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CCR1985258Ln rn D r I NOTICE M ELECTORS OF THE CITY OF MUSKEGO, WISCONSW NOTlCE.IS HEREBY GIVEN that the Fdlowing. initial resolutions have been adopted at the rneetihg of the Cornmo+j Counci1,pfthe City ofhluskego, held October ~ ' . . Common Council Held October 8, 1985 Excerpts of Minutes of Meeting of Muskego, Waukesha County, Wisconsin, was held in open session in the A duly-convened meeting of the Common Council of the City of City Hall on October 8, 1985. Mayor Salentine called the meeting to order at E P.M. J. Hilt, Ralph R. Tomczyk, Mitchel Penovich, David Taube, Frank DeAngelis and Edwin Dumke The following Aldermen were present: Pat Patterson, Daniel The following were absent: None meeting of the Common Council. Notice of this meeting was given to the The Mayor opened the meeting by announcing that this was an open public at least 24 hours in advance of the meeting by forwarding the complete agenda to the Muskego Sun and to all news media who have requested the same as well as posting. Copies of the complete agenda were available for inspection at the City Clerk's office. Anyone desiring information as to forthcoming meetings should contact the City Clerk's office. (Here occurred business not pertinent to the bond issue.) seconded by Alderman Hllt The following resolution was moved by Alderman Penovich and Resolution No. 258 INITIAL RESOLUTION authorizing $705,000 bonds of the City of Muskego: County, Wisconsin, borrow an amount not to exceed RESOLVED that the City of Muskego, Waukesha $705,000 by issuing its general obligation bonds for the public purpose of financing sewerage projects. Upon roll call vote, the following voted aye: Patterson, Hilt, Tomczyk, Penovich, Taube, DeAngelis and Dumke and the following voted no: None a Clerk recorded the sane. Whereupon, the Mayor declared the resolution adopted and the City The following resolution was moved by Alderman Dewgelis and seconded by Alderman Penovich : Resolution No. 259 INITIAL RESOLUTION authorizing $550,000 bonds of the City of Muskego: RESOLVED that the City of Muskego, Waukesha County, Wisconsin, borrow an amount not to exceed $550,000 by issuing its general obligation bonds for the public purpose of financing street improvements. Upon roll call vote the following voted aye: Patterson, Hilt, Tomczyk, Penovich, Taube, DeAngelis and and the following voted no: None Whereupon, the Mayor declared the resolution adopted and the City . . Clerk recoided the same. seconded bjr Alderman Taube : The following resolution was moved by Alderman Dem’3elis and Resolution No. 260 INITIAL RESOLUTION authorizing $155,000 bonds of the City of Muskego: RESOLVED that the City of Muskego, Waukesha County, Wisconsin, borrow an amount not to exceed $155,000 by issuing its general obligation bonds projects. for the public purpose of financing library Upon roll call vote, the following voted aye: patterson, Hilt, Tomczyk, Penovich, Taube, DeAngelis and Duke and the following voted no: None 2 Clerk recorded the same. Whereupon, the Mayor declared the resolution adopted and the City The following resolution,was moved by Alderman Hilt and seconded by Alderman Penovlch : - Resolution No. 261 INITIAL RESOLUTION authorizing $125,000 bonds of the City of Muskego: RESOLVED that the City of Muskego, Waukesha County, Wisconsin, borrow an amount not to exceed $125,000 by issuing its general obligation bonds for the public purpose of financing fire engines other facilities for fire protection. and other equipment of the fire department and Upon roll call vote, the following vote aye: patterson, ~ilt, Tomczyk, Penovich, Taube, DeAngelis and Dumke and the following vote no: None ’. Clerk recorded the same. Whereupon the Mayor declared the resolution adopted and the City seconded by Alderman a-: The following resolution was moved by Alderman Penovich and Resolution No. 262 INITIAL RESOLUTION authorizing $15,000 bonds of the City of 14uskez~o: County, Wisconsin, borrow an amount not to exceed XSOLVCD that the City of Muskego, Waukesha $15,000 by issuing its general obligation bonds for the public purpose of financing parks and public grounds. Tomczyk, Penovich, Taube, DeAngelis and Dude Upon roll call vote, the following voted aye: Patterson, Hilt, and tile following voted no: None 3 e and the City Clerk recorded the same. It was moved by Alderman Taube and seconded by , to adopt the following resolution: Whereupon, the Mayor declared the resolution adopted Alderman Resolution NO. RESOLUTION DIRECTING PUBLICATION OF NOTICE WHEREAS initial resolutions have been adopted by the Common Council of the City and it is now necessary that said residents of the City of their adoption; initial resolutions be published to afford notice to the NOW, THEREFORE, BE IT RESOLVED that the City Clerk shall, within 15 days, yblish. a notice to the electors in newspaper, the Muskego Sun: substantially the following form in the official City 4 NOTICE TO ELECTORS OF THE CITY OF MUSKEGO, WISCONSIN NOTICE IS HEREBY GIVEN that the following initial resolutions have been a6opted at the meeting of the Common Council of the City of Muskego, held October 8, 1985: Resolution No