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HomeMy WebLinkAbout33088 / 84-01sdh102984 CITY COUNCIL OF THE CITY OF OSHKOSH RESOLUTION NO. 1 BOND RESOLUTION AUTHORIZING $1,700,000 CITY OF OSHKOSH, WISCONSIN INDUSTRIAL DEVELOPMENT REVENUE BONDS, SERIES C (LISKAR INVESTMENTS PROJECT) WHEREAS, the City of Oshkosh, Wisconsin (the "Munici- pality"), is a municipal corporation organized and existing under and pursuant to the laws of the State of Wisconsin and is autho- rized by Section 66.52i, Wisconsin Statutes, as amended (the "ACt"): (a) to issue industrial development revenue bonds to finance all or any part of the costs of the construction, equipping, reequipping, acquisition, purchase, installation, recon- struction, rebuilding, rehabilitation, improving, supplementing, maintaining, repairing,-enlarging, extending or remodeling of a project which qualifies under the Act and the improvement of the site therefor; and (b) to enter into a revenue agreement with an eligible participant pursuant to which the eligible participant agrees to cause said project to be constructed and to pay the Municipality an amount of funds sufficient to provide for the prompt payment when due of the principal of and interest on said industrial development revenue bonds; and WHEREAS, Liskar investments, a limited partnership formed under the laws of the State of Wisconsin (the "Borrower"), has heretofore requested the Municipality to issue industrial development revenue bonds to finance a project on behalf of the Borrower as an eligible participant under the Act; and WHEREAS, on August 2, 1984, this body found and deter- mined that said project consisting of the construction of an addition to an existing building for the purpose of the manufac- ture of £lexible packaging products (the "Project") is a qualified "project" within the meaning of the Act and that the Borrower is an "eligible participant" within the meaning of the Act; and WHEREAS, on August 2, 1984, this body adopted an initial resolution pursuant to the Act wherein it was resolv?d that the Municipality would issue industrial development revenue bonds to finance the Project, subject however, to the satis- faction of certain conditions including the approval by this body of the terms of the bonds and the revenue agreement described in said initial resolution; and WHEREAS, on August 2, 1984, this body adopted a resolution relating to waiver of Section (11)(b)1. of the Act and in that resolution provided that the revenue agreement shall contain anti-discrimination clauses which shall be approved by the Municipality; and WHEREAS, on August 3, 1984, notice of the adoption of the initial resolution was published in accordance with Section {10)(b) of the Act, and notice of adoption of the waiver resolution was published in accordance with Section (11)(b)2. of the Act, and no sufficient petition has been filed with the Clerk requesting a referendum on the question of the issuance of said industrial development revenue bonds; and WHEREAS, on November 15, 1984, a public hearing was held at the City Hall and conducted in a manner that provided a reasonable opportunity to be heard for persons with differing views on both issuance of revenue bonds and the location and nature of the proposed facility to be financed with revenue bonds; and WHEREAS, notice of the public hearing, substantially in the form attached hereto as Exhibit A and incorporated herein, was published by one insertion in the official newspaper of the Municipality for the publication of notices pursuant to Chapter 985 of the Wisconsin Statutes no less than 14 days before the scheduled date of the hearing; and WHEREAS, the official newspaper is a newspaper of general circulation in the locality of the Project; and WHEREAS, this body is an elected legislative body of the Municipality; and -2- � WHEREAS, on December 22, 1978, the Municipality iSSUed $380,000 principal amount of industrial development revenue bonds (the "Series A Bonds"), dated December 1, 1978, pursuant to an Indenture of Trust (the "Original Indenture"), a Loan Agreement (the "Original Loan Agreement") and secured by a Mortgage (the "Original Mortgage"), each dated as of December 1, 1978; and WHEREAS, in connection with the issuance of the Series A Bonds, the Borrower executed a promissory note in the amount of $380,000 (the "Series A Promissory Note"); and WHEREAS, the Original Indenture provides for the issuance of additional bonds for the purposes of financing the costs of constructing improvements or additions to the project which was financed