafter, in accordance with the terms of sale thereof, and said
officers are hezeby authorized and directed to execute and deliver such
documents, certificates and acknowledgments as may be necessary or
convenient in accordance therewith.
Adopted March 4, 1985.
J��c�� J71. ���;�,
Ma}�'c�r
'� . �
. .
City Clerk
11
• y
The Resolution was thereupon declared adopted.
(Here occurred business not pertinent to the bond issue.)
Upon motion made and seconded, the meeting was adjourned.
Dated March i, 1985 � �; � � ;;`,
Donna C. Serwas, City Clerk ,
City of Oshkosh
12
EXHIBIT A
�''T','^-"9 Fl�Z�T `JVlSCONSIN • r.�IU�JAUI<EE
j.;� ;� �
;� ,,
,
1.1UNICIPAI AND vOVGRNMENiHL
FiNANCE DI'✓ISION
March 4, 1985
I3onorable Mayor and City Council
City of Oshkosh
215 Church Street
Oshkosh, Wisconsin 54902
Honorable Mayor and Council Members:
At the present tiure the City of Oshkosh, Wisconsin has outstanding various
General Obligation bond and note issues. The City has decided to advance
refund sul�stantially zll of these bonds and notes, effectively re-structuring
its existing debt service.
Based or. the above, First Wisconsin National Bank of Milwaukee and Stern
srethers and Canpany (hereinafter the Undenariters) hereby contract with you
as follaas:
1. For $30,560,000 par value o£ City of Oshkosh, Winnebago County,
v,isconsin General Wligation Refvnding Bonds, Series 1985, we will pa��
the City 'IWenty-*7ine Million Four Hundred Ninety Thousand Four Huncred
Dollars ($29,490,400) plus accrued interest £rom March 1, 1985 to the
date of delivery to us. The purchase price reflects a discount of
three and one-half percent (3-1/201. The discount is c�nprised
approximately as follaas: undenvriting three percent (38) and
issuance expenses one-half percent (1J2�). The bonds will be in
55,000 denomir:ations or integral tc¢iltiples thereof and will mature and
pay interest as set forth on the attached Schedule A.
The first interest payment will be due on May 1, 1986 with succeeding
interest payirents due and payable on the first days of Novanber and
May each year.
2. Ti-�e City agrees to use First wisconsin Tzust Can�any as registrar,
payir,g agent, and escraa bank for the bond issue.
cia<; v.��SCOrdS��ri rv:.*� �.:r:nt n�.�d. OF nniL�h�tii ��.��.:. -?7 EqSr r�6COr�5W nvENUE �nitwnU�'FE. vdi5CON5iN 5320:
FIRST WISCONSIN NATIONAL BANK OF MILWAUKEE
Honorable Mayor and City Cwncil
City of Oshkosh
Page 2
3, The proceeds of the bond issue plus discount will be used
appmximately as follows:
A. Purchase of goverm�ents and
[��ch for the escrow fund for the
reivncling.
B. Issuance F7cpenses
C. Urx%xwriter's Discount
Approx. $29,490,400
Approx. 152,800
Approx. 916,800
'ibtal $30,560,000
4. The annual esctaa fee, the bond registrar and paying agent fees inr
t�e refunding bonds will be paid as pa�.-t of the issuance expenses.
5, pYom the Undexwriters' discamt and issuance expenses, the
undeiwriters wi.11 pay all expenses of the transaction, included, but
not lunited to: bond oounsel, undenariter°s counsel, special tax
counsel, local counsel, bond printing, O.S. printing, CPA fees, bond
registrar and escirow trustee acceptance and annual fees, ca�uter
p,xpenses, and any City and/or Undexwriter out-of-pocket expenses.
6. The City agrees to have ready at the anticipated closing date
(March 28, 1985) appmximately $9,558,415 for the purchase of open
market U. S. Goverrment securities to be plac�d in the escrow for the
defeasance of the outstanding box�ds.
7. Zrie Undeiwriters will arrange far subscription and payment for the
U. S. Goverrnre�lt Securities (State an8 Iacal C�versnm.nt Series) and
beginning cash balance necessary to fund the Escrow Trust Account.
8. �rie net interest less accrued interest is $49,143,334.83 and the net
interest wst inclusive of discount (less expenses) is 9.45623.
9. This proposal is svbject to:
A. The unqualified legal opinion of Quarles & Brady, Bond Counsel,
as related to the legality of the bonds and their exa�g�tion £mn
Federal In�ie Taxes.
B. 0.ir receivirn� a caig�lete transcript of proceedings including a
mn-litigation certifiwte showix�g that x�o litigation of any
nature is pending against the City that would affect this
transaction and any other duly e3cecuted certificate requested by
Eond Counsel.
C. Passage of any permissive referendum period without valid
petition.
FIRST WISCONSIN NATIONAL BANK OF MILWAUKEE
Honorable Mayor and City Council
City of Oshkosh
Page 3
The abwe refunding plan is sulYnitted for yaur i�mediate acceptance.
Respectfully sutmitted,
r r � � r� � i
r rs_l,��a
��
RLC17dLd D. C£OT(jE� V10E PI2S1Ci2Ilt
& Manager
�•� :•• ��� S•�P;U
��
Gerald W. K�ntzle, Senior Vice
President
1l�e foregoing bo� purchase agreanent is hereby accepted for and on behalf of
the City of Qshkosh, Wisconsin. Tt� Ux�denariters are hereby authorized to
take apprapriate action to implanent and ca�q�lete the reiundinq transaction
including acting as agent in subscribing for the State and Iocal Goveixmient
Series of U. S. Treasuzy Securities, pursuant to prc�er authorization.
Dated this 4th Day of March, 1985.
(Seal)
Attest:
r �
sxxzsiT s
FISCAL AGENCY AGREEMENT
THIS AGREEMENT, made as of this lst day of March, 1985, between
the City of Oshkosh, Wisconsin ("Municipality"), and First Wisconsin
Trust Company, MilwaUkee, Wisconsin ("Bank" or "Fiscal Agent").
WITNESSETH:
wHEREAS, the Municipality has authorized the issuance of its
$30,560,000 General Obligation Refunding Bonds, Series 1985. dated
March 1, 1985 (the "Obligations") pursuant to Resolutions adopted by
the Municipality on Febzuary 21, 1985 and March 4, 1965; and
WHEREAS, the Municipality is issuing the Obligations in registered
form pursuant to Section 103 of the Internal Revenue Code of 1954, as
amended, and applicable Tzeasury Regulations promulgated thereunder;
and
WHEREAS, pursuant to the Resolution of March 4, 1985 and Sec.
67.10(2) Wis. Stats, the Municipality has authorized the appointment of
the Bank as fiscal agent of the Municipality for payment of principal
and interest on, registering, transferring and authenticating the
Obligations as well as other applicable responsibilities permitted by
Sec. 67.10(2) Wis. Stats.
