HomeMy WebLinkAbout29406 & 29405 78-42 - 49�.....:.
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'Ine City Council of the City of Oshkosh, Winnebago County, Wisconsin,
met in regular open, P�lic session at its regular meeting place on March 16,
1978, at 7•0 0 o'clock p.M., with the following �rs present:
Council Members: KUTCHERA, Don H.; MATHER, James A.;
PROPP, Kathleen M. ; SINGSTOCK, George N. ;
TEICHP�IILLER, Bernice; SCHIEFELBEIN, Ken R.
(6)
and the follawing �-mbers absent:
Council Member: MOSER, Robert H.
* * * *
(pther Business)
(1)
The follaaing resolution, read on March 2, 1978, was thereupon introduced
and read in full:
INITIAL RESOLUTION authorizing
not exceeding $132,000 bonds of
the City of Oshkosh
BE IT RSOLUED by the City Council of the City of Oshkosh, Wisconsin, that
there s:�ll be issue3 the negotiable general obligation bonds of said city in
the princit�al arrount of not exceeding $132,000 for the purpose of paying the
cost of acquiring a fire er�gine• For the purpose of paying the various
install�nts 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
irre�ealable tax surfic?ent for that purpose.
RECOR.DED March i6 , 1978.
City Clerk -
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It was thereupon rroved by P r o p p and seconded
by M at h e r that said resolution be adopted. Upon
roll being called, the following voted:
Aye: Kutcher.a, Mather, Prop.p, Singstock, Teichmiller,
Schiefelbein (6)
Nay: None
0
The follaaing resolution, read on March 2, 1978, was thereupon introduced
and read in full: '
INITIAL RESOLUI'ION authorizing
not exceeding $335,000 bonds of
the City of Oshkosh.
BE IT RESOLUID by the City Council of the City of Oshkosh, Wisconsin,
that there shall be issued. the negotiable general obligation bonds of said ci.ty
in the principal arrount of not exceeding $335,000 for the purpose of paying
the cost of providing streeL improvezrents. For the purpose of naying the various
installrrents of principal and interest on said bonds as they severally n�ture,
there is hereby levied on all t�able property in said city a direct annual
irre?�ealable tax sufficient for that pur�ose.
RECORD�`D March 16 , 19 7 8.
, C1�7 GtPSk .
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It was thereupon m�ved by KUTCHERA and
seconded by TE I CH MI LLE R that said resolution be adopted.
Upon roll being called, the following voted:
Aye:
Nay:
Kutchera, Mather, F'ropp, Singstock, Tezchmiller,
Schiefelbein (6)
None
The following resolution, read on March 2, 1978, was thereupon introduced
and read in full:
INITL-�I� RESOLUTION authorizing
not e�ceeaing 524,000 bonds of
the City of Oshkosh
8E IT RESOLVED by the City Council of the City of Oshkosh, Wisconsin, that
there shall be issued the negotiable general obligation bonds of said city in
the principal am�ur�t of not exceeding $524,000 for the purpose of paying the
cost of i�nprov�ng and extending the storm sewers of said city. For the purpose
of r�aying the various �nstall.Trents 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.
RECORDID March
16 , 1978.
City Clerk
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It was thereupon moved by K UT CHE RA and seconded
bY PR�PP that said resolution be adopted. Upon '
roll being called, the follc�wing wted: �
Aye: Kutchera, ?�Iather, Propp, Singstock, Teichmiller,
Schiefelbein (6)
Nay: None
The follaau�g resolution, read on March 2, 1978, was thereupon introduced
and read in full: �
INITIAL RESOLUTION authorizing
not exceedi.ng 181,000 bonds of
the City of Oshkosh
BE IT RESOLVED by tne City ��cil of the City of Oshkosh, Wisconsin, that
there shall be issued the negotiable general obligation bonds of said city in
the principal am�unt of no� exceeding $181,000 for the pur.r�ose of paying the
cost of improvi.ng and e�ending the water m�ins of said city. For the puzpose
of paying the various install.ments of principal and interest on said bonds as �_
they severally mature, there is hereby levied on all taxable pronerty in sa.id
city�a direct annual irrepealable tax sufficient for that purpose.
