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HomeMy WebLinkAbout31753-31759 / 82-13, 14, 15, 16, 17, 18, 19March 4, 1982 PURPOSE- INZTIATED BY: 1i 13 - 19 RESOLUTIONS INITIAL RESOLUTIONS RE: $3,465,000 CORPORATE PURPOSES BONDS, SERIES 1982 CITY ADMINZSTRATION Res. P 13 INITIAL RESOLUTION authorizing not exceeding $313,000 bonds of the City of Oshkosh for the purpose of improving and extending the storm sewer system of said City. - Bes. l� 14 Res. �f 15 Res. 0 16 xes. � 17 Res. �6 18 Res. � 19 INITIAL RESOLUTT_ON authorizing not exceeding $852,000 bonds of the Ci*yo uf Oshkovh fe_ th� perresa ef con�tructiag extea�ions to the water plant and water mains of said City. INITIAL RESOLUTION authorizing not exceeding $248,000 bonds of the City of Oshkosh for the purpose of providing street improvements in said City. INITIAL RESOLUTION authorizing not exceeding $105,000 bonds of the City of Oshkosh for the purpose of providing and im- proving public parks of said City. INITZAL RESOLUTION authorizing not exceeding $1,000,000 bonds of the City of Oshkosh for the purpose of constructing bridges in said City. INITI9L RESOLUTION authorizing not exceeding $894�000 bonds of the City of Oshkosh for the purpose of acquiring and developing sites for industrial parks in said City. INITIAL RESOLUTION authorizing not exceeding $53,000 bonds of the City of Oshkosh for the purpose of improving and extending the sani.tary sewer system of said City. 13 - 19 .`;uFCfii' ��7 EY �n,,:-:�'�: �:�r, �VV�'�// v � �u(�-u.^�"�.� � * , _ _ _ _ _ _ The City Council of the City of Oshkosh, Wisconsin met in regular open, public session at its regular meeting place on t4arch 4, 1982, at 7:00 o'clock P.M., with the following members present: - Council Members: Hulsebosch, Charles J. Mather, James /1. Propp, Kathleen M. Pung, Hobert E, Kutchera, Don H. �5) Absent: Council Members: Chapin, Floyd R. Teichmiller, Bernice * * * (Other business) (2) r The following initial resolution offered and read on February 18, 1982 was again read in full: INITIAL RESOLUTION authorizing not exceeding �313,000 bonds of the City of Oshkosh. BE IT RESOLVED by the City Council of the City of Oshkosh, Wisconsin, that there shall be issued the general obligation bonds of said City in the principal amount of not exceeding $313,000 for the purpose of improving and extending the storm sewer system of said City. For the purpose of paying the various installments of principal and interest on said bonds as e . . .. . . -. . _ ... �.�' .. I � �� . _ _ _ _ _ _ __ _ they severally mature, there is hereby levied on aIl taxable property in said City a direct annual irrepealable tax sufficient for that purpose. Approved March 4 , 1982. Recorded March 4 , �982• It was moved by Mayor City Clerk Propp and seconded by that said resolution be adopted. Upon roll being called, the following voted: 7 Aye: Hulsebosch, Mather, Propp, Pung, Kutchera �5) NBy: None The following initial resolution offered and read on February 18, 1982 was again read in full: INITTAL RESOLUTION authorizing not exceeding 2,000 bonds of the City of Oshkosh. BE IT RESOLVED by the City Council of the City of Oshkosh, Wisconsin, that there shall be issued the general obligation bonds of said City in the principal amount of not exceeding $852,000 for the purpose of constructing and extending the water plant and mains of said City. For the purpose of paying the various installments of principal and interest on said bonds as they severally mature, -2- � � � �_ _ , there is hereby levied on all taxable property in said City a direct annual irrepealable tax sufficient for that purpose. Approved March 4 , 1982. Recorded March 1+ , 1982. Mayor City Clerk It was moved by Mather and seconded by xulsebosch that said resolut;i.on be adopted. Upon roll being called, the following voted: Aye Nay: Hulsebosch, Mather, Propp, Pung, Yutchera PZone The following initial resolution offered and read on February 18, 1982 was again read in full: INITIAL RESOLUTION authorizing not exceeding 2 ,000 bonds of the City of Oshkosh. t BE IT RSSOLVED by the City Council of the City of Oshkosh, Wisconsin, that there shall be issued the general obligation bonds of said City in the principal amount of not exceeding $248,000 for the purpose of providing street improvements in said City. �'or the purpose of paying the various installments of principal and interest on said bonds as they severally mature, -3- , �: :� 5: there is hereby levied on all taxable property in said City a direct annual irrepealable tax sufficlent for that purpose. Approved y✓�arch 4 r 1�82• Recorded P.larch 4 > 198z• It was moved by Pun� yor City Clerk xulsebosch and seconded by that said resolution be adopted. Upon roll being called, the following voted: Aye: Hulsebosch, Mather, Propp, Pung, Kutchera Nay: None The following initial resolution offered and read on February 18, 1982 was again read in full: i5) s e INITIAL RESOLUTION authorizing not exceeding $105,000 bonds of the City of Oshkosh. BE IT RESOLVED by the City Council of the City of Oshkosh, Wisconsin, that there shall be issued the general obligation bonds of said City in the principal