NOW, THEREFORE, the Municipality and the Bank hereby agree as
follows:
1 i
I. APPOINIMENT
Bank is hereby appointed fiscal agent of the Municipality with
respect to the Obligations for the purpose of performing such of the
responsibilities stated in Sec. 67.10(2) Wis. Stats. as are delegated
herein or as may be otherwise specifically delegated in writing to the
Fiscal Agent by the Municipality.
ZI. INVESTMENT RESPONSI�IIS TY
The Fiscal Agent shall not be under any obligation to invest funds
held for the payment of interest or principal on the Obligations.
III. PAYMENTS
At least one business day before each interest payment date
(commencing with the interest payment date of May 1, 1986 and
continuing thereafter until the principal of and interest on the
Obligations should have been fully paid or prepaid in accordance with
their terms) the Municipality agrees to and shall pay to the Fiscal
Agent, in good funds available to the Fiscal Agent on the interest
payment date, a sum equal to the amount payable as principal of,
premium, if any, and interest on the Obligations on such interest
payment date. Said interest and/or principal payment dates and amounts
are outlined on Schedule A.
E
, .
IV. CANCII,LATION
In every case of the surrender of any Obligation for the purpose
of payment, the Fiscal Agent shall cancel and destroy the same and
deliver to the Municipality a certificate regarding such cancellation.
The Fiscal Agent shall be permitted to microfilm or otherwise photocopy
and record said Obligations.
V. REGISTRATION BOOR
Fiscal Agent shall maintain in the name of the Municipality a
Registration Book containing the names and addresses of all owners of
the Obligations and the following information as to each Obligation:
its number, date, purpose, amount, rate of interest and when payable.
The Fiscal Agent shall keep confidential said information in accordance
with applicable banking and governmental regulations.
VI. INTEREST PAYMENT
Payment of each installment of interest on each Obligation shall
be made to the registered owner of such Obligation whose name shall
appear on the Registration Book at the close of business on the 15th
day of the calendar month next preceding the interest payment date and
shall be paid by check or draft of the Fiscal Agent mailed to such
registered owner at his address as it appears in such Registration
Books or at such other address as may be furnished in writing by such
registered owner to the Fiscal Agent.
�3
, <
VII. PAYMENT OF PRINCIPAL
Principal shall be paid to the registered owner of an Obligation
upon surrender of the Obligation on or after its maturity or redemption
date.
in the event the Municipality exercises its option to redeem any
of the Obligations, the Municipality shall direct the Fiscal Agent to
give notice of such redemption by mailing a notice thereof by
registered or certified mail at least 30 days prior to the date fixed
for redemption to the registered owner of each Obligation to be
redeemed in whole or in part at the address shown in the Registration
Book. Such direction shall be given at least 45 days prior to such
redemption date. The Obligations to be redeemed shall be redeemed in
inverse order of maturity and, within any maturity, shall be selected
by lot by the Fiscal Agent in such manner as the Fiscal Agent may
determine.
VIII. OBLIGATION TRANSFER & EXCHANGE
The Municipality will supply the Fiscal Agent with _ printed
Obligations no less than five business days prior to the closing which
are to be canplete except for:
1. Name of registered owner
2. Face principal amount
3. Interest rate
4. Maturity date
5. Date of Authentication
6. Authenticating signature
4
, .
7. CUSIP Number
The Fiscal Agent will prepare Obligations in the aggregate principal
amount of $30,560,000 in the names of the persons designated by the
Municipality so as to be available for authentication by the Fiscal
Agent in connection with the closing for the Obligations. The Fiscal
Agent shall transfer Obligations upon presentation of a written
assignment duly executed by the registered owner or by such owner's
duly authorized representative. Upon such a transfer, new registered
Obligation(s) of the same maturity, in authorized denomination or
denominations in the same aggregate principal amount for each maturity
shall be issued to the transferee in exchange therefor, and the name of
such transferee shall be entered as the new registered owner in the
Registration Book. No Obligation may be registered to bearer. The
Fiscal Agent may exchange Obligations of the issue for a like aggregate
principal amount of Obligations of the same maturity in authorized
whole multiples of $5,000.
The Obligations shall be numbered R-1 and upward. Upon any
transfer or exchange, the Obligation or Obligations issued shall bear
the next highest consecutive unused number oz numbers.
IX.
The Fiscal Agent shall sign and date the Certificate of
Authentication on each Obligation on the date of delivery, transfer oz
exchange of such Obligation. The Fiscal Agent shall distribute the
Obligations in accordance with the direction of the registered owners
thereof.
5
X. STATEMENTS
The Fiscal Agent shall furnish the Municipality with an accounting
of interest and funds annually beginning December 15, 1986.
XI. FEES
The Municipality agrees to pay the Fiscal Agent fees for its
services hereunder in the amounts set forth on Schedule B hereto.
XII. MISCELLANEOUS
(a) In the event the check or draft mailed by the Fiscal Agent to
the registered owner is not presented for payment within four years of
its date, then the monies representing such nonpayment shall be
returned to the Municipality or to such board, officer or body as may
then be entitled by law to receive the same together with the name of
the registered owner of the Obligation and the last mailing address of
record and the Fiscal Agent shall no longer be responsible for the
same.
(b) Resignations; Successor Fiscal Agent. Fiscal Agent may at any
time resign by giving not less than 60 days written notice to
Municipality. Upon receiving such notice of resignation, Municipality
shall promptly appoint a successor fiscal agent by an instrument in
writing executed by order of its governing body. If no successor
fiscal agent shall have been so appointed and have accepted appointment
within 60 days after such notice of resignation, the resigning fiscal
agent may petition any court of competent jurisdiction for the
appointment of a successor fiscal agent. Such court may thereupon,
[j
a
after such notice, if any, as it may deem proper and prescribes,
appoint a successor fiscal agent.
Any successor fiscal agent shall be qualified pursuant to Sec.
67.10(2) Wis. Stats., as amended.
Any successor fiscal agent shall execute, acknowledge and deliver
to Issuer and to its predecessor fiscal agent an instrument accepting
such appointment hereunder, and thereupon the resignation of the
predecessor fiscal agent shall become effective and such successor
fiscal agent, without any further act, deed or conveyance, shall become
vested with all the rights, powers, trusts, duties and obligations of
its predecessor, with like effect as if originally named as fiscal
agent herein; but nevertheless, on written request of Municipality, or
on the request of the successor, the fiscal agent ceasing to act shall
execute and deliver an instrument transferring to such successor fiscal
agent, all the rights, powers, and trusts of the fiscal agent so
ceasing to act. Upon the request of any such successor trustee,
Municipality shall execute any and all instruments in writing for more
fully and certainly vesting in and confirming to such successor fiscal
agent all such rights, powers and duties. Any predecessor fiscal agent
shall pay over to its successoz fiscal agent any funds of the
Municipality.
