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Home My WebLink About29214 / 77-07# � NOVEMBER 17, 1977 RESOLUTION Resolutian No. 2 �� There will �e a Resolutzon correcting 000.d� S�ptember 22, la��, which authorized the issuance of a$585, Pri�rr��ssox1� 67.12(12) Note. �-; `" � . 1 :. _ C: _ �7� uJi:�i1��LiJ �� .� r� G :^ . �._ . _. �; !',� < y. i;) ��- n �. , � ; ,. J n� � � � , F- o-; �r � .� . . . j , : > The City Council of the City of Oshkosh, Winnebago County, Wisconsin, met in regular, open, public session at its regular meeting place on November 17, 1977, at 7:00 o'clock P.M., with the following members present: Council Members: Kutchera, Don H.; Mather, James .A.; Moser, Robert H.; Propp, Kathleen M.; Singstock, George N.; Teichmiller, Bernice; Schiefelbein, Ken R. and the following members absent: NONE * � � (Other business) The following resolution was introduced by one cou�cilmember and was read in full, and pursuant to motion made by Singstock and seconded by Moser was adopted by the following vote: Aye: Mather, Moser, Propp, Singstock, Schiefelbein. (5) Nay: Kutchera, Teichmiller (2) RESOLUTION amending a resolution entitled "Resolution determining to borrow $585,000 and to issue to the lender Promissory Notes, Series 1977-A, of the City of Oshkosh, Wisconsin, in such amount, providing details, prescribing the form of notes and levying taxes." WHEREAS, this City �ouncil, �n September 22, 1977, adopted a resolution entitled "Resolution determining to borrow $585,000 and to issue to the lender Promissory Notes, Series 1977-A, of the City of Oshkosh, Wisconsin, in such amount, providing details, prescribing the form of notes and levying taxes" (the "Resolution of September 22, 1977"); and WHEREAS, the purchaser of the Fromissory Notes awarded by the Resolution of September 22, 1977 has requested that the notes be of denomination and form different from that provided for in said :^esolution; and WHEREAS, it will be of �eriefit t� t�e purchaser and to the City of Oshkosh to amend the Resolution of September 22, 1977 in accordance with the request of the purchaser; NOW, THEREFORE, Be It Resolved that the Resolution of September 22, 1977, the complete title of which is set forth in the preamble hereto, shall be amended as follows: SECTION l. Section 2 of the Resolution of September 22, 1977 is hereby amended to read as follows: "Section 2. Said notes shall be designated "Promissory Notes, Series 1977-A", shall be payable to bearer, shall be dated October 1, 1977, shall be in the denomination of $5,000 each, shall be numbered 1 to 117, inclusive, shall mature as to principal in installments without option of prepayment on October 1 of each of the years, and f�P r� � shall bear interest payable 4s�ab.�. 1, 1978 and semiannually therafter as follows: -2- Principal $ 25,000 30,000 30,000 70,000 70,000 70,000 70,000 70,000 70,000 80,000 Maturity 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 Interest 5.25� 5.25q 5.25� 3.90� 3.90% 4.00% 4.10% 4.20� 4.25% �.35q Said notes shall be signed by the City Manager of the City of Oshkosh and by the City Clerk, and sealed with the corporate seal of said city. Interest upon said notes shall be evidenced by coupons thereto attached, such coupons to be signed by said City Manager and City Clerk with their facsimile signatures, and such officers shall, by execution of said notes, adopt as and for their own proper signa- tures their respective facsimile signatures appearing on said coupons. Both principal of and interest upon said notes shall be paid directly to t�e bzarer by the Treasurer of the City of Oshkosh in lawful money of the United States of America." SECTION 2. Section 3 of the Resolution of SepteMber 22, 1977 is hereby amended to read as follows: "Section 3. Said notes shall be in substantially the follow- ing form, the omissions to be appropriately completed when the notes are prepared: -3- ; N0. (,F�rm of Note) UNI2'ED STATES OF AMERICA State of Wisconsin County of Winnebago City of Oshkosh PROMISSORY NOTE, SERIES 1977-A � KNOW ALL MEN BY THESE PRESENTS: That the City of Oshkosh, in the County of Winnebago, State of Wisconsin, hereby acknowledges itself to owe and for value received promises to pay to bearer, the principal sum of Five Thousand Dollars ($5,000) on the first day of October, 