CCR1975059RESOLUTION #59 - 75
CONPION COUNCIL
OF THE
CITY OF MUSIEGO
RESOLUTION FIXING REFERENDUM DATE
FOR
INDUSTRIAL DEVELOPXENT REVENUE BONDS, SERIES. A
(MUSKEGO RENDEXING CO. INC. PROJECT)
Y
WHEREAS, in Resolution 176-73 adopted on October 23,
1973, this Colmon Council did agree (upon conditions) to issue
industrial development revenue bonds pursuant to Section 66.521
of the \{isconsin Statutes for the purpose of financing an
industrial project for Nuskego Rendering Co. Inc., a Wisconsin
corporation; and
0 WHEREAS, in Resolution 143-74 adopted on July 23,
1974, this Common Council did approve the terms upon which the
aforesaid Bonds were to be issued and, in conformity with
Section 66.521(10) of the Wisconsin Statutes, did direct the ~
publication o€ notice to electors regarding the 'City's intention
to issue the Bonds; and
WHEREAS, the Notice to Electors was published on
August 22, 1974, in The Sun, the City's official newspaper for
the publication of legal notices; and
WHEREAS, the City Clerk has advised that within 30
days following said publication, a petition s'igned by more than
5% of the registered electors of the City was filed with the
City Clerk requesting a referendum upon the question of the
issuance of the Bonds; and
WEREAS, a referendum upon the question of the
issuance of the Eonds was held at the general election in the
City on November 5, 1974, and the vote on the referendum
question was: For Bonds - 1.180; Against Eonds - 1,566; and
WHEREAS, it is hereby found and determined that
Ihskego Rendering Co Inc. was induced by Resolution 176-73
to construct and equip an industrial project in the City and
' that City has and will continue to derive substantial municipal
benefits by reason of the location of said project in the City,
including by way of illustration but not limitation: the
general employment of its citizens; the stimulation of the
flow of private investment funds into the City; the preservation
and enhancement of the City's tax base; and the betterment of
the environment; and
WEREAS, this Common Council has heretofore expressed
and continues to express its desire to encourage the expansion
of business enterprises such as Muskego Rendering Co. Inc in
the City in order that the City may derive the public benefits
aforenentioned, and this Common Council is resolute in its
determination that the issuance of the aforesaid Bonds will
provide such encouragement; and e
ITHEREAS, in view of the aforesaid petition, Section
66.521(10) (c) of the Idisconsin Statu.?es provides that the
bonds shall not be issued until approved by a majority of the
electors of the munic.ipality voting hereon at a general or
special election; and
IJHERLG, notwithstanding the desire of this Comon
Couacil that the. City issue the aforesaid Eonds, the City .
cannot do so until said bond issue is approved by a majority
of the electors; and a
WHEREAS, it is,. therefore, appropriate to fix the
procedures for the holding of such referendum;
NO3 THEREFORE, BE IT RESOLVED BY THE COPPION COUNCIL -
OF THE CITY OF NUSKEGO AS FOLLOWS:
1. The-re5erendum shall be held at the April 1,
1975, general election.
2. The notice and the ballot need not embody a
copy of the aforesaid resolutions of this Common Council
pertaining to the Bonds.
3. The question which shall appear on the ballot
shall be:
Shall the City of Muskego aid the Muskego
Rendering Company, Inc., in financing the
construction and equipping oi' a rendering
plant located in the City by issuiag
$1,000,000.00 of industrial development
revenue bonds pursuant to Section G6.521
of the \Jisconsin Statutes, which bonds
shall never constitute an indebtedness
of the City and shall not constitute a
charge against the general credit or
taxing powers of the City?
For Bonds 11 Against Bonds n
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4. Except as provided herein or in Section 66.521
of the Wisconsin Statutes, the referendum shall be noticed,
called and conducted pursuant to Section 67.05(5) of the
Wisconsin Statutes.
PASSED ASD APPROVED ON MARCH 11. 1975.
Mayor
[SEAL OF MUNICIPALITY]
Attest:
Clerk i
Recorded March 11, 1975.
Clerk
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