R�CORDED March i6 . 1978.
City Clerk
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It was thereupon m�ved by
by KUTCH�RA
roll %�ing called, the follawing voted:
Aye :
Nay:
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S I N G S T 0 C K and seconded
that said resolution be adopted. Upon
Ku�chera, Mather, Propp, Singstock, Teichmiller,
Schiefelbein (6)
None
The following resolution, read on March 2, 1978, was therepon introduced
and read in full:
INITIAL RESOLUPION authorizing
not exceeding $160,000 bonds of
the Ci±y of Oshkosh.
BE IT RESOLU� by fr�e City Council of the City of Oshkosh, Wisconsin,
that there shall be issued the negotiable general obligation bonds of said
city in the principal a-?r�;�t of not exceeding $160,000 for the purpose of paying
the cost of constructi.Tg a bridge in said city. For the purpose of paying the
various install.irnn�-,s of pri.ncipal� and interest on said bonds as they severally
mature, there is h�reby levied on all ta�le property in said city a direct
annual irrepe�lable t� su�`icient for that �uroose.
Rc"c..'O�.DED P�arch 16 , 1978.
City Clerk
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It was thereupon moved by K UT C H E RA and seconded
by PR�PP that said resolution be adopted. Upon -
roll being called, the follcr,�ing votedz
Aye: Kutchera, P�ather, Propp, Singstock, Teichmiller,
Schiefelbein (6) _
Nay: None
The follc�aing resolution, read on March 2, 1978, was thereupon introduced
and read in fulls �
TNITZAL F�SOLUTION authorizing
not exceeding 73,000 bonds of
the City of Oshkosh.
BE IT RESOLVID by t'�e City Council of the City of Oshkosh, Wisconsin,
that there shall be issued i1-�e negotiable general obligation bonds of said
city in the principal �ro��t of not exceeding $73,000 for the purpose of paying
the cost of providing r.�rk ir�rovements. For the purpose of paying the various
; n�tall.rr�nts of princi�a.l ard interest on said bonds as they severally �.ture,
there is hereby leviecl or� all taxable property in said city a direct annual
irrepealable tax sufficient for that purpose.
RECORDID March 16 , 1978.
. City Clerk
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It was thereupon rroved by KUT CHERA � and seconded
by P ROP P that said resolution be adopted. Upon
roll being called, the follawing wted:
Aye: Kutchera, Mather, Propp, Singstock, Teichmiller,
Schiefelbein (6)
Nay: None
'I'he follvwing resolution, read on March 2, 1978, was thereupon introduced
and read in full:
INITIAL R�'SOLUTION authorizing
not exceed�ng $250,000 bonds of
the City of Oshkosh. �
BE IT RESOLUED by t�e City Council of the City of Oshkosh, Wisoonsin,
that there shall be issu�? the negotiable general obligation bonds of said
city in the principal a-no�t of not �ceeding $250,OQ0 for the nurpose of paying
the cost of acqi;�.ring and i�roving parking lots. For the puz�pose of paying
the various installme.nts of principal and interest on said bonds as they
severally mature, there is hereby levied on all t�able property in said city
a direct annual irrepealable tax sufficient for that puzpose.
RECORDID March 16 , 1978.
City Clerk
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It was thereupon moved by KUTCHERA and seconded by
P R 0 P P that said resolution be adopted . Upon roll
being called, the following voted:
Aye: Kutchera, Mather, Propp, Singstock, Schiefelbein
(5)
0
Nay: Teichmiller (1)
0
The follawing resolution was therepon introduced and read in full:
RESOLtpI'I0�7 provicling details of
$1,655,0�0 Cozporate Purpose Bonds
of the C.ity of Oshkosh and directing
the sale thereof.
