2005-231
RESOLUTION NUMBER 2005-231
RESOLUTION AUTHORIZING THE ISSUANCE OF $81,000 IN
PROMISSORY NOTES FOR THE REQUIRED LOCAL MATCHING FUNDS FOR A FIRE ACT
GRANT
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( I )(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 public 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.:
$81,000 as the required twenty percent (20%) local match to secure up to $324,000 in a Federal
Fire Act Grant to acquire and install capital equipment for traffic preemption; 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 [t Resolved by the Common Council for the City of Janesville that:
I. The City of Janesville may, pursuant to Section 67.12(12) Wis. Stats., issue up to eighty-
one thousand dollars ($81,000) in municipal promissory notes to finance various public projects and
purposes as follows:
$81,000 to acquire and install capital equipment for traffic preemption;
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. ] 2( 12), Wis. Stats.
3.
Janesville.
Each such promissory note issued shall constitute an indebtedness of the City of
ADOPTED:
December 12, 2005
MOTION BV: Williams
SECOND BV: Brien
COUNCILMEMBER AVE NAV PASS ABSENT
BRUNNER X
BRIEN X
WILLIAMS X
WELLNITZ. TIM X
WELLNITZ. TOM X
DEGARMO X
ADDIE X
APPR~)ED: _
d£ ¿::d'f¿- .~?
Steven E. Sheiffer, City Manager /
ATTEST:
')¿;;"Z)") !{,{ej·
nn Wulf, City Clerk-Treasure~
APPROVED AS TO FORM:
Proposed by:
Prepared by:
City Administration
Fire Administration