2019-1648 RESOLUTION NO. 2019-1648
A resolution authorizing funding for creating an operating business plan and for the schematic design
of an Indoor Sports Complex
WHEREAS, the Common Council previously authorized funding and promissory note borrowing in 2018 for a
feasibility study for a potential Indoor Sports Complex in Council File Resolution No. 2018-1538; and
WHEREAS, the Common Council hereby intends to authorize additional borrowing and funding to further study
a potential Indoor Sports Complex through the development of an operating business plan and for the
schematic designs with cost estimates for up to four (4) potential sites in the City; and
WHEREAS, the Common Council intends to fund a portion of the total costs of both the creation of an
operating business plan and the schematic design creation as part of the 2019 General Fund Note Issue with
new borrowed funds in an amount not to exceed Twenty Five Thousand and 00/100 Dollars ($25,000.00) in
2019 in the form of the issuance of tax exempt general obligation promissory notes; and
WHEREAS, the Janesville Area Convention and Visitors Bureau (JACVB) committed to matching the City's
portion of the funding, for a total project cost as set forth in the following table:
2019 City General Fund Note Issue $25,000
JACVB Funding $25,000
Total Funding for Creation of Business Plan and $50,000
Schematic Design of an Indoor Sports Complex
and,
WHEREAS, such above proposed public projects and purposes, and the issuance of such promissory notes
and use of such borrowed monies in 2019, both will be beneficial to the City and in the best interest of the
community.
NOW, THEREFORE, BE IT RESOLVED, by the Common Council of the City of Janesville that:
1. All above recitals are reiterated and incorporated herein as if fully set forth verbatim; and
2. The proposed borrowing, City funding, and City expenditures are each hereby approved and the City
Administration is fully authorized to immediately proceed with vendor selection, expenditures in anticipation of
borrowing and the development and creation of: (A) an operating business plan, and (B) a schematic design of
an Indoor Sports Complex; and the City Manager is further authorized to take actions that he deems necessary
and/or desirable to effectuate the intent of this resolution, including, but not limited to, including an amount up
to but not exceeding the Twenty Five Thousand and 00/100 Dollars ($25,000.00) City portion of the funding in
the 2019 City promissory note issue; and no funds from sources other than the Notes identified above are, or
are expected to be, reserved, allocated on a long-term basis, or otherwise set aside by the City for these two
public purposes specifically set forth and described above, except as permitted by the Internal Revenue Code
of 1986, as amended. This declaration of official intent to borrow 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.
ADOPTED: April 22, 2019 Motion by: Wolfe
Second by: Williams
APPROVED: / Councilmember Aye Nay Pass Absent
Conley X
Farrell X
Mark A. r itag, City Manager Gruber X
Marklein X
ATTES . Williams X
Wolfe X
Vacant
D id T. Godek, City Clerk-Treasurer
APPROVED AS TO FORM:
Wald Klimczyk, City Attorney
Proposed by: Neighborhood & Community Services
Prepared by: City Manager's Office and City
Attorney