4�iI�RF�.S by initial resolutions duly adopted on P�iarch 16, 1978, there
have been authorized to be issued bonds of the City of Oshkosh in the arrounts
and for the pur�oses as follaas:
$132,000 for the pur�ose of paying the cost of
acquir�.n� a fire engine;
$335,000 for the pur�ose of paying the cost of
providing street improvern�nts;
$524,000 for -tr��e p-a�-pose of paying the cost of
i.�ro�.�ing and extending the storm sewers of _
the city;
$181,000 �or the purpose of paying the cost of
ir��roving and extending the water m�in� of
the city; ,
$160,000 for the purpose of paying the cost of
constructing a bridge in said city; .
$ 73,000 for the purpose of paying the cost of
providing park improveir�nts;
$250,000 for the purpose of paying the oost of
acquir�ng and improving parking lots; �
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�ti�-�RF,AS it is now necessazy that bonds be sold and issued for the purposes
aforesaid in the total principal airount of $1,655,000; and
ti�REAS said city is authorized by Section 67.05(13), Wiscnnsin Statutes,
to cambine bonds authorized under various initial resolutians into one issue;
N�9 T%��RF�ORE, BE IT RESOLVED by the City Council of the City of Oshkosh,
Winnebago County, Wisconsin, as follaws:
Section 1. The bonds authorized by the initial resolutions adopted by
this City Council on March 16, 1978, and referred to in the preamble hereto,
shall be sold and issued as a single issue in the principal amount of $1,655,000
to be designated "Corporate Purpose Bonds, Series 1978," shall be dated May 1,
1978, shall be of $5,000 denomination each, shall be numbered 1 t� 331, inclusive,
and shall mature serially in nuQnerical order without option of priar rede�tion
on May 1 of each of the years 1979 to 1993, inclusive, as follaws:
Year
1979 - 1981
1982
1983
1984 - 1987
1988
1989 - 1990
199�
1992 - 1993
Arrotult
$ 50,000
55,000
50,OOQ
75,000
�oo,000
15U,000
200,OOQ
250,000
Said bonds shall bear interest at a rate or rates to be hereafter deterrnined,
but not exceeding 7 per cent per an.rnnn, pa.yalile �on November 1, 1978, and •
semiannually thereafter on Novem�er 1 and May 1 of each year, and shall be
signed by the City Manager with his facsimile signature, and by the City Clerk,
and sealed wi�th the co�orate seal of the City of Oshkosh. Interest upon said
bonds shall be evidenced by cou?�ons thereto attached., such ooupons to be
signed by said City Manager and City Clerk with their respective facsimile
signatures, a�~!d said officers shall by the execution of said bonds adopt as
and for their own official signatures their respective facsimile signatures appearing
upon said coupons. Said bonds shall be payable, both principal and interest,
in lawful m�ney 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. Said borids shall be registrable as to princitx-�l in the m�nner
and with the effect provided in the form of bond hereinafter set out.
Section 3. Said bonds and coupons shall be in substar►tially the follawing
form, the omissions to be appropriately co�leted when the bonds are prin�ed:
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(Form of Bond)
UNITED STATFS OF AMERICA
STATE OF WISCONSIN
a� • �: • eri
CITY OF OSHKOSH '
' CORPORATE PURPOSE BO?�ID, SERIES 1978
Staterrnnt of the value of all the taxable
property in said City of Oshkosh according to
the last preceding assessm�nt -thereof for state
and oounty taxes, as equalized by the State of
Wisconsin Department of Revenue, being for the
year19 . . . . . . . . . e . . . . . . . . . . . . m . $
Staten�ent of the value of all the taxable
property in territory attached to said city for
school purposes according to the last preceding
assessment thereof for state and oounty ta��es, as
equalized by the State of Wisconsin Departme.nt
of Revenue, being for the year 19 . . . . s . . , . . . . . . $
Aggregate aTrount of existing bonded indebtedness
of said city, inr.luding this i:ssue . . . . . . . . . . . . . . .$
-�.
