HomeMy WebLinkAbout33076 / 84-08RESOLUTION # 8
The City Council of the City of Oshkosh, Winnebago County, Wisconsin,
met in special, open, public session at its regular meeting place on November 1, 1984, at
7:00 o'ciock P.M., with the following members present: Charles J.
Hulsebosch, Don H. Kutchera, James A. Mather, Robert E. Pung,
Bernice Teichmiller, Floyd R. Chapin, Kathleen M, Propp
and the followinr members absent: none
(Other business)
The Clerk stated that one purpose of the meeting w as the consideration of
proposals received for the purchase of 54,000,000 Sewer Bonds, Series 1984 of the City of
Oshkosh pursuant to sealed bids.
Thereupon the following resolution was introduced by Kutchera
and was read in full, and pursuant to motion made by Kutchera
and seconded by (',haDin was adopted by the following vote:
Aye: Hulsebosch, Kutchera, Mather, Pung, Teichmiller,
Chapin, Propp
N8y' None
RESOLUTION determining to issue $4,OOO,U00 Sewer
Bonds, Series 1984, of the City of Oshkosh, Winnebago
County, Wisconsin, providing detaiis, prescribing the
form of bond, awarding the bonds to the highest bidder,
and levying taxes.
WHEREAS, by initial resolution duly adopted on September 6, 1984 there
have been authorized to be issued not exceeding $6,000,000 bonds of the City of Oshkosh
(the "City") for the public purpose of improving and extending the sewer system of the
City; and
WHEREAS, official notice of the adoption of said initial resolution was
published on September 7, 1984 in the Oshkosh Northwestern and to the date of this
resolution, no petition has been filed with the City Clerk requesting that said initial
resolution be submitted to the electors; and
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RESOLUTION # $
WHEREAS, it has been determined that of the totai suthorized issue of
$6,000,000 it is now desirable to sell bonds in the amount of $4,000,000 and that the sale
of the balance of the total authorized issue be deferred to a later date; and
WHEREAS, the Direetor of Finance has caused notice of the public sale of
bonds in the amount of $4,000,000 to be published in The Bond Buyer and in the Oshkosh
Northwestern and to be distributed to potential bidders for said bonds; and
WIiEREAS, pursuant to advertisement, sealed bids were received for the
purchase of bonds in the amount aforesaid until 11:00 A.M., C.S.T. on November 1, 1984,
which bids are as follows:
Name of Bidder
The First National Bank of Chicago, Chicago, ILL
Northern Trust Co., Chicago, ILL
Harris Trust 6 Savings Bank, Chicago, ILL
First Wisconsin National Bank, Milwaukee, WI
Continental Illinois Nat'1 Bank & Trust Co.,
Chicago, ILL
; and
WHEREAS, the bid of
of Chicago ,
associates at a price oF par plus accrued in
submitted, which bid is as foilows:
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Net Interest Rate
$6,237,306.50
6,238,310.00
6,257,095.00
6,260,300.00
6,440,295.92
10.09681�
10.09843�
10.1288%
10.1340%
10.425408%
and
� of delivery,/was the best bid
and a premium of $18.50
�'
0
W-30
$4,000,000
CI1Y OF OSHKOSH, WIS�NSIN
GINERAL OBLIGATT�i SiWER BONI�S
S£LLING TSiIJRSDAY, NOVENIDER 1, 1984
171 li �.
1. The First National Bank of (�icago ) Jt.
2. Robert W. Baird � Co. Incorporated �) �rs.
3. Autchuison, Sho�cey, Frley E C,o.
4. Unibanc Trust
5. Ibugherty, D�akins, St�nd E Yost Incorporated
6. Howe, Barnes & Johnson, Inc.
IN ASSOCIATI�I WITFi
1. Prudentizl-Bache Sectsities ) Jt.
2. Kidder, Peabody E Co. Incorp�rated )
3.° � Clayton Broan & Associates, Inc. ) Mgrs.
