CCR2009163-Water System Bonds-Exh.A
EXHIBIT A
(Form of Municipal Obligation)
REGISTERED UNITED STATES OF AMERICA REGISTERED
NO. _____ STATE OF WISCONSIN $_________
WAUKESHA COUNTY
CITY OF MUSKEGO
WATER SYSTEM REVENUE BOND, SERIES 2009
Final Date of
Maturity Date Original Issue
May 1, 2029 _____, 20__
REGISTERED OWNER: STATE OF WISCONSIN SAFE DRINKING WATER LOAN
PROGRAM
FOR VALUE RECEIVED the City of Muskego, Waukesha County, Wisconsin (the
"Municipality") hereby acknowledges itself to owe and promises to pay to the registered owner
shown above, or registered assigns, solely from the fund hereinafter specified, the principal sum
of an amount not to exceed ________________________ DOLLARS ($_________) (but only so
much as shall have been drawn hereunder, as provided below) on May 1 of each year
commencing May 1, 2010 until the final maturity date written above, together with interest
thereon (but only on amounts as shall have been drawn hereunder, as provided below) from the
dates the amounts are drawn hereunder or the most recent payment date to which interest has
been paid, at the rate of 2.668% per annum, calculated on the basis of a 360-day year made up of
twelve 30-day months, such interest being payable on the first days of May and November of
each year, with the first interest being payable on May 1, 2010.
The principal amount evidenced by this Bond may be drawn upon by the Municipality in
accordance with the Financial Assistance Agreement entered by and between the Municipality
and the State of Wisconsin by the Department of Natural Resources and the Department of
Administration including capitalized interest transferred (if any). The principal amounts so
drawn shall be repaid in installments on May 1 of each year commencing on May 1, 2010 in an
amount equal to an amount which when amortized over the remaining term of this Bond plus
current payments of interest (but only on amounts drawn hereunder) at Two and 668/1000ths
percent (2.668%) per annum shall result in equal annual payments of the total of principal and
the semiannual payments of interest. The State of Wisconsin Department of Administration shall
record such draws and corresponding principal repayment schedule on a cumulative basis in the
format shown on the attached Schedule A.
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Both principal and interest hereon are hereby made payable to the registered owner in
lawful money of the United States of America. On the final maturity date, principal of this Bond
shall be payable only upon presentation and surrender of this Bond at the office of the Municipal
Treasurer. Principal hereof (except the final maturity) and interest hereon shall be payable by
electronic transfer or by check or draft dated on or before the applicable payment date and
mailed from the office of the Municipal Treasurer to the person in whose name this Bond is
registered at the close of business on the fifteenth day of the calendar month next preceding such
interest payment date.
The Bonds shall not be redeemable prior to their maturity, except with the consent of the
registered owner.
This Bond is transferable only upon the books of the Municipality kept for that purpose at
the office of the Municipal Treasurer, by the registered owner in person or its duly authorized
attorney, upon surrender of this Bond, together with a written instrument of transfer (which may
be endorsed hereon) satisfactory to the Municipal Treasurer, duly executed by the registered
owner or its duly authorized attorney. Thereupon a replacement Bond shall be issued to the
transferee in exchange therefor. The Municipality may deem and treat 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 or interest hereof and for all other purposes. This Bond is issuable
solely as a negotiable, fully-registered bond, without coupons, and in denominations of $0.01 or
any integral multiple thereof.
This Bond is issued for the purpose of providing for the payment of the cost of
constructing improvements to the Water System of the Municipality, pursuant to Article XI,
Section 3, of the Wisconsin Constitution, Section 66.0621, Wisconsin Statutes, and a resolution
adopted November 10, 2009, and entitled: "Resolution Authorizing the Issuance and Sale of Up
to $453,974 Water System Revenue Bonds, Series 2009, and Providing for Other Details and
Covenants With Respect Thereto" and is payable only from the income and revenues derived
from the operation of the Water System of the Municipality (the "Utility"). The Bonds are
issued on a parity with the Municipality's Water System Revenue Bonds, dated February 1, 1999,
Water System Revenue Bonds, dated January 1, 2000, Water System Revenue Bonds, Series
2001D, dated December 1, 2001, and Water System Revenue Bonds, dated September 1, 2008,
as to the pledge of income and revenues of the Utility. This Bond does not constitute an
indebtedness of said Municipality within the meaning of any constitutional or statutory debt
limitation or provision.
It is hereby certified, recited and declared that all acts, conditions and things required to
exist, happen, and be performed precedent to and in the issuance of this Bond have existed, have
happened and have been performed in due time, form and manner as required by law; and that
sufficient of the income and revenue to be received by said Municipality from the operation of its
Utility has been pledged to and will be set aside into a special fund for the payment of the
principal of and interest on this Bond.
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IN WITNESS WHEREOF, the Municipality has caused this Bond to be signed by the
signatures of its Mayor and City Clerk, and its corporate seal to be impressed hereon, all as of the
date of original issue specified above.
CITY OF MUSKEGO,
WISCONSIN
(SEAL)
By:__________________________
John R. Johnson
Mayor
By:__________________________
Janice Moyer
City Clerk
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(Form of Assignment)
FOR VALUE RECEIVED the undersigned hereby sells, assigns and transfers unto
________________________________________________________________
________________________________________________________________
________________________________________________________________
(Please print or typewrite name and address, including zip code, of Assignee)
Please insert Social Security or other identifying number of Assignee
_____________________________
the within Bond and all rights thereunder, hereby irrevocably constituting and appointing
________________________________________________________________
Attorney to transfer said Bond on the books kept for the registration thereof with full power of
substitution in the premises.
Dated:_______________
________________________________________
NOTICE: The signature of this assignment must
correspond with the name as it appears upon the
face of the within Bond in every particular, without
alteration or enlargement or any change whatever.
Signature(s) guaranteed by
__________________________________
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SCHEDULE A
$453,974
CITY OF MUSKEGO, WISCONSIN
WATER SYSTEM REVENUE BONDS, SERIES 2009
Amount of
Disburse- Date of Series of Principal Principal
ment Disbursement Bonds Repaid Balance
________ ____________ ________ ________ ________
________ ____________ ________ ________ ________
________ ____________ ________ ________ ________
________ ____________ ________ ________ ________
________ ____________ ________ ________ ________
________ ____________ ________ ________ ________
________ ____________ ________ ________ ________
________ ____________ ________ ________ ________
________ ____________ ________ ________ ________
________ ____________ ________ ________ ________
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SCHEDULE A (continued)
PRINCIPAL REPAYMENT SCHEDULE
Principal
Date Amount
May 1, 2010 $17,473.24
May 1, 2011 17,939.43
May 1, 2012 18,418.05
May 1, 2013 18,909.44
May 1, 2014 19,413.95
May 1, 2015 19,931.91
May 1, 2016 20,463.70
May 1, 2017 21,009.67
May 1, 2018 21,570.20
May 1, 2019 22,145.70
May 1, 2020 22,736.54
May 1, 2021 23,343.16
May 1, 2022 23,965.95
May 1, 2023 24,605.36
May 1, 2024 25,261.83
May 1, 2025 25,935.82
May 1, 2026 26,627.79
May 1, 2027 27,338.22
May 1, 2028 28,067.60
May 1, 2029 28,816.44
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