2004-116
Exhibit I
RESOLUTION NO. 2004-116
RESOLUTION AUTHORIZING THE ISSUANCE OF $6,325,000 GENERAL
OBLIGATION BONDS, SERIES 2004, ANDPROVIDING THE DETAILS THEREOF
Be it resolved by the City Council of the City of Janesville, Wisconsin, as follows:
Section 1. Authority and Purpose. This resolution is adopted pursuant to Chapter 67
of the Wisconsin Statutes to authorize the issuance of bonds for the following improvements:
(a) $3,600,000 to acquire land for community development;
(b) $330,000 to construct and improve streets;
(c) $2,395,000 to refund outstanding obligations of the City.
The foregoing improvements or purposes are each hereby authorized to be made or
undertaken by the City of Janesville, Wisconsin. For the purpose of paying principal of and
interest on the bonds, there is hereby levied on all the taxable property in the City a direct,
annual, irreparable tax sufficient for that purpose.
Section 2. Authorization and Terms of Bonds. To meet part of the estimated cost of
the improvements or purposes described in Section 1 of this resolution, there is hereby
appropriated the sum of $6,325,000. For the purpose of financing said appropriation, general
obligation bonds of the City shall be issued and sold in an aggregate principal amount of
$6,325,000, shall be designated "General Obligation Bonds, Series 2004" and shall be issuable in
the denominations of $5,000 or any integral multiple thereof. The bonds shall be numbered
consecutively from I upwards in order of their issuance and may bear such other identifying
numbers or letters as may be useful to facilitate the registration, transfer and exchange thereof.
Each bond shall be dated as of the interest payment date next preceding the date of issuance
thereof, except that (a) if such date of issuance shall be prior to the first interest payment date,
said bond shall be dated as of a date to be established by the subsequent action of the City
Council, (b) if such date of issuance shall be an interest payment date, said bond shall be dated as
of such interest payment date, or (c) if interest due on said bond shall not have been paid in full,
then, notwithstanding any of the foregoing provisions, said bond shall be dated as of the date to
which interest has been paid in full on said bond. The bonds shall mature and bear interest on
the dates and in the amounts established by subsequent action of the City Council.
The principal of and premium, if any, on the bonds shall be payable in lawful money of
the United States of America at the principal corporate trust office of the bank, trust company or
national banking association designated in Section 7 of this resolution, as bond registrar, or at
any additional or successor paying agent or fiscal agent designated by the City pursuant to
Section 67.10(2), Wisconsin Statutes. Interest on the bonds shall be payable in lawful money of
the United States of America on each interest payment date to the registered owners of record
thereof appearing on the registration books maintained by the City for such purpose at the
principal office of the bond registrar, as of the close of business on the fifteenth day of the
calendar month next preceding the applicable interest payment date. Interest on the bonds shall
be paid by check or draft mailed to such registered owners at their addresses appearing on the
registration books.
The bonds shall be subject to redemption prior to maturity as provided by subsequent
action of the City Council.
In the event of the redemption of less than all the bonds of like maturity, the aggregate
principal amount thereof to be redeemed shall be $5,000 or an integral multiple thereof, and the
bond registrar shall assign each bond of such maturity a distinctive number for each $5,000
principal amount of such bond and shall select by lot from the numbers so assigned as many
numbers as, at $5,000 for each number, shall equal the principal amount of such bonds to be
redeemed. The bonds to be redeemed shall be the bonds to which were assigned the numbers so
selected, provided that only so much of the principal amount of each bond shall be redeemed as
shall equal $5,000 for each number assigned to it and so selected.