4. Prescott, Ball � Turben Inc.
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RESOLUTION � 8
BID FORM
MEMBERS OF TFg CITY COUNCIL
CITY OF OSNKOSH, WISCONSIN
RESOLUTION # 8
November 1, 1984
We offer [o purchase the t4,000,000 Sever Bonds, Series 1984, of the
Ci[y of Oshkosh, Wiaeonain to be dated November 1, 1984 and offered for
sale on [he above da[e, on the terme and eonditiona stated in the
Off'cial Nocice of Sale and the Offieiai Statement [herefor, for a price
o�� <90�. D/SZ..Sl7 (not leas than �4,000,000), and acccued intereet
to date of elivery. it�e bonda of the various maturitiea to bear
intereaC at [he folloving annual rates:
9 56 Z for bonda due November 1, 19�through November 1, 19 9 y
9,� O X for bonds due November 1, 19� thraugh November 1, 19�
9, $6 Z for bonda due November 1, 19� through November 1, 19
�p.00 S for bonda due Novembes 1, 192q through November 1, 19
/p, /O X for bonds due November 1,�� through Noveober 1, 19
�Q. �D X for bonds due November 1,�0� [ through November 1, 19
��.�x for bonds due November l,�)jp�i [hrough November 1, 19
�p��X for bonda due November 1,��I� through November 1, 19
�d_S�v Z for bonds due November 1,�9p�! through November 1, 19 --�-
s_X for bonds due November 1, 29 through November 1, 19
Z for bonds due November 1, 19 [hrough November 1, 19
--X for bonds due November 1, 19 through November 1, 19
VI for bonds due November 1, 19 through November 1, 19
X for bonds due November 1, 19 through November 1, 19
_X foz bonds due November 1, 19_ through November 1, 19_
Our eomputation of [he [otal amount of interest from date of isaue to
ma[urity represented by the iaterest rates speeified above, and of the
nec intezes[ cost of this bid, vhile noe a part of this bid, are aet
forth belov. .
2his bid ia made for prompt aceeptance and subject [o the conditions
of [he Official No[ice of Sale. We enclose, herevith, our cashier's or
certified cheek or bank� draft, in the �ount of $80,000, vhich is to be
held by the City pending compliance vith [he eonditions of this bid.
Respectfully submic[ed,
The First National Bank of Chicago
Syndicace Manager
�������
BY Vice President
Intereat Computation
Sie compute the total amount of interest from date of issue to
ma[uri[y, iepresented by the intereat rates epeeified in Che bid, to
be �p, p'�,37,�CG.S U for a Nee Rate of /[�. D�% �Q / / D. U�/ (o$ /
The foregoing bid is hezeby accep[ed by and on behalf of the City of
Oshkosh, Wisconsin [his lst day of November, 1984.
Ci[y Manager
Director of Finance/Treasurer
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RESOLUTION # 8
NOW, THEREFORE, Be It Resolved by the City Council of the City of
Oshkosh, Winnebago County, Wisconsin, as follows:
Section 1. The advertisement by the Director of Finance of bonds of the
City in the principal amount of $4,000,000, as aforesaid, is in all respects ratified and
confirmed.
Section 2. Definitions. For all purposes of this Resolution, except as
otherwise expressly provided or unless the context otherwise requires, the terms defined
in this Section shall have the meanings set forth below, and shall include the plural as
well as the singular.
"Bond" or "Bonds" shall mean one or more of the Sewer Bonds, Series 1984
authorized to be issued by the terms of this Resolution.
"Bond Register" shall mean the books of the City kept by the Registrar to
evidence the registration and transfer of the �Bonds.
"City" shall mean the City of Oshkosh, Winnebago County, Wisconsin.
"Governing Body" shall mean the City Council of the City.
"Registrar" shall mean the First Wiseonsin Trust Company, in Milwaukee,
Wisconsin, or a successor designated as Registrar hereunder.
"Resolution" shall mean this resolution as adopted by the Governing Body of
the City.
"Statute" shall mean Chapter 67 of the Wisconsin Statutes, as amended and
supplemented.
