HomeMy WebLinkAbout32833 / 84-03� . ,.
The City Council of the City of Oshkosh, Winnebago County, Wisconsin,
met in special, open, public session at its regular meeting place on April 26, 1984, at 4:45
o'clock P.M., with the following members present:
and the following members absent:
a * s s
(Other business)
The Clerk stated that one purpose of the meeting was the consideration of
proposals received for the purchase of $1,950,000 Ccrporate Purpose Bonds, Series 1984
of the City of Oshkosh pursuant to sealed bids.
Thereupon the following resolution was introduced by
and was read in full, and pursuant to motion made by
and seconded by was adopted by the following vote:
Aye:
Nay:
SUBMITTED BY
;...� �
RESOLUTION determining to issue $1,960,000 Corpo-
rate Purpose Bonds, Series 198', of the City of Oshkosh,
Winnebago County, Wisconsin, providing details, pre-
scribing the form oF bond, awarding the bonds to the
highest bidder, and levying taxes.
WHEREAS, by initial resolutions duly adopted on April 5, 1984 after publi-
cation of same as a Class 2 notice, there have been authorized to be issued bonds of the
City of Oshkosh (the "City") for the public purpose projects as follows:
5704,000 for the purpose of construeting and extending the water
plant and water mains;
$260,000 for the purpose of providing street improvements;
E95,000 for the purpose of providing and improving public parks;
$645,000 for the purpose of improving and extending the sanitary
sewer system;
$98,000 for the purpose of improving and extending the storm sewer
system;
$147,000 for the purpose of acquiring and developing sites for indus-
trial parks;
$11,000 for the purpose of providing financial assistance to a com-
munity development project undertaken pursuant to Section 66.46,
Wisconsin Statutes;
and
WHEREAS, it is now necessary that bonds be sold and issued for the pur-
poses aforesaid in the aggregate principal amount of $1,960,000; and
WHEREAS, the City is authorized by Section 67.05(13), Wisconsin Statutes,
to combine bonds authorized under various initial resolutions into one issue; and
WHEREAS, pursuant to advertisement, sealed bids were received for the
purehase of corporate purpose bonds in said amount until 11:00 A.M., C.S.T. on April 26,
1984, which bids are as follovrs:
Name of Bidder Net Interest Rate
Northern Trust Co., Chicago, ILL 9.44544
First National Bank of Chicago, Chicago, ILL 9.52638
LaSalle National Bank, Chicago, ILL 9.58794
Cont3nental Illinois National Bank
& Trust Co., Chicago, Ill. 9.590041
First Wis. National Bank of Milwaukee,
Milwaukee, WI 9.6426
Harris Trust & Savings Bank, Chicago, ILL 9.8353
; and
WHEREAS, the bid of Northern Trust Co. �
of Chicago , Illinois and
associates at a price of par plus accrued interest to the date of delivery, wns the best bid
submitted, which bid is as follows:
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BID FORM
MEM1ER5 OF TftE CITY COUNCIL
CITY OF OSHKOSH, WISCONSIN
April 26, 1984
We offer [o purchase the $1,950,000 Corpora[e Purpose Boods, Series
1984, of the Ci[y of Oshkosh, Wisconsin Co be da[ed May 1, 1984 and
offered for sale on [he above date, on che terms and condi[ions sCa[ed in
the Officipl Notice of�ySale and the Official Statement therefor, for a
price of Y/ 960 0.2c-� (not less than $1,960,000), and accrued
inierest [o dat of delivery. The bonds of the various maturities to
bear interest at [he following annual ra[es:
g. y� X for bonds due May 1, 19 i� thzough May 1,
,Y �C 2 for bonds due May 1, 19� through May 1,
y,3c X for bonds due May 1, 19� [hrough May 1,
�j.�� % for boads due May 1, 19q_2 through May 1,
9.� � X for bonds due May 1, 19� through May 1,
q.p'p % for bonds due May 1, 19�� [hrough May 1,
y.�/O X for bonds due May 1, �,�ao [hrough Mlay 1,
°L for bonds due May 1, 19 through tiay 1,
X for bonds due May L, 19 [hrough May 1,
X for bonds due May 1, 19 through Atay 1,
+Z for 6onds due May 1, 19� [hrough May 1,
_X for bonds due May 1, 19_ through Hay 1,
19�
19�
19
19
19�
19
19
19
19
19
19
19_
Our cemputation of the toCal amount of in[erest from da[e of issue to
matuxity represented by [he interest ra[es specified above, and of the
net in[erest cost of this bid, while not a part of [his bid, 2re set
forth below. �
This bid is made for prompt accep[ance and subjec[ [o [he condi[ions
of [he Official Notice of Sale. We enclose, herewi[h, our cashier's or
certified check or bank draf[, i❑ [he amoun[ of $39,200, which is to be
held by [he City pending compliance wi[h the conditions of this bid.