amount of nat exceeding $105,000 for the purpose of providing and improving public parks of said Gity. For the purpose of paying the various installments of principal and interest on said bonds as they severally mature, _t�_ I� _ ,... � , there is hereby levied on all taxable property in said City a direct annual irrepealable tax sufficient for that purpose. Approved March 4 , 1982• Recorded March 4 , 1982< Mayor City Clerk It was moved by Mather and seconded by Aulsebosch �hat said resolution be adopted. Upon roll being called, the following voted: pyg; Hulsebosch, Mather, Propp, Pung, Kutchera �5) i Nay: None The following initial resolution offered and read on February 18, 1982 was again read in full. INITIAL RESOLUTION authorizing not exceeding $1,000,000 bonds of the City of Oshkosh. BE IT RESOLVED by the City Council of the City of Oshkosh, Wisconsin, that there shall be issued the general obligation bonds of said City in trie principal amount of not exceeding $1,000,000 £or the purpose of constructing bridges in said City. For the purpose of paying the various installments of principal and interest on said bonds as they severally mature, there is -5- ��.-� _ _ . _ _ _ . _ _ hereby levied on all taxable property in said City a direct annual irrepealable tax sufs"icient for that purpose. Approved March 4, 1982• Recorded March 4, 1982• It was moved by Propp 19ayor City Clerk xulsebosch and seconded by that said resolution be adopted. Upon roll being called, the following voted: pye: Hulsebosch, Mather, Propp, Pung, Kutchera �5) r Nay: None The following initial resolution offered and read on February 18, 1982 was again read in full: INITIAL RESOLUTION authorizing not exceeding $894,000 bonds of the City of Oshkosh. BE IT RESOLVED by the City Council of the City of Oshkosh, Wisconsin, that there shall be issued the general obligation bonds of said City in the principal amount of not exceeding $894,000 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 mat-ure, there is hereby levied on all taxable propar�y in said City a direct annual irrepealable tax sufficient for that purpose. Approved March 4 , 1982• Recorded biarch 4 , 1982. blayor City Cle It was moved by Mather and seconded by Pung that said resolution be adopted. iipon roll being called, the following voted: pye; rulsebosch, Mather, Propp, Pung, Kutchera �5)r Nay: None The following initial resolution offered and read on February 18, 1982 was again read in full: INITIAL RESOLUTION authorizing not exceeding 53,000 bonds of the City of Oshkosh. BE IT RESOLVED by the City Council of the City of Oshkosh, Wisconsin, that there shall be issued the general obligation bonds of said City in the principal amount of not exceeding $53,000 for the purpose of improving and extending the sanitary sewer system of said City. For the purpose of paying the various -7- � � 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 March 4 � 1982• Recorded March 4 y 1982• It was moved by . ��y Hulsebosch City Clerk and seconded by that said resolution be adopted. Upon roll being called, the following voted: r pye; Hulsebosch, Mather, Propp, Pung, Kutchera I� None i5) The following resolution was thereupon introduced and read in full: RESOLUTION providing details of $3,4 5 0 Corporate Purpose Bonds of the City of Oshkosh and directing the sale thereof. WHEREAS by initial resolutions duly adopted on P4arch 4, 1982, there have been authorized to be issued bonds of the City of Oshkosh (the "City") in the amounts and Por the purposes as follows: $313,000 for the purpose of improving and extending the storm sewer system; �852,000 for the purpose of constructing and extending the water plant and water mains; : and _ _ _ $248,000 for the purpose of providing street improvenents; $105,000 for the purpose of providing and improving public parks; $1,000,000 for the purpose of constructing bridges; $894,000 for the purpose of acquirin� and developing sites for industrial parks; $53,000 for the purpose of improving and extending the sanitary sewer sytem; WHEREAS it is now necessary that bonds be sold and issued for the purposes aforesaid in the total principal amount of $3,�+65,000; and WHEREAS the City is authorized by Section 67.05(13), Wisconsin Statutes, to combine bonds authorized under vari.ous , initial resolutions into one issue: N047, THEREFORE, Be It Resolved by the City Council of the City of Oshkosh, Winnebago County, 4lisconsin, as follows: Section 1. The bonds authorized by the initial resolutions adopted by this City Council on March 4, 1982, and referred to in the preamble hereto, shall be sold and issued as a single issue in the principal amount of $3,465,000 to be designated "Corporate Purpose Bonds, Series 1982" (the "Bonds"), shall be dated May 1, 1982, 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 T�iay 1 of each of the years 1984 to 1995, inclusive, as follows: Year 1984 1985 1986 1987 1988 1989 Amount $115,000 loo,000 150,000 250,000 350,000 250,000 � Year 1990 i9g1 1992 19 93 1994 1995 Amount $250,000 250,000 250,000 750,000 500,000 250,000 0 Bonds maturing on and after tday 1, 1993 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 