HomeMy WebLinkAbout56. 17-171 MARCH 28, 2017 17-171 RESOLUTION
(CARRIED 7-0 LOST LAID OVER WITHDRAWN )
PURPOSE: APPROVE INITIAL RESOLUTION AUTHORIZING NOT EXCEEDING
$5,510,000 GENERAL OBLIGATION BONDS OF THE CITY OF
OSHKOSH
INITATED BY: CITY ADMINISTRATION
BE IT RESOLVED by the City Council of the City of Oshkosh, Winnebago County,
Wisconsin, that there shall be issued general obligation bonds of said City in an aggregate
principal amount not exceeding $4,870,000 for the public purpose of laying out, opening and
widening streets and providing street improvements. For the purpose of paying the various
installments of principal of and interest on said bonds as they severally mature, prior to the
issuance and delivery of said bonds there shall be levied on all taxable property in said City a
direct annual irrepealable tax sufficient for that purpose.
BE IT FURTHER RESOLVED by the City Council of the City of Oshkosh, Winnebago County,
Wisconsin, that there shall be issued general obligation bonds of said City in an aggregate
principal amount not exceeding $640,000 for the for the public purpose of providing parks and
public grounds. For the purpose of paying the various installments of principal of and interest
on said bonds as they severally mature, prior to the issuance and delivery of said bonds there
shall be levied on all taxable property in said City a direct annual irrepealable tax sufficient for
that purpose.
Be It Further Resolved that the City Clerk is hereby directed to publish notice of adoption
of this Initial Resolutions, one time in the official city newspaper, not later than April 12, 2017,
such notice to be in substantially the form as follows:
OFFICIAL NOTICE TO ELECTORS
OF ADOPTION OF
INITIAL RESOLUTIONS
Initial resolutions were adopted at the regular meeting of the City Council of the City of Oshkosh,
Winnebago County, Wisconsin, on March 28, 2017, and promptly recorded, providing for the issuance
of general obligation bonds of the City in the amounts and for the public purposes, as follows:
AMOUNT PURPOSE
$4,870,000 streets and street improvements
640,000 parks and public grounds
For the purpose of paying the various installments of principal of and interest on the aforesaid
bonds as they severally mature, prior to their issuance and delivery there shall be levied on all taxable
property in the City a direct annual irrepealable tax sufficient for that purpose.
The bonds authorized to be issued by the various initial resolutions set out above, shall be issued
by the City of Oshkosh unless, before 4:00 P.M., on April 27, 2017, a petition is filed in the office of the
City Clerk by electors numbering at least ten percent (10%) of the votes cast for governor in the City at
the last general election requesting that the initial resolution be submitted to the electors.
Dated: March 28, 2017
/s/ Pamela R. Ubrig
City Clerk