HomeMy WebLinkAbout29533 / 78-28,7�a:�? e 1, 19 7� � 2 8 F..��1.dJTI:�:�
�Ti?e.r� wi11. b� a�inal r�solution ��r SJ��,�'�� C�-tY cf �hkosh, Wiscz�ns�n,
IndusLr�al IJev�eJ_o�ment R�ve.nue Bez�c?s, S��_? �_s c;Zi31� �y ��g. , Ir_�:. Projc,ct} -
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CITY COt1NCIL
OF THE
CITY OF OSHKOSH
RES�LUTION N0. �_
BOND RESOL[ITI�N AUTHORI'T,ING
$365,000
CITY OF nSHKOSH, WISCONSIN
INDUSTRIAL DEVELOPMFNT REVENUE RONDS,
SFRIES A
(VALLEY MFG., INC. PROJECT)
WHEREAS, the City of Oshkosh, Wisconsin (the "Munici-
pality"), is a municinal cor�oration or�;anized and existing
under and pursuant to the laws of the State of Wisconsin, and
i� ai�thorized by Section 66.521 Wisconsin Statutes, as amended
(hereinafter sometimes referred to as the "Act"), to:
(a) issue industrial devel.opment revenue
honds to finance all or any part of the
costs of the construction, equipping,
reequippin�, acquisition, purchase,
insta]_lat i.on, reconstruct ion, rebuilcling
rehabilitation, improving, supplementing,
maintainin�, repairing, enlarP,ing, extending
or remodeling of a project which qualifies
under. the Act and the iMprovement of. the
site therefor; and
(b) enter into a revenue a�reement with an
eligible participant pursuant to which
the eligible participant ap,rees to cause
said project to be constructed anc3 to Pay
the Municip:�lity an amount of funds sufficient
to provide for the prompt payment when due
of the principal of and interest on said
industrial development revenue bonds; and
WH�REAS, 0& L Corp., a Wisconsin corporation (t'ne
"Company"), has heretof.ore requested the Municipality to issue
indust-rial developrnent revenue bonds to Ein�nce a project on
hehalf of the Company as an eliQible participant under the Act;
and
WHEREAS, this body (the "Municipatity's Governing, Rody")
has heretofore found and determined that saicl Project consistinQ of
a building addition of approximatel.y t9,900 square feet rin� nece�-
sary f ixtures f�>r Liie m��nufactuce .3n�1 warehousin� of residential
and commercial cahinetry and relatec� procl��cts (hereinafter c�lle��
t'ne "Project") is a qualified "project" within the meanin� of the
Act and that the Company is an "elipible participant" within the
meaning of the Act; and
WHERF.AS, on February 2, 1978, the Municipality's
Governing Body adopted an initial resolution pursuant to the Act
wherein it was resolved t1�at the Municipality would issue indus-
trial development revenue bonds to finance the Project, subject
however, to the satisfaction of certain conditions including the
approval by this body of tl�e terms of the bonds and the revenue
agreement described in said initial resolution; and
WHEREAS, on February 10, 1978, notice of the adoption
of the initial rPsolution was publisheei in accor.dance with
Section (t0) of the Act, and no sufficient petition has been
f i1e�i with the Clerk requesting a referenclum on the question of
the issuance of said industrial development revenue honds;
and
�aHERrAS, the Company has now requested ti�at the Munici-
p�tity provide for the issuance of $365,000 principal amount of
industri�l development revenue bonds upon the terms set forth in
this Resolution (as herein descrihed, the "Series A Bonds"); and
WHERFAS, in connection therewith the Company has
presented the Municipality with proposed documentation for the
Series A Bonds, as follows:
(a) a Bond Purchase Agreemenr_, to be dated as of
the date of adoption of this Bond Resolution
(the "Bond Purchase A�r.eeinent"), to be entered
into by and amon� the A9unicipality, the Company,
val.ley �fY., Inc., �3 Wisc��nsin corporation, as
guarantor (the "Guar_ant�r"), and First laisconsin
Nati�n�1 Rank oE �shkosh, Oshkosh, Wisconsin
(the "Rond Purchaser"), setting forth the terms
and conditi.ons on which the MunicinaLity �aill
sell and the Bond Purchaser will purchase the
Series A Bonds; and
(b) an Indenture of Trust, to be dated as of
June 1, 1978 (the "Indenture"), to be en-
tered into between the Municipality and
