2006-252
RESOLUTION NUMBER 2006-252
RESOLUTION AUTHORIZING THE ISSUANCE OF $35,000 IN PROMISSORY NOTES
FOR SOFFIT REPAIRS AT THE HEDBERG PUBLIC LIBRARY
WHEREAS, Section 67.12(12) Wis. Stats., authorizes any Wisconsin municipality to
issue promissory notes as evidence of indebtedness for any public purpose as defined in Section
67.04(1)(b), Wis. Stats., and for general and current municipal expenses, including interest
thereon; and
WHEREAS, pursuant to Section 67.04(4), Wis. Stats., the legislature finds that
contracting of debt under Chapter 67, Wis. Stats., for any project constitutes a public purpose;
and
WHEREAS, the following public projects and purposes fall under the scope of Section
67.04(1)(b) AND 67.12(12), Wis. Stats.:
$35,000 to acquire, improve and maintain public buildings and grounds; and
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;
NOW, THEREFORE, Be It Resolved by the City Council for the City of Janesville that:
1. The City of J anesville may, pursuant to Section 67.12(12) Wis. Stats., issue up to
thirty-five thousand dollars ($35,000) in municipal promissory notes to finance
various public projects and purposes as follows:
$35,000 to acquire, improve and maintain public buildings and grounds;
2. Each promissory note so issued, plus interest, shall be repaid within ten (10) years
after the original date of the note pursuant to Section 67.12(12), Wis. Stats.
3. Each such promissory note issued shall constitute an indebtedness of the City of
Janesville.
Motion by: Williams
Second by: DeGarmo
Councilmember Aye Nay Pass Absent
Brunner X
Brien X
Williams X
Wellnitz, Tim X
Wellnitz, Tom X
DeGarmo X
Addie X
Je?ri Ann Wulf, City Clerk-Trea
APPROVWutP;7l
City Attorney
Proposed by:
Prepared by:
City Administration
Finance Administration