Section 3. Authorization. The issuance and sale of $4,000,000 aggregate
principal amount of sewer bonds is hereby authorized for the purpose of providing funds
in that amount to be applied to the cost of improving and extending the sewer system of
the City. The Bonds shall be designated "Sewer Bonds, Series 1984," shall be dated
November 1, 1984, as originally issued, and shall also bear the date of their
authentication by the Registrar. The Bonds shall be in fully registered form, shall be in
denominations of $5,000 each and integral multiples thereof (but no single Bond shall
represent installments of principal maturing on more than one date), shall be numbered,
shall mature serially on November 1 of each of the years 1989 to 2004, inclusive, in the
amounts and shall bear interest at the rates per annum, as follows:
Year
1989
1990
1991
1992
1993
1994
1995
1996
Amount
$ 50,000
50,000
50,000
50,000
50,000
50,000
200,000
200,000
Interest
Rate
9.5 %
9.5
9.5
9.5
9.5
9.5
9.7
9.7
Year
1997
1998
1999
2000
2001
2002
2003
2004
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Interest
Amount Rate
$350,000
350,000
425,000
425.000
450,000
450,000
450,000
400,000
9.7 %
9.8
10.0
10.1
10.2
10.3
10.35
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RESOLUTION # 8
Section 4. Interest; Payment Provisions. The Bonds shall bear interest
from their date or from the most recent interest payment date to which interest has
been paid or duly provided for, at the rates set out above, such interest (computed upon
the basis of a 360-day year of twelve 30-day months) being payable on the first days of
May and November of each year, commencing on May 1, 1985. Interest on each Bond
shall be paid by check or draft of the Registrar to the person in whose name such Bond is
registered at the close of business on the 15th day of the calendar month next preceding
the interest payment date. The principal of each Bond shall be payable in lawful money
of the United States of America upon presentation and surrender of such Bond at the
principal corporate trust office of the Registrar in Milwaukee, Wisconsin.
Section S. Eaecution; Authentication. The Bonds shall be executed on
behalF of the City with the facsimile signature of the City Manager and with the fac-
simile signature of the City Clerk, and sealed with the corporate seal of the City or a
printed facsimile thereof. [n case any officer whose signature shall appear on any Bond
shall cease to be such officer before the delivery of such Bond, such signature shali
nevertheless be valid and sufficient for all purposes, the same as if such officer had
remained in office until delivery.
All Bonds shall have thereon a certificate of authentication substantially in
the form hereinafter set forth duly executed by the Registrar as authenticating agent of
the City and showing the date of authentication. No Bond shall be valid or obligatory for
any purpose or be entitled to any security or benefit under this Resolution unless and
until such certiFicate of authentication shall have been duly executed by the Registrar by
manual signature, and such certificate of authentication upon any such Bond shall be
conclusive evidence that such Bond has been authenticated and delivered under this
Resolution. The certificate of authentication on any Bond shall be deemed to have been
executed by the Registrar if signed by an authorized officer of the Registrar, but it shall
not be necessary that the same officer sign the certificate of authentication on all of the
Bonds issued hereunder.
Section 6. Registration of Bonds; Persons Treated as Owners. The City
shall cause books (the "Bond Register") for the registration and for the transfer of the
Bonds as provided in this Resolution to be kept at the principal corporate trust office of
the Registrar, which is hereby constituted and appointed the registrar of the City with
respect to the Bonds herein authorized. Upon surrender for transFer of any Bond at the
principal corporate trust office of the Registrar duly endorsed by, or acco m panied by a
written instrument or instruments of transfer in form satisfactory to the Registrar duly
executed by, the registered owner or his attorney duly suthorized in writing, the City
shall execute and the Registrar shall authenticate, date and deliver in the na m e of the
transferee or transferees a new fully registered Bond or Bonds of the same maturity of
authorized denominations, for a like aggregate principal amount. Any fully registered
Bond or Bonds may be exchanged at said office of the Registrar for a like aggregate
principal amount of Hond or Bonds of the same maturity of other authorized denomina-
tions. The execution by the City of any fully registered Bond shall constitute full and
due authorization of such Bond and the Registrar shall thereby be authorized to authenti-
cate, date and deliver such Bond. The Registrar shall not be required to transfer or
exchange any Bond during the period of fifteen days next preceding any interest payment
date on such Bond, nor to transfer or exchange any Bond after notice calling such Bond
for prepayment has been mailed nor during the period of fifteen days next preceding
mailing of a notice of prepayment of any Bonds.
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 the principal of,
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RESOLUTION # 8
premium (if any) or interest on any Bond shall be made only to or upon the order of the
registered owner thereof or his legal representative. 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.
