2018-1521 RESOLUTION NO. 2018-1521
A proposed resolution to authorize the commitment of borrowing funds in 2018 for the
purchase of bleachers at the Rock Aqua Jays' stadium at Traxler Park.
WHEREAS, Traxler Park has been home to the Rock Aqua Jays water ski show team since the
team's inception in 1961; and
WHEREAS, the Rock Aqua Jays have interest in seeing improvements made to the stadium
area at Traxler Park to further their ability to be competitive in being awarded tournaments and
championship events in the future; and
WHEREAS, new bleachers would provide additional seating, increased safety, and accessibility
to the Rock Aqua Jays' stadium area; and
WHEREAS, the City Council asked the Rock Aqua Jays to contribute $20,000 of the $65,000
project cost; and
WHEREAS, the City Council intends to fund this project through the 2018 Note Issue with new
borrowed funds.
NOW, THEREFORE BE IT RESOLVED, by the Common Council of the City of Janesville that
they hereby approve and authorize the City Administration to expend funds not to exceed
$45,000 to fund the purchase of bleachers at the Rock Aqua Jays' stadium; and
BE IT FURTHER RESOLVED by the Common Council of the City of Janesville that:
1. This authorization commits the Common Council to include up to $45,000 in the 2018
tax exempt obligation promissory note issue for this purpose as permitted by the Internal
Revenue Code of 1986.
2. All above introductions and recitals are reiterated and incorporated herein by reference
as if fully set forth verbatim; and
3. The proposed purchase is hereby approved and the City Administration is fully
authorized to purchase for delivery to, and use by, the City of Janesville Parks Division, new
bleachers at Traxler Park. No funds from sources other than the funds identified above are, or
are expected to be, reserved, allocated on a long-term basis, or otherwise set aside by the City
of Janesville for this acquisition or project, except as permitted by the Internal Revenue Code of
1986, as amended. This declaration of official intent is consistent with the budgetary and
financial circumstances of the City of Janesville. The purpose of this Resolution is to satisfy the
"official intent requirement" of Treasury Regulation Section 1.150-2' and
4. The City Manager may make such amendments, decisions, and actions concerning this
Resolution and the bleachers as he may, from time to time, decide as necessary, desirable,
and/or in the public interest.
ADOPTED: March 26, 2018 Motion by: Consent
Second by: Consent
APPROVED: Councilmember Aye Nay Pass Absent
Conley X
Farrell X
Mark A. eitag, City Manager e Gruber X
Jorgensen X
ATTES P Marklein X
�� Williams X
_I r Wolfe X
David T. Godek, City Clerk-Treasurer
APPROVED AS TO FORM:
Wald Klimczyk, City Attorney
Proposed by: Parks Division
Prepared by: Parks Division