tday 1, 1992 and on any inY.erest 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 of an appropriate notice one �i.m2 in a financial newspaper or journal published in New York, New York, or Chicago, Illinoi.s, 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. i The Bonds shall bear interest at a r°ate or rates to be hereafter determined, pa9_ able on Mas 1, 198 3, and semiannually thereafter on November 1 and May 1 of each year, and shall be signed by L-he 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 P'Ianager and City Clerk with their respective facsimile signatures, and said officers shall by the execution of the Bonds adopt as and for their own official signatures their respective 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: -10- i` (For� of Bond) UNITED STATES OF AP4ERICA STATE OF 6dISCONSIN COUNTY OF WINNEBAGO CITY OF OSHKOSH CORPORATE PURPOSE BOND, SERIES 1982 Statement of the value of all the taxable property in said City of Oshkosh according to the last preceding assessment thereof for state and county taxes, as equalized by the State of �disconsin Department of Revenue, being for the year 19_ . . . . . . . . . . . . . . . . . . . . $ Statenent of the value of all the taxaUle property in territory attached to said city for school purposes according to the last preceding assessment thereof for state and county taxes, as equalized by the State o£ �9isconsin Department of Revenue, being for the year 19A ••••• Aggregate amount of existing bonded indebt— edness of said city, including this issue . o. No. f . $ . $ $ KNO[d ALL P� N BY THESE PRESENTS: Tnat the City of Oshkosh, (the "City") in the County of Winnebago and State of Wisconsin, hereby acicnowledges itself to owe, and for value received promises to pay to bearer, or to the registered holder if this bond shall then be registere3 as to principal, the principal sum of 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 liave been fully paid, such interest being payable November 1, 1982, 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 —11— _, _ �...� _ _ _ __ the UniY.ed States of America at e , , or at , , , at the option of the holder. For the pronpt 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 irrecovably pledged. Bonds of the issue of which this bond is one maturing on and after Tday 1, 1993 are subject to redemption prior to maturity at tne option of the city as a whole, or in part in inverse order of maturity and within a maturity by lot, on May 1, 1992 and on any interest pay- ment 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 publica- tion of an appropriate notice one time in a financial newspaper or journal published in New York, Ne�a 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 p�ior to the date fixed for redemption. This bond is one of an issue of $3,465,000 issued for the purpose of providing f unds in the amounts and for the purposes as follows: $313,000 for the purpose of improving and extending the storm sewer system; $$52,000 for the purpose of constructing and extending the water plant and mains; $248,000 for the purpose of providing street improvements; $105,000 for the purpose of providino and improving public parks; $1,000,000 for the purpose of constructing bridges; $894,000 for the purpose of acquiring and developing sites for industrial parks; $53,000 for the purpose of improvin� and extending the sanitary sewer system; -12- pursuant to and in all respects in compliance with Chapter 67 of the Wisconsin Statutes and acts supplemental thereto, and a resolution duly adopted Uy the City Council of the City on March 4, 1982. This bond is registrable 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 in 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 Sts City Clerk, and its corporate seal to be impressed hereon, and the coupons hereto attached to be signed by said City T7anager and City C1erk with their respective facsimile signatures, and said officers, by the execution of this 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, 1982. (facsimile signature) City 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 -13- : ,..,',: ;» ` � .� ; �,: 0 . _ _. _ thereof duly made., L'he City o£ Osh�osh, 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, Serles 1982, dated May 1, 1982, No. . (facsiimile si�nature) City Clerk facsimile signature City Manager (Prov3sion for Registration) The within Bond may be registered in the name of the r 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 b.la.nk 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 from registration by being transferred to bearer, after which it sha12 be transferable by delivery but may be again registered as before. Such registration shall not impair the negotiability by delivery of the coupons attached �o this Bond. Date of . Name of . Address of . Signature Registration : Registered Holder : Registered Holder : of Registrar d 9 a e tl A Section 4. The Bonds shall be sold at public sale in the manner provided by law on or about April 15, 1982. Notice of the sale of the Bonds sha21 be published once in the o£ficial —14— _ .