2022-1977 RESOLUTION NO. 2022-1977
A Resolution authorizing the City Administration to expend funds to make
improvements to and replace various pieces of maintenance equipment at
Riverside and Blackhawk Golf Courses.
WHEREAS, on October 12, 2010, the City and Kemper Sports Management, Inc., an
Illinois Corporation ("KSM") entered into a management agreement for Riverside and
Blackhawk Golf Courses; and
WHEREAS, as part of the management agreement, the City agreed to maintain the
equipment fleet in order to continue to provide the quality high service levels and
maintenance standards Janesville golfers have enjoyed and expect at the municipal
courses; and
WHEREAS, the 2022 Major Capital Projects Budget anticipated expending
approximately One Hundred Eleven Thousand and 00/100 Dollars ($111,000) for Golf
Course Capital; and
WHEREAS, in order to have replacement equipment available for the 2022 golf season,
capital costs estimated at $111,000 will need to be incurred prior to the 2022
Promissory Note Issue.
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 $111,000 for improvements to and the replacement of equipment at
Riverside and Blackhawk Golf Courses; and
BE IT FURTHER RESOLVED by the Common Council of the City of Janesville that this
authorization commits the Common Council to include $111,000 in the 2022 tax-exempt
obligation promissory note issue for this public purpose as permitted by the Internal
Revenue Code of 1986. This declaration of official intent to reimburse the original
expenditure with the proceeds of the reimbursement bond is consistent with the
budgetary and financial circumstances of the City. The purpose of this Resolution is to
satisfy the "official intent" requirement of the Treasury Regulation 26 CFR Section
1.150-2.
ADOPTED: February 28, 2022 Motion by: Consent
Second by: Consent
APPROVED: Councilmember Aye Nay Pass Absent
v4, Aal _ Benson X
MaO
ag, City Manager Jackson X
Johnson X
ATTEST: Marklein X
Marshick X
Miller X
Lorena Rae Stottler, ity lerk-Treasurer Williams X
APPROVED AS TO FORM:
Wald Klimczyk, i y Attorney
Proposed by: Parks Division
Prepared by: Parks Division