Notice of the redemption of bonds shall be mailed not less than 30 days nor more than
60 days prior to the date fixed for such redemption to the registered owners of bonds to be
redeemed at their last addresses appearing on said registration books. The bonds or portions
thereof specified in said notice shall become due and payable at the applicable redemption price
on the redemption date therein designated, and if, on the redemption date, moneys for payment
of the redemption price of all the bonds or portions thereof to be redeemed, together with interest
to the redemption date, shall be available for such payment on said date, then from and after the
redemption date interest on such bonds or portions thereof shall cease to accrue and shall become
payable. If there shall be drawn for redemption less than all of a bond, the City shall execute and
the bond registrar shall authenticate and deliver, upon the surrender of such bond, without charge
to the owner thereof, for the unredeemed balance of the bond so surrendered, bonds of like
maturity and of the denomination of$5,000 or any integral multiple thereof.
The bonds may be initially issued in temporary form and shall be exchanged for
definitive printed bonds as soon as possible. The temporary bonds shall be executed as provided
herein and shall be in substantially the form set forth in Section 5 hereof.
Section 3. Execution and Authentication of Bonds. The bonds shall be executed in the
name of the City by the manual or facsimile signatures of its City Manager and City Clerk, and
the corporate seal of the City, or a facsimile thereof, shall be thereunto affixed, impressed or
otherwise reproduced thereon.
In case any officer whose signature, or a facsimile of whose signature, shall appear on
any bonds shall cease to hold such office before the issuance of the bonds, such bonds shall
nevertheless be valid and sufficient for all purposes, the same as if the person whose signature, or
a facsimile thereof, appears on such bonds had not ceased to hold such office. Any bond may be
signed, sealed or attested on behalf of the City by any person who, on the date of such act, shall
hold the proper office, notwithstanding that at the date of such bond such person may not have
held such office. No recourse shall be had for the payment of any bonds against any officer who
executes the bonds.
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The bonds shall bear thereon a certificate of authentication executed manually by the
bond registrar. No bond shall be entitled to any right or benefit under this resolution or shall be
valid or obligatory for any purpose until such certificate of authentication shall have been duly
executed by the bond registrar.
Section 4. General Obligations. The full faith and credit of the City are hereby
irrevocably pledged to the punctual payment of the principal of and interest on the bonds. The
bonds shall be direct and general obligations of the City, and the City shall be obligated to levy
ad valorem taxes upon all the taxable property in the City for the payment of the bonds and the
interest thereon, without limitation as to rate or amount.
Section 5. Form of Bonds. The bonds shall be issued as fully registered bonds and shall
be substantially in the following form, the blanks to be appropriately completed when the bonds
are printed:
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[FORM OF BOND]
United States of America
State of Wisconsin
County of Rock
CITY OF JANESVILLE
GENERAL OBLIGATION BOND
SERIES 2004
REGISTERED NO.
REGISTERED $
Dated Date
Interest Rate
Maturity Date
CUSIP
REGISTERED OWNER:
PRINCIP AL AMOUNT:
The CITY OF JANESVILLE, a municipal corporation of the State of Wisconsin situate
in the County of Rock, acknowledges itself indebted and for value received hereby promises to
pay to the registered owner identified above, or registered assigns, the principal amount specified
above on the maturity date specified above, unless this bond shall be redeemable and shall have
previously been called for redemption and payment of the redemption price made or provided
for, and to pay interest on such principal amount from the dated date hereof at the interest rate
per annum specified above, payable in lawful money of the United States of America on
February 1, 2005, and semiannually thereafter on the first days of August and February in each
year until the principal amount shall have been paid, by check or draft mailed to the registered
owner of record hereof as of the fifteenth day of the calendar month next preceding such interest
payment date, at the address of such owner appearing on the registration books maintained by the
City for such purpose at the principal corporate trust office of Wells Fargo Bank, N.A., in the
City of Chicago, Illinois, as fiscal agent pursuant to Section 67.10(2), Wisconsin Statutes, and as
bond registrar or its successor (the "Bond Registrar"). This bond, as to principal and premium, if
any, when due, will be payable in lawful money of the United States of America upon
presentation and surrender of this bond at the office of the Bond Registrar. The full faith and
credit of the City are irrevocably pledged for the punctual payment of the principal of and
interest on this bond according to its terms.
