CCR2010061-Redemption of 2002 Notes
RESOLUTION NO.061-2010
RESOLUTION AUTHORIZING THE REDEMPTION OF
GENERAL OBLIGATION PROMISSORY NOTES, SERIES 2001B,
AND GENERAL OBLIGATION PROMISSORY NOTES, SERIES 2002
WHEREAS, the City of Muskego, Waukesha County, Wisconsin (the "City") has
outstanding its General Obligation Promissory Notes, Series 2001B, dated December 1, 2001
(the “2001 Notes”) and its General Obligation Promissory Notes, Series 2002, dated December
1, 2002 (the "2002 Notes");
WHEREAS, this Common Council has determined that it is necessary and desirable to
call the 2001 Notes maturing on June 1, 2011 and the 2002 Notes maturing on June 1, 2011 and
June 1, 2012 (collectively, the "Notes") for redemption on July 1, 2010 with City funds on hand;
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of
Muskego, Waukesha County, Wisconsin, that the Notes are called for prior payment on July 1,
2010 at the price of par plus accrued interest to the date of redemption.
The City hereby directs the City Clerk to work with its financial advisor, Hutchinson,
Shockey, Erley & Co., to cause timely notice of redemption, in substantially the forms attached
hereto as Exhibits A and B and incorporated herein by this reference (the "Notices"), to be
provided at the times, to the parties and in the manner set forth on the Notices.
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Passed this 25 day of May, 2010.
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Approved this 25 day of May, 2010.
______________________________
Mayor John R. Johnson
Attest:
______________________________
Deputy City Clerk
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EXHIBIT A
NOTICE OF FULL CALL*
Regarding
CITY OF MUSKEGO
WAUKESHA COUNTY, WISCONSIN
GENERAL OBLIGATION PROMISSORY NOTES, SERIES 2001B
DATED DECEMBER 1, 2001
NOTICE IS HEREBY GIVEN that the Notes of the above-referenced issue which
mature on the date and in the amount; bear interest at the rate; and have the CUSIP No. as set
forth below have been called by the City for prior payment on July 1, 2010 at the principal
amount thereof plus accrued interest to the date of prepayment:
Maturity Date Principal Amount Interest Rate CUSIP No.
06/01/11 $500,000 4.30% 627636NR0
The City shall deposit federal or other immediately available funds sufficient for such
redemption at the office of The Depository Trust Company on or before July 1, 2010.
Said Notes will cease to bear interest on July 1, 2010.
By Order of the
Common Council
City of Muskego
City Clerk
Dated May 25, 2010
* To be provided by registered or certified mail to The Depository Trust Company, Attn: Supervisor, Call Notification
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Department, 55 Water Street, 50 Floor, New York, NY 10041-0099, not less than thirty (30) days nor more than sixty (60) days
prior to July 1, 2010 and to the MSRB. In addition, notice shall be given by facsimile or electronic transmission or overnight
express delivery. Notice shall also be provided to MBIA Insurance Corporation, or its successor, the bond insurer of the Notes.
**
If the Notes are subject to the continuing disclosure requirements of SEC Rule 15c2-12 effective July 3, 1995, this
Notice should be filed electronically with the MSRB through the Electronic Municipal Market Access (EMMA) System website
at www.emma.msrb.org.
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EXHIBIT B
NOTICE OF FULL CALL*
Regarding
CITY OF MUSKEGO
WAUKESHA COUNTY, WISCONSIN
GENERAL OBLIGATION PROMISSORY NOTES, SERIES 2002
DATED DECEMBER 1, 2002
NOTICE IS HEREBY GIVEN that the Notes of the above-referenced issue which
mature on the dates and in the amounts; bear interest at the rates; and have the CUSIP Nos. as set
forth below have been called by the City for prior payment on July 1, 2010 at the principal
amount thereof plus accrued interest to the date of prepayment:
Maturity Date Principal Amount Interest Rate CUSIP No.
06/01/11 $300,000 3.75% 627636PQ0
06/01/12 500,000 3.85 627636PR8
The City shall deposit federal or other immediately available funds sufficient for such
redemption at the office of The Depository Trust Company on or before July 1, 2010.
Said Notes will cease to bear interest on July 1, 2010.
By Order of the
Common Council
City of Muskego
City Clerk
Dated May 25, 2010
* To be provided by registered or certified mail to The Depository Trust Company, Attn: Supervisor, Call Notification
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Department, 55 Water Street, 50 Floor, New York, NY 10041-0099, not less than thirty (30) days nor more than sixty (60) days
prior to July 1, 2010 and to the MSRB. In addition, notice shall be given by facsimile or electronic transmission or overnight
express delivery.
**
If the Notes are subject to the continuing disclosure requirements of SEC Rule 15c2-12 effective July 3, 1995, this
Notice should be filed electronically with the MSRB through the Electronic Municipal Market Access (EMMA) System website
at www.emma.msrb.org.
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