Respectfully submitted,
THE NORTHER!V TRUST COMPANY
Syndicate Tlanager
___���,-���.�
�y STEVEN C. BRO"Vv'N
Second Vice President
Interes[ Compu[a[ion
We compute tbe total amount of interest from da[e of issue to
mat�ri[y, reprearnted by [he ineeres[ rates specified in fhe bid, to
be /�/$i�3'7o��for a �e[ Ra[e of %�� bH� �.
The foregoing bid is hereby accepted by and on behalf of the City of
Oshkosh, k'isconsin [his 26th day of April, 1984.
Ci[y Afanager
Director oL FinancelTreasurer
THE NORTHERN TRUST COMPANY - Manager
CHEMICAL BANY.
IV:ER FIRST BANK DALLAS, N.A.
DAIV, BOSWORTH, INC.
YIPER, JAFFRAY & HOPWOOD, INC.
THE FIRST NATIONAL BANK OF ST. PAUL
5EATTLE - FIRST NATIONAL BANK
FIRST OF MICHIGAN CORPOATION
BECKER & COWNIE, INC.
CHANNER NEWMAN SECURITIES CO.
FERRIS 5 COMPANY, INC.
THE HEITNER CORPORATION
PclRKER/HUNTER INCORPORATEQ
SAUER'�IADI SECURITIES, ZNC.
SEATTLE - NORTHWEST SECURITIES CORP.
rl. F. STEPP.INVESTMENTS, TNC.
SU:IMERS & COMPANY, INC.
tiVIBANC TRUST COMPANY
L'NITED STATES NATIONAL BANK OF OREGON
- IN ASSOCIATION WITH -
NORWEST SECURITIES )Joint
THE FIRST NATIONAL BA;�IK AND TRUST CO6IPANY OF OKLAHOMA CITY )
SLYTH, EASTMAN, PAINE, WEBBER INCORPORATED )Managers
i fiE CHICAGO CORPORP.TION
CENTERRE BANK, N.A.
NOW, THEREFORE, Be It Resolved by the City Council of the City of
Oshkosh, Winnebago County, Wisconsin, as follows:
Section 1. 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 Corporate Purpose 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 Wisconsin 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 2. Authorization. The issuance of $1,960,000 aggregate principal
amount of corporate purpose bonds is hereby authorized for the purpose of providing
funds in the amounts and for the projects set out in the preamble hereto. The Bonds shall
be designated "Corporate Purpose Bonds, Series 1984," shall be dated May 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 May 1 of
each of the years 1985 to 2000, inclusive, in the amounts and shall bear interest at the
rates per annum, as follows:
Year
1985
1986
1987
1988
1989
1990
1991
1992
Interest
Amount Rate Year
$ 35,000
75,000
75,000
?5>000
100,000
100,000
100,000
100,000
. .
.
.
. .
. ,
.
.
.
0
1993
1994
1995
1996
1997
1998
1999
2000
Amount
$100,000
100,000
100,000
200,000
200,000
200,000
200,000
200,000
Interest
Rate
8.9
9.1
9.1
9.3
9,5
9.7
9,8
9.9
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Section 3. Interest; Payment Provisions. The Bonds shall bear interest
fro m their date or fro m the most recent interest payment date to w hich 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
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May and November of each year, commencing on May 1, 1985. Interest on each Bond
shall be paid by check or draft of the RegisYrar to the person in whose name such Bond is
registered at the elose 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 4. Execution; 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. In case any officer whose signature shall appear on any Bond
shall cease to be such officer before the delivery of such Bond, such signature shall
nevertheless be valid and sufficient for all purposes, the same as if such officer had
remained in office until delivery.