$5,000
KNOW ALL ME1�7 BY THESE PRESE,.'N'I5: That the City of Oshkosh in the County
of Winnebago and State cf H3isconsin, hereby ac}mawledges itself to cxae, and for
value received promises to pay to bearer, or tn, the registered holder if this
bond shall then be reg�Gt2red as to princinal, the principal sum of Five Thousand
Dollars ($5,000) on the first day of May, 19 , with i.nterest at the rate of
per cent ( �) per anrnun from the date hereof
until the principal zsro��nt snall have been fully paid, such interest being payable
Nove.mber 1, 1978, a.*�d semiannually thereafter on May 1 and November 1 of each
year, interest to �r�turity being payable only upon presentation and surrender
of the interest coupons attached heretr� as they severally mature. Both
principal hereo` and interest hereon are hereby made payable in lawful money
of the United States of Arrerica at
or at
,
at the
option of the holder, For the promot t�ayment of this bond with interest hereon
as aforesaid and for the levy of t�es sufficient for that purpose, the full
faith, cr�dit and recources of said city are hereby irrevocably pledged.
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ihis bond is one of an issue of $1,655,000 issued for the purpose of
providing funds in the ar,nunts and for the purpases as follows:
$132,000 for the purpose of paying the cost of
acquiring a fire engine;
$335,000 for the purpose ot paying the oost of
providing street isnprovements;
$524,000 for the purpose of paying the cost of
improving and extending the storm sewers of
the city;
$181,000 for the pt�pose of paying the cost of
itr�roving and extending the water mains of
the city;
$160,000 for the purpose of paying the cost of
oonstructi.ng a bridge in said city;
$ 73,000 for the purpose of paying the cost of
providing park improvesnents;
$250,000 for the purpose of paying the cost of
acquiring and i.�roving parking lots;
pursuant to and in all respects in compliance with Chapter 67 of the Wisconsin
Statutes and acts supplen�ntal thereto, and a resolution duly adopted by the City
Council of said city on 2•;arch 16, 1978.
This bond is registrable as to principal in accordance with the provisions
endorsed on ttie reverse side herec�f.
It is hereby certified and recited that all conditions, things and acts
required by law to e.xist, 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 bePn performed in due form and time as required by law; that
the indebtedness of said city, including this bond, does not exceed any limitation
.i�osed by law; and �nat said city has levied a direct annual irrepealable tax
sufficient to pay the in��rest hereon when it falls due and also to pay and
discharge the principa.l hereof at maturity.
IN �9ITNESS 4v'HF'�REOr the City of Oshkosh, by its City Council, has caused
this bond to be signed by its City Manager with his facsimilie signature, and
by its City Clerk, and its aorporate seal to be i�ressed hereon, and the
counons hereto attached -� be signed by said City Manager and City Clerk with
their res�ective facsimile signatures, and said officers, by the execution of this
bond, do adopt as and for their own official signatures their respective
facsimile signatures ap�aring on said coupons, as of the first day of May, 1978.
(facsinile signature)
City Clerk . City Manager
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(Form of Coupon)
No.
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On the first day of , 19 , the City of
Oshkosh, Wisconsin, will pay to bearer the arrr_�unt shown hereon in lawful money
of-the United States of America at
,
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or at
at the option of the holder, upon presentation and surrender of this coupon for interest
due that day on its Corporate Purp�se Bond, Series 1978 and dated May 1, 1978.
(facsimile signature) (facsimile signature)
City Clerk City Manager
(Provision for Registration)
The within bond rsay be registered in the narc�e of the 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 bl.ank
belaw, after which no ta�-isfer shall be valid unless made on said books at the
request of the registere3 h�lder or his attorney hereunto duly authorized and
similarly noted in sa?d ragistration blank belaa, but this bond may be discharged
from registration by be?��g transferred to bearer, after which it shall be
transferable by delivery but may be again registered as before. Such
registration shall not impair the negotiability by delivery of the coupons
attached tl� this bond.