(c) Termination. This Agreement shall terminate four years after
(i) the last principal payment on the Obligations is due (whether by
maturity or earlier redemption) or (ii) the Municipality's
responsibilities for payment of the Obligations are fully discharged,
whichever is later. The parties realize that any funds hereunder as
shall remain upon termination shall be turned over to the Municipality
7
. .
after deduction of any unpaid fees and disbursements of Fiscal Agent.
Termination of this Agreement shall not, of itself, have any effect on
Municipality's obligation to pay the outstanding Obligations in full in
accordance with the terms thereof.
(d) Execution in Counterparts. This Agreement may be
simultaneously executed in several counterparts, each of which shall be
an original and all of which shall constitute but one and the same
instrument.
IN WI7SIESS WHEREOF, the parties have executed this Agreement,
being duly authorized so to do, each in the manner most appropriate to
it, on the date first above written.
CITY OF OSHROSH
By
City Manager
City Clerk
FIRST WISCONSIN TRUST COMPANY
Fiscal Agent
By
Title
Attest
Title
7
SCHEDULE A
Debt Service Schedule
$30,560,000 City of Oshkosh, Wisconsin,
General Obligation Refunding Bonds, Series 1985,
dated March 1, 1965
Interest
Payment Date Principal Rate Interest Total
SCHEDULE B
10
EXHIBIT C
Escrow Trust Agreement
This Escrow Trust Agreement is made and entered into this 28th day
of March, 1985, by and between First Wisconsin Trust Company,
Milwaukee, Wisconsin ("Escrow Trustee") and the City of Oshkosh,
Winnebago County, Wisconsin ("issuer").
Rec itals
The IssUer currently has outstanding the issues of obligations
described in Schedule A hereto (referred to herein as the "Refunded
Obligations").
Issuer has authorized and sold and is delivering this day its
$30,560,000 General Obligation Refunding Bonds, Series 1985, dated
March 1, 1985, which are being issued for the purpose of providing
funds sufficient to zefund the Refunded Obligations (the "Refunding
Obligations").
Escrow Trustee has been appointed to hold and administer the
Refunding Escrow Account herein established with the proceeds of the
Refunding Obligations.
In consideration of the mutual covenants and agreements herein set
forth, the parties therefore agree:
1. Escrow Deposit. Concurrently with the execution of this
Agreement, Issuer has deposited $ of the proceeds of the
Refunding Obligations and $ of funds of the Issuer, which
sum is necessary to acc �nplish the purposes hereof, to be held and used
by Esczow Tzustee, together with any ;nvestment income acctuing
thereto, in trust only as herein set forth.
Issuer represents and warrants that this trust deposit, when held,
invested and paid in accordance herewith will be sufficient to make all
payments required hereby, and agrees that if at any time it shall
appear to Escrow Trustee that such trust deposit will not be so
sufficient, it will, upon notice by the Escrow Trustee, forthwith
deposit in the Refunding Escrow Account money on hand and legally
available fot that purpose to the extent zequired to meet fully the
payments required hereby.
2. Acceptance of Trust. Escrow Trustee acknowledges receipt of
the trust deposit hereunder and accepts the responsibilities imposed on
it, as Escrow Trustee, by this Agreement.
3. Application of Tzust Deposit. Escrow Tzustee shall deposit
the trust deposit hereunder into a Refunding Escrow Account to be used
and invested as follows:
(a) Use of Trust Deposit. The Escrow Trustee shall:
(i) on the date hereof, purchase the U.S. Treasury
State and Local Government Series Book-Entry Securities
("SLGS") described on Schedule B hereto, in the
principal amount of and for the price of $ and
pay for them from the moneys in the Refunding Escrow
Account, and hold the purchased SLGS in the Refunding
Escrow Account;
(ii) on the date hereof, make payment for the U,S.
government securities ("Securities") described on
Schedule C hereto at the price of $ with the
funds of the Issuer on deposit in the Refunding Escrow
Account, and hold the purchased Securities in the
Refunding Escrow Account;
(iii) apply $
administrative
Obligations in
Issuer;
to the payment of current
expenses with respect to the Refunding
accordance with the directions of the
(iv) return $ to the Issuer for deposit into
the Debt Service Account for the Refunding Obligations,
such amount representing accrued interest paid with
respect to the Refunding Obligations; and
(v) hold the $ balance of the trust deposit
in cash in the Refunding Escrow Account until
distributed as provided in subsection (c) hereof.
(b) Purchase of Other Securities. With the written consent
of the Issuer, the Escrow Trustee may initially purchase U.S.
government securities other than those set forth on Schedule C,
provided that the principal amount thereof is at least equal to the
principal amounts set forth on Schedule C and the maturity dates are on
or before the maturity dates set forth on Schedule C, so that the
Refunding Escrow Account is sufficient for its purposes. In the event
of such purchase, the Escrow Trustee may substitute the correct
securities set forth on Schedule C without further authorization
hereunder.
(c) Distribution of Refunding Escrow Account. The Refunding
Escrow Account (other than the cash held in the Refunding Escrow
Account pursuant to subsection (a)(v) above) shall remain invested in
the SLGS and the Securities. Except as provided in subsection (b) above
or in Section 5 below, the Escrow Trustee shall not sell or otherwise
dispose of the SLGS or the Securities and no further investment or
reinvestment of moneys in the Refunding Escrow Account shall be
permitted or made on behalf of the Issuer. Escrow Trustee shall apply
the moneys in the Refunding Escrow Account to the timely payment of the
principal of and interest on the Refunded Obligations at the times and
in the amounts set forth on attached Schedule D, by appropriate and
timely transfers to the respective paying agents for the Refunded
�
Obligations, as listed on Schedule D.
4. Call of Refunded Obli ations. The Issuer has called ceztain
of the Refunded Obligations, as described in Schedule E hereto, for
redemption on the respective redemption dates set forth in said
Schedule E. The Escrow Trustee shall cause timely notice of the call of
the Refunded Obligations to be given as necessary or desirable in
accordance with the tetms of the Refunded Obligations to be redeemed.
Such notice shall be in substantfally the form attached hereto as
Schedule F.
The Escrow Trustee shall also cause notice of the redemption of
the Refunded Obligations to be given to the paying agents for the
Refunded Obligations. Such notice shall be given by registered or
ce�tified mail at least forty-five (45) days prioc to the respective
redemption dates.