All Bonds shali have thereon a certificate of authentication sub�tantially 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 Regis;rar 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 5. Registration of Bonds; Persons 1�eated 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 accompanied by a
written instrument or instr�ments of transfer in form satisfactory to the Registrar duly
executed by, the registered owner or his attorney duly authorized in writing, the City
shall execute and the Registrar shall authenticate, date and deliver in the name of the
transferee or transferees a new fully registered Bond o: Bonds of the same maturi;y 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 Bond 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 Qond 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,
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.
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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 conneetion 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 s�;rrendered for redemption.
Section 6. Prior Redemption. Bonds maturing on and after May 1, 1999
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 singie maturity
to be selected by the Registrar), on May 1, 1998 and on any interest payment date there-
after, at the redemption price of par plus accrued interest to the date fixed for redemp-
tion.
The Bonds shall be redeemed only in the principal amount of $5,000 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 prineipal 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 $5,000 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 7. Redemption Procedure. Unless waived by any holder of Bonds
to be redeemed, notice of the cali 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 red�mp-
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 sha;l state:
(1) the redemption date,
(2) the redemption price,
(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 wiil become due and
payable upon each sueh 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, :,�hich place of payment shall be the principal corporate trust
office of the Registrar.
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pus asa�s�.�aa se 'u�suoosiiy 'aa�nsml!1N `�usdwo� ;snay u�suooscM asa�3 ay3 ,�o ao�,�30
�sna� a�eaodao� jedcoucad ayl la puog scy� ;o aapuaaans pus uo�le;uasaad uodn sacaaw�r �o
sa;s;g pa�iun ay� }o ,Cauom jn;mei u� a�qe.ted si puop s�y; ;o Isdi�uwd ayy
•o�aaay alqa�
-��dde awooaq pue aq faw uoi;du�apa� o� ��adsaa y��m y3ao; �as aa;3euiaaay suocsinoad
ay; ss xdaaxa 'p�8d sc wns jedioucad p;ss i��un ' gT `T 2u��uawutoo 'JSa�C
y�ua 3o T aaqwanoN pus t �Ssyq ao y;ao; ;as anoqeuiaaay u�nuue aad ;saaa�u1 3o a;eg ai�l
�e pisd uaaq sey �sasa�ui u�iyn� o; a3Bp ;uawfad �saaa;ui ;ua�aa ;socu ay� woa3 ao puog
s�y; ;o a;ap ay; woa3 �unowe isd�ouiad y�ns uo (sy�uow 6ep-p£ aniam; 3o asa�S �Ssp-09E
a�o siseq ay� uo pa�ndwo�) �saaa;u� ,C�d o; pus pai3�;uap[ anoqeu�aaay �vnowy Ied�ouiad
ay� 'pa��t;uapt anoqsu[aJaq a�sQ �f��sn�sy� atl; uo 'paprno�d aa��su�aaau sB su�issa paaal
-sc2aa ao °pa�3t�uap� anoqsu�aaay aaump paaa�s�.�ag ay; o� �Cad o� sasimoad paniaaaa anisn
ao; pue ax�o ol 3las;[ sa�patn�ou�{ae �Sqaaaq '(„�Cat�„ au�) ucsuoascM �o9eqauucM ;o �C�uno�
ay� u� 'ysoKysp �o �S;i� ay� ;syy :g,I,HgS�2Id �S�H,L dfl N�6V 'I'I� MONA
6i `T ��b1i
�unowy te i�u�ad aau,Hp paaa�si ag a3eQ Isn Q� �/� ;saaa;ul
3� aiE2I
Y86i sa�aas'puog asal.rnd aas�od.ro�
i�so�sp;o �C1i�
o2sqaua�ry ;o �C�uno�
a[suo�s�M do alBi5
eotiam�r ;o sa;elS PalS�f]
(PuoB ;o wao3)
:uoc;ntosag s�q; !q paa�nbaa ao pa;��w
-aad sa suoc�aasus pue suocssimo �S[IOi�EISBA 2�ElSdOJCIdE pus 6aessa�au y�iM smao; Sui
-�noTio; ay� fitei�us;sqns ui aq o� Iis aas ;uamu3}ssa 3o wao; ay� pus uoa�ay; pasaopua aq
o; po��s�«uaylne �o a;soi,}�laa� aq; 'spuog ayy •spaog �o uisog •g uo�;aas
•panss�aa aq �ou iisys pue asals��a� aq� fq pafoa�sap pus paita�ue�
aq jisys pawaapa� �aaq anay q�iqm spuog iitl 'IEdcouiad ptedun au; �o �unowa at{� ui l��i
-an;aw auiss ay� �o spuo8 ao puog mau s a-�umo pa�a�sc�aa ay; ao3 paasdaJd aq tieys aaay;
'puog £us ;o uoc�dwapaa jei;aed dus ao3 aapuaaans uodn •�sa�aaut ;o ;uatudsd .�o; papin
-oad u�aaaq se aiqsl+sd aq iisys a;gp uoi;dwapaa ay; o; aocad ao uo anp lsaaa�u� ;o sivaw
-TTgasu� •a��ad uo�;dwapaa ayl �a asa;sc�a� ay; �Cq pcad aq itays spuog y�ns `a�i�ou p�es
y;i.�+ a�uspaoo�s ui uo«dwapa,t ao� spuog q�ns ,{o aapuaaans uodn •;saaa�ui asaq o; asaa�
�Isqs spuog ;o suot�aod ao spuog y�ns (aocad uoi;dwapa� aq; }o ;uam�Ssd aq� u� lTne;ap
iiays l�i� ay; ssaiun) a;ep y�ns aa�;s pus iuoa; pus 'pa�;c�ads ucaaay; a�wd uoc�dmapaa
ay� ;e aiqslad pus anp awo�aq 'a�ep uoi�dmapaa ay� uo 'jisys pawaapaa aq ol os spuog ;o
suo�laod ao spuog ayl `p�esaao3s se uani� uaaq �u�nay uoi;du�apaa }o ao[�ox
•a�ep �ay� uo pawaapaa aq o; aas ya�qM spuog
;o suoilaod ao spuo8 aql iig 3o a�cad uot�dwapaa ay; �Sed o; ;uaco�;;ns �Cauow ;o ;unowe
us asa�s�3ag aql q�«n �isodap Iisys �i;[� ay� 'alep uo[;dwapaa �Cus o� ao�ad
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 pay ment date and shall 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 m ay be furnished in writing by such registered
owner to the Registrar.
Reference is hereby m ade 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 presccibed 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.
[N 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
its City Clerk and its official seal or a facsimile thereof to be impressed or reproduced
hereon, as of the first day oF , 198
(facsimile signature)
City Clerk
[SEAL]
�
(facsimile signature)
City Manager
CERTIF[CATE OF AUTHENTICATION
This Bond is one of the Bonds described in the within mentioned Resolution
and is one of the Corporate Purpose Bonds, Series 1984 of the City of Oshkosh,
Wisconsin.
Date of Authentication:
First Wisconsin Trust Company,
as Bond Registrar
By
Authorized Officer
[Form of Bond - Reverse Side]
This Bond is one of an authorized issue of Bonds aggregating the principal
amount of $1,960,000 (the "Bonds") issued to pay the cost of providing public projects in
the amounts and for the purposes as follows:
$704,000 for the purpose of constructing and extending the water
plant and water mains;
$260,000 for the purpose of providing street improvements;
$95,000 for the purpose of providing and improving public parks;
$645,000 for the purpose of improving and extending the sanitary
sewer system;
598,000 for the purpose of improving and extending the storm sewer
syste m;
$147,000 for the purpose of acquiring and developing sites for indus-
trial parks;
$11,000 for the purpose of providing financial assistance to a com-
munity development project undertaken pursuant to Section 66.46,
Wisconsin Statutes;
pursuant to and in all respects in compliance with Chapter 67 of the Wisconsin Statutes
and a resolution adopted by the City Council of said City on April 26, 1984.