19 with interest at the rate of hundredths per cent ( �) per annum on the unpaid principal from the date hereof until the principal amount shall have been fully paid, such interest being payable only upon presentation and surrender of the interest coupons attached hereto as they severally mature. Both principal hereof and interest hereon are hereby made payable in lawful money of the United States of America at the office of the City Treasurer in the City Hall, Oshkosh, Wisconsin. For the prompt payment of this note with interest hereon as aforesaid and for the levy and collection of taxes sufficient for that purpose, the full faith, credit and resources of the City of Oshkosh are hereby irrevocably pledged. This note is one of an issue of $585,000, all of like date, issued to evidence the indebtedness incurred by the borrowing of money in such amount for the purpose of paying the cost of providing funds for the acquisition of industf°ial sites, pursuant to and in all respects in compliance with Section 67.12(12) of the Wisconsin Statutes and a resol- ution adopted by the City Council of said city on September 22, 1977, and entitled: "RESOLUTION determining to borrow $585,000 and to issue to the lender Promissory Notes, Series 1977-A, of the City of Oshkosh, Wisconsin, in such amount, providing details, prescribing the form of notes and levying taxes", as amended on November 17, 1977• -4- It i� ?��re:�y certifi �� << �:--!: recited that all conditions, things and acts required by lakT to exist, to be or to be done precedent to and in the issuance of this note have been, have existed and have been performed in due form and time; that the indebtedness of said city, including this note, does not exceed any limitation imposed by law; and that said city nas levied a�irect annual irrepealable tax sufficient to pay the interest hereon when it becomes due and also to pay the principal hereof at maturity. IN TESTIMONY WHEREOF, the City of Oshkosh, by its City Council, has caused this note to be signed by its City Manager and by its City Clerk, and its corporate seal to be impressed hereon, and the coupons hereto attached to be signed by said City Manager and City Clerk with their respective facsimile signatures; and said officers by the execution of this note do adopt as and for their own official signatures their respective facsimile signatures appearing on said coupons, all as of the first day of October, 1977. (Seal) City Clerk City Manager (Form of Coupon) No. � On the first day of , 19_, the City of Oshkosh, Wisconsin, will pay to bearer the amount shown hereon in lawful money of the United States of America at the office of the City Treasurer in the City Hall, Oshkosh, Wisconsin, upon presentation and surrender of this coupon, for interest due that day on its Promissory Note, Series 1977-A, dated October l, 1977, No. (facsimile signature) (facsimile signature) City Clerk City Manager -5- SECTION 3. All other secticsris cf the Resolution of September 22, 1977 are hereby ratified in full. Adopted November 17 , 1977. ReCOrded November 17 , 1977• Attest: ity Clerk * * � (Other business) President Upon motion of Council Member Moser , seconded by Council Member Propp , and unanimously adopted, the City Council adjourned. Attest: City Clerk � President � STATE OF WISCONSIN ) ) SS. COUNTY OF WINNEBAGO ) I, CONVERSE C. MARKS, hereby certify that I am the duly qualified and acting Clerk of the City of Oshkosh, Wisconsin, and as such official I further certify that attached hereto is a copy of excerpts from the minutes of the meeting of the City Council of said city held on Novernber 17, 1977; that I have compared said copy with the original minute record of said meeting in my official custody; and that said copy is a true, correct and complete tran�cript from said original minute record insofar as said original record relates to $585,000 Promissory Notes, Series 1977-A, of said city dated October 1, 1977. I further certify that a true and correct statement of each step or proceEding had or taker. to date in connection with the author- ization of said notes has been recorded by me in a separate record book as required by law. WITNESS my official signature and the seal of said city this 18th day of November, 1977. 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