5. Substitute Investments. At the written request of the Issuer
and upon compliance with the conditions hereinafter stated, the Escrow
Trustee shall have the power to request the redemption of the SLGS or
sell, transfer, request the redemption or otherwise dispose of the
Secuzities and to substitute dizect obligations of, or obligations
which are unconditionally guaranteed by, the United States of America,
which aze not subject to tedemption prior to maturity except at the
option of the holder thereof and which are available for purchase with
the proceeds derived from the disposition of the SLGS and Securities on
the date of such transaction. The Escrow Trustee shall purchase such
substitute obligations with the proceeds derived from the sale,
transfer, disposition or redemption of the SLGS and Securities. The
transactions may be effected only by simultaneous sale and purchase
transactions, and only if (i) the amounts and dates on which the
anticipated transfers from the Refunding Escrow Account to the paying
agents for the payment of the principal of and interest on the Refunded
Obligations will not be diminished or postponed thereby, (ii) the
Escrow Trustee shall receive, at the expense of the Issuer, an opinion
of a nationally recognized firm of attorneys experienced in the area of
municipal finance to the effect that such disposition and substitution
would not cause any of the Refunding Obligations to be an "arbittage
bond" within the meaning of Section 103(c) of the Code of 1954, as
amended and the regulations thereunder; and (iii) the Escrow Trustee
shall receive from an independent certified public accountant a
certification that, after such transaction, the principal of and
interest on the State and Local Government Series obligations and the
U.S. g�ernment obligations in the Refunding Escrow Account will,
together with othei moneys in the Refunding Escrow Account available
for such purpose, be sufficient at all times to pay, when due, the
principal of and interest on the Refunded Obligations.
The Issuez hereby c w enants that no part of the moneys or funds at
any time in the Refunding Escrow Account shall be used directly or
indirectly to acquire any securities or obligations, the acquisition of
which would cause any Refunding Obligations to be "arbitrage bonds"
within the meaning of Section 103(c) of the Internal Revenue Code of
1954, as amended.
3
5. The Escrow Trustee,
(a) Escrow Trustee's Fee. The Escrow Trustee shall be paid
a fee of $ for the performance of its services hereunder. The
cost of publishing the notices of redemption required by Section 4
hereof shall be the responsibility of the Issuer.
(b) Annual Report. Escrow Trustee shall, in the month of
February of each year while this Agreement is in effect, forward by
first class registered mail to the Issuer a report of the receipts,
income, investments, redemptions and payments of and from the Refunding
Escrow Account during the preceding calendar year, including in such
report a statement, as of the end of the preceding calendar year,
regarding the manner in which it has carried out the requirements of
this Agreement. Issuer shall have the right, at any time during
business hours, to examine all of the Escrow Trustee's records
regarding the status and details of the Refunding Escrow Account.
(c) Separate Funds; Accountability. Except as otherwise
permitted under Section 3(b) and (c) hereof, Escrow Trustee shall keep
all monies and securities deposited hereunder, all investments and all
interest thereon and profits therefrom, at all times in the special
fund and separate trust account, wholly segregated from all other funds
and securities on deposit with it; shall never commingle such deposits,
investments and proceeds with other funds or securities of Escrow
Trustee; and shall never at any time use, loan or borrow the same in
any way. The several funds established hereunder shall be held
separately and distinctly and not commingled with any other such fund.
Nothing herein contained shall be construed as requiring Escrow Trustee
to keep the identical monies, or any part thereof, received from or for
Issuer's account, on hand, but monies of any equal amount shall always
be maintained on hand as funds held by Escrow Trustee as trustee
' belonging to Issuer and a special account thereof, evidencing such
fact, shall at all times be maintained on the books of Escrow Trustee.
In the event Escrow Trustee is unable or fails to account for any
property held hereunder, such property shall be and remain the property
of Issuer and if, for any reason, such property cannot be identified,
all other assets of Escrow Trustee shall be impressed with a trust for
the amount thereof and Issuer shall be entitled to the preferred claim
upon such assets enjoyed by any trust beneficiary. Property held by
Escrow Trustee hereunder shall not be deemed to be a banking deposit of
the Issuer, and Escrow Trustee shall have no right or title with
respect thereto (including any right of set-off) and the Issuer shall
have no right of withdrawal thereof.
(d) Liability. Escrow Trustee shall be under no obligation
to inquire into or be in any way responsible for the performance or
nonperformance by Issuer or any paying agent of any of its obligations,
or to protect any of Issuer's rights under any bond proceeding or any
of issuer's other contracts with or franchises or privileges from any
state, county, municipality or other governmental agency or with any
person. Escrow Trustee shall not be liable for any act done or step
J
taken or omitted by it, as Escrow Trustee, or for any mistake of fact
or law, or for anything which it may do or refrain from doing in good
faith and in the exercise of zeasonable care and believed by it to be
within the discretion or power conferred upon it by this Agreement,
except for its negligence or its default in the performance of any
obligation imposed upon it hereunder. Escrow Trustee shall not be
responsible in any manner whatsoever for the recitals or statements
contained herein, including without limitation those as to the
sufficiency of the trust deposit to accomplish the purposes hereof or
in the Refunded Obligations or the Refunding Obligations or in any
proceedings taken in connection therewith, but they are made solely by
the Issuer.
(e) Resignations; Successor Escrow Trustee. Escrow Trustee
may at any time resign by giving not less than 60 days written notice
to Issuer. Upon giving such notice of resignation, the resigning
Escrow Trustee may petition any court of competent jurisdiction for the
appointment of a successor escrow trustee. Such court may thereupon,
after such notice, if any, as it may deem proper and prescribes,
appoint a successoz escrow trustee of c�nparable qualifications to
those of the resigning Escrow Trustee. The resignation of the Escrow
Trustee shall take effect only upon the appointment of a successor
escrow trustee and such successor escrow trustee's acceptance of such
appointment.
Any successor escrow trustee shall be a state or national bank,
have full banking and trust powers, and have a combined capital and
surplus of at least $5,000,000.
Any successoz escrow trustee shall execute, acknowledge and
deliver to Issuer and to its predecessor escrow trustee an instrument
accepting such appointment hereunder, and thereupon the resignation of
the predecessor escrow trustee shall become effective and such
successor escrow trustee, without any furthez act, deed or conveyance,
sha11 become vested with all the rights, powers, duties and obligations
of its predecessor hereunder, with like effect as if originally named
as escrow trustee herein; but neveztheless, on written request of
Issuer or on the request of the successor escrow trustee, the escrow
trustee ceasing to act shall execute and deliver an instrument
transferring to such successor escrow trustee, upon the terms herein
expressed, all the rights, power, and duties of the escrow trustee so
ceasing to act. Upon the request of any such successor escrow trustee,
Issuer shall execute any and all instzuments in writing for more fully
and certainly vesting in and confirming to such successor escrow
trustee all such rights, powers and duties. Any predecessor escrow
trustee shall pay over to its successor escrow trustee a proportional
part of the escrow trustee's fee hereunder.
