HomeMy WebLinkAbout32316 / 83-22a
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The City Council of the City of Oshkosh, Wisconsin met in
regular open, public session at its regular meeting place on
March 3, 1983, at o'elock _.M., with the following
members present:
Absent:
* * �
(Other business)
The following initial resolution offered and read on
February 17, 1983 was again read in full:
INITIAL RESOLUTION authorizing
not exceeding 23%,000 bonds
of the City of Oshkosh.
BE IT RESOLVED by the City Council of the City of Oshkosh,
Winnebago County, Wisconsin, that there shall be issued the
general obligation bonds of said City in the principal amount
of not exceeding $237,000 for the purpose of constructing and
extending the water plant and water mains of said City. For
the purpose of paying the various installments of principal
��
and interest on said bonds as they severally mature, there is
hereby levied on all taxable property in said City a direct
annual irrepealable tax sufficient for that purpose.
Approved
, 1983. �
� /\
Mayor
Recorded , 1983.
It was moved by
City Clerk
and seconded by
that said resolution be adopted. Upon
roll being called, the following voted:
Aye:
Nay:
The following initial resolution offered and read on
February 17, 1983 was again read in full:
INITIAL RESOLUTION authorizing
not exceeding 193,000 bonds
of the City o£ Oshkosh.
BE IT RESOLVED by the City Council of the City of Oshkosh,
Winnebago County, Wisconsin, that there shall be issued the
general obligation bonds of said City in the principal amount of
not exceeding $193,000 for the purpose of providing street improve-
ments in said City. For the purpose of paying the various install-
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. �
ments of principal and interest on said bonds as they severally
mature, there is hereby levied on all taxable property in said
City a direct annual irrepealable tax sufficient for that purpose.
Approved , 1983•
Recorded
It was moved by
, 1983.
<���Z�
Mayor
City Clerk
and seconded by
that said resolution be adopted. Upon
roll being called, the following voted:
Aye:
Nay:
The following initial resolution offered and read on
February 17, 1983 was again read in full:
INITIAL RESOLUTION authorizing
not exceeding 130,000 bonds
of the City of Oshkosh.
BE IT RESOLVED by the City Council of the City of Oshkosh,
Winnebago County, Wisconsin, that there shall be issued the
general obligation bonds of said City in the principal amount of
not exceeding $130,000 for the purpose of providing and improving
-3-
,
public parks of said City. For the purpose of paying the various
installments of principal and interest on said bonds as they
severally mature, there is hereby levied on all taxable property
in said City a direct annual irrepealable tax sufficient for
that purpose.
Approved , 1983. l� t T-
\J L.., �
Mayor
Recorded , 1983.
It was moved by
City Clerk
and seconded by
that said resolution be adopted. Upon
roll being called, the following voted:
Aye:
Nay:
The following initial resolution offered and read on
February 17, 1983 was again read in full:
INITIAL RESOLUTION authorizing
not exceeding 2 ,000 bonds
of the City of Oshkosh.
BE IT RESOLVED by the City Council of the City of Oshkosh,
Winnebago County, Wisconsin, that there shall be issued the
general obligation bonds of said City in the principal amount of
-4-
.
not exceeding $244,000 for the purpose of improving and extending
the sanitary sewer system of said City. For the purpose of
paying the various installments of principal and interest on
said bonds as they severally mature, there is hereby levied on
all taxable property in said City a direct annual irrepealable
tax sufficient for that purpose.
Approved , 1983•
Recorded
It was moved by
, 1983.
���,�t�st� 4
Mayor
City Clerk
and seconded by
that said resolution be adopted. Upon
roll being called, the following voted:
Aye:
Nay:
The following initial resolution offered and read on
February 17, 1983 was again read in full.
INITIAL RESOLUTION authorizing
not exceeding 370,000 bonds
of the City of Oshkosh.
BE IT RESOLVED by the City Council of the City of Oshkosh,
Winnebago County, Wisconsin, that there shall be issued the
-5-
general obligation bonds of said City in the principal amount of
not exceeding $370,000 for the purpose of creating a revolving
fund out of which to advance the costs of work for which special
assessments may be levied by said City, in anticipation of the
collection by the City Treasurer of special assessments, special
improvement certificates, special improvement bonds, contractor's
certificates, general obligation - local improvement bonds or
special assessment B bonds made or issued for the cost thereof.
For the purpose of paying the various installments of principal
and interest on said bonds as they severally mature, there is
hereby levied on all taxable property in said City a direct
annual irrepealable tax sufficient for that purpose.
Approved , 1983• �
Mayor
Recorded , 1983.