This bond is part of a series of bonds issued in the aggregate principal amount of
$6,325,000, which are all of like tenor except as to date, maturity, option of redemption and rate
of interest. The bonds are being issued for the following purposes: (i) acquire land for
community development, (ii) to construct and improve streets, and (iii) to refund outstanding
obligations of the City, including the costs of issuance of the bonds. The bonds are authorized
and issued under and pursuant to Chapter 67 of the Wisconsin Statutes and under and in
accordance with resolutions adopted by the City Council of the City on November 8, 2004; on
November 22, 2004 and entitled: "Resolution Authorizing the Issuance of $6,325,000 General
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Obligation Bonds, Series 2004, of the City of Janesville, Wisconsin, and Providing the Details
Thereof'; and on December 13, 2004, and entitled: "Resolution Awarding $6,325,000 General
Obligation Bonds, Series 2004, of the City of Janesville, Wisconsin, Establishing Interest Rates
Thereon and Levying Taxes Therefor."
The bonds maturing on or after February I, 2011 are subject to redemption prior to
maturity as a whole or in part at the option of the City upon notice as herein provided, in any
order of maturity and by lot within a single maturity, on February 1, 2010, and on any date
thereafter, at a redemption price equal to 100% of the principal amount thereof to be redeemed
plus accrued interest to the redemption date and without premium.
Notice of the redemption of bonds shall be mailed not less than 30 days nor more than
60 days prior to the date fixed for such redemption to the registered owners of bonds to be
redeemed at their last addresses appearing on such registration books. The bonds or portions
thereof specified in said notice shall become due and payable at the applicable redemption price
on the redemption date therein designated, and if, on the redemption date, moneys for payment
of the redemption price of all the bonds or portions thereof to be redeemed, together with interest
to the redemption date, shall be available for such payment on said date, then from and after the
redemption date interest on such bonds or portions thereof shall cease to accrue and shall become
payable.
This bond is transferable only upon such registration books by the registered owner
hereof in person, or by his attorney duly authorized in writing, upon surrender hereof at the
office of the Bond Registrar together with a written instrument of transfer satisfactory to the
Bond Registrar duly executed by the registered owner or by his duly authorized attorney, and
thereupon a new registered bond or bonds, in the authorized denominations of $5,000 or any
integral multiple thereof and of the same aggregate principal amount, maturity and interest rate
as this bond shall be issued to the transferee in exchange therefor. In like manner, this bond may
be exchanged for an equal aggregate principal amount of bonds of the same maturity and interest
rate and of any of such authorized denominations. The City or the Bond Registrar may make a
charge sufficient to reimburse it for any tax, fee or other governmental charge required to be paid
with respect to the transfer or exchange of this bond. No other charge shall be made for the
privilege of making such transfer or exchange. The City and the Bond Registrar may treat and
consider the person in whose name this bond is registered as the absolute owner hereof for the
purpose of receiving payment of, or on account of, the principal, premium, if any, and the
interest due hereon and for all other purposes whatsoever.
This bond shall not be valid or become obligatory for any purpose until the certificate of
authentication hereon shall have been duly executed by the Bond Registrar.
It is hereby certified, recited and declared that all acts, conditions and things required to
be done, exist and be performed precedent to and in the issuance of this bond in order to make it
a legal, valid and binding obligation of the City have been done, exist and have been performed
in regular and due time, form and manner as required by law, that a direct, annual, irreparable tax
has been levied by the City sufficient to pay the interest when it falls due and also to pay and
discharge the principal at maturity, and that the series of bonds of which this bond is one,
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together with all other indebtedness of the City, is within every debt or other limit prescribed by
law.