6. Miscellaneous.
(a) Third-Party Beneficiary. This Agreement has been
entered into by Issuer and Escrow Trustee for the benefit of the
holders of the Refunded Obligations, and is not revocable by Issuer or
Escrow Trustee. The Refunding Escrow Account has been irrevocably
5
pledged to the payment of principal of and interest on the Refunded
Obligations in accordance with this Agreement. Notwithstanding the
foregoing, this Agreement shall not be construed as creating any rights
in or obligations to any person other than the parties hereto.
(b) Severabilitv. If any section, paragraph, clause or
provision of this Agreement shall be invalid or ineffective for any
reason, the remainder of this Agreement shall remain in full force and
effect, it being expressly hereby agreed that the remainder of this
Agreement would have been entered into by the parties hereto
notwithstanding any such invalidity.
(c) Termination. This Agreement shall terminate on
, The parties realize that any funds hereunder as
shall remain upon termination shall be returned to the Issuer, after
payment of any unpaid fees or expenses of the Escrow Trustee.
Termination of this Agreement shall not, of itself, have any effect on
Issuer's obligation to pay the Refunded Obligations or the Refunding
Obligations in full in accordance with the terms thereof.
IN WITNESS WHEREOF, the parties have executed this Agreement,
being duly authorized so to do, each in the manner most appropriate to
it, on the date first above written.
(SEAL)
(SEAL )
CITY OF OSHKOSH, WISCONSIN
By
City Manager
Attest
City Clerk
FIRST WISCONSIN TRUST COMPANY,
Escrow Trustee
By
Title
At te s t
Title
�
SCHEDULE A
1. Corporate Purpose Notes, 1975
2. Refunding Bonds, dated 4/1/77
3. Corporate Purpose Bonds, dated 4/1/77
4. Promissory Notes, 1977 (Public Works Equipment)
5. Promissory Notes, 1977 (Industrial Park Acquisition)
6. Corporate Purpose Sonds, dated 5/1/76
7. Promissory Notes, dated 5/1/78
8. Corporate Purpose Bonds, dated 5/1/79
9. Corporate Purpose Bonds, dated 5/1/80
10. Promissory Notes, dated 5/1/80
11. Corporate Purpose Bonds, dated 5/1/81
12. Promissory Notes, dated 5/1/B1
13. Corporate Purpose Bonds, dated 5/1/82
14. Corporate Purpose Bonds, dated 5/1/83
15. Refunding Promissory Notes, dated 5/1/83
16. Promissory Notes, dated 5/1/83
17. Notes, dated 11/7/83
16. Corporate Purpose Bonds, dated 5/1/84
19. Notes, dated 5/1/84
20. Refunding Bonds, dated 5/1/84
21. Promissory Notes, dated 6/1/84
22. Sewer Bonds, dated 11/1/84
F
SL65
DENOMIMAiION: l00.00
PRICE: 100.000
MAtORlil fIR51
N0. PAA OdTE COUPON PAYIffNi
"'" """"""""' """" ""_"" ""____
J0,500 06�OII85
51,3110 07/Ol/85
ie9,�oo io�mles
iiloi/as
iZ�ai/es
2.167.900 0/�01/86
1.0/1,200 OS/O1/86
25,IU0 �6/O1/%
i�s,soo to�ai/ea
6t,900 i1�0U86
12/O1/86
z,a�.�oo o�/oi/e�
1.135,000 US/01�87
2J,800 06/Ol/8]
122,000 ]0/Ol/W
93,800 11/0t/W
12/01/87
i,N5,000 01/Ol/88
1,965,700 OS/01/88
06�OII8b
80.60D 10/01)88
1V,800 I1�01/88
11/Ol/88
/9,BU0 01l01/07
2,201,T00 OS(Ol/B9
06�01/89
lOf01(89
u/ouev
12J01(89
01/Ol/90
1,588,�00 OS/01�90
06�Oi/90
io�mrs�
u/oi/�
l2/01/9�
o�/oirvi
1.661.500 05101/91
06(01/9I
IOI01/91
/,/OD I1101191
12101�91
01/Ot191
2.121,300 OSI01/92
os/oi/n
io�ai/ss
11.100 tl(Ol/9Y
I2�01/92
01/0l)9J
1,06/,7(10 05101/93
06/Ol/97
10/01�93
33.)00 I1/01/97
12/01193
01�01/9/
].170,20D US/01�91
91,BOU 06/01/9/
3,1I5,B00 11/01/9/
791,800 OS/01/95
L100 11/01/95
251,/00 OS/OU96
1,500 11/01/96
253,700 OSJ01197
7.700 ll/01/97
5/7,700 05�01/98
11/O1/9B
OSJOI/99
1/,931,100
"""""""
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06�Oi/85
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ioloues
u/m/as
�z/mles
10/O1/85
11/O1f85
06/Ot/85
10/O1f05
❑/01/85
06/O1/BS
1./66 10/Dl(BS
9.500 11�01/85
9.500 06/O1/85
9.900 lU/01J85
9.900 11J01/85
9.900 06/01/85
IO.I50 10/01/85
,o.zoa ,iro,res
10.250 06/O1/85
10.250 10(O1/BS
10.P50 lll01�85
]0.250 06J01/85
10.500 ID/O1J85
10.500 11/01/85
t0.5U0 06/01/BS
10.600 !0/Ol/85
10.600 11)O!/85
10.600 06(O1/85
io.no �o/ai�as
10.750 I1J0!/85
10.750 06/01/85
90.750 10101/85