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Date of Name of Address of Signature _
Registration Registered Holder Registered Holder of Registrar ,
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Section 4. Said bonds together with $595,000 PrcQnissoiy Notes, Series 1978
of said City shall be sold at public sale in the manner provided by law on or
about April 20, 1978. Notice of the sale of said bonds and Notes shall be
published once each week for two consecutive weeks in the official city ne�wspaper,
and in The Bond Buyer, Dublished in New York, New York. �'he last of each such
publications shall be at least 10 days prior to the sale date. Such notice shall
be in substantially the form provided in E�i.bit "A" attached hereto. The
Director of Ar3ministration shall prepare and distribute an Official Sta��rrent,
including an Official Sale Notice which shall be i.n substantially the form
provided in Exhibit "B" attached hereto.
Section 5. When said bonds shall have been sold, this City Council will
adopt proceedings so as to award said bonds, fix the interest rat�es thereon in
accordance with the bid accepted, and levy taxes to �et principal and interest
thereon at maturity as required by law.
Section 6. The �rincipal proceeds from the sale of said boncls shall be
used only as follaas:
$132,000 for the pui�pose of paying the cost of
acquiring a fire engi.ne;
$335,000 for the pur-t�ose of paying the cost of
providing street improverre_xits;
$524,000 for -�he purpose of paying the cost of
improving and extending the storm sewers of
tr'�e city;
$181,000 for the purpose of paying the cost of
itr�rov,�ng and extending the water mains of
the city;
$160,000 for the purpose of paying the cost of
co�ns�ructing a bridge in said city;
$ 73,000 for the purpose of paying the cost of
prozr ding park improvPSnents;
$250,OQ0 for the purpose of paying the cost of
acquiring and i�roving parki.ng lots ;
Section 7. Thz principal proceed.s of the sale of saic3 bonds shall be
devoted to and used with due diligence for the completion of the projects for
which said bonds are hereby authorized to be issued. This City Councii represents
and certifies that:
(a) the city has heretofore incurred (or expecfs to incur
within six months after delivery of said bonds} a substantial binding
u
obligation with respect to said projects; said binding obligation
co�rising con5truction and acquisition oontracts in the airr3tmt of
not less than 2-1/20 of the estimated total cost of said projects;
(b) this City Oouncil exoects that over 85� af the ex�ndable
proceed.s of said bonds including investme.nt proceeds will be
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expended on or before January l, 1981 for the nurpose of paying the
cost of said projects, said date being within three years following
the date of issue of said bonds;
(c) work on said projects has proceeded and is expected to
proceed with due diligence to cor�mletion;
(d) said projects have not been and are not ex�cted to be
sold or otherwise disposed of in whole or in part prior at the last
maturity of said bonds;
(e) all of the principal proceeds of said bonds are needed for
the purpose stated in the form of bond above set out, including
e.xpenses incidental to such purpose and to the issuance of said bonds;
and
(f) to the best of the knaaledge and belief of the City Council
there are no facts, estimates or circ�rstances that wc�uld materially
change the ronclusions and representations set out in this section.
This City Co�cil also certifies and further covenants with the purchasers and
holders of said bonds from ti� to tirr� outstanding that so Iong as any of said
bonds remain outstar:ding, rioneys on deposit in any .fund or accaunt a.n connectian
with said bonds, whether or not such m�neys were derived fran the proceeds af the
sale of said bonds or ir�n ar.�v other sources, will not be used i.n a manner which
will cause such bonds to be "arbitrage bonds" within the ireaning of Section 103(c)
of the Internal Revenue Ca?e of 1954 as a�nded, and any lawful regulations
promulgated or proposed -chereun3er, including Sections 1.103-13 and 1.103-14 of
the Income Tax RAgulations (26 CFR Part 1), as the sarr� presently exist, or
may from ti.�re to ti.� herea�ter be amended, su�plerr�nted, or revised. The City
Council reserves t'rie ri�t, however, to make any invest�nt of such rroneys
permitted by s-t�te law if, when and to the extent that said Section 103(c) or
regulations prorr,�l�ated thereunder shall be repealed or relaxed or shall be held
void by final decision of a court of competen-t jurisdiction, but only if any
investrn�nt made by viztue of such repeal, rela�tion or decision would not, in the
opinion of counsel of recognized co�etence in such matters, result in making the
interest on said bonds subject to federal inco:re taxation.