It was moved by
ity Cle
and seconded by
that said resolution be adopted. Upon
roll being called, the following voted:
Aye:
Nay:
�
The following initial resolution offered and read on
February 1%, 1983 was again read in full:
INITIAL RESOLUTION authorizing
not exceeding 1 ,000 bonds
of the City of Oshkosh.
BE IT RESOLVED by the City Council of the City of Oshkosh,
Winnebago County, Wisconsin, that there shall be issued the
general obligation bonds of said City in the principal amount of
not exceeding $166,000 for the purpose of acquiring and developing
sites for industrial parks in said City. For the purpose of
paying the various installments of principal and interest on
said bonds as they severally mature, there is hereby levied on
all taxable property in said City a direct annual irrepealable
tax sufficient for that purpose.
Approved , 1983• /\��� �
�
Mayor
Recorded , 1983•
It was moved by
ty Cle
and seconded by
that said resolution be adopted. Upon
roll being called, the following voted:
Aye:
Nay:
-7-
The following resolution was thereupon introduced and
read in full:
RESOLUTION providing details of
1,3 0,000 Corporate Purpose Bonds
of the City of Oshkosh and directing
the sale thereof.
WHEREAS by initial resolutions duly adopted on March 3,
1983, there have been authorized to be issued bonds of the City
of Oshkosh (the "City") in the amounts and for the purposes as
follows:
and
$237,000 for the purpose of construeting and extending
the water plant and water mains;
$193,000 £or the purpose of providing street improvements;
$130,000 £or the purpose of providing and improving public
parks;
$244,000 for the purpose of improving and extending the
sanitary sewer system;
$370,000 for the purpose of creating a revolving fund out
of which to advance the costs of work for whieh special
assessments may be levied;
$166,000 for the purpose of acquiring and developing sites
for industrial parks;
WHEREAS it is now necessary that bonds be sold and issued
for the purposes aforesaid in the total principal amount of
$1,340,000; and
WHEREAS the City is authorized by Section 67.05(13),
Wisconsin Statutes, to combine bonds authorized under various
initial resolutions into one issue:
NOW, THEREFORE, Be It Resolved by the City Council of the
City of Oshkosh, Winnebago County, Wisconsin, as follows:
Section 1. The bonds authorized by the initial resolutions
adopted by this City Council on March 3, 1983, and referred to
in the preamble hereto, shall be sold and issued as a single issue
in the principal amount of $1,3�+0,000 to be designated "Corporate
��m
�
Purpose Bonds, Series 1983" (the "Bonds"), shall be dated May 1,
1983, shall be in the denomination of $5,000 each or such multiple
thereof as may be requested by the purchaser thereof, and shall
mature serially in numerical order on May 1 of each of the years
1984 to 1995, inclusive, as follows:
Year
198�+
1985
1986
1987
1988
1989
1990
1991
Amount
$ uo,000
75,000
75,000
75,000
75,000
75,000
75,000
75,000
Year
1992
1993
199u
1995
1996
1997
1998
1999
Amount
� 75,000
loo,000
ioo,000
ioo,000
loo,000
100,000
ioo,000
ioo,000
Bonds maturing on and after May 1, 1996 shall be subject to
redemption prior to maturity at the option of the city as a whole,
or in part in inverse order of maturity within a maturity by lot,
on May 1, 1996 and on any interest payment date thereafter, at the
principal amount thereof and accrued interest to the date fixed for
redemption.
Notice of any intended redemption shall be given by publication
o£ an appropriate notice one time in a financial newspaper or journal
published in New York, New York, or Chicago, Illinois, and by regis-
tered mail to the bank or banks at which said bonds are payable.
All such notices shall be given not less than 30 days prior to
the date fixed for redemption.
The Bonds shall bear interest at a rate or rates to be
hereafter determined, payable on May 1, 1984, and semiannually
thereafter on May 1 and November 1 of each year, and shall be
signed by the City Manager with his facsimile signature, and by
the City Clerk, and sealed with the corporate seal of the City.
Interest upon the Bonds shall be evidenced by coupons thereto
attached, such coupons to be signed by said City Manager and
City Clerk with their respective facsimile signatures, and said
S�
officers shall, by the executlon of the Bonds, adopt as and for
their own official signatures their respeciive facsimile signatures
appearing upon said coupons. The Bonds shall be payable, both
principal and interest, in lawful money of the United States of
America at a bank or banks, not exceeding two, to be designated
by the purchaser of the Bonds.