with the Series A Bonds; and WHEREAS, on November 30, 1981, the Municipality issued $425,000 principal amount of industrial development bonds (the "Series B Bonds"), dated November 1, 1981, pursuant to a First Supplemental Indenture of Trust (the "First Supplemental Indenture"), a First Supplemental Loan Agreement (the "First Supplemental Loan Agreement") and secured by a First Supplemental Mortgage and Assignment of Rents (the "First Supplemental Mortgage"), each dated as of November 1, t481; and WHEREAS, in connection with the issuance of the Series B Bonds, the Borrower executed a promissory note in the amount of $425,000 (the "Series B Promissory Note"); and WHEREAS, the Borrower has now requested that the Municipality provide for the issuance of $1,700,000 principal amount of industrial development revenue bonds upon the terms set forth in this Resolution (as herein described, the "Series C 8onds"); and WHEREAS, in connection therewith the Borrower has presented the Municipality with proposed documentation for the Series C Bonds, as follows: (a) a Bond Purchase Agreement, to be dated as of the date of adoption of this Bond Resolu- tion (the "Bond Purchase Agreement"), to be entered into by and among the Municipality, the Borrower, Banner Packaging, Inc., a Wisconsin corporation (the "Corporate Guaran- tor"), Ronald E. Sowle and Frank J. Kearny III, individuals residing in the State of Wisconsin, (the "Personal Guarantors") and First Wisconsin National Bank of Oshkosh, Oshkosh, WisCOnsin (the "Bond Purchaser"), setting forth the terms and conditions on which the Municipality will sell and the Bond Purchaser will purchase the Series C Bonds; and -3- (b) a Second Supplemental indenture of Trust, to be dated as of November 1, 1984 (the "Second Supplemental Indenture" and together with the Original Indenture, as supplemented by the First Supplemental Indenture, herein- after called the "Indenture"}, to be entered into between the Municipality and the corpo- rate trustee hereinafter designated (the "Trustee"), providing for the creation of the Series C Bonds, the terms thereof and the security therefor; and (c) a Second Supplemental Loan Agreement, to be dated as of November 7, 1984 (the "Second Supplemental Loan Agreement" and together with the Original Loan Agreement, as supple- mented by the First Supplemental Loan Agree- ment, hereinafter called the "LOan Agreement"), to be entered into between the Municipality and the Borrower providing for a loan of the Series C Bond proceeds to the Borrower on repayment terms scheduled to provide the Municipality with revenues sufficient to retire the Series C Bonds in accordance with their terms; and (d) a Promissory Note, to be dated November 1, 1964 (the "Series C Promissory Note" and together with the Series A Promissory Note and the Series B Promissory Note hereinafter called the "Promissory Notes"), to be issued by the Borrower payable to the order of the Municipality in the princi- pal amount of $1,700,000 as evidence of the borrowing provided for in the Second Supple- mental Loan Agreement and to be assigned by the Municipality to the Trustee; and (e) a Second Supplemental Mortgage and Assignment of Rents, to be dated as of November 1, 7984 (the "Second Supplemental Mortgage" and together with the Original Mortgage, as supplemented by the First Supplemental Mortgage, hereinafter called the "Mortgage"), from the Borrower to the Municipality, and from the Municipality to be assigned to the Trustee, providing collateral security for the performance of the Borrower's obligations under the Loan Agreemeat; and -4- (f) Second Supplemental Guaranty Agreements, to be dated November 1, 1984, from each Personal Guarantor to the Trustee (the "Second Supple- mental Guaranty Agreements"); and (g) a Corporate Guaranty Agreement, to be dated November 1, 1984, from the Corporate Guarantor to the Trustee (the "Corporate Guaranty Agree- ment"); and WHEREAS, in accordance with the Act, this Resolution and the aforesaid instruments and documents, the Series C Bonds and interest thereon shall never constitute an indebtedness of the Municipality within the meaning of any State constitutional provision or statutory limitation, shall not constitute or give rise to a pecuniary liability of the Municipality or a charge against its general credit or taxing powers, and shall not constitute or give rise to any personal liability of any member of this body or of any ofEicers or employees of the Municipality on the Series C Bonds or for any act or omission related to the authorization or