IN WITNESS WHEREOF, the CITY OF JANESVILLE has caused this bond to be
executed in its name and on its behalf by the manual or facsimile signatures of its City Manager
and its City Clerk, and its corporate seal, or a facsimile thereof, to be hereunto affixed or
otherwise reproduced hereon.
CITY OF JANESVILLE
By ~C xiLJ.
City Manager
By
City Clerk
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CERTIFICATE OF AUTHENTICATION
Date of Authentication:
This bond is one of the General Obligation Bonds, Series 2004, described in the within
mentioned resolutions.
WELLS FARGO BANK, N.A., as
Bond Registrar
By
Authorized Officer
ASSIGNMENT
For value received the undersigned sells, assigns and transfers unto
the within bond and hereby irrevocably constitutes and
appoints attorney to transfer the said bond on the books
kept for registration thereof, with full power of substitution in the premises.
Dated
Signature Guaranty:
Section 6. Transfer, Exchange and Registry. The bonds shall be negotiable, subject to
the provisions for registration of transfer contained herein. Each bond shall be transferable only
upon the registration books maintained by the City for that purpose at the office of the bond
registrar, by the registered owner thereof in person or by his attorney duly authorized in writing,
upon surrender thereof together with a written instrument of transfer satisfactory to the bond
registrar and duly executed by the registered owner or his duly authorized attorney. Upon the
surrender for transfer of any such bond, the City shall execute and the bond registrar shall
authenticate and deliver a new bond or bonds registered in the name of the transferee, of the
same aggregate principal amount, maturity and interest rate as the surrendered bond. Bonds,
upon surrender thereof at the office of the bond registrar, with a written instrument satisfactory to
the bond registrar, duly executed by the registered owner or his attorney duly authorized in
writing, may be exchanged for an equal aggregate principal amount of bonds of the same
maturity and interest rate and of the denominations of$5,000 or any integral multiple thereof.
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For every such exchange or registration of transfer of bonds, the City or the bond
registrar may make a charge sufficient to reimburse it for any tax, fee or other governmental
charge required to be paid with respect to such exchange or transfer, which sum or sums shall be
paid by the person requesting such exchange or transfer as a condition precedent to the exercise
of the privilege of making such exchange or transfer. No other charge shall be made for the
privilege of making such transfer or exchange.
The bond registrar shall not be required to transfer or exchange any bond after notice of
the redemption of all or a portion thereof has been mailed. The bond registrar shall not be
required to transfer or exchange any bond during a period of 15 days next preceding the mailing
of a notice of redemption that could designate for redemption all or a portion of such bond.
The City and the bond registrar may deem and treat the person in whose name any bond
shall be registered upon the registration books as the absolute owner of such bond, whether such
bond shall be overdue or not, for the purpose of receiving payment of, or on account of, the
principal of, premium, if any, or interest thereon and for all other purposes whatsoever, and all
such payments so made to any such registered owner or upon his order shall be valid and
effectual to satisfy and discharge the liability upon such bond to the extent of the sums or sums
so paid, and neither the City nor the bond registrar shall be affected by any notice to the contrary.
In order to provide for the initial issuance of the bonds in a form that provides for a
system of book-entry only transfers, the ownership of one fully registered bond for each maturity
in the aggregate principal amount of such maturity shall be registered in the name of
Cede & Co., as a nominee of The Depository Trust Company, New York, New York ("DTC").
In the event that the City determines that the system of book-entry only transfers through DTC
(or a successor securities depository) is not in the best interests of the Beneficial Owners (as
hereinafter defined) of the bonds or is burdensome to the City, the City may notify DTC,
whereupon DTC will notify the DTC Participants (as hereinafter defined) of the availability
through DTC of bond certificates. In such event, the City shall issue and the bond registrar shall
authenticate, transfer and exchange bond certificates as requested by DTC of like principal
amount, series and maturity, in denominations of $5,000 or any integral multiple thereof to the
identifiable Beneficial Owners, in replacement of such Beneficial Owners' beneficial interests in
the bonds. For the purposes of this paragraph, the term "Beneficial Owners" shall mean (a) those
persons for whom DTC was created to hold their securities ("DTC Participants"), and (b) the
persons for whom the DTC Participants acquire interests in the bonds as nominees.