the corporate trustee hereinafter designated
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�
(the "Trustee"), providing for the creation
of the Series A Bonds, the terms thereof
and the security therefor; and
(c) a Loan Agreement, to be dated as of June
l, 1978 (the "Loan Agreement"), to be
entered into between the Municipality and
the Company providing for a loan of the
Series A Bond proceeds to the Company
on repayment terms scheduled to provide
the Municipality with revenues sufficient
to retire the Series A Bonds in accordance
with their terms; ancl
(d) a Promissory Note, to be dated June 1, 1978
(the "Promissory Note"), to be issued by
the Company payable to the order of the
Municipality in the principal amount of
5365,000 as evidence of the borrowing pro-
vi�3ed for in the Loan Agreement and to be
assigned by the Municipality to the Trustee;
and
(e) a Mortgage, to be dated as of .Iune l, 1978
(the "Mortgage"), from the Company to the
Municipality, and from the Municipality to
be assigned to the Trustee, providing col-
lateral security for the performance of the
Company's obli�ations under the Loan Agree-
ment.
(f) a Guaranty A�reement, to be dated as
of June l, 1978 (the "Guaranty Agree-
ment ), from the Guarantor to the Trustee,
providing an unconditional guaranty by the
Guarantor of the prompt payment when due
of the principal of, premium, if any, and
interest on the Series A Bonds.
WHEREAS, in accordance with the Act, this Resolution
and the aforesaid instruments and documents, the Series A Bonds
and interest thereon shall never constitute an indebtedness of
the Municipality within the meaning of any State constitutional
provision or statutory limitation and shall not constitute or
give rise to a pecuniary liability of the Municipality or a
charge against its general credit or taxing powers; and
WHEREAS, it is in the public interest of the Municipality
to encourage and promote the development of projects such as the
Project in order to realize public benefits such as, but not
-3-
limited to, the provision and retention of gainful employment
opportunities for the citizens of the Municipality; the stimula-
tion of the flow of investment capital into the Municipality
with resultant beneficial effects on the economy in the Muni-
cipality; and the preservation and enhancement of the Munici-
pality's tax base; and
WHEREAS, the development of the Project and the
issuance of Bonds to finance the Project as herein recited
will, in the judgment of this body, serve the intended accom-
plishments of public purpose and in all respects conform to
the provisions and requirements of the Act;
NOW, THEREFORE, BE IT RESOLVED:
l. Findin s and Determinations. It has been found
and determined an is ere y ec are :
(a) that the Project is a qualified "project"
under and for the purposes of the Act;
(b) that the Company is a qualified "eligible
participant" under and for purposes of
the Act;
(c) that the Loan Agreement meets the require-
ments of a"revenue agreement" under and
for purposes of the Act;
(d) that the estimated aggregate cost of providing
the Project and paying the costs incident to
the financing is not less than $365,000; and
(e) that the payments required to be made by
the Company under the Loan Agreement are
sufficient in amount to pay when due the
principal of, premium, if any, and interest
on the Series A Bonds.
2. Authorization to Borrow and to Lend. The Munici-
pality shall borrow, ut on y in t e manner herein recited, the
sum of $365,000 for the purpose of (i) financing the costs
of providing the Project, (ii) paying the costs of issuing
and selling the Series A Bonds, and (iii) paying such other
costs related thereto as are permitted to be paid with bond
proceeds under the Act. Said borrowing shall be accomplished
through the sale of the Series A Bonds issued pursuant to the
Act. The Municipality shall lend the sum of $365,000 to the
Company pursuant to the terms of the Loan Agreement, which
borrowing shall be evidenced by the Promissory Note and secured
by the Mortgage.