issuance of the Series C Bonds; and WHEREAS, it is in the public interest of the Munici- pality to encourage and promote the development of projects such as the Project in order to realize public benefits such as, but not limited to, the provision and retention of gainful employment opportunities for the citizens of the Municipality; the stimula- tion of the flow of investment capital into the Municipality with resultant beneficial effects on the economy in the Municipality; and the preservation and enhancement of the Municipality's tax base; and - WHEREAS, the development of the Project and the issuance of Series C Bonds to finance the Project as herein recited will, in the judgment of this body, serve the intended accomplishments of public purpose and in all respects conform to the provisions and requirements of the Act; NOW, THEREFORE, BE IT RESOLVED: 1. Findings and Determinations. It has been found and determined and is hereby declared: (a) that the Project is a qualified "project" under and for the purposes of the Act; (b) that the Borrower is a qualified "eligible participant" under and for purposes of the Act; -5- (c) that the Loan Agreement meets the require- ments of a"revenue agreement" under and for purposes of the Act; (d) that the estimated aggregate cost of pro- viding the Project and payinq the costs incident to the financing is not less than $1,700,000; (e) that the payments required to be made by the Borrower under the Loan Agreement are sufficient in amount to pay when due the principal of, premium, if any, and interest on the Series C Bonds; (f) that the Loan Agreement contains anti- discrimination clauses which are hereby expressly approved by the Municipality; and (g) that all conditions set forth in said Initial Resolution have been satisfac- torily met. 2. Authorization to Borrow and to Lend. The Muni- cipality shall borrow, but only in the manner herein recited, the sum of $1,700,000 for the purpose of (i) financing the costs of providing the Project, (ii) paying the costs of issuing and selling the Series C Bonds, and (iii) paying such other costs related thereto as are permitted to be paid with bond proceeds under the Act. Said borrowing shall be accomplished through the sale of the Series C Bonds issued pursuant to the Act. The Municipality shall lend the sum of $1,700,000 to the Borrower pursuant to the terms of the Loan Agreement, which borrowing shall be evidenced by the Series C Promissory Note and secured by the Mortgage. 3. Designation, Denomination, Tenor and Maturity of Series C Bonds Created for Issuance. The Series C Bonds shall be issued in the principal amount of $7,700,000 and shall be designated: CITY OF OSHKOSH, WISCONSIN INDUSTRIAL DEVELOPMENT REVENUE BONDS, SERIES C (LISKAR INVESTMENTS PROJECT) The Series C Bonds shall be payable in one hundred eighty (180) consecutive monthly payments of principal and interest, due on the first day of each month commencing December 1, 1984, each in the amount of the Monthly Payment Amount. Each QS monthly payment shall be applied first to interest then due and secondly to principal. If on any payment date the Monthly Payment Amount is insufficient to pay interest then accrued and unpaid, the Monthly Payment shall be increased for that payment data by the amount of such insufficiency. For payments due through November i, 1985, the Monthly Payment Amount shall be $17,166.77; thereafter, the Monthly Payment Amount shall be the amount determined for each succeeding twelve-month period by the Trustee prior to each December 1(but in no event earlier than the tenth business day prior thereto) which would, if in effect for the remaining number of monthly payments, amortize the outstanding principal amount of the Series C Bonds together with interest to accrue thereon, assuming an interest rate equal to seventy percent (708) of the Prime Rate in effect on the date of such determination; the foregoing notwithstanding, the Monthly Payment Amount for the payment due November t, 1999 shall be equal to the entire remaining unpaid principal balance plus accrued and unpaid interest. The Series C Bonds shall bear interest at the rate per annum equal to seventy percent (70�) of the Prime Rate; provided, however, that the Series C Bonds shall not bear interest at a rate per annum less than eight percent (6$); provided, further, that in the event of any change in the maximum federal corporate income tax rate, the Series C Bonds shall bear interest at the rate per annum equal to the interest rate otherwise in effect multiplied by a fraction (expressed