lOJ50 11101/85
1OJ50 06/01(85
ia.vw io/oi�es
10.900 I1/Ol/85
10.900 06/01/85
10.9U0 10/U1/85
10.900 II/�1/85
1�.900 06/01/85
11.000 10/D!/85
ii.om i,/o�res
ii.000 os/oi/es
ti.oao taloties
II.OW 11�O1/95
I1.00D U6101/85
11.100 10/01/85
11.100 11I01)85
1I.100 06/01�85
u.iao io/ot/es
11.100 1l/Ullb3
]I.100 06/01/85
11.150 IU�01�85
n.iso n/oi�es
11.150 06JD1I85
11.150 11/Ol/85
11.150 1110t/85
11.150 I1�01/BS
I1.150 il/Ol/85
11.ISD I1(O!/85
11.150 I1/O1/85
11.150 11/OUBS
! L I50 11/01/BS
IL150 11�01/&S
ll.150 II/01/85
SCHEDULE B
DESCRIPTION
OBLIGATIOt3S -
GOVERNMENT
OF U.S. TREASURY
STA`PE AND LOCAL
SERIES ("SLGS")
Maturity Principal Interest
Type Date Amount Rate
PUACHASES
1NTERESi FIASi IHi ESC
XANA111 SGR� MYMEN( P41 AEV
NO PAA OENOX DAiE COUPON PRICE YIEI� DAiE UAiE FAE CO�E
"" "'"_"___ """' ""'""' _"'_' ""'"" '""_ "'""" '""'__"' "' '""
1,010,000
Y4S,0�
1,/67,000
i09.000
i.on,000
179,000
1.007,000
118,000
663.000
96.000
619,U�0
690,000
610.000
78,000
178,U�
31,000
IJ/,000
t8.OD0
759.000
/,000
IO/,OW
10,1/7.000
1.000 02J15�87
1,000 OS/IS/81
1,000 OB(15/81
I,OOU 11JI5/B7
1,D00 02(151�
1.000 05j15/88
1,000 OB/I5�88
i,ono wts/ee
1.000 02/15�89
1,000 OS/15/89
1,000 OB/15/89
LW� ll/15J89
1,000 O1/15/90
1,000 US/15J90
1,000 OB/15/90
1,D00 II/IS/9a
1,000 D2/15/91
I.000 OS/IS/91
I.000 08/15/91
1,000 ll/IS/91
I,000 02/ISJ9P
i,oao os/tslsz
,,000 osrislsz
1.000 I1/15l92
1,000 02/15/93
1,000 OS/15/97
l.000 OB/15J9S
1,000 1U15/93
I.WO 02J15/9/
1,000 OS/15J91
1,000 08115(94
i.aoo tilts/sa
1,000 02/15/95
1,000 OS/IS/95
1,000 08/15/95
1.000 11)!S/95
1,000 02/15/96
1.000 0.5/IS/96
1,000 08/35/96
1.000 11I15/96
],000 01/15/97
1,000 OS/15/97
1,000 08/IS/97
1.000 11/15/9]
I.D00 U2/15/98
1.000 OS/15�98
i,000 oa/,srse
1.000 11I15198
1,000 D2/IS/99
I.OAO �S/15/99
l,000 08I15/99
1,�00 ll/15/99
i3ODU 01/15/00
i,000 oslisr�
i,000 oe/ts/�o
1,000 lUISi�
1,000 oP�15/Ol
1.000 05�15/01
1.000 OB/IS/O1
1.000 !1/IS/O1
t,00u mJts/o2
1,000 OS/15/01
I,000 OB/IS/01
i,000 ii/�s/o2
I,OOU 02/!5/U3
i,oao osnslaa
1.00U 08/15l�3
1,000 11/IS/93
1,000 Ot�IS�Od
l,000 US/I5�0/
1,000 OB/15�0/
1.000 Il/1Si0/
82.937 l0.200 02/IS/85 OB/IS/85
8�.9W IO.Y00 li/15I8/ OS/15/85
7B.556 10.100 OY(15/BS OB/!5/BS
76.590 l0./U0 !l/IS/Be OSjIS/85
72.959 1t.250 02/IS/85 OB/15J85
70.9d9 I1.250 llp5/8/ 05�15185
69.073 11.Y50 0:/15/BS 08/15/85
67.P09 (1.250 11/15l81 OSJIS/85
6/.257 31.730 02/15/85 OB/IS/85
62.//8 11.]SO Il/!5(81 OS/15/85
60.318 11.880 02/15/BS OB/IS/85
58.603 11.880 ll/I51�1/ OS/!5)85
56.936 11.880 02l�5/85 OB/IS/85
55.3ll 1LB80 11115/8/ 05�15/85
53.47] 11.9B0 02/15/85 08/IS/85
51.938 ll.980 IIJ13/81 OS/!S/&S
so.i�o iz.oeo o2/is/es oe/is/es
�s.ni tt.oeo ttps/a� os/is/es
17.717 12.OB0 02/15/HS OB/15/85
/5.9/6 11.080 I1/15J81 U5�15/85
//.618 12.080 B2J15�85 08/15/85
13.3P8 12.080 11/15(81 OS/15/35
11.076 12.080 02/15/85 OBJ15/85
10.861 12.U80 ll/15/8/ OSJI5�85
79.680 12.080 02/IS/BS 08/15/BS
38.53J 12.080 1l/l5/81 OS/15/85
37.120 12.0� 02/15(85 OB/15/85
36.J38 12.080 li/1SJ8/ OS/15/85
55.288 12.080 0?�15/85 OB/15J85
31.268 1t.060 Il/IS�Ba OS/IS/BS
IS.278 1Y.080 01/15/85 08/15/BS
a2.3u t2.osa iips�aa os/,sras
51.383 I4.080 U2/15/B5 08/15/85
70.176 1:.080 11/I5�81 OS/IS/85
t9.886 1d.980 OY/15f85 OB/15/85
29.030 11.980 I1�15(B/ OS/15�85
27.767 12.130 U2/IS/BS OB/15JB5
26.961 12.1J0 I!/IS/80 OS/15/BS
16.179 12.150 OPAS/85 Obr.5/85
PS.119 12.IJ0 ll/15(84 OS/15/85
24.5/1 12.180 02/!5/85 OB/ISJ85
2J.8T9 12.180 ll/IS/61 OS/15J85
27.135 12.180 OPJIS/85 OB/15/85
12.161 1t.I80 11/15/21 OSl�S/85
21.807 12.100 01/15/95 08/15/BS
21. ll1 12.180 l l p 5l8/ OS/ I S/ 85
2U.555 12.180 02/15�85 08/15/BS
19.957 12.180 11lIS/8d 05/15/BS
19.J75 1P.180 02(15/85 OB/15/85
79.526 I1.900 11/IS/81 OS/15/85
IB.970 11.900 02I15/85 08/IS/85
IB.170 q.900 11J15/81 OS/15/85
17.9�5 11.900 02/15/85 08J15/BS
V.395 11.900 I1p5/Bd OS11S(BS
16.899 11.900 02/IS/85 U8�15/85
16./I8 1L900 Il/15/e/ 0.5/IS/8S
15.950 11.900 02/l5�85 OB(15j85
15./96 1(.900 I1/IS�eI OS/15/BS
I5.05/ 11.900 OP/IS/85 08/IS/85
11.626 I1.900 ll/15J8/ OS(15/85
11.209 11.900 02/IS/BS UB/IS/85
IJ.AOd 11.900 11/15J81 US/IS/85
