HomeMy WebLinkAbout27857 / 75-07OCT 1 61975
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RESOLUTION
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RESOLUTION PERTAINING TO REST.RICTIONS ON TEriPOi�ARY
BORROWING - OPPOSING ASSE�II.',Y BILL 279
WHEREAS, Assembly Bill 279 would res�rict the use of borrowing
by municipaliti.es througk� promissor�r not�s repealing the provisions
of the present law which authorizecl the use of such notes for
"equi.pment or machinery or for general and current municipal expenses"
only if ten: percent c�� t:he �l�c�o�� p�t�.tion for a�efezendum, and
�RF'�S e'� �±�c> r ��.., • -
f .� y.1un 1.Cli�lll�Cn7 �l!�.�
f�r t��.s �qui..pm�nt �r s�x�i�es unless
"prov�.ded for" , axi�
contracts cannot k�e signed
i-h� money is avail.able or
��� � t�� �z��y Q� Osh}eoski a� ��]. � as �?rac�iG�lly every
mun.�ci�aality o� the s�at� ha� used tYii.s procedure of autho�izir�g
tempo�a�:� borrow�;n� ���,�;�� i�,� ��� p��o�e c�t h�9ving �h� moriey
"pravided fo�", and
�REAS, ma.ny Q�he� munici.pal,�t�es, 9,ncl.udi.rig Oshk6sh, usually
throughout the year go to temparary Lorrowing sr� that at th� end of
the year these ma�ters can b� sold in an� ��e�n,d i.�r�ue, and
WHEREAS, emergenc� measures could c�me up cz�rinc� the budget
year ur�for�seen wh�ri th� budget is a�o�tec3 usually 14 to 15 months
before th� cl.a�e of the fisca.l year, such as ener.gy price increases
and arbitration of municipal employ�� cJntracts whicrz the legisla�are
has made mandatory upon municipaliti �s, aa�d is now exparrc�ing and
prohzbiting this type of activity which would bring many rnunicipalities
to fisGal chaos, an�
`�IF�ZEAS, this pro�zsian at or�e ti.m� was included in th� budge�
bi21 ��d was remov�d frc�rra �he rud�A+ ��1� ; anc�
WHERFAS , Asse�nbly Bi1.1 2 i9 comes in as a spearat� ?r�easure
�saving it pexman�ntly in �he 1_aw whEreas if a.t stays in the budget
s�iZl. i,t is of a bienn�um fea�tu�°e,
NOW, THEREFORE, BE IT �ESOLVED by the Cor-lmon Council o� the
City o� Oshkosh concurring that �.n �riginal attested co�y of this
resolutaon be forwarded to S�ate Sen�.tor Gary Go�rke �nd Ft��presenta-
tives �ti.chard Flintrog and Gordon Br��d.Ie�T, as well as our sister
�ities in the Fox River Valley point�.ng out the fiscal i�r�sponsibility
to them c�f this measure aa wE1:L as a copy to the Z,eac�ue of Wisron�in
�iunici.pali,ties who hav� of�'icial.ly �a1�c�n the �osition of oppositian
to this meas�ure and �. co�� o� �he T��sconsi ., , i 3es. 1
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