2017-1408 RESOLUTION NO. 2017-1408
RESOLUTION AUTHORIZING TRANSFERS OF CATEGORY OF PROCEEDS OF THE CITY
OF JANESVILLE, WISCONSIN GENERAL OBLIGATION PROMISSORY NOTES, SERIES
2016
WHEREAS, the City of Janesville (the "City") has previously issued its $26,790,000
aggregate principal amount of General Obligation Promissory Notes, Series 2016 (the "Notes")
pursuant to File Resolution No. 2016-1304 adopted on May 9, 2016 (the "Initial Resolution"),
File Resolution No. 2016-1305 adopted on May 23, 2016 (the "Details Resolution") and File
Resolution No. 2016-1307 adopted on June 27, 2016 (the "Award Resolution" and, collectively
with the Initial Resolution and the Details Resolution, the "Resolutions"); and
WHEREAS, the City now finds it necessary to make a change to the categorization of
Note proceeds as set forth in the Resolutions;
NOW, THEREFORE, Be It Resolved by the City Council for the City of Janesville that:
1. The following transfers of purposes for unexpended proceeds of the Notes is
hereby authorized:
(a) $50,000 to be moved from the category "to acquire, improve and maintain
parks and public grounds" to the category "to acquire, improve, and maintain public buildings
and grounds."
(b) $1,375,000 to be moved from the category "to acquire, improve and
maintain parks and public grounds" to the category "to construct and improve streets."
ADOPTED: April 24, 2017 Motion by: Gruber
Second by: Conley
APPROVED: / Councilmember Aye Nay Pass Absent
Conley X
Farrell X
Mark 'reitag, City Manager r Gruber X
Jorgensen X
AT Marklein X
.. • Williams X
• A' 7, Wolfe X
avid . odek, City lerk-Treasurer
APPROVED AS TO FORM:
Wald Klimczyk, City Attorney
Proposed by: Finance Office
Prepared by: Finance Office