No service charge shall be made for any transfer or exchange of Bonds, but
the City or the Registrar may require payment of a sum sufficient to cover any tax or
other governmental charge that may be imposed in connection with any transfer or
exchange of Bonds except in the case of the issuance of a Bond or Bonds for the unre-
deemed portion of a Bond surrendered for redemption.
Section 7. Prior Redemption. Bonds maturing on and after November 1,
1995 shall be subject to redemption prior to maturity at the option of the City as a
whole, or in part in inverse order of their maturity (less than all of the Bonds of a single
maturity to be selected by the Registrar), on November 1, 1994 and on any interest
payment date thereafter, at the redemption price of par plus accrued interest to the date
fixed for redemption plus a premium in the amounts, for redemption on the dates, as
follows:
Redemption Date
Premium
November 1, 1994 - November 1, 1996, inclusive 2%
J�Iay 1, 1997 - November 1, 1999, inclusive 1%
May 1, 2000 and thereafter none
The Bonds shall be redeemed only in the principal amount of 55,000 each
and integral multiples thereof. At least 45 days prior to the redemption date (unless a
shorter notice shall be satisfactory to the Registrar), the City shall notify the Registrar
of such redemption date and of the principal amount of Bonds to be redeemed. For
purposes of any redemption of less than all of the outstanding Bonds of a single maturity,
the particular Bonds or portions of Bonds to be redeemed shall be selected not more than
60 days prior to the redemption date by the Registrar from the outstanding Bonds of the
longest maturity then outstanding by such method as the Registrar shall deem fair and
appropriate, and which may provide for the selection for redemption of Bonds or portions
of Bonds in principal amounts of 55,000 and integral multiples thereof.
The Registrar shall promptly notify the City in writing of the Bonds or
portions of Bonds selected for redemption and, in the case of any Bond selected for
partial redemption, the principal amount thereof to be redeemed.
Section 8. Redemption Prceedure. Unless waived by any holder of Bonds
to be redeemed, notice of the call for any such redemption shall be given by the Regis-
trar on behalf of the City by mailing the redemption notice by registered or certified
mail at least thirty days and not more than sixty days prior to the date fixed for redemp-
tion to the registered owner of the Bond or Bonds to be redeemed at the address shown
on the Bond Register or at such other address as is furnished in writing by such registered
owner to the Registrar.
All notices of redemption shall state:
(1) the redemption date,
(2) the redemption price,
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RESOLUTION # 8
(3) if less than all outstanding Bonds are to be redeemed, the identification
(and, in the case of partial redemption, the respective principal amounts) of the
Bonds to be redeemed,
(4) that on the redemption date the redemption price will become due and
payable upon each such Bond or portion thereof called for redemption, and that
interest thereon shall cease to accrue from and after said date, and
(5) the place where such Bonds are to be surrendered for payment of the
redemption price, which place of payment shall be the principal corporate trust
office of the Registrar.
Prior to any redemption date, the City shall deposit with the Registrar an
amount of money suFficient to pay the redemption price of all the Bonds or portions of
Bonds which are to be redeemed on that date.
Notice of redemption having been given as aioresaid. *.he Honds or portions
of Bonds so to be redeemed shall, on the redemption date, become due and payable at the
redemption price therein specified, and from and after such date (unless the City shall
default in the payment of the redemption price) such Bonds or portions of Bonds shall
cease to bear interest. Upon surrender of such Bonds for redemption in accordance with
said notice, such Bonds shall be paid by the Registrar at the redemption price. Install-
ments of interest due on or prior to the redemption date shall be payable as herein pro-
vided for payment of interest. Upon surrender for any partial redemption of any Bond,
there shall be prepared for the registered owner a new Bond or Bonds of the same matur-
ity in the amount oi the unpaid principal. All Bonds which have been redeemed shall be
cancelled and destroyed by the Registrar and shall not be reissued.
