2024-2276RESOLUTION NO. 2024-2276
A resolution authorizing the purchase of a new aerial fire apparatus and related
equipment.
WHEREAS, the Common Council intends to purchase a new aerial fire apparatus and the
necessary related equipment in 2028; and
WHEREAS, the Common Council intends to fund this project through the General Fund Note
Issue with newly borrowed funds in the amount of $3,172,497 in the form of the issuance of
tax-exempt general obligation promissory notes, as outlined in the following table:
General Fund Note Issue $3,172,497
Total Fire Apparatus Project Funding $3,172,497
WHEREAS, such above proposed public projects and purposes and the issuance of such
promissory notes will be beneficial to the City and in the best interest of the community.
BE IT FURTHER RESOLVED by the Common Council of the City of Janesville that this
authorization commits the Common Council to include $3,172,497 in tax exempt obligation
promissory note issue for this public purpose as permitted by the Internal Revenue Code of
1986. This declaration of official intent to reimburse the original expenditure with part of the
proceeds from the reimbursement bond is consistent with the budgetary and financial
circumstances of the City. The purpose of this Resolution is to satisfy the “official intent”
requirement of Treasury Regulation 26 CFR Section 1.150-2
NOW, THEREFORE, BE IT RESOLVED, by the Common Council of the City of Janesville that:
1. All above recitals are reiterated and incorporated herein as if fully set forth verbatim; and
2. The proposed purchase is hereby approved and the City Administration is fully authorized
to immediately purchase for prompt delivery to, and use by, the City of Janesville Fire Department
a new aerial fire apparatus and necessary related equipment, and to take actions necessary to
provide funding in the manner set forth above but not to exceed $3,172,497; No funds from
sources other than the notes or available funds identified above are, or are expected to be,
reserved, allocated on a long-term basis, or otherwise set aside by the City of Janesville for this
acquisition or project, except as permitted by the Internal Revenue Code of 1986, as amended.
This declaration of official intent is consistent with the budgetary and financial circumstances of
the City of Janesville. The purpose of this Resolution is to satisfy the “official intent requirement”
of Treasury Regulation Section 1.150-2.
ADOPTED: October 28, 2024
APPROVED:
Kevin M. Lahner, City Manager
ATTEST:
Lorena Rae Stottler, City Clerk-Treasurer
APPROVED AS TO FORM:
Wald Klimczyk, City Attorney
Proposed by: Fire Department
Prepared by: Fire Department
Motion by: Consent
Second by: Consent
Councilmember Aye Nay Pass Absent
Burdick X
Jackson X
Marshick X
Miller X
Neeno X
Squire X
Williams X
2024-2276
Final Audit Report 2024-10-29
Created:2024-10-29
By:Carri Salus (salusc@ci.janesville.wi.us)
Status:Signed
Transaction ID:CBJCHBCAABAAQBposNZiWxRUpVyZ1P9CZbu81tHDIXm_
"2024-2276" History
Document created by Carri Salus (salusc@ci.janesville.wi.us)
2024-10-29 - 8:07:22 PM GMT
Document emailed to Kevin Lahner (lahnerk@janesvillewi.gov) for signature
2024-10-29 - 8:07:25 PM GMT
Document emailed to Lorena Stottler (stottlerl@janesvillewi.gov) for signature
2024-10-29 - 8:07:25 PM GMT
Email viewed by Kevin Lahner (lahnerk@janesvillewi.gov)
2024-10-29 - 8:12:50 PM GMT
Document e-signed by Kevin Lahner (lahnerk@janesvillewi.gov)
Signature Date: 2024-10-29 - 8:13:52 PM GMT - Time Source: server
Email viewed by Lorena Stottler (stottlerl@janesvillewi.gov)
2024-10-29 - 10:11:29 PM GMT
Document e-signed by Lorena Stottler (stottlerl@janesvillewi.gov)
Signature Date: 2024-10-29 - 10:11:39 PM GMT - Time Source: server
Agreement completed.
2024-10-29 - 10:11:39 PM GMT