2007-369
RESOLUTION NUMBER 2007-369
RESOLUTION AUTHORIZING THE ISSUANCE OF $60,000 IN
PROMISSORY NOTES FOR FINANCING VARIOUS PUBLIC PURPOSES
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.:
$60,000 to construct landfills; 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 Janesville may, pursuant to Section 67.12(12) Wis. Stats., have up to sixty
thousand dollars ($60,000) in municipal promissory notes to finance various public projects and purposes
as follows:
$60,000 to construct landfills.
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.
Janesville.
Each such promissory note issued shall constitute an indebtedness of the City of
ADOPTED:
January 22, 2007
Motion by: Williams
Second by: Brunner
Councilmember Aye Nay Pass Absent
Brien X
Wellnitz, Tom X
Williams X
Brunner X
Wellnitz, Tim X
DeGarmo X
Addie X
APPROVED:
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ATTEST:
APPROVED AS TO FORM:
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City Attorney
Proposed by:
Prepared by:
City Administration
Administrative Services