Section 2. The Bonds shall be registrable as to principal
in the manner and with the effect provided in the form of Bond
hereinafter set out,
Section 3. The Bonds and coupons shall be in substantially
the following form, the omissions to be appropriately completed
when the Bonds are printed:
(Form of Bond)
UNITED STATES OF AMERICA
STATE OF WISCONSIN
COUNTY OF WINNEBAGO
CITY OF OSHKOSH
CORPORATE PURPOSE BOND, SERIES 1983
Statement of the value of all the taxable
property in said City o£ Oshkosh according to
the last preceding assessment thereof for state
and county taxes, as equalized by the State of
Wisconsin Department of Revenue, being for the
yea r 19_ . . . . . . . . . . . . . . . . . . . . . $
Aggregate amount of existing bonded indebt-
edness of said city, including this issue .....$
No.
�
KNOW ALL MEN BY THESE PRESENTS: That the City of Oshkosh,
(the "City") in the County of Winnebago and State of Wisconsin,
hereby acknowledges itsel£ to owe, and for value received promises
to pay to bearer, or to the registered holder if this bond shall
then be registered as to principal, the principal sum of
-10-
Thousand Dollars ($ ) on the first day of May, 19_, with
interest at the rate of
per cent ( �) per annum from the date hereof until the
principal amount shall have been fully paid, such interest being
payable May 1, 1984, and semiannually thereafter on May 1 and
November 1 of each year, interest to maturity being payable only
upon presentation and surrender of the interest coupons attached
hereto as they severally mature. Both principal hereof and
interest hereon are hereby made payable in lawful money of
the United States of America at
, , or at
, , at the option of the holder. For
the prompt payment of this bond with interest hereon as aforesaid
and for the levy of taxes sufficient for that purpose, the full
faith, credit and resources of the City are hereby irrevocably
pledged.
,
,
Bonds of the issue of which this bond is one maturing on and
after May 1, 1996 are subject to redemption prior to maturity at the
option of the city as a whole, or in part in inverse order of maturity
and within a maturity by lot, on May 1, 1995 and on any interest pay-
ment date therea£ter at the principal amount thereof and accrued
interest to the date fixed for redemption.
Notice of any intended redemption shall be given by publica-
tion of an appropriate notice one time in a financial newspaper or
journal published in New York, New York, or Chicago, Illinois, and
by registered mail to the bank at which said bonds are payable. Al1
such notices shall be given not less than 30 days prior to the
date fixed for redemption.
This bond is one of an issue of $1,340,000 issued for the
purpose of providing funds in the amounts and for the purposes
as follows:
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$237,000 for the purpose of constructing and extending
the water plant and water mains;
$193,000 for the purpose of providing street improvements;
$130,000 for the purpose of providing and improving public
parks;
$244,000 £or the purpose of improving and extending the
sanitary sewer system;
$370,000 for the purpose of creating a revolving fund out
of which to advance the costs of work for which special
assessments may be levied;
�166,000 for the purpose of acquiring and developing sites
for industriai parks;
pursuant to and in all respects in compliance with Chapter 67
of the Wisconsin Statutes and acts supplemental thereto, and a
resolution duly adopted by the City Council of the City on
March 3, 1983.
This bond is reglstrable as to principal in accordance
with the provisions endorsed on the reverse side hereof.
It is hereby certified and recited that all conditions,
things and acts required by law to exist, to be or to be done,
precedent to and in the issuance of this bond and the issue of
which it is a part, have been, have existed, and have been
performed ln due form and time as required by law; that the
indebtedness of the City, including this bond, does not exceed
any limitation imposed by law; and that the 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.
IN WITNESS WHEREOF the City of Oshkosh, by its City Council,
has caused this bond to be signed by its City Manager with his
facsimile signature, and by its City Clerk, and its corporate seal
to be impressed or imprinted hereon, and the coupons hereto attached
to be signed by said City Manager and City Clerk with their respective
facsimile signatures, and said officers, by the execution of this
-12-
bond, do adopt as and for their own official signatures their
respective facsimile signatures appearing on said coupons, as of
the first day of May, 1983.
(facsimile signature)
ity Clerk City Manager
(Form of Coupon)
No. $
On the first day of , 19_, unless the bond to which
this coupon is appurtenant is subject to prior redemption and shall
have been called for prior redemption and provision for the payment
thereof duly made, the City of Oshkosh, Wisconsin, will pay to
bearer the amount shown hereon in lawful money of the United
States of America at
, , or at
,
,
, at the option of the holder, upon
presentation and surrender of this coupon for interest due that
day on its Corporate Purpose Bond, Series 1983, dated May 1, 1983,
No. .
(facsiimile signature) (facsimile signature)
City Clerk City Manager
(Provision for Registration)
The within Bond may be registered in the name of the
holder as to principal only on books to be kept by the City Clerk
of the City of Oshkosh, as Bond Registrar, such registration to
be noted hereon in the registration blank below, after which no
transfer shall be valid unless made on said books at the request
of the registered holder or his attorney thereunto duly authorized
and similarly noted in said registration blank below, but this
Bond may be discharged £rom registration by being transferred to
bearer, after which it shall be transferable by delivery but may
be again registered as before. Such registration shall not impair
the negotiability by delivery of the coupons attached to this Bond.