Adopted :�:arch 16 , 19 7 8.
Recorded March 16 , 1978,
City Clerk
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NY�tion was made by S I i� vS ^ 0 C K that said resolution
be adopted, and said m�tion was seconded by TEIC::�ILLER
After due consideration, the President put the question, and upon roll being
called, the follawing wted:
Attest:
Aye: Kutchera, Matner, Propp, Singstock, Teichmiller,
Schiefelbein (6)
Nay: None
The President thereupon cleclared said resolution duly adopted.
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(Other business)
Upon Frotion duly r�de, seconded and carried, the meet�ng was adjourned.
President
ty Clerk
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EXHIBIT B
tA
Resolution of March 16, 1978
OFFICIAL NOTICE OF SATF
$1,655,000
CITY OF OSHKOSH, WINNEBAGO COLTN`i'Y, WISCONSIN
C�ORPORATE PURPQSE BOND6
SERIES 1978
$595,000
CITY OF OSHKOSH, WINNEBAGO COUN`I'Y, WISC`ANSIN
PF�NIISSORY NOTES
SERIES 1978
NOTICE IS HEREBY GIVEI�I that the Gity of Oshkosh, Wisoonsin,� will receive sealed
bids only for the purchase of its Corporate Purr�ose Bonds, Series I978 and its
Promissory Notes, Series 1978, all or none, until 11:00 A.M., C.S.T., on Apri:l
20, 1978, at which ti.rre bid� will be publicly opened and announced at the Council
Chambers in the City Ha1I, Oshkosh, Wisconsin. Said bonds will be dated May 1,
1978, denomination $5,000, and will mature serially without option of prior
redemption on May 1, of each �f the years 1979 to 1993, inclusiv�; said notes will
be .dated Ma.y l, 1978, den�m,?..*�ation $5,000, and will mature serially without
option of prior redemption on May 1, of each of the years 1979 ta 1988, inclusive,
as follows:
��.. .. . ..� :• i.
. . . � -
$50,000
50,000
50,000
55,000
50,000
75,000
75,000
75,000
75,000
100,000
150,000
150,000
200,000
250,000
250,000
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
PROMISSORY NQ'I'ES
Par Amount Due
$ 25,000
25,000
25,000
45,000
75,000
75,000
75,000
75,000
75,000
100,000
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988.
,
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Exhibit B - continued
Said Coxporate Purpose Bonds and Prami.ssory Notes will be payable at a bank or banks, not
exceeding two, to be designated by fhe purchaser, not later than 4:00 P.M.,
C.S.T., on the date of the sale, and agreed to by the City. The bonds and notes
will be registrable as to principal. Interest on said bonds and notes will be
payable November 1, 1978, and semiannually thereafter.
�. . . �. � - • : • s.
Said bonds will be the direct general obligation of the City of Oshkosh,
Wisconsin, payable from tmlimited ad valorem taxes, and are to be issued for ttie
follc�wing pumose :
$143,000 for the pL�pose of paying the cost of
acqu..iring a fire engine;
$335,000 for the purpose of paying the cost of
� providing street improve�nts ;
$524,000 for the purpose of paying the cost of
itrg�roving and e�ending storm sewers;
$181,000 for the purpose of paying the cost of
impraving and extending water mains;
$160,000 for the purpose of paying the cost of
constructing a bridge;
$ 73,000 for the puL�ose of paying the cost of
prov �g park im�roveznents
$250,000 for the pur�ose of paying the cost of
acqu:�sing and improving parking lots.