Section 9. Form of Bonds. The Bonds, the certificate of authentication to
be endorsed thereon and the form of assignment are all to be in substantially the follow-
ing forms with necessary and appropriate variations, omissions and insertions as per-
mitted or required by this Resolution:
(Form of Bond)
United States of America
State of Wisconsin
County of Winnebago
City of Oshkosh
Sewer Bond, Series 1984
Rate of
Interest Ylaturity Date Registered Owner Principa! Amount
November 1, 19
HNOW ALL MEN BY THESE PRESENTS: That the City of Oshkosh, in the
County of Winnebago, Wisconsin (the "City"), hereby acknowledges itself to owe and for
value received promises to pay to the Registered Owner hereinabove identified, or regis-
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RESOLUTION # 8
tered assigns as hereinafter provided, on the Maturity Date hereinabove identified, the
Principal Amount hereinabove identified and to pay interest (computed on the basis of a
360-day year of twelve 30-day months) on such principal amount from the date of this
Hond or from the most recent interest payment date to which interest has been paid at
the Rate of Interest per annum hereinabove set forth on May 1 and November 1 of each
year, commencing May 1, 19 85 , until said principal sum is paid, except as the
provisions hereinafter set forth with respect to redemption may be and become appli-
cable hereto.
The principal of this Bond is payable in lawful money of the United States
of America upon presentation and surrender of this Bond at the principal corporate trust
ofFice of the First Wisconsin Trust Company, :�filwaukee, Wisconsin, as registrar and
paying agent (the "Registrar"). Payment of each installment of interest shall be made to
the registered owner hereof who shall appear on the registration books of the City main-
tained by the Registrar at the close of business on the 15th day of the calendar month
next preceding the interest payment date and shail be paid by check or draft of the
Registrar mailed to such registered owner at his address as it appears on such registra-
tion books or at such other address as may be furnished in writing by such registered
owner to the Registrar.
Reference is hereby made to the further provisions of this Bond set forth
on the reverse side hereof and such further provisions shall for all purposes have the
same effect as if set forth on the front side hereof.
It is hereby certified, recited and declared that all acts, conditions and
things required to be done, exist, happen and be performed precedent to and in the issu-
ance of this Bond have been done, have existed, have happened and have been performed
in regular form and manner as required by the constitution and statutes of the State of
Wisconsin, that this Bond, together with all other indebtedness of the City, does not
exceed any limitation prescribed by law, and that said city has levied a direct annual
irrepealable tax sufficient to pay the interest hereon when it falls due and also to pay
and discharge the principal hereof at maturity.
The full faith, credit and resources of the City are hereby pledged for the
payment of the principal of and interest on this Bond and the issue of which it is a part as
the same respectively become due and for the levy and collection of sufficient taxes for
that purpose.
This Bond shall not be valid or become obligatory for any purpose until the
certificate of authentication hereon shall have been signed by the Registrar.
IN WITNESS WHEREOF the City of Oshkosh, Winnebago County, Wisconsin,
by its City Council, has caused this Bond to be executed with the duly authorized Fac-
simile signature of its City Manager and with the duly authorized facsimile signature of
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RESOLUTION # 8
its City Clerk and its official seal or a facsimile thereof to be impressed or reproduced
hereon, as of the first day of , 19_
(facsimile signature) (facsimile signature)
City Clerk City Manager
[SEAL]
CERTIFICATE OF AUTHENTICATION
This Bond is one of the Bonds described in the within mentioned Resolution
and is one of the Sewer Bonds, Series 1984 of the City of Oshkosh, Wisconsin.
Date of Authentication:
This Bond is
amount of $4,000,000 (the
sewer system of the City,
of the Wisconsin Statutes
November 1, 1984.
First Wisconsin Trust Company,
as Bond Registrar
By
Authorized Officer
[Form of Bond - Reverse Side]
one of an suthorized issue of Bonds aggregating the principal
"Honds") issued to pay the cost of improving and extending the
pursuant to and in ell respects in compliance with Chapter 67
and a resolution adopted by the City Council of said City on
Bonds of the issue of which this Bond is one maturing on and after
November 1, 1995 are subject to redemption prior to maturity at the option of the City
as a whole, or in part in inverse order of their maturity (in integral multiples of $5,000,
less than all the Bonds of a single maturity to be selected by the Registrar in such
manner as it shall deem fair and appropriate) on November 1, 1994 and on any interest
payment date thereafter, at the redemption price of par plus accrued interest to the date
fixed for redemption, plus a premium in the amounts, for redemption on the dates, as
follows:
Redemption Date
November 1, 1994 - November 1, 1996, inclusive
May 1, 1997 - November 1, 1999, inclusive
May 1, 2000 and thereafter
Premium
2%
1%
none
Notice of any intended redemption shall be sent by registered or certified
mail not less than thirty days nor more than sixty days prior to the date fixed for
redemption to the registered owner of each Bond to be redeemed (in whole or in part) at
the address shown on the registration books of the City maintained by the Registrar or at
such other address as is furnished in writing by such registered owner to the Registrar.