13./11 11.900 02/15/85 OB/15/85
1J.�29 11.900 II/IS(8l OS/f5/BS
I2.658 ll.900 01(15/85 08(IS/BS
12.297 11.900 11/15/84 OS/IS/85
ll.90 11900 02115/85 08/15185
1L607 11.900 LL/15/8/ OS115J85
IL176 11.900 02/15/85 OBpS/BS
I0.955 11.900 11/IS/8/ O5J15/85
10.613 11.900 0Y(IS(85 0A/IS/BS
10.310 11.900 !1/!5/8/ OS/!5/85
6 P
6 P
6 P
6 P
6 P
6 P
6 P
6 P
6 P
6 P
6 F
6 F
6 F
6 F
6 P
6 P
6 P
6 F
6 P
u P
6 P
6 F
b P
6 P
6 F
6 P
6 P
6 P
6 P
6 P
6 P
6 P
6 P
6 i
6 P
6 P
6 P
6 P
6 P
6 P
6 P
6 P
6 P
6 P
6 Y
6 V
6 P
6 P
6 P
6 P
6 P
6 P
6 P
6 P
6 P
6 P
6 P
6 P
6 P
6 P
6 P
6 P
6 P
6 P
6 P
6 P
6 P
6 F
6 F
6 V
6 P
6 P
Type
SCHEDULE C
DESCRIPTION OF SECURITIES
Maturity Principal Purchase interest
Date Amount Price Rate
0
IEIfY[II YR: OY14R
YR �II��IY
M/01/C 1.II5.1O.tl
OS/0�/tl )N.OW.A
G/OIIN lS.00O.m
O//11�4t Y.WO.m
Iolm/C m,OmJ
uloUn sa.m.�
ivmiu
alall� tlx.am.w
osmur +w.o.r
�IOII� n.M.a
10/GI/Y 10.mCJ1
1iNUr w.a.m
uloUr
w/o�P� �an,o.�
m/m/v �.us.mo.r
rioUn n.aaa.00
ta/mm wAOO.a
urou� n.mr
arv,n�
w/ol/r I,�,EW.a
aim�� �.ws.an.r
4101/O'
tO1011tl
weuM m.eo.�
i:�a�m
G/01/M. )A.m.m
m�mm :.�so.aoa.a
oflolln
�o/oim
uroun so.e.m
io/w!n
M/OI/M �.en.r.ro
OS/O11f0 l.Vl.IOD.M
Ot/OIIfE
l0/04�
il/01/t0 10.m1.0G
v�mR�
NI01/fl fil.00G.Y
E/olpl IdA,o.m
MI01/11
wmm
ll/O1191 Y.E00.�
11/Olpl
M/01/Y[ 1lO.m.E
os/oun Idso�m.r
a�oun
�oiu/n
Illel/R fO.Im.R
u/olln
wmn� tw.aa
Gplpl S.PO.p1.P
aimm
�amm
11(01l9 ]C.l1.!
R/Cl/q
W/01/H NO.00G.W
vs�ouw f,00�,om.�o
alouH +..00.m
11/Clfll SO.Im.■
nlmin i.tm.�.r
u/o1l�s tro.mE.m
Of/01lM 11U.000.0A
ulm/x too.eW.W
m/mP1 3fa.W.w
nla�m .1k.mo.m
m/our �x.am.w
meuw m,�.�o
m�oV++ m,�au.m
lllo�lw �11.00I.r
aro�lm m.aa.w
i�roum �n.roc.00
osrvum s.au.�
wa�u uo.�.�
m/ourt n.am.w
wwm w.AO.■
O/o1IG )s.Om.lo
uroUw a5o.ao.n
n/oIM
11/OIIM tl0.m4.!
IOILL Y.@I.Y.tl
�uut�
EI p51
aeoa, u�nn
uts�um�i c.o o[�� wo�[e
til[I I[It IIpIQ fOFqF
uRRit mu r�ssu tnu
T6t.W.A
ISILAI.ri
).111.50
Id)5.!
z�a.as.n
m.:n.x
�.m.b
:ie,sx.ts
ff{.XY.50
6.L5.E0
�u.w.a
�x.n�.v
I.IN.W
�u.w.n
�ss.�a.w
s.m.r
m,m.n
+u.mo.m
�.l.tl
116.IBL)5
n�.in.x
bwo.m
1B.Nl.ri
W �I25.M
�.m.m
�.LI.t3
OI.SEO.m
�.w.m
6,WJ5
n�,us.m
�.am
ts.w.n
)Y,IW.W
I.OF.00
a.ur.w
f11.Mt.b
�.�.m
W.I1J.Y
f/].41.l0
1.0tl.i
N,A.m
m.m.n
I.OIOAO
N,101.11
3%,g.t5
�.�.m
u.m.v
m,m.a
�.r.r
u.m.a
ul.l�.�
�.�.m
5.]W.i
w✓a.y
1.110.0
s,�m.a
m.m.Y
�,W.10
S11.tl1.30
1II.UI.fO
m,aa.w
tN,150.0
sw,ns.m
m,m.m
m.fAO.m
tos,ltS.m
�w.mo.m
v�.+m.a
�s.me.m
1H,W.W
ui,us.ao
liili.f�
n,n:.m
u.ra.w
n.az�
u.m.r
N.�.b
m.ie.In
11.A.11
D.)V.MS.R
19./U,M5.10
1.LI.b1.13
Id)I.YI.tS
4,111.50
S1.))S.W
ffi.04.}f
�.wam.r;..
1.p10.W
1.DS.H{.A
I.Mt.L3.5U
]I.fCf.OY
tA.eu.]S
i.m�.mr.v
I.N.W
id:).1LJs
2��.III.v
a.m.v
u�.m.0
W.OIa.W
1.4l.01
1.)16.Ii1.15
:.ux.m.a
4M�.Oo
tl.511.b
+w,ia.m
�.m.m
1.%].A1.73
i.f4.500./
�.no.a
u.w.n
so.�n.m
�.m.m
i,iw.�u.n
t.63),IOI.W
I.m.00
w.m.se
m,w.x
�.%O.W
fW,IJ).10
x.w.mso
1.�.m
i1.100.04
wt.rn.a
I.�.A
S)I.11o.01
3.316.1Y.]5
I.m.�
u.w.w
sn.m�.w
�.ao.m
ai.u�.w
:.a�.i�.w
I�Om1.W
s.�s.m
IR.Ifi.Y
1��.m
as.AO.m
i.IH.L).!0
Im.M0.00
]M.113.50
I.SAdA.50
�r�,mo.a
f11.S0.W
w,us.m
sp,ns.ro
sn.�m.m
w.sn.oe
v+.ow.m
ui,+a.o
se.a.ro
111.OY.10
L1,6Jim
�r.x�.se
N),)lt.50
10.]Q.A
ssi.�.�
ia,uv.m
�w.r�.w
A.00.M
IID.O.m
ss.n.us.m
SS.nl.p3.m
II[ t.01W IiMI1Fl11FttMRl
Itl0 R16 319.3JO.N10 Ifm1 Y111F11 YIU
�NIIG lIR {.Y41f
u� �.�wu iren n��n urz�
.,rn.e+i.as
s.sw.lel.w
s.w.m.m
s,�u,:u.m
I.flf.l5.i
I.Sn.flB.R
I.�p.S16.25
1.)11,3f1.S
7.1ri,1a.W
],ISI.910.W
:.ar.m.x
i.xt.ns.00
i.�a�m.m
i,n..sn.w
i.m.�s.m
m�m.r
m.m.ro
ue,m.o
u�,ns.�
MI,Iro.EO
t �
SCHEDULE D
SCHEDULE OF DEBT SERVICE PAYMENTS
ON REFUNDED OBLIGATIONS
Payment
Date Principal Interest Total
Paying Agento
10
. .� t
Description of Issue
SCHEDULE E
REFUNDED OBLIGATIONS
TO BE REDEEMED
11
Redemption Date
. .. �
SCHEDIILE F
NOTICE OF CALL TO HOLDERS OF
DATED . 19
of
CITY OF OSHROSH,
WINNEBAGO COUNTY, WISCONSIN
PLEASE TAKE NOTICE that numbered through _, inclusive,
of the above-described issue of , which mature on 1,
19 , have been called for prior payment on 1, 19 Upon
presentation and surrender of said , with all unmatured coupons
attached, to . .
