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A D D E N D U M
Nov?mber 15, 1979 # 30
PUF2PQSE: 7A_zLti rY)NE.1' TO SQi00L DISTRIGT
II3ZTIATED BY: CITY AL)M�7ISTi2F.TI023
RESOLUPION
L�AS, the Oshkosh Area School District Board of Education is in need of
funds to mee� _ts Nwe�rber 21, 1979 payroll and the Novettber 28, 1979 accowits
payable; and
��dIEFtF,i�, tne School District will be in need of fimds to �et its payrolls
and other obligations in the ironth of December, 1979; and
Wf�FiEA.S, the City of Oshkosh has funds available to loan to the Oshkosh Area
School District at an interest cost equal to the ai*nunt of intemst the City
of Oshkosh is �ligatecl to pay on the Pramissory Note outstanding with the First
Wis�nsin Natior�l Bank of Oshkosh; and
WI-IERE,�1S, the Oshkosh Area School District has accounts recei�rable in a swn
sufficient to mpay the City of Oshkash by I�ce-ber 31, 1979, or as soon there-
after as these £unds are received by the Schoal District;
N(Tr7, Tt�FLF'ORE, BE IT FiESQLUED by the Cotmon Council of the City o£ Oshkosh
that the pro�r Gity officials are hereby authorized and directed to loan to the
Oshkosh Area Sc'icol Distra.ct Board of Education an arrount up to $665,II03.00 to
treet the Nove.�rber. 21, 1979 payroll and the November 28, 1979 acoounts payable,
and to loan th:�-n an�nount up to $692,153.00 for the ironth of_ I�oe�r, 1979.
:b :�y to ;,� �eYSiu i�y %ecnlc'r�er 31, 157y or as s��i there.�fter as fimds ase
rec�ived by tf!e School District. Maney for this ptupose is her°by appropri.ated
from Account No. 310-550, General Fimd Fquity.
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