Section 7. Bond Registrar. The City has contracted with and designated Wells Fargo
Bank, N.A., Chicago, Illinois, to serve as fiscal agent pursuant to Section 67.10(2), Wisconsin
Statutes, and as bond registrar. The City covenants that it maintain at the designated office of
such bond registrar a place where bonds may be presented for payment and registration of
transfer or exchange and that it shall require that the bond registrar maintain proper registration
books and perform the other duties and obligations imposed upon it by this resolution in a
manner consistent with the standards, customs and practices of the municipal securities business.
The bond registrar shall signify its acceptance of the duties and obligations imposed upon
it by this resolution by executing the certificate of authentication on any bond, and by such
execution the bond registrar shall be deemed to have certified to the City that it has all requisite
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power to accept, and has accepted, such duties and obligations not only with respect to the bond
so authenticated but with respect to all the bonds. The bond registrar is the agent of the City and
shall not be liable in connection with the performance of its duties except for its own negligence
or default. The bond registrar shall, however, be responsible for any representation in its
certificate of authentication on the bonds.
The City may remove the bond registrar at any time. In case at any time the bond
registrar shall resign or shall be removed or shall become incapable of acting, or shall be
adjudged a bankrupt or insolvent, or if a receiver, liquidator or conservator of the bond registrar,
or of its property, shall be appointed, or if any public officer shall take charge or control of the
bond registrar or of its property or affairs, the City covenants and agrees that it will thereupon
appoint a successor bond registrar. The City shall mail notice of such appointment made by it to
each registered owner of bonds within 20 days after such appointment. Any successor bond
registrar appointed under the provisions of this Section, other than the Finance Director, shall be
a bank, trust company or national banking association maintaining its principal corporate trust
office in the State of Wisconsin, the City of Chicago, Illinois, or the Borough of Manhattan, City
and State of New York.
Section 8. Sale of Bonds. The bonds shall be advertised for sale by the City Clerk in the
manner provided herein, and the City Clerk is authorized to circulate an Official Statement
prepared by R.V. Norene & Associates, Glenview, Illinois, and an Official Notice of Sale.
When the bonds shall have been sold, this Council will adopt the proceedings to award
the bonds, fix the interest rates thereon in accordance with the bid accepted, and levy taxes to
meet principal thereof and interest thereon at maturity as required by law.
Section 9. Application and Investment of Bond Proceeds. Following the sale of the
bonds, the City Manager and City Clerk are hereby authorized and directed to execute and
deliver the bonds to the purchasers thereof upon payment therefor; and the principal proceeds
from the sale of the bonds shall be used only for the purposes and in the manner required by law
and by this resolution. The proceeds may be invested in the manner permitted by law, subject to
the restrictions contained in the next succeeding section.
Section 10. Tax Covenants.
(a) The City shall not take, nor omit to take, any action that is lawful and
within its power to take, which action or omission would cause interest on any bond to
become subject to federal income taxes in addition to federal income taxes to which
interest on such bond is subject on the date of issuance thereof.
(b) The City shall not permit any of the proceeds of the bonds, or any
facilities financed with such proceeds, to be used in any manner that would cause any
bond to constitute a "private activity bond" within the meaning of Section 141 of the
Internal Revenue Code of 1986 (the "Code").
(c) The City shall not permit any of the proceeds of the bonds or other
moneys to be invested in any manner that would cause any bond to constitute an
"arbitrage bond" within the meaning of Section 148 of the Code.