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RESOLUTION # 8
When so called for rede mption, this Bond, or the portion thereof being so called for
redemption, will cease to bear interest on the specified redemption date, provided funds
for redemption are on deposit at the place of payment at that time, and shall not be
deemed to be outstanding.
This Bond is transferable by the registered owner hereof in person or by his
attorney duly authorized in writing at the principal corporate trust office oF the Regis-
trar in Milwaukee, Wisconsin, but only in the manner, subject to the limitations and upon
paym ent of the charges provided in the authorizing resolution, and upon surrender and
cancellation of this Bond. Upon such transfer a new Bond or Bonds of authorized denom-
inations of the same maturity and for the same aggregate principal amount will be issued
to the transferee in exchange therefor.
The Bonds are issuable in fully registered form in the denomination of
$5,000 each or integral m ultiples thereof. This Bond may be exchanged at the principal
corporate trust office of the Registrar for a like aggregate principal amount of Bonds of
the same maturity of other authorized denbminations, upon the terms set forth in the
authorizing resolution.
The City and the Registrar may deem and treat the registered owner as the
absolute owner hereof for the purpose of receiving payment oF or on account of principal
hereof, premium, if any, hereon and interest due hereon and for all other purposes and
neither the City nor the Registrar shall be affected by any notice to the contrary.
ASSIGNMENT
FOR VALUE RECEIVED, the undersigned sells, assigns and transfers unto
(Name and Address of Assignee)
the within Bond and does hereby irrevocably constitute and appoint
or its successor as Registrar to
transfer the said Bond on the books kept for registration thereof with full power of
substitution in the premises.
Dated:
Signature guaranteed:
NOTICE: The signature to this assignment must correspond with the name of the
registered owner as it appears upon the face of the within Bond in every
particular, without alteration or enlargement or any change whatever.
Section 10. Sale of Bonds. The sale of the Bonds to The First National
Bank of Chicaeo and Associates, at the price of par plus aecrued inter-
est to the date of delivery is hereby confirmed. The City lieasurer is hereby authorized
to deliver the Bonds to said purchasers upon payment of the purchase price.
Section 11. Use of Proceeds; No Arbitrage; Bonds to Remain in Registered
Form. The principal proceeds of the Bonds shall be deposited in a special fund and used
solely for the purpose for which the Bonds were authorized.
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RESOLUTION # 8
The principal proceeds from the sale of the Bonds shall be used only to pay
the costs of public projects aforesaid and general and current municipal expenses.
The City recognizes that the purchasers and holders of the Bonds will have
accepted them on, and paid therefor a price which reflects, the understanding that
interest thereon is exempt from federal income teacation under laws in force at the time
the Bonds shall have been delivered. In this connection the City agrees that it shall take
no action which may render the interest on any of the Bonds subject to federal income
taxation and that the principal proceeds of the sale of the Bonds shall be devoted to and
used with due diligence for the purpose for which the Bonds are hereby authorized to be
issued.
The City Manager, the City Clerk, the City Finance Director and the City
Treasurer, or any of them, are hereby authorized to execute on behalf of the City an
Arbitrage Certificate to assure the purchasers and holders of the Bonds that the proceeds
of the Bonds are not expected to be used in a manner which would or might result in the
Bonds being "arbitrage bonds" under Section 103(c) of the Internal Revenue Code of 1954,
as amended, (the "Code") or the regulations of the United States Treasury Department
currently in effect or proposed. Such Arbitrage Certificate shall constitute a represen-
tation and certiFication of the City and no investment of Bond proceeds or of moneys
accumulated to pay the Bonds herein authorized shall be made in violation of the expec-
tations prescribed by said Arbitrage Certificate.
The City further recognizes that Section 103(j) of the Code requires the
Bonds to be issued and to remain in fully registered form in order that interest thereon is
exempt from federal income taxation under laws in force at the time the Bonds are
delivered. In this connection, the City agrees that it will not take any action to permit
the Bonds to be issued in, or converted into, bearer or coupon form.
