2005-128
RESOLUTION NO. 2005-128
RESOLUTION AUTHORIZING THE ISSUANCE OF $50,000 IN PROMISSORY NOTES TO
REMODEL THE LOWER LOBBY OF HEDBERG PUBLIC LIBRARY
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 following public projects and purposes fall under the scope of Section 67.04(1)(b) and
67.12(12), Wis. Stats.
$50,000 to acquire, improve, and maintain public buildings and grounds; and
WHEREAS, such above proposed public projects and purposes and the issuance of such promissory
notes will be beneficial to the City and in the best interest of the community;
NOW, THEREFORE, Be It Resolved by the City Council for the City of Janesville that:
1. The City of Janesville may, pursuant to Section 67.12(12) Wis. Stats., have up to fifty
thousand dollars ($50,000) in municipal promissory notes to finance various public projects
and purposes as follows:
$50,000 to acquire, improve, and maintain public buildings and grounds.
2. Each promissory note so issued, plus interest, shall be repaid within ten (10) years after the
original date of the note pursuant to Section 67.12(12), Wis. Stats.
3. Each such promissory note issued shall constitute an indebtedness ofthe City of Janesville.
ADOPTED:
January 10. 2005
MOTION BY: DeGarmo
SECOND BY: Steeber
COUNCILMEMBER AYE NAY PASS ABSENT
WELLNITZ (Tim) X
WILLIAMS X
BRIEN X
WELLNITZ (Tom) X
STEEBER X
DEGARMO X
ADDIE X
APPROVED:
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Steven E. Sheiffer, City Managé?'
Jean
AP¿7~.0?;r:
City Attorney
Proposed by:
Prepared by:
City Administration
Management Analyst