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(d) The City shall comply with the provisions of Section 148(f) of the Code
relating to the payment of certain investment earnings at periodic intervals to the
United States of America; provided, however, that such payment shall not be required to
the extent the City receives an opinion of nationally recognized bond counsel (which
opinion may be given in reliance upon a ruling or rulings of the Internal Revenue
Service) to the effect that such payment is not necessary to preserve the exemption from
federal income taxes of interest on the bonds.
Section 11. Continuing Disclosure. For the benefit of the beneficial owners of the
bonds, the City covenants and agrees to provide an annual report containing certain financial
information and operating data relating to the City. The annual report shall be filed with each
Nationally Recognized Municipal Securities Information Repository and with the Wisconsin
state information depository, if any, within 180 days after the close of the City's fiscal year. The
Annual Report may be submitted as a single document or as separate documents comprising a
package. The City may include the information described below by cross-reference from official
statements of debt issues of the City, which have been submitted to each Nationally Recognized
Municipal Securities Information Repository and with the Wisconsin state information
depository, if any, and are available from the Municipal Securities Rulemaking Board. The
information to be contained in the annual report shall consist of the annual audited financial
statement of the City for the most recently completed prior fiscal year and such additional
information as bondd in the official statement relating to the bonds under the caption
"Continuing Disclosure." Each annual audited financial statement will conform to generally
accepted accounting principles applicable to governmental units prepared in accordance with
standards of the Governmental Accounting Standards Board.
The City also covenants and agrees for the benefit of the beneficial owners of the bonds
to provide timely notice to each Nationally Recognized Municipal Securities Information
Repository and to the Wisconsin state information depository, if any, of any failure of the City to
file any such annual report within the 180-day period and of the occurrence of any of the
following events with respect to the bonds, if material: (1) principal and interest payment
delinquencies; (2) non-payment related defaults; (3) unscheduled draws on debt service reserves
reflecting financial difficulties; (4) unscheduled draws on credit enhancements reflecting
financial difficulties; (5) substitution of credit or liquidity providers, or their failure to perform;
(6) adverse tax opinions or events affecting the tax-exempt status of the bonds; (7) modifications
to rights of bondholders; (8) bond calls; (9) defeasances; (10) release, substitution or sale of
property securing repayment of the bonds; and (11) rating changes.
It is found and determined that the City has agreed to the undertakings contained in this
Section in order to assist participating underwriters of the bonds and brokers, dealers and
municipal securities dealers in complying with Securities and Exchange Commission
Rule 15c2-12 promulgated under the Securities Exchange Act of 1934. The chief financial
officer of the City is authorized and directed to do and perform, or cause to be done or
performed, for or on behalf of the City, each and every thing necessary to accomplish the
undertakings of the City contained in this Section for so long as said Rule 15c2-12 is applicable
to the bonds and the City remains an "obligated person" under the Rule with respect to the
bonds.
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Notwithstanding any other provisions in this resolution to the contrary, failure of the City
to perform any covenant in this Section 11 shall not constitute an event of default hereunder;
however, any bondholder may take such actions as may be necessary and appropriate, including
seeking mandamus or specific performance by court order, to cause the City to comply with its
obligations under this Section 11.
The City may amend the provIsIons of this Section 11 and any provIsIOn of this
Section 11 may be waived, if:
(a) such amendment or waiver is made in connection with a change in
circumstances that arises from a change in legal requirements, change in law or change in
the identity, nature or status of the City, or the activities conducted at the financed
facilities;
(b) the undertaking herein, as amended or waived, would have complied with
the requirements of the Securities and Exchange Commission Rule 15c2-12 promulgated
under the Securities Exchange Act of 1934 (the "Rule") at the time of the primary
offering of the bonds, after taking into account any amendments or interpretations of the
Rule, as well as any change in circumstances; and
(c) the amendment or waiver (i) does not materially impair the interests of
bondholders, as determined by an opinion of nationally recognized bond counsel expert
in federal securities laws acceptable to the City, or (ii) is approved by the affirmative vote
of bondholders of at least two-thirds in aggregate principal amount of the outstanding
bonds at the time such consent is given.