Section 12. Duties of Registrar. If requested by the Registrar, the City
Manager is authoriaed to execute and the City Clerk is authorized to attest the Regis-
trar's standard form of agreement between the City and the Registrar with respect to
the obligations and duties of the Registrar hereunder which shail include the following:
(s) to act as Registrar, authenticating agent, paying agent and transfer
agent as provided herein;
(b) to give notice of redemption of Bonds as provided herein;
(c) to cancel and destroy Bonds which have been paid at maturity or upon
eariier redemption or submitted for exchange or transfer;
(d) to furnish the City at least annuslly a certificate of destruction with
respect to Bonds cancelled and destroyed; and
(e) to furnish the City at least annually an audit confirmation of Honds
paid, Bonds outstanding and payments made with respect to interest on the Bonds.
Section 13. Taa Levy. In order to provide for the collection of a direct
annual tax sufficient to pay the interest on the Bonds and to pay and discharge the prin-
cipal thereof at maturity, there is hereby levied upon all the taxable property in the City
of Oshkosh a direct annual tax in amounts sufficient for that purpose to-wit:
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Year
1984
1985
1986
198?
1988
1989
1990
1991
1992
1993
Amount
$ 401,400
401,400
401,400
401,400
451,400
446,650
441,900
437,150
432,400
427,650
Year
1994
1995
1996
1997
1998
1999
z000
2001
2002
2003
RESOLUTION # 8
Amount
$572,900
553,500
684,100
650,150
690,850
648,350
630,425
584,525
538,175
441,600
In each oF said years from 1984 to 2003, inclusive, the direct annual tax
above levied shall be extended upon the tax rolls of the City in the same manner and
tim e as taxes for general city purposes, and w hen collected the proceeds of said taxes
shall be deposited into the account oF the debt service fund established in favor of the
Bonds, to be used solely for paying the principal of and interest on the Bonds as long as
any Bonds of the Bond remain outstanding.
Section 14. Sufficiency. Interest or principal maturing at any time during
the life of the Bonds w hen there shall be insufficient funds on hand from the above tax
levy to pay the same shall be paid promptly when due from the general fund of the City,
and said fund shall be reimbursed in a like amount out of the proceeds of taxes hereby
levied when the same shall have been collected.
Section 15. Debt Service Fund. There has been ordered to be established
in the City Treasury a fund separate and distinet fro m all other funds of the City of
Oshkosh to be designated the "Debt Service Fund," which fund shall be used solely for the
purpose of paying principal of and interest on m unicipal obligations issued pursuant to
Chapter 67, Wisconsin Statutes. There is hereby created and there shall be deposited in,
an account known as the "Series 1984 Sewer Hond Account" to be held as a part of the
Debt Service Fund, all premium and accrued interest paid on the Bonds at the time the
Bonds are delivered to the purchaser; all money raised by taxation pursuant to Section 13
hereof; and such other sums as may be necessary to pay interest on the Bonds when the
same shall become due and to retire the Bonds at their respective maturity dates.
Section 16. Severability. If any section, paragraph or provision of this
resolution shall be held to be invalid or unenforceable for any reason, the invalidity or
unenforceability or such section, paragraph or provision shall not affect any of the
remaining provisions of this resolution.
A:test:
Adopted November 1 , 1984.
Approved November 1 , 1984.
Iiecorded November 1 , 1984
City �i,lerk �
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1e'.��CONS��'�
RESOLUTION # 8
STATE OF WISCONSIN )
)
COUNTY OF WINNEBaGO )
!. Donna C. Serwas, hereby certify that I am the duly quslified and acting
City Clerk ot the City of Oshkosh. Wisconsin, and as such official Ifurther certify that
attached hereto is a copy of excerpts from the minutes of the meeting of the City Coun-
cil of said City held on November 1, 1984; that I have compared said copy with the
original minute record of said meeting in my officiel custody; and that said copy is a
!rue, correct and complete transcript from said original minute record insofar as said
original record relates to the proposed 54,000,000 Sewer Bonds, Series 1984, of said City,
dated November 1, 1984.
�VITNESS my official signature and the seal of said City this 2nd da�
of November , lggq, —�
� _. � � ;',,
City Clerk
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APPROVED
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