as a decimal) the numerator of which is one minus the new maximum federal corporate income tax rate and the denominator of which is .54. The foregoing notwithstanding, upon the occurrence of a Tax Violation Alle- gation (as defined in the Second Supplemental Indenture), the Series C Bonds shall bear interest at the rate per annum equal to the Prime Rate plus two percent (2�), effective retroactively to the Tax Violation Date (as defined in the Second Supplemental Indenture). The interest rate on the Series C Bonds shall retro- actively revert to the rate payable if no Tax Violation Allegation had ever occurred if such Tax Violation Allegation is successfully contested, as provided for in the Second Supplemental Indenture. Interest shall be calculated on the basis of actual days elapsed, using a rate per diem computed by dividing the rate per annum by 360. "Prime Rate" means the rate announced from time to time by First Wisconsin National Bank of Milwaukee, Milwaukee, Wisconsin, as its prime rate, changing when and as such prime rate changes. The Series C Bonds shall be issuable as a single, fully registered typewritten Bond. The Series C Bonds and the interest thereon shall be transferable by and shall be payable to the registered owner thereof in the manner and with the effect provided in the Indenture. The principal of, premium, if any, and interest on the Series C Bonds shall be payable in lawful money of the United States of America at the principa2 corporate trust office of the Trustee, as paying agent, or the office of any successor or additional paying agent designated by the Municipality and approved by the Borrower. -7- The Series C Bonds shall be dated November 1, 1984, except in the case of Series C Bonds issued and authenticated after the first interest payment date which shall be dated in accordance with the provisions therefor provided in the Zn- denture. The Series C Bonds shall be lettered with the prefix "CR" and numbered consecutively from 1 upwards in the order of their issuance. The Series C Bonds shall be issued in the form therefor as set forth in the Indenture, with such insertions therein as shall be necessary to comply with the terms of this Resolution and with such corrections therein, if any, as the approving bond attorney may require for conformity with the terms of this Resolution, the Indenture and the Act. 4. Execution and Authentication of Series C Bonds. The Series C Bonds shall be executed on behalf of the Munici- pality with the facsimile or manual signature of its City Manager, countersigned with the manual signature of its Clerk and shall have impressed, imprinted or otherwise reproduced thereon the official seal of the Municipality or a facsimile thereof. No Series C Bond shall be issued unless first authenticated by the Trustee, to be evidenced by the manual signature of an authorized officer of the Trustee on each Series C Bond. 5. Designation of Trustee. The Municipality hereby confirms its appointment of First Wisconsin National Bank of Oshkosh, Oshkosh, Wisconsin, to perform the functions of the Trustee, bond registrar and paying agent under the Indenture, which appointment was made in a resolution adopted by this body on December 21, 1978. 6. Additional Bonds. Bonds in addition to the Series A Bonds, Series B Bonds, and Series C Bonds may be issued from time to time under the Indenture subject to the terms and condi- tions therein provided and subject to the approval of this body. If so issued, such additional Bonds shall rank equally and on a parity with the Series A Bonds, Series B Bonds, and Series G Bonds. The Series A Bonds, Series B Bonds, and Series C Bonds, and any such additional Bonds are hereinafter collectively referred to as the "eonds". 7. Series C Bonds as Limited Obligations. The Series C Bonds and interest thereon shall never be or be considered a general obligation of the Municipality or an indebtedness of the Municipality within the meaning of any State constitational provision or statutory limitation and shall not constitute or give rise to a pecuniary liability of the Municipality or a charge against its general credit or taxing powers. 