2010-731 RESOLUTION NO. 2010-731
A Resolution authorizing the City Administration to expend funds to construct a
land rink impoundment system at Traxler Park.
WHEREAS, the City of Janesville constructs a land rink each winter at Traxler Park; and
WHERAS, the City desires to construct a land rink impoundment system to better the
efficiency of the land rink operations for the 2010 -2011 outdoor ice skating season; and
WHEREAS, the Common Council finds it reasonable to authorize funds of $45,000 for
the land rink system; and
WHEREAS, these costs will be incurred by the City in connection with this project prior
to the issuance of the 2010 tax exempt general obligation promissory notes, and the
City reasonably expects to reimburse those costs with proceeds from the notes; and
WHEREAS, the Common Council of the City of Janesville find that this funding is in the
best interest of the City of Janesville and benefit to the community; and
NOW, THEREFORE, BE IT RESOLVED, by the Common Council of the City of
Janesville that they hereby approve and authorize the City Administration to take
actions necessary to provide funding for the land rink impoundment system; No funds
from sources other than the 2010 tax exempt general obligation promissory note issue
are, or are expected to be, reserved, allocated on a long -term basis, or otherwise set
aside by the City for the project, except as permitted by the Internal Revenue Code of
1986. This declaration of official intent is consistent with the budgetary and financial
circumstances of the City. The purpose of this Resolution is to satisfy the "official intent
requirement" of the Treasury Regulation Section 1.150 -2; and
BE IT FURTHER RESOLVED, that the City Manager and his designee(s) on behalf of
the City of Janesville, is /are hereby authorized and empowered to enter into additional
agreements, record, file and /or make minor modifications and /or amendments to any
and all documents, papers, forms and agreements, and to make whatever other actions
as the City Manager may determine, from time to time and any time, necessary and /or
desirable to effectuate the intent of this Resolution and /or project(s).
t
ADOPTED: September 13, 2010 Motion by: Steeber
Second by: Truman
APPRO D � Councilmember Aye Nay Pass Absent
� j er
i� Brunner X
ric J` �' City Manager
McDonald X
Perrotto X
ATTEST: Rashkin X
Steeber X
.can Ann Wulf, City Clerk - Treasu - Truman X
Voskuil X
APPROVED TO FORM:
Wald Klimczyk, ity Attorney
Proposed by: Parks Division
Prepared by Management Assistant