-13-
Date of . Name of . Address of . Signature
Registration : Registered Holder : Registered Holder : of Registrar
Section �. The Bonds shall be sold at public sale in the
manner provided by law on or about April 21, 1983• Notice of
the sale of the Bonds shall be published once in the official
city newspaper, and in The Bond Buyer, published in New York,
New York. Such publication shall be at least 10 days prior to
the sale date and shall be in substantially the form provided in
Exhibit "A" attached hereto.
Section 5• When the Bonds shall have been sold, this
City Council will adopt proceedings so as to award the Bonds,
fix the interest rates thereon in accordance with the bid accepted,
and levy taxes to meet principal and interest thereon at maturity
as required by law.
Section 6. The proceeds received from the sale of the
Bonds shall be deposited in a special fund and used solely for
the aforesaid purposes for which the Bonds were authorized. 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 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 completion of the facilities
for which the Bonds are herein authorized to be issued. The
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.
• i
Director of Administration, the Clerk and the Treasurer of the
City, or any of them, are hereby authorized to execute on behalf
of the City an Arbitrage Certi£icate to assure the purchasers
and holders of the Bonds that the proceeds o£ 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, or the regulations of
the United States Treasury Department currently in ef£ect or
proposed. Such Arbitrage Certificate shall constitute a repre-
sentation 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 expectations prescribed by said
Arbitrage Certificate.
Adopted March 3, 1983•
Recorded , 1983.
Motion was made by
City Clerk
that said
resolution be adopted, and said motion was seconded by
. After due consideration, the Mayor put
the question, and upon roll being called, the following voted;
Aye:
Nay:
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.
;
The Mayor thereupon declared said resolution duly adopted.
� * *
(Other business)
There being no furthec business to come before the City
Council it was moved by , seconded by
, and unamimously carried that the
City Council adjourn.
Approved , 1983.
ATTEST:
City Clerk
-i6-
Mayor
.
.�
STATE OF WISCONSIN )
) SS:
COUNTY OF WINNEGABO )
I, DONALD C. LUEBKE, hereby certify that I am the duly
qualified and acting City Clerk of the City of Oshkosh, Wisconsin,
and as such official I further certify that attached hereto is a
copy of excerpts from the minutes of the meeting of the City
Council of said City held on March 3, 1983 that I have compared
said copy with the original minute record of said meeting in my
official custody; and that said copy is a true, correct and said
original record relates to the proposed $1,340,000 Corporate
Purpose Bonds, Series 1983 of said City.
WITNESS my official signature and the seal of said City
this day of , 1983•
(S E A L)
City Clerk
. ,
� ` _ °,,,-.
EXHIBIT A
to
Resolution of March 3, 1983
$1,3�0,000
CITY OF OSHKOSH, WINNEBAGO COUNTY, WISCONSIN
CORPORATE PURPOSE BONDS, SERIES i983
SEALED BIDS for the above bonds will be received until 11:00
A.M., C.S.T, on April 21, 1983, in the City Hall in the City of
Oshkosh. The bonds are general obligations of the City issued for
the purpose of providing funds in the amounts and for the purposes
as follows: $237,000 for the purpose of constructing and extending
the water plant and water mains; $193,000 for the purpose of providing
street improvements; $130,000 for the purpose of providing and
improving public parks; $370,000 for tlie purpose of creating a
revolving fund for advancing the cost of special assessment projects;
$166,000 for the purpose of acquiring and developing sites for
industrial parks; and $2�+4,000 £or the purpose of improving and
extending the sanitary sewer sytem.
The bonds are dated May 1, 1983, and will mature on May 1
of each year as follows:
Year Amount
1984 $ 40,000
1985-1992 75,000
1993-1999 100,000
Interest will be payable May 1, 1984, and semiannually thereafter.
Bonds maturing May 1, 1996, and thereafter are callable in inverse
order of maturity on May 1, 1995, and semiannually thereafter at par.
The City will provide at its expense the printed bonds and
the unqualified legal opinion of Chapman and Cutler. The Offi—
cial Statement, Official Notice of Sale and Bid Form may be
obtained from the undersigned, or from Miller & Schroeder Muni—
�- . ','`-
cipals, Inc., Northwestern Financial Center, 7900 Xerxes Avenue
South, Minneapolis, Minnesota 55431, Attention: Ernest L. Clark,
Vice President, telephone (612) 831-1500
-2-
/s/ EDWARD NOKES
Director of Administration
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