, the paying agent for said , the holders thereof will
be paid the principal amount of the and accrued interest to the
date of redemption.
The will cease to bear interest on 1, 19
DATED � 19_
BY ORDER OF THE CITY COtJNCIL
12
.. . , ,,
OSNIOSM, YISCONSIM
WISiYGiM6 6.0. UEIi C0181NE� - 1 I55�&5 CLLIfD
COABIIffO OEIf SEfVICE YJFN0.F
DELIYEAi DI1F. Ol/tB/83
0�1F �AINCIILL INiEAE57 lOiAl FISf�L i07AL
w�aves a,�zs.aao.00
os�oues �eo,000.m
06J01�85 45.00O.W
0]/01/85 SO.W0.00
io/oiles �o.aoa.m
fi�01/85 50,000.00
!2/O1/85
wlmlec s,�zs.oao.ao
OS/0110: 950.000.00
Ubl01�86 15.OW.00
io�oUU ia,000.m
II/01186 50.000.00
1210I�B6
W�O1187 1,915,000.00
OS/UllW I.1TS.00O.m
�/oi/e� ts.000.ao
10(01/81 80,p00.00
11/01/BI 75.W0.00
!1/Ol/81
alo�lee i.too,eoo.00
QS)OI�BB 1.915,0OO.OG
Cbl01l�
10/01/06
11l01/88 70.000.G0
13/01/88
W101/89 975,OOO.W
OS/O1/B9 2,ISO,OW.00
D6/OI/89
10/01/B9
11�01/89 50.000.4U
12107/89
oumiw i,on.aoo.00
OS�01/90 I.B75,000.00
06/01�90
10�01/7U
11IOIN0 SO�OOO.W
12I01/M
O/�OII9i 650.000.00
OS/01/91 1,975.000.00
06/01�91
i�/01�91
ll/UI/91 5U,000.00
11/UI191
01/01�92 550.000.00
OS/O1/97 7,150,oW.00
O6/01/9Y
10�01/9i
IIIOIl71 30.OG7.70
��rmra
BI/OI193 250.BOO.BO
OS/01191 �.�0.000_00
�101�93
IO/01/9]
1l/OI193 SO.OW.�
It/01/91
0//01/91 t10.0W.00
U5�01/9/ 1,500,0�0.00
06/01/91 96,00�.00
11/01/N 5.750,0O�.OU
OS/D1�95 ri0,000.W
IIIOlI95
OS/01�% 750.000.00
II/01/%
05�01/91 750.000.00
ll�01/97
OS/01/98 1,050.000.00
11/01�98
OS/01/99 100,000.00
------- -----------
w�u x.m�,000.w
ACCAIIED
IFi W57
zsz,as�.n
�au.�st.n
�,nzm
I,775.OG
112.066.25
998.737.50
I.OB0.00
2I0.59�.25
99e,M1.50
6,505.�
165,8/6.t5
956,997.50
/.080.00
162.758]5
955.171.50
s.me.w
117.921.15
910,�10.00
I.OB0.0G
316,1B1.S
907,197.50
�,oeo.ao
88.SB1.25
871.125.W
I�OBO.W
fi,581.I5
831.500.00
/.080.00
65,h68.75
]50,/75.00
/.080.00
65.668J5
7�8.100.00
/�080.�
10.137.50
673.B6P.30
/.080.00
IU.�31.50
677.187.50
1.080.00
r�,roa.00
598,731.t3
/.OB0.00
11.7�O.W
596.756.25
�.080. W
ll.bJ1.50
NO, T15.00
�.oau.�
I1.6D.50
IJ8.350.W
I.OW.00
5,100.W
IAI�Y00.00
�.wo.oe
5.1110.00
7B/�B25.W
I.W0.10
J2U.75U.00
lN,125.00
n.wa.m
B7.6W.OJ
71,05.00
71,675.00
SS./S�.BO
55,150.00
/.J50.00
1,750.00
u.9es.ess.00
16.989,B9f.00
2.587,053.75
i,vn,xi.ss
�.n�.w
51,375.�
182.066.25
1.018,P37.50
I.OBO.W
t,3A,596.Y5
1,986,362.50
SI,SOS.00
233.Nf.25
1�006,997.50
I.OBA.QO
7,Ill.3X.)5
2,Oe0,111.50
m.m.w
197.921.15
985.OIO.W
/.OW.W
6716dB4A5
1,651,197.50
I.OBO.W
M,SBl.tS
901.1P5.00
/.OB0.00
1.067.581.25
1,981.500.00
1.080.W
65.f68.75
YOO,U5.00
/.OW.00
t.ia,us.�s
7.62),100.00
1�0A0.G0
IO,lA.50
7t5,161.50
I.APo.00
690,IS7.50
2.618.IW.50
/.000.00
zo.mo.00
618JA.25
/.OB0.00
ll1,700.00
1,0/6,J56.i5
/.OBO.W
11.677.SU
�vo,ns.w
�,aeo.00
t61,677.50
I.BIe.350.U0
I.OPo.00
5�1W.00
IA�100.W
�,ao.m
215,7�.00
l,BB1.B75.W
100,8A0.00
�.oro,�so.00
1,087.9t5.00
87.600.00
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71,05.00
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5,976.891.15
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5.17/,785.00
5.169,715.00
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1.02�.Y1625
5.131,S7B.75
t,ssi.wzso
6.781,355.W
1.169,515.00
50f.275. W
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1.109.BW.00
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EXHIBIT D
OUTSTANDING OBLIGATIONS
TO BE REDEEMED
Description of Issue
Redemption Date