Said notes will :�e the direct general obligation of the City of Oshkosh,
Wisconsi.n, payable fro�n imlimited ad valorem taxes, and are to be issued for the
follaaing purpose:
$595, 000. for t-h� puL�poses of acquiring small ec;uipment and
m�chi.�ery, improvements to the City Golf Course and
Club House thereon, acr�uisition of busses and
acquisition of and ir�roveirnnt of the City Mass
Transit System, and oonstruction.of sidewalks, all
pursuant to the provisions of Section 67.12(12� of
the Wisconsin Statutes.
RATE OF INTEREST AI`TD BASIS FOR At�1RD
Bidders are required to name the interest rate or rates the bonds and notes
are to bear, not to exceed sev�n per cent (7%) per ann�n, expressed in
multiples of one-twentieth of one t�r cent (1/20�of lo). Not more than five (5)
interest rates rn3y be snecified and a zero rate may not be named. F�petition of
a rate will not constitute an additional rate. Interest payable on any bond or
note on any interest payrrp_.rit dat� shall be represented by ane coupon only and all
bonds and notes of the same maturity shall bear the sarr� rate of intexest. No
i
Exhibit B - continued -3-
bid will be considered for less than par and accrued interest for all of said
bonds and notese Unless all bids are rejected, the bonds and notes will be _
awarded by the City Council on the sale date to the responsible bidder whose
bid results in the laaest net interest cost to the City which will be
detennu7ed by deducting the total arrount of any premitun bid from the total arrount
of in�rest on all of the bonds and notes from the date of said bonds and notes
to t�e respective maturity dates.
TAX E�'I'ION
In the opinion of bond coLmsel, anterest on the bonds and notes is exempt
as of the date of this notice from Federal income Taxes under presently existing
laws,� regulations, decisions and i.nterpretations.
OFr'ICIAL BID FORM AND GOOD FAITH CEIECK
Each bid must be accor�anied by a certified check, or a bank cashier's check,
drawn an a solvent bank or trust company in the airount of $45,000 payable to the
City Treasurer of the City of Oshkosh as a guarantee of good faith. The check of
the successful bidder will be retauled by the City as partial dam�ges, should
he fail to take up and pay for the bonds when ready. The good faith check of the
bidder whose proposal is accepted will be held uncashed until delivery of the
bonds or forfeiture, and the good faith checks of all unsuccessful bidders will
be returned promptly u�n u�e determinati.on of the highest bid. In the event of
the failure of the City to deliver said bonds and notes to the purchaser in
accordance wi_th the t�rrrs af this notice within 60 days after the date of sale,
said good faith check wi1�, at`the option of the purchaser, be returned promptly
to the purchaser. Eac.�'� b?d must be submitted on the Official Bid Form available
from the undersirned, must be for all said $1,655,000 aggregate principal amount
of bonds and $595,�J00 aggregate principal arrount of notes, and must be enclosed
in a sealed envelcroe addressed to the Director of Admini.stration, City of Oshkosh,
City Hall, Oshkosh, Wisconsin 54902 and m�rked "Bid for $1,655,000 Corporate Purpose
Bonds, Series 1978 and $595,000 Promissory Notes, Series 1978, of the City of
Oshkash."
�� �• • :• �.
The City of Oshkosh, will at its cx�m expense, provide the tmqualified anproving
opinion of Chapman and C�tler, Chicago, Illi.nois, covering the legality of the
bonds and notes, -fhe certified transcript, including a no-litigation certificate
dated as of the date of the delivery of the bonds and notes, and the printed bonds
a�.d -��t�s :yi'�h �`�z '_�,ca' : �:;L�ion �r�.z��c3 `her�on.
.