8. Source of Payment; Pledge of Revenues. The Series C Bonds shall be limited obligations of the Municipality payable by it solely from revenues and income derived by or for the � account of the Municipality from or for the account of the Borrower pursuant to the terms of the Promissory Notes, the Mortgage, the Second Supplemental Guaranty Agreements, the Cororate Guaranty Agreement, and the Loan Agreement; including, without limitation, (i) all payments by the Borrower on the Promissory Notes or pursuant to the terms in the Loan Agreement, (ii) all cash and securities held from time to time in the Trust Funds, and the investment earnings thereon and (iii) all amounts derived by recourse to the Mortgage, the Second Supplemental Guaranty Agreements, or the Corporate Guaranty Agreement; but excluding any amounts derived by the Municipality for its own account pursuant to the terms in the Loan Agreement. As security for the payment of the principal of, premium, if any, and interest on the Bonds, the Municipality has already, pursuant to the Original Indenture, pledged and assigned to the Trustee all of its riqht, title and interest in and to the Promissory Notes, the Loan Agreement (except for its rights to receive and enforce payment of certain taxes, expenses and indemnity payments from the Borrower as set forth in the Indenture and the Loan Agreement}, the Mortgage and the trust funds held by the Trustee under the Original Indenture. As further security for the payment of the principal of, premium, if any, and interest on the Bonds, the Municipality shall confirm that the aforesaid pledge and assignment to the Trustee included all of its right, title and interest in and to the Series C Promissory Note, the Second Supplemental Loan Agree- ment (except for its right to secure and enforce payment of certain taxes, expenses and indemnity payments from the Borrower as set forth in the Indenture and the Loan Agreement), the Second Supplemental Mortgage and the trust funds held by the Trustee under the Second Supplemental lndenture, 9. Redemption of Series C Bonds Prior to Maturity. The Series C Bonds shall be subject to redemption prior to maturity as provided in the Indenture. Notice of any redemption of Series C Bonds prior to stated maturity shall be given in the manner provided in the Indenture. The principal of, premium, if any, and interest on Series C Bonds called for redemption as aforesaid shall be payable solely from moneys held by the Trustee �nder the Indenture and available therefor, including moneys derived from the Borrower for such purpose pursuant to the Loan Agreement. 10. Creation of the Construction Fund. There is hereby created by the Municipality and ordered established with the Trustee, a trust fund to be designated with the names of the Municipality and the Borrower which shall be used to pay (or reimburse the Borrower for) the costs of providing the Project and � such other costs in connection with the Project and the issuance and sale of the Series C Bonds as are permitted to be paid from the proceeds of the Series C Bonds under the Act, the Loan Agreement and the Indenture. There shall be deposited in said Construction Fund the entire proceeds raceived upon sale of the Series C Bonds less the portion thereof constituting accrued interest, The Municipality hereby authorizes and directs the Trustee to withdraw funds from said Construction Fund for dis- bursement to or at the order of the Borrower pursuant to requi- sition of the Borrower as provided in the Indenture and the Loan Agreement. 11. Creation of Bond Fund. There was created under the Original Indenture a trust fund to be designated with the names of the Municipality and the Borrower which is and shall be used to pay the principal of, premium, if any, and interest on the Bonds. The Municipality hereby authorizes and directs the Trustee to withdraw sufficient funds from said Bond Fund to pay the principal of, premium, if any, and interest on the Series A Bonds, Series B Bonds and Series C Bonds as the same become due and payable. 12. Other Trust Funds. There is hereby created by the Municipality and ordered established, if necessary, with the Trustee funds in which there shall be deposited such net proceeds of certain sales, insurance and condemnation awards as may be provided in the Loan Agreement and the Indenture. The Trustee is authorized to withdraw funds from said trust funds for application as provided in the Loan Agreement and the Indenture. 73. Investment of Trust Funds. Any moaeys held as a part of the trust f�nds held by the Trustee under the Indenture may be invested and reinvested by the Trustee �pon request by the Borrower in "Qualified lnvestments" as specified in Section 5.15(b) of the Original Indenture. 