Bonds of the issue of which this Bond is one maturing on and after May 1,
1999 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 6iay 1, 1998 and on any inYerest payment date thereafter,
at the redemption price of par plus accrued interest to the date fixed for redemption.
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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.
When so called for redemption, 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
payment 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 multiples 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 denominations, 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 9. Sale of Bonds. The sale of the Bonds to
Nnrtharn Tr���r Co Chicago� Illinois, and Associates, at the price of
par plus accrued interest to the date of delivery is hereby confirmed. The City Treasurer
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is hereby authorized to deliver the Bonds to said purchasers upon pay ment of the pur-
chase price.
Section 10. 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.
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 taxation under lasvs in force at the time
the Bonds shall have b?en 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. Sueh 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 erpec-
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 11. Duties of Registrar. If requested by the Registrar, the City
Manager is authorized 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 shall include the following:
(a) 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
earlier redemption or submitted For exchange or transfer;
(d) to furnish the City at least annually a certificate of destruction with
respect to Bonds cancelled and destroyed; and
(e) to furnish the City at least annually an audit confirmation of Bonds
paid, Bonds outstanding and payments made with respect to interest on the Bonds.
-11- �
Section 12. Taa Levy. In order to provide for the collection of a direct
annusl 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:
Year
1984
1985
1986
1987
1988
1989
1990
1991
Amount
$306,802.50
250,787.50
2G4,112.50
237,437.50
254,650,00
245,750.00
236,850.00
227,950.00
Year
1992
1993
1994
1995
1996
1997
1998
1999
Amount
$ 219,050
210,050
200,950
28?,1C0
268,300
249,100
224,600
209,900
In each of said years from 1984 to 1999, inclusive, the direct annual tax
above levied shall be extended upon the tax rolls of the City in the same manner and
time as taxes for general city purposes, and when collected the proceeds of said taxes
shall be deposited into the aceount 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 13. Suffieiency. Interest or principal maturing at any time during
the life of the Bonds when 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 14. Debt Service Fund. There has been ordered to be established
in the City Treasury a fund separate and distinet from all other funds of the City of
Oshkosh to be designated the "Debt Service Fund," which fund shali be used solely for the
purpose of paying principal of and interest on m unicipal obligations issued pursuant to
Chapter 6?, Wisconsin Statutes. There is hereby created and there shall be deposited in,
an account known as the "Series 1984 Corporate Purpose Bond 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 rnoney raised by taxation pursuant to
Section 12 hereof; and such othec sums as may be necessary to pay interest on the Bonds
when the same shall become due and to retire the Bonds at their resp.ective maturity
dates.
Seetion 15. Prior Action. The action of this City Council in introducing
and adopting the initisl resolutions authorizing issuance of bonds of the City for the
public purposes aforesaid and the publication of sa me as a Class 2 notice, all as required
by pertinent sections of the Wisconsin Statutes then in force, is hereby in all respects
ratified and confirmed.
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
-12-
unenforceability or such section, paragraph oe provision shall not affect any of the
remaining provisions of this resolution.
Adopted
1984.
Approved , 1984.
Recorded ,1984
%�,u'�c�� `%'/l. /Z .o�.�
Mayor �
Attest:
ty Clerk
.
�,; -13-
STATE OF WISCON5IN
COUNTY OF WINNEBAGO
I, Donna C. Serwas, hereby certify that I am the duly qualified and acting
City Cierk of the City of Oshkosh, Wisconsin, and as such ofiicial I further 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 April 26, 1984; that t have compared said copy with the original
minute record of said meeting in my official custody; and that said copy is a true, cor-
rect and complete transcript from said original minute record insofar as said original
record relates to the proposed $1,960,000 Corporate Purpose Bonds, Series 1984, of said
City, dated May 1, 1984.
WITNESS my official signature and the seal of said City this day
of , 1984.
City Clerk
(SEAL)
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