HomeMy WebLinkAbout31169 / 81-23February 5, 1981
� 2 3 RFSOLLTION
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INITIATID BY: QTY ADMLNISTRATZ�I
�i'r'f1��"^'..r�v� il':E i,'�1�� Oi �Stl�iv511 �:�Scu:wiOr� iid5 1'a3licS: iiuiYSGili I71uU5'CSidi ."+,-�'_.`J'cRtiE
Bonds on behalf of various industries in th� City of Oshkosh for the pur!�ose of
oroviding jobs, strengthening the �hk.c�sh tax base and preventing a flight frcm
Oshkosh and the State of Wisconsin of tl:ese industries and the resultant job loss;
and
?�P.-TER�S, '-hmugh �ze issLar.�e ot tn:sz Ir.dusuial �ev�^.�e Hon.c7s t1,.e City of
Oshkosh has had various costs inq�osed �on i!., these costs consisting of ti�
spent by various City officials in reviewing and dUPLOVLIlC the bonds, time and
material cost of secretaries and others whc raust work on the issuance of said
bonds; and
6�REA5, the issuan� of Industrial Revenue Bonds, although pzoviding jd�s azad
tax base for the City, it was contem�plated by the enabling legislation that there
would be no cost to the issui.ng municipality; and
W[�.AS, it is deemed advisable by the Concnon Council of the City of Oshkosh
that the City of Oshkcsh ouc�t not have any related cnst in eonnection with the
issuance of said bonds; a policy is herehy established to recover the City's out-of-
vocket and tiire and material costs in connection with the i.ssuance of Industsial
I�c�enue Bonds;
IvUW, TFtEREFOi�, BE IT RFSOLVED by the Coaaron Council of the City of Oshkosh that
'riie oro�er �.,�iy of�iciais w.e her��y au:.ZOriz��c; an�: 3irecced to ciiarge $5uG.0u
upon com�letion of an Industrial Rew..nue Bend issue, which is here� declared to be
the cost to the City for said issuance. This airoimt shall not limit the City
charging the issuer for any tsavel or general outrof-pocket expenses incurred by
any City official in the issuar:ce of an Industrial Revenue Bond issue. Sucl: charces
shall be additional charges and shall be paid for by the issuer.
SU:3',iiT`i��D ;Y
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