2002-259ATTACHMENT I
RESOLUTION NO. 2002-259
A RESOLUTfON REA££OCATING PROCEEDS OF PROMISSORY
NOTE ISSUE- SERIES 2000
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 City has previously issued its $7,620,000 General Obligation Promissory
Notes, Series 2000 (the "2000 Notes"), which included $110,000 allocated to acquire
telecommunications equipment that is no longer needed for such purpose; and
WHEREAS, it is proposed that said unneeded amounts be reallocated to acquire
information technology equipment;
NOW, THEREFORE BE IT RESOLVED by the Common Council of the City of
Janesville that $110,000 of the proceeds of the 2000 Notes is hereby reallocated to acquire
information technology equipment.
ADOPTED: May 28, 2002
~teven E. ~he~ffer, City Ma~k-er
ATTEST:
J~ Ann X~Vulf, City Clerk-Treasu~
APPROVED AS TO FORM:
Proposed by:
Prepared by:
City Administration
Finance Administration
MOTION BY: Williams
SECOND BY: Damron
COUNCILMEMBER AYE NAY PASS ABSENT
STEEBER X
MURPHY X
DAMRON X
WILLIAMS X
DEGARMO X
BRIEN X
O'LEARY X