�= : _ .;. � 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. The Director of Administration shall prepare and distribute an Official Statement, including an Official Notice of Sale which shall be in substantially the form provided in Exhibit "B" attached hereto. Section 5• When the Bonds sha11 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 fo� 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 r2flects, 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 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 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 103ic) of the Internal Revenue Code of 1954, as amended, or the regulations of -15- 3. ;_. _ . ��. the United States Treasury Department currently in effect 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 sha11 be made in violation of the expcctations prescribed by said Arbitrage Certificate. Adopted ?4arch 4, 1982• Recorded March 4 , �982� Motion was made by Pun City Clerk that said resolution be adopted, and said motion was seconded by Pr After due consideration, the t4ayor p�t the question, and upon roll being called, the following voted: Aye: Hulsebosch, Mather, Propp, Pung, Kutchera �5) Nay: None Thereupon the following resolution was introduced by One Council Member 8nd read in full: RESOLUTION directing the advertisement and sale of $2,735,000 Promissory Notes, Series 1982, of the City of Oshkosh, Ylisconsin. WHEREAS it is necessary that funds be raised in the amount o£ $2,i35,000 for the purpose of providing for permanent improvement of lands, acquisition of equipment and public work and improvements consisting of construction of sidewalks, urban redevelopment programs under Section 66.43, 471sconsin Statutes, improvements to public buildings and acquiring major equipment; and -16- , y: >''' _ _ WIiEREAS cities are authorized by the provisions of Section 67.12(12) of the T9isconsin Statutes to borrow money and issue promissory notes for the purposes aforesaid; and WHEREAS it is considered necessary and desirable by Lhe City Council.of the City of Oshkosh, ldisconsin (the "City"), that the City borrow $2,735,000 for the gurpose of providin� funds for the purpose aforesaid, and that the City issue to the lender its promissory notes to evidence the indebtedness thereby incurred; and WHEREAS it is considered desirable to offer said promissory notes at public sale on Apri]. 15, 1982, in conjunet�on with the sale of $3,465,000 Corporate Purpose Sonds, Series 198�, In order to obtain the best possible terms for the City; NOW, THEREFORE, Be It Resolved by the City Council of the City of Oshkosh, Winnebago County, Wisconsin, as follows: r Section 1. For the purpose of paying the cost oP providing permanent improvement of lands, public work and improvements, pro— viding financial assistance for urban re3evelopment projects under Section 66.43, 4lisconsin Statutes, and acquisition of equipment as described in the preamble hereto, there shall be borrowed the sum of $2,']35,000 and to evidence such indebtedness the City shall issue to the lender its promissory notes in the aggregate principal amount of $2,735,p00. Section 2. Said notes shall be sold at public sale on or about April 15, 1982, and shall be advertised for sale by the City Clerk by the publication of a notice in the Oshkosh Daily Northwestern, published in Oshkosh, Wisconsin, and in The Bond Buyer published in New York, New York, as a Class I notice. Such publication shall be in substantially the form set out as Exhibit "A". The Director of Administration shall cause to be prepared and distributed an Official Statenent, includin� an Official Notice of Sale which shall be in substantially the form set out as Exhibit "B" hereto. -17- Section 3. After bids shall have been received for said notes this City Council will adopt additional proceedin�s to award said notes to tne best bidder, pr•escribe the terms of said notes, and the forms of note and coupon, and levy taxes to pay principal and interest. Adopted March 4 , 1982. Recorded March 4 , 1982. Attest: Pdayor City Clerk Aye: Hulsebosch, Mather, Propp, Pung, Kutchera (5) t NBy: None The P4ayor thereupon declared said resolution duly adopted. * * * (Other business) There being no furtner business to come before the City Council it was moved by Pung ,.seconded by Propp , and unamimously carried that the City Council adjourn. ATTEST: Approved tdarch 4 , 1982, City Clerk � ayor . _ _ ___ _ _ _ STATE OF 47ISCONSIN ) ) SS: COUNTY OF WINNEGABO ) I, CONVERSE C. 17ARKS, hereby certify that I am the duly qualified and actin� City C1erY, of the City of Gshkosh, 'disconsin, 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 Tlarch 4, 1982 that I have compare3 said copy with the ori�inal 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 $3,465,000 general obligation bonds and $2,735,000 Promissory Notes of said City. WITNESS my official signature and the seal of said City i this 4th day of March _, �98z• City (S E A L) i \✓ ��� � � � � c+ h �• w c� o c� o w � m a �i .. K .. K K �•u�aY•ma m�, w m N• a. R+ � O P+ �+ O .. r. hy .. m ro n h h h r-^� �w aM rr ��`� �t H k o H .de � � m k p ro .� � �- U?' 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