Following any such amendment or waiver, the next succeeding annual report shall
explain, in narrative form, the reasons for the amendment or waiver and the impact of the change
on the type of financial information being provided.
Section 12. Defeasance and Payment of Bonds.
(a) If the City shall payor cause to be paid to the registered owners of the
bonds the principal, premium, if any, and interest due or to become due thereon, at the
times and in the manner stipulated therein and in this resolution, then the pledge of taxes,
securities and funds hereby pledged and the covenants, agreements and other obligations
of the City to the registered owners and the beneficial owners of the bonds shall be
discharged and satisfied.
(b) Any bonds, whether at or prior to the maturity or the redemption date of
such bonds, shall be deemed to have been paid within the meaning of this Section if (i) in
case any such bonds are to be redeemed prior to the maturity thereof, there shall have
been taken all action necessary to call such bonds for redemption and notice of such
redemption shall have been duly given or provision shall have been made for the giving
of such notice, and (ii) there shall have been deposited in trust with a bank, trust company
or national banking association acting as fiduciary for such purpose either (A) moneys in
an amount which shall be sufficient, or (B) "Federal Obligations" as defined in paragraph
(c) of this Section, the principal of and the interest on which when due will provide
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moneys which, together with any moneys on deposit with such fiduciary at the same time
for such purpose, shall be sufficient to pay when due the principal of, redemption
premium, if any, and interest due and to become due on said bonds on and prior to the
applicable redemption date or maturity date thereof.
(c) As used in this Section, the term "Federal Obligations" means
(i) noncallable, direct obligations of the United States of America, (ii) noncallable and
nonprepayable, direct obligations of any agency of the United States of America, which
are unconditionally guaranteed by the United States of America as to full and timely
payment of principal and interest, (iii) noncallable, nonprepayable coupons or interest
installments from the securities described in clause (i) or clause (ii) of this paragraph,
which are stripped pursuant to programs of the Department of the Treasury of the
United States of America, or (iv) coupons or interest installments stripped from bonds of
the Resolution Funding Corporation.
Section 13. Resolution To Constitute a Contract. The provisions of this resolution
shall constitute a contract between the City and the owner or owners of the bonds. Any pledge
made in this resolution and the provisions, covenants and agreements herein set forth to be
performed by or on behalf of the City shall be for the equal benefit, protection and security of the
owners of any and all of the bonds. All of the bonds, regardless of the time or times of their
issuance, shall be of equal rank without preference, priority or distinction of any of the bonds
over any other thereof except as expressly provided in or pursuant to this resolution. This
resolution and the resolution awarding the bonds, fixing the interest rates and levying taxes for
the payment thereof shall constitute full authority for the issuance of the bonds and, to the extent
that the provisions of this resolution conflict with the provisions of any other resolution of the
City, the provisions of this resolution, as amended, shall control. If any section, paragraph or
provision of this resolution shall be held to be invalid or unenforceable for any reason, the
invalidity or unenforceability of such section, paragraph or provision shall not affect any of the
remaining provisions of this resolution.
Section 14. Notice. The City Clerk is authorized to publish a notice of the issuance of
the bonds as a class 1 notice pursuant to Section 893.77, Wisconsin Statutes.
Section 15. Effective Date. This resolution shall become effective immediately upon its
passage, the public welfare requiring it
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ADOPTED:
November 22, 2004
APPROVED:
~ Z'~~
Steven E. Sheiffer, City Manager
ATTEST:
/--)
c....
Jea nn Wulf, City Clerk-Treasurer
APPROVED AS TO FORM:
~/W~
City Attorney
Proposed by:
Prepared by:
City Administration
Finance Administration
Motion by: Addie
Second by: Williams
Councilmember Aye Nay Pass Absent
Wellnitz, Tim X
Brien X
Williams X
Wellnitz, Tom X
Steeber X
DeGarmo X
Addie X
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