F�chibit B - continued -4-
If CUSIP nLUnbers are desired by the purchaser, the nurchaser shall bear
aIl exoer.ses in connnection therewith and the responsibilities for verifying the _
�
rnmibers, and must agree to accept delivery of the bonds and notes irrespective ,
of the accuracy of the CUSIP nint�bers printed thereon.
'Ihe bonds and notes are exoected tt� be ready for delivery within 40 days
after the salee Delivery in Chicago, Illinois, Milwauke�, Wisconsin, or New
York, New York, will be at the e�.nse of the City of Oshkosho �
The right is reserved to reject any and all bids and to waive informalities _
in the bid accepted.
RICHARD H. JANS�I
Director of Administration
r
. , .w
STATE OF t�7ISCONSIN )
) SS.
CUUNTY Or WINNEBAGO )
I, OONVERSE C. N�RKS, hereby certify that I am the duly qualified and
acting City Clerk of the City of Oshkosh, �aisconsin, and as such offic�.al
I further certify that attached hereto is a copy of �cerpts from the minutes
of the r,�eting of the City Council of said city held on March 16, 1978; that
I have �mpared said copy with the original minute record of said meeting in
my official custody; and that said copy is a true, correct and con�lete
transcript from said original minute record insofar as said original record relates
to $1,655,000 Corp�rate Purpose Bonds, Series 1978, of said city, dated May l,
1978. .
WITNF�S my official signature and the official seal af said city this
16 �y oi March, 1978.
( S E A L )
,
City Clerk -
�
EXEiIBIT A
NOTICE OF SALE
CITY OF OSHKOSH
t92NNEBAGO COUNTY, WISCONSIN
$1-,655,000 Corporate Purpose Bondst Series 1978
$595,000 Promissory Notes, Series 1.978
SEALED BIDS (all or none� will be received until 11:00 A.M., :
C.S.T., on _
Thur�day, April 20, 1978
in the Council Chambers in the City Ha11, at a maximum rate of 7°�. The
bonds are general obligations of the City issued for the purpose of
providin.g funds i.n the amounts and for the purposes as follows:
$132,000 for the purpose of paying the cost�of acqui�ing a
fire engine;
$335,000 far the purpose of paying the cost of providing
street improvemen�.s,
$524,000 for the purpose of paying the cost of improving and
extending storm sewers;
$181,000 for tne purpose of paying the cost of improving and
extending water :rains;
$160,000 for �he purpose of paying the cost of constructing
a bridge;
$73,000 for the nurpose of paying the cost of providing park
improvement�;
$250,000 for the purpose of paying the cost of acquiring and
improving parking lots.
The notes are general obligations of the City issued for the
purpose of acquiring equipment and machinery; golf course improvements;
sidewalks; and transportation s�rstem equipment and i.mpravement.
The bor_ds and notes are dated �iay 1, 1978 and will mature �
without optio:� of prior redemption on May 1 of each year as follows:
0
0
• \ �
�L�
L
$1,655,000
Cor��.orate Purpose Bonds,
Series 1978
Yea.r Atro�nt
1979 - 198i $ 50,000
1982 55,000
1983 50,000
1984 - 1987 75,000
1988 100,000
1989 - 1990 150,OOQ
1991 200,000
1992 - 1993 250,000
$595,000
� Promissory Notes,
Series I978
1979 - I981 $ 25,0�0
1982 45,000
1983 - 1987 75,000
1988 100,000
7�ie City will provide the unqualified approving legal opinion of Chapman
and Cutler and the printed bonds and notes at its expense. Delivery at
Chicago, Milwaukee, or N�w York will be at the expense of the Gity. The
Official Stater��t, Official Notice of Sale, and Official Bid Fonn may be
obtained from the undersigned, at the CCi..ty Hall, Oshkosh, 6�Tisconsin 54901,
Telephone 414/424-0281.
/s� _ RICEI�I�D H. JPNSEDI
Di.rector of Adrtiinistration
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