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3. Desi nation, Denomination, Tenar and Maturit of
Series A Bonds Create or Issuance. T e Series A Bon s s a�
e issue in the principal amount of $365,000 and shall be
desi�nated:
CITY OF OSHKOSH, WISCONSIN
INDUSTRIAL DEVELOPMENT REVENUE BONDS, SERIES A
(VALLEY MFG., INC. PROJECT)
The Series A Aonds shall bear interest at the rate of
eight percent (8%) and shall be payable on the first days of May
and November commencing November l, 1978. The Series A Bonds
shall mature in accordance with the schedule provided below:
Principal Maturity Date Principal
(May 1 of the Year) Amount
1979
1980
1981
1982
1983
1984
1985
198b
1987
198$
1989
1990
1991
1992
1993
$13,442.95
14,518.39
15,679.85
16,934.25
18,288.99
19,752.11
21,332.27
23,038.85
24,881.97
26,$72.53
29,022.33
31,344.11
33,851.63
36,559.77
39,480.00
The Series A Bonds shall be issuable as a single
£ully registered typewritten bond without coupons. The
Series A Bonds and the interest thereon shall be transferable
by and shall be payable to the registered owner thereof in
the manner and with the effect provided in the Indenture.
The principal of, premium, if any, and interest on the
Series A Bonds shall be payable in Iawful money of the
United States of America at the principal corporate trust
of�ice of the Trustee, as paying agent, or the office of any
su�cessor or additional paying a�ent designated by the
Municipality and approved by the Company.
The Series A Bond shall be dated June l, 1978, except
in the case of fully registered Series A Bonds issued and authen-
ticated after the first interest payment date which shall be
dated in accordance with the provisions therefor provided in the
Indenture.
��
The Series A Bonds shall be issued in the form therefor
as set forth in the Indenture, with such insertions therein as
shall be necessary to comply with the terms of this Resolution
and with such corrections therein, if any, as the approving bond
attorney may require for conformity with the terms of this
Resolution, the Indenture and the Act.
4. Execution and Authentication of Series A
Bonds. The Series A Bon s s a e execute on e a of the
Municipality with the manual signature of its City Manager,
countersi�ned with the manual signature of its Clerk and shall
have impressed, imprinted or otherwise reproduced thereon the
official seal of the Municipality or a facsimile thereof. No
Series A Bond shall be issued unless first authenticated by
the Trustee, to be evidenced by the manual signature of an
authorized officer of the Trustee on each Series A Bond.
5. Designation of Trustee. The Municipality hereby
desi�nates and a�points First Wisconsin National Bank of Oshkosh,
Oshkosh, Wisconsin, to perform the functions of the Trustee bond
re�istrar and paying agent under the Indenture.
5. Additional Bonds. Bonds in addition to the Series
A Bonds may be issue rom tzme to time under the Indenture
suhject to the terms and conditions therein provided and subject
to the approval of this body. If so issued, such additional
Bonds shall rank equally and on a parity with the Series A Bonds.
The Series A Bonds and any such additional 8onds are hereinafter
collectively referred to as the "Bonds".
7. Series A Bonds as Limited Obli ations. The Series
A Bonds and interest t ereon s all never e or e considered a
general obligation of the Municipality or an indebtedness of the
Municipality within the meaning of any State constitutional
provision or statutory limitation and shall not constitute or
give rise to a pecuniary liability of the Municipality or a
charge a,�ainst its �eneral credit or taxing powers.
8. Source of Pa ment; Pl�ed e� o_�f� Revenues. The
Series A Bonds s a.l e limite o iPl ,ations o the Municipality
payable by it solely from revenues consisting of (i) income and
revenue derived by or for the account of the Municipality from
or for the account of the Company pursuant to the terms of
the Promissory Note and the Loan Agreement (except certain
taxes, expenses and indemnity payments which may be�ome due
to the Municipality), (ii) all n�t proceeds realized upon
recourse to the Mort�age and any other collateral given to
secure the Company's obligations under the Loan Agreement,
(iii) moneys received by the Trustee for the account of the
Municipality pursuant to the terms of the Guaranty Agreement,
and (iv) moneys held in trust funds created under the Indenture.
