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HomeMy WebLinkAbout34793 / 88-490 The City Council of the City of Oshkosh, Winnebago County, Wisconsin, met in regular open, public session at its regular meeting place on March 17, 1988, at 7:00 o'clock P.M., with the following members present: Kathleen M. Propp, Donald W. Pressley, James A. Mather, Thomas J. Binner and Floyd R. Chapin and the following members absent: Don H. Kutchera and Killian G. Spanbauer • • . a (Other Business) The follawing resolution was introduced by Binner and read in full: RESOLUT[ON direeting the advertisement and sale of $335,000 Promissory Notes, Series 1988-A, $3,200,000 Cor- porate Purpose Bonds, Series 1988-A, and $7,500,000 Tax and Revenue Anticipation Notes, Series 1988, of the City of Oshkosh. WHEREAS, it is necessary that Funds be raised by the City of Oshkosh, Winnebago County, Wisconsin (the "City") in the amount of $335,000 for the purpose of providing for prajects undertaken for public purposes; and WHEREAS, cities are authorized by the provisions of Section 67.12(12) of the Wiswnsin Statutes to borrow money and issue promissory notes for the purpose aforesaid; and WHEREAS, it is considered necessary and desirable by the City Council of the City that the City borrow an aggregate amount of $3,200,000 for the purpose of providing funds for public projects, as set out in various initial resolutions adopted on February 16, 1988; and WHEREAS, it is desirable to combine the bonds authorized by the aforesaid initial resolutions into one issue, as permitted by Section 67.05(13), Wisconsin Statutes; and WHEREAS, it is considered necessary and desirable by the City Council ot the City that the City borrow an aggrega[e principal amount of $7,500,000 for the pur- pose of anticipa[ing the receipt of certain taxes and revenues to be paid to the City during the year 1988� and WHEREAS, it is considered desirable to offer all the aforesaid securities at one time in order to obtain the best possible terms for the City; NOW, THEREFORE� Be It Resolved by the City Council of the City of Oshkosh, Winnebago County, Wisconsin, as follows: Section 1. For the purpose of offering for sale $335,000 aggregate principal amount of Promissory Notes, Series 1988-A; $3�200,000 aggregate principal amount of Corporate Purpose Bonds, Series 1988-A; and $7,500,000 aggregate principal amount of Tax and Revenue Anticipation Notes� Series 1988, the Finance Director of the City is hereby authorized to cause appropriate notices of the sale thereof to be published in The Oshkosh Northwestern, published in Oshkosh, Wisconsin, and in The Bond Buyer published in New York, New York, as a Class 1 notice not later than April 8, 1988. The Finance Director of the CiTy shall also cause to be prepared and distributed an Official Statement, including an Offieial Notice of Sale. Section 2. After bids shal] have been received for said Promissory Notes, Corporate Purpose Bonds and Tax and Revenue Anticipation Notes, this City Council will adopt additional proceedings to award the same to the best bidder, prescribe the terms thereo£, and the forms of mte and bond and, if appropriate, levy taxes in the specific amount necessary to pay the principal thereof and interest thereon. _y_ Upon motion of Binnel' , seconded by ProDD , the foltowing members voted: Aye: Propp, Pressley, Mather, Binner, Chapin Nay: None Absent or not voting: Kutchera, Spanbauer Adopted March 17, 1998. Appraved Marchl7 , 1988. Recorded March 17, 1988. ���P�� — Mayor Attest: ���� , � C�_ �� � �� � City Clerk -3- # # i (Other Business) There being no further business to come before the City Council it wes moved by prPasley , seconded by _ Propp , and un- animously carried that the City Council adjourn. ������ �-/� Mayor Attest: �F12r�2� �� ��/�,�1l:7/ City Clerk -4- STATE OF W[SCONSIN ) ) SS: COUNTY OF WINNEBAGO) [, DONNA 0. SERWAS, hereby certify that I am the duly qualified and acting City Clerk of the City of Oshkosh, Winnebago County, Wisconsin, and es such ofPicial I further certify that attached hereto is a copy of excerpts from the minutes of the meeting of the City Cauncil of said City held on March 17, 1988; that 1 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 transcript from said original minote record insofaz as said original record relates to the proposed $3,200,000 Corporate Purpose Bonds, Series 1988-A, $335,000 General Obligation Promissory Notes, Series 1988-A; and $7,500,000 Tas and Revenue Anticipation Notes, Series 1988 of said City. WITNESS my official signature and the seal of said City this i8th day of March, 1988. �� ,.0� L " L'�� City Clerk (SEAL) na s � � no m � N .'o -i l � 3l � C� . .. p � � m Z � p .. _. YG v N A � N i0 aa o � o � v' m o �o °r �n v m � ti � v O � � � � O d �° �a � ♦ 0 �. � � w