HomeMy WebLinkAbout31752 / 82-12:farch 4, I482
PURPOSE: BORROW EUNDS
INITIATED BY: CITY ADMINISTRATION
!l 12 RESOLUTION
BE IT RESOLVED by the Co�non Council of the City of Oshkosh that the
proper City officials are hereby authorized to borrow from Winnebago County,
£rom the Winnebago County Industria2 Development Account, up to $200,000.00
to be repaid to Winnebago County on Fe6ruary 28, 1985. This money to be
borrowed for the purpose of financing an industrial building addition in the
North Industrial Park.
BE IT FURTHER RESOI,VED that the proper City officials are authorized to
request from Winnebago County an extension to February 28, 1985, for the re-
payment of a loan of $190,OOO.QO which is carrently due August 9, Z983.
BE IT FURTHER RESOLVED that as an adjunct to the agreement entered into
with the County, the City will enter• into a similar agreement with Chamco, Inc.
to provide that Chamco, Tnc. will pay all costs which would inure upon the City
for this borrowing.
BE IT FURTHER RESOLVED that the proper City officials are hereby author-
ized and directed to prepare all papers and enter into any and all necessary
agreements to provide for such borrowing and also to provide for the protection
of the City of Oshkosh from incurring any financial responsibility or loss.
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