74. Determination of Revenue Payment. The amount necessary in each year to pay the principal of, premium, if any, and interest on the Series C Bonds is the sum of (i) the amount of principal becoming due in such year in accordance with the table in paragraph 3 of this Resolution (as reduced from time to time by reason of prior redemptions and open market purchases of Series C Bonds in accordance with the Indenture); plus (ii) the principal amount of Series C Bonds to be redeemed in such year in accordance with a call for redemption made in accordance with paragraph 9 of this Resolution and the Indenture, plus the premium, if any, payable with respect thereto; plus (iii) the amount of interest on the Series C Bonds becoming due in such year in accordance with the interest rates specified in paragraph 3 of this Resolution. -10- In expressing the Borrower's obligation to make the necessary r.evenue payments, it shall suffice herein and in the Loan Agreement to state that the Borrower shall be obligated to pay the Municipality (or the Trustee for the account of the Municipality) amounts sufficient to pay when due the principal of, premium, if any, and interest on the Bonds. The Loan Agreement contains provisions, adequate in the judgment of this body, requiring the Borrower to provide for the maintenance of the Project and the carrying of all proper in- surance with respect thereto. Consequently, the Borrower need not be required to pay amounts into any reserve funds for the retirement of the Series C Bonds or for the maintenance of the ProjeCt. 15. Award of Series C Bonds; Execution and Delivery of the Bond Purchase Aqreement. The Borrower has negotiated for the sale of the Series C Bonds to the Bond Purchaser at a price of 100� of the principal amount of the Series C Bonds, plus accrued interest to the date of delivery. Given the purposes of the financing and the involvement of the Municipality therewith, it is the determination of this body that the Series C Bonds shall be hereby awarded to the Bond Purchaser at the price aforesaid with delivery to follow in the manner, at the time and subject to the conditions set forth in the Bond Purchase Agreement. As evidence thereof, the City Manager and the Clerk are hereby authorized and directed for and in the name of the Municipality to execute, affix with the official seal of the Municipality and deliver the Bond Purchase Agreement in the form presented here- with, or with such insertions therein or corrections thereto as shall be approved by the City Manager and Clerk consistent with this Resolution and the terms of the Act, their execution thereof to constitute conclusive evidence of their approval of any such insertions and corrections. 16. Execution and Delivery of the Second Supplemental Loan Agreement and the Second Sup lemental Indenture; Assignment of the Series C Promissory Note, the Second Supplemental Mortgage; Approval of the Second Supplemental Guaranty Agreements and the Corporate Guaranty Agreement. The terms and provisions of the Series C Promissory Note, the Second Supplemental Loan Agreement, the Second Supplemental Mortgage, the Second Supplemental Guaranty Agreements, the Corporate Guaranty Agreement, and the Second Supplemental Indenture are hereby approved. The City Manager and the Clerk are hereby authorized for and in the name of the Municipality to execute, affix with the official seal of the Municipality and deliver the Second Supplemental Loan Agree- ment, the Second Supplemental Indenture and the assignments of the Series C Promissory Note and the Second Supplemental Mortgage in the respective forms thereof presented herewith, or with such -11- insertions therein or corrections thereto as shall be approved by the City Manager and Clerk consistent with this Resolution and the terms of the Act, their execution thereof to constitute conclusive evidence of their approval of any such insertions and corrections. 17. Execution and Delivery of the Series C Bonds. The City Manager and the Clerk are hereby authorized for and in the name of the Municipality to execute the Series C Bonds in the manner authorized by paragraph 4 of this Resolution. Subject to the terms and conditions of the Bond Purchase Agreement, the Municipality shall deliver the Series C Bonds to the Bond Pur- chaser. 