�:�
As security of the payment of the principal of,
premium, if any, and interest on the Bonds, the Municipality
shall pledge and assign to the Trustee all of its right, title
and interest in and to the Promissory Note, the Loan Agreement
(except for its rights to receive and enforce payment of certain
taxes, expenses and indemnity payments from the Company as set
forth in the Indenture and the Loan Agreement), the Mortgage and
the trust funds held by the Trustee under the Indenture.
9.
The Series A
maturity as
Redemption of Series A Bonds Prior to Maturity.
Bon�s sFiall e su ject to re emption prior to
provided in the Indenture and summarized below:
(a) Extraordinary Event Redemption. Upon or
within one year ollowin� the occurrence of
any of the extraordinary events specified in
the Indenture, the Company shall have the
option of having the Series A Bonds redeemed
in whole (but not in part) at 100% of the
principal amount thereof, plus accrued
interest to the redemption date.
(b) Mandator Redem tion in Event of Tax Violation.
The Series A Bon s s all e s�bject to man atory
redemption in whole upon the occurrence of certain
events which result in a loss of the federal
income tax exemption for the Series A Bond
interest (as defined in the Indenture) at 100%
of principal amount, plus accrued interest to
the redemption date.
(c) 0 tional Redemption. The Series A Bonds shall be
su ject to redemption prior to maturity by the
Municipality (at the Company's Direction) as a
whole at any time, or in part in inverse order of
maturity on any interest payment date, at a
redemption price of 100% of the principal amount
plus accrued interest to the redemption date.
Notice of any redemption of Series A Bonds prior to stated
maturity shall be given in the manner provided in the Indenture.
The principal of, premium, if any, and interest on Series A
Bonds called for redemption as aforesaid shall be payable
solely from moneys held by the Trustee under the Indenture and
available therefor, including moneys derived from the Company
for such purpose pursuant to the Loan Agreement.
10. Creation of the Construction Fund. There is
hereby created by the Municipality an or ere established
with the Trustee, a trust fund to be designated with the
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names of the Municipality and the Guarantor which shall be used
to pay (or reimburse the Company for) the costs of providing
the Project and such other costs in connection with the Project
and the issuance and salP of the Series A Bonds as are permitted
to be paid from the proceeds of the Series A Bonds under the Act,
the Loan A�reem�nt and the Indenture. There shall be deposited
in said Construction Fund the entire proceeds received upon
�a1e of the Series A Bonds less the portion thereof consti-
tuting accrue� interest. The Munici_pa]_ity hereby authorizes
and directs the Trustee to withdraw funds from said Constructio�
Fund for disbursement to or at the order of the Company pursuant
to requisition of the Company as provided in the Indenture and
Loan Agreement.
11. Creation of Bond Fund. There is hereby created
by r_he Municipality and ordered established with the Trustee,
a trust fund to be designated with the names of the Munici-
pality and the Guarantor which shall be used to pay the principal
of, premium, if any, and interest on the Bonds. The Municipality
hereby authorizes and directs the Trustee to withdraw sufficient
funds from sai� Bond Fund to pay the principal of, premium, if
any, and interest on the Series A Bonds as the same hecome due
and payable.
12. Parit MortgZa�e Indebtedness; Mort�a�e_Account.
For the purpose o_ inancing costs o� constructing improvements
to the r_eal property subject to the Mort�age, the Borrower
has heretofore incurre� an indehte�ness to First Wisconsin
National Bank of Oshkosh, Oshkosh, Wisconsin, evidenced by
the Company's promissory note in the original face amount of
$164,000 (the "Parity Mortgage Indebtedness"). Provision
has been made in the Loan A�reement, the Mortgage,and the
Indentur.e whereby the Parity Mortgage Indebtedness will
share equally and proportionately with the Bonds in the
collateral security provided by the real estate mortgage
lien of the Mortgage. Such provision is hereby expressly
approved.