18. General Authorizations. The City Manager and the Clerk and the appropriate deputies and officials of the Munici- pality in accordance with their assigned responsibilities are hereby each authorized to execute. publish, file and record such other documents, instruments, notices (including notice pursuant to Wis. Stats. §893.77) and records and to take such other acti ns as shall be necessary or desirable to accomplish the purposes of this Resolution and to comply with and perform the obligations of the Municipality under the Series C Bonds, the Loan Agreement and the Indenture. In the event that the City Manager or the Clerk shall be unable by reason of death, disability, absence or vacancy of office to perform in timely fashion any of the duties specified herein {such as the execution of Series C Bonds, the Bond Pur- chase Agreement, the Second Supplemental Loan Agreement, the Second Supplemental Indenture or the assignments of the Series C Promissory Note and the Second Supplemental Mortgage), such duties shall be performed by the officer or official succeeding to such duties in accordance with law and the ordinances of the Municipality. 79. Public Approval. This body, on behalf of the Municipality, hereby approves of the issue of Series C Bonds for the purposes of Section 103(k) of the Internal Revenue Code of 1954, as amended. 20. Election Under the Internal Revenue Code. The Municipality hereby elects to have the provisions of Section 103(b)(6)(D) of the Internal Revenue Code of 1954, as amended, applied to the issuance of the Series C Bonds. The City Manager and the Clerk or either o£ them are authorized to execute and file, for and in the name of the Municipality, such documents as may be necessary or appropriate to effectuate said election. -12- EXHIBIT A NOTICE OF PUBLIC HEARING TO THE RESIDENTS OF THE CITY OF OSHKOSH, WISCONSIN Notice is hereby given that the City Council of the City of Oshkosh, Wisconsin (the "Issuer") will hold a public hearing at 7:00 p.m. on November 15, 1984 at the City Hall regarding the proposed issuance by the Issuer of industrial development revenue bonds pursuant to Section 66.521, Wisconsin Statutes, as amended, in a maximum agqregate face amount of $1,700,000, on behalf of Liskar Investments, a Wisconsin limited partnership. The bonds would finance the construction of two additions, totaling 48,000 square feet, to an existing building and the equipping of such additions, to be used for the manufac- ture of flexible packaging products and the provision of related office services. The location of the facility to be financed is 3550 Moser Street in the City of Oshkosh. The initial operator of the facility will be Banner Packaging, Inc., a Wisconsin corporation. The public hearing will be conducted in a manner that provides a reasonable opportunity to be heard for persons with differing views on both issuance of the bonds and the loca- tion and nature of the proposed facility. Any person desiring to be heard on this matter is requested to attend the public hearing or send a representative. Written comments (not exceeding 250 words) may be presented at the hearing if submitted in advance to the City Clerk. Comments made at the hearing are for the consideration of the City Council of the Issuer but do not bind any legal action to be taken by them. /s/Donna C. Serwas Clerk Publication Date: November 1, 1984. CERTIFICATIONS BY CLERK I, Donna C. Serwas, being first duly sworn, do hereby depose and certify that I am the duly appointed, qualified and acting Clerk of the City of Oshkosh, in the County of Winnebago, State of Wisconsin, and as such I have in my possession, or have access to, the complete corporate records of said City and of its City Council; that I have carefully compared the transcript hereto attached with the aforesaid corporate records; that said transcript hereto attached is a true� correct and complete copy of all the corporate records in relation to the adoption of Resolution No. entitled: BOND RESOLUTION AUTHORZZING $1,700,000 CITY OF OSHKOSH, WISCONSIN INDUSTRIAL DEVELOPMENT REVENUE BONDS, SERIES C (LISKAR INVESTMENTS PROJECT) I do hereby further depose and certify as follows: 1. Said resolution was considered for adoption by the City Council at a meeting held in the City Hall at P.M. on November 15, 1984. Said meeting was a regular meeting of the City Council and was held in open session in compliance with Subchapter IV of Chapter 19 of the Wisconsin Statutes. 2. Said resolution was on the agenda for said meeting and public notice thereof was given not less than 24 hours prior to the commencement of said meeting in compliance with Section 19.84 of the Wisconsin Statutes, inclnding, without limitation, by posting on the bulletin board in the City Hall, by notice to those news media who have filed a written request for notice of meetings and by notice to the official newspaper of the City. 3. Said meeting was called to order by who chaired the meeting. Upon roll I noted and recorded that the following council members were present: and that the following council members were absent: -i- I noted and recorded that a quorum was present. Various matters and business were taken up during the course of the meeting without intervention of any closed session. One of the matters taken up was said resolution which was introduced and its adop- tion was moved by Council Member , and seconded by Council Member Following discussion and after all council members who desired to do so had expressed their views for or against said resolution, the question was called and upon roll being called and the continued presence of a quorum being noted, the recorded vote was as follows: Aye: Nay: Abstain: Whereupon said resolution was declared adopted, and I so recorded it. IN WITNESS WHEREOF, I have signed my name and affixed the seal of the City hereto on this day of November, 1984. [Municipal Seal] Cler STATE OF WISCONSIN ) ) SS COUNTY OF WINNEBAGO) Subscribed and sworn to before me this day, the date last above written. Notary Public My commission expires;' [Notarial Seal] -ii- 21. Effective Date; Conformit . This Resolution shall be effective imme iately upon its passage and approval. To the extent that any prior resolutions of this body are inconsistent with the provisions hereof, this Resolution shall control and such prior resolutions shall be deemed amended to such extent as may be necessary to bring them in conformity with this Reso- lution. * * * * * The foregoing resolution of the City Council of the City of Oshkosh, Wisconsin, was adopted and recorded on November � , 1984. �'.. "� � �4;�a r -.������ C, � A + w ' :3 x. � �1, ,9f �� ��.,s�`��%", „�. -� �����e�'�� �%,l• �-��i`>fvy Mayor i � I�`J/Ii1,�iLfJ �'. �/l./�L�/LQ � Clerk -13- CERTIFICATIONS BY CLERK I, Donna C. Serwas, being first duly sworn, do hereby depose and certify that Z am the duly appointed, qualified and acting Clerk of the City of Oshkosh, in the County of Winnebago, State of wisconsin, and as such I have in my possession, or have access to, the complete corporate records of said City and of its City Council; that I have carefully compared the transcript hereto attached with the aforesaid corporate records; that said transcript hereto attached is a true, correct and complete copy of all the corporate records in relation to the adoption of Resolution No. 1 entitled: BOND RESOLUTION AUTHORIZING $1.700,000 CITY OF OSHKOSH, WISCONSIN INDUSTRIAL DEVELOPMENT REVENUE BONDS, SERIES C (LISKAR INVESTMENTS PROJECT) I do hereby further depose and certify as follows: 1. Said resolution was considered for adoption by the City Council at a meeting held in the City Hall at 7:00 P.M. on November 15, 1984. Said meeting was a regular meeting of the City Council and was held in open session in compliance with Subchapter IV of Chapter 19 oi the Wisconsin Statutes. � 2. Said resolution was on the agenda for said meeting and public notice thereof was given not less than 24 hours prior to the commencement-of said meeting in compliance with Section 19.84 of the Wisconsin Statutes, including, without limitation, by posting on the bulletin board in the City Hall, by notice to those news media who have filed a written request for notice of meetings and by notice to the official newspaper of the City. 3. Said meeting was called to order by Propp who chaired the meeting. Upon roll I noted and recorded that the follo�ing council members were present: 11er ebos en and that the following council members were absent: Floyd R. Chapin and Don H. Kutchera -i- I noted and recorded that a quorum was present. Various matters and business were taken up during the course of the meeting without intervention of any closed session. One of the matters taken up was said resolution which was introduced and its adop- tion was moved by Council Member u�is� Pb�os�h , and seconded by Council Member p„n� Following discussion and after all council members who desired�to do so had expressed their views for or against said resolution, the question was called and upon roll being called and the continued presence of a quorum being noted, the recorded vote was as follows: Aye: Mather Pun� Teichmiller Hulsebosch Propp Nay: or e Abstain: Whereupon said resolution was declared adopted, and I so recorded it. IN WITNESS WHEREOF, I have signed my name and affixed the sca� of the City hereto on this 16th day of:j;t7pvember, 1984. �Municipa? S4a1] '���1';.li./� (�.,% ;�'L i%��l Clerk STATE OF WISCONSIN ) ) SS COUNTY OF WINNEBAGO) Subscribed and sworn to before me this day, the date last above written. 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