The Trustee is authorized to create and establish
under the Indenture a trust fund (the "Mortgage Account") into
which there shall be deposited any net proceeds derived by the
Trustee by recourse to the Mortgape as more fully set forth
in the Indenture. Any distribution from the Mortgage Account
�hal1 he allocated hetween the Bonds and the Parity Mortgage
Indebtedness in proportion to the respective principal amounts
of each outstandin� at the time of the distribution. The portion
so allocated to Bonds shall be deposited into the Bond Fund, and
�he portion so allocated to Parity Mortgage Indebtedness shall
:
be appor t ioned amon� the ho]_ders thereo F in :�ccc�rc�ance w i tii
1_he instrument, a�reement or indentur.e pursuant to which the
V:�r �Ly Mor�K.a�e Inc�ehteclness wa� incurrec#.
13. Other Trust Funds. There is hereby created
by the Municipa�ity anc� orc�ere� established, if necessary,
with the Trustee funds in which there shall be.deposited such
net proceeds of certain sales, insurance and condemnation awards
as may be provided in the Loan Agreement and the Indenture.
The Trustee is authorized to withdraw funds from said trust
Eunds for a�plication as providPd in the Loan Agreement and
the Indenture.
14. Investment of Trust Funds. Any moneys held
as a part of the tr. ust �uri�s �ieldTy t�f�a Trustee under the
IndenturP hereof may be invested and reinvested by t'ne Trustee
upon request hy the Company in (i) securities which are direct
Yeneral obli�ations of the tJnited States of America, (ii)
securities which are unconditionatLy gvaranLeeci as to hoth
principal and interest by the United States of America, (iii)
obli�ations of any oE the following: Banks for Cooperatives,
Federal Financing Bank, Fe�eral Lanci Ranks, Federal Home Loan
Banks, Federal Intermediate Credit Banks, Federal National
Mort�a�e Association, Export Import Bank of the [Jnited States
or_ Government National Mortga�e Association, (iv) bank repurchase
a�;reements fu11y secured bv obli�ations oF the United States oE
Arnerica, and (v) interest-hearing accounts, time deposits and
certificates of deposit issued by any bank, trust company or
national bankin� association (including the Trustee) which has
ag�regate capitat, surplus and undivided ;�rofits in excess of
$500,000, but in no event shall the amount investe� at any one
time in interest-bearing accounts, time deposits or cer_tificates
<�E deposit of any particular bank, trust company or. national
hanking association equal or exceed 20% of the capital, surplus
and undivided profits of such bank, trust company or national
hank in� associat ion.
t5. Determination of Revenue Pa ment. The amount
nec�ssar_y in eac�i year to pay t e principa o, premium, if
any, and interest on the Series A Bonds is the sum of (i) the
amount of principal becomin�; due in such year in accordance
with paragraph 3 of this Resolution (as reduced f.rom time to
time by reason of prior redemptions anc3 open market purchases
oF Series A Bonds in accordance with the Indenture); plus (ii)
the principal amount of Series A Bonds to be redeemed in such
year in accordance with a call for redemption made in accordance
with parap,raph 9 of this Resolution and the Indenture, plus the
premium, if any, payable with respect thereto; plus (iii) Che
am<�unt of interest on the Series A Bonds becoming due in such
yeac in accordance with the interest rate specified in paragraph
3 of this Resolut ion.
�
In expr.essing the Company's obligation to make the
nece�sar_y revenue payments, it shall suf�ice herein and in the
T���n AKreement to state that the Company shall be ohligated to
�ay the MuniciPality (or the Trustee For the account of the
Municipality) amounts sufficient to pay when due the principal
of, premium, if any, and interest on the Bonds.
The Loan Agreement contains provisions, adequate
in tl�e judgment of this body, requirin� the Company to provide
For the inaintenance of. the Project anc3 the carrying of all
proper insurance with respect thereto. Consequently, the
Company need not be required to pay amounts into any reserve
Eund� For the retirement of the Series A Bonds or for the
maintenance of the Project.
16. Award of Series A Bonds; Execution and Delivery
of the Bond Purc—�se—A�reement. T e Company �as negoEiated �or
the sale of the Series A Bonds to the Bond Purchaser at a price
af 100% of the principal amount of_ the Series A Ronds, plus
accruec� interest r_o the date of delivery. Given the purposes
of the financing and the involvement of the Municipaiity there-
with, it is the determination of this body that the Series A
Bonds shall be hereby awarded to the. �on�l Purchaser at the price
.iforesaid with delivery to follow in the manner, at t+ie time and
subject r_o the conditions set forth in the Bond Purchase Agree-
rnent. As evidence thereof, the City Manager and the Clerk are heceby
auChorized and directed for and in r_he name of the Municipality
to execute, af_fix with the official seal of the Municipality and
deliver the Bond Purchase Agreement in the form presented here-
with, or with such insertions therein or corrections thereto as
sh.�11 t�e a�proved by the City M�3na�er and Clerk consistent with this
Resolution and the terms of. the Act, their execution thereof to
constitute conclusive evidence of their approval of any such
insertions and corrections.
17. Execution and Deliver� of the Loan A�reement
and the_Indenture; Assi�nment_of the Promissory Note and the
Mort�a�e. The terms anc� provisions of the Promissory Note, �the
l,��n Agreement, the Mort�a�e and the Indenture are hereby ap-
�r_r�ved. The City Manager and the CZerk are hereby authorized for
and in the name of the Municipality to execute, affix with the
off.icial seal of the M�micipality and deliver the Loan Agreement,
r_hp Indenture and the assignments of the Promissor_y Note and the
MortpaKe in the respective forms thereof presented herewith, or
with such in�ertions therein or_ corrections thereto as shall be
approved by the City Manager and Clerk consistent with this Resolu-
tion and the terms of the Act, their execution there�f ta con5ti-
tute conclusive evidence of their approval of any such insertions
and corrections.
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18. Execution and Deliver of the Series A Bonds.
The City Manager and t e Clerk are ere y aut orized or and in
the name of the Municipality to execute the Series A Bonds
in the manner authorized by paragraph 4 of this Resolution.
Subject to the terms and conditions of the Bond Purchase Agree-
ment, the Municipality shall deliver the Series A Bonds to the
Bond Purchaser.
19. General Authorizations. The City Manager and the
Clerk and the appropriate eputies and officials of the Munici-
pality in accordance with their assigned responsibilities are
hereby each authorized to execute, publish, file and record
such other documents, instru�ents, notices (including notice
pursuant to Wis. Stats. §893.23) and records and to take such
other actions as s�iall be necessary or desirable to accomplish
the purposes of this Resolution and to comply with and perform
the obligations of the Municipality under the Series A Bonds,
the Loan Agreement and the Indenture.
If the City Manager or the Clerk shall be unable
by reason of death, disability, absence or vacancy of office to
per.form in timely fashion any of the duties specified herein
(such as the execution of Series A Bonds, the Bond Purchase
Agreement, the Loan Agreement, the Indenture or the assignments
of the Promissory Note and the Mortgage), such duties shall be
performed by the officer or official succeeding to such duties in
accordance with law and in the ordinances of the Municipality.
20. Effective Date; Conformit , This Resolution
sha11 be effective imme iately upon its passage and approval.
To the extent that any prior resolutions of this body are
inconsistent with the provisions hereof, this Resolution
shall control and such prior resolutions shall be deemed amended
to such extent as may be necessary to bring them in conformity
with this Resolution.
� � * � �
The foregoing resolution of the City Council of
the City of Oshkosh, Wisconsin, was adopted, approved and
recorded on June � , 1978.
�, �ouncit rresiae
,G�� I[.�4'` O�'�
City Manager
-11-
1 � y' �Ji
C er
-12-
CERTIFICATIONS BY CLERK
I, Converse C. Marks, being first duly sworn, do hereby
depose ancj certify that I am the duly appointed, qualitied and
acting C1erk of the City of �shkosh, in t'�e Caunty of '�innebago,
State of Wisconsin, and as such I have in my possession, or have
access to, the complete corporate records of said City and of its
City Council; that I have carefully compared t'ne transcript
hereto attached with the aforesaid corporate records; that said
transcript hereto attached is a true, correct and complete copy
of all the corporate records in relation to the adoption of
Resoluti�n No. Z � entitled:
BOND RESOLUTION AUTHORIZING
$365,000
CITY OF OSHKOSH, WISCONSIN
I�DUSTRIAL DEVELOPMENT REVENUF. BONDS,
SERIES A
(VALLEY MFG., INC. PROJECT)
I do hereby further depose and certify as follows:
1. Said resolution was considered far adoption by t'ne
City Council at a-nePting held in the City Ha11 at 7:00 P.M. on
June l, 1978. Said meeting was a re�ular meeting of the City
Council and was held in open session in compliance �aith Subchapter
IV of Chapter 19 of the Wisconsin Statutes.
2. Said resolution was on �he agenda for said meeting
and public notic_e thereof was �;iven not less than 24 hours prior
to the commencernent of said meetinQ in com�liance with Section
19.84 of the Wisconsin Statutes, incluciing, without limitation,
hy posting on the bulletin board in the City Hal1, hy notice to
those news media who have filed a written request for natice of
meetings and by notice to the official n�wspa�er of th e City.
3. Said meetin� was called to order by Kenneth
Schiefelbein, Council President, who chaireci the meeting. Upon
i'Uii i ti�i.�Ci ai3ii �:r^;�vtCieCi i.�'.?r t�? Fn�lnwi.rxa %.pi_1i1['l�_n�rc�nc
_v1 �.. . i . - i,
were present:
Council P•lembers : KUTCyERA, Don H. ; i�IATHER, James A. ;
PROPP� _ Kathleen P� _ STNGSTOCKa_ Ge orge _ Ns ;
tTEICHN�ILT,ER, Bern�ce• SCHIEFEL�"IN Ken R. (6)
and that the followin� Councilpersons were absent:
Council t�Iember: PUid" Robert E. (1)_ __
— -- --=-�----_ __ - --- - -- - - - - -
I noted and recorded that a quorum was present. Various matter_s
and i�usiness were taken up during the course oF the �neeting
-i-
'- ,
���ithout intervention of any closed session. One of the matters
taken up caas said resolution which was introduced and its adop-
tion was moved by Councilperson KUTCHERA and sec�ncjc�d hy
�,ouncilperson TEICHMILLER Following �iscussion and after_ �11
Councilperso�s w�o�esireci—to��o so had Pxpressed their views for
or against said resolution, the question waS called and upon roll
being called and the continued presence of a quorum being noted,
the recorded vote was as follows:
Aye• KUi'CHERA, MATHER, PROPP, SINGSTOCK,
. TEICHMILLER, SCHI:�FELBEIN
Nay: None----___�__�-----_____.�_�_._-----
Abstain: I�TOne
Whereupon the Council President declared said res�lution adopted,
an�i I so recorded it.
4. Said resolution was approved by the City Mana�er on
June 1, 1978, and I have so recorded.
IN WITNESS WHEREOF, I have si�;ned my name and affixed
the seal of the City hereto on this 2 day af June, I978.
[Municipal SealJ �_ ���{/� �� ���
C erc�— !
STAT�; OF WISCONSIN )
) SS
COUNTY OF WTNNEBAGO )
Subscribed and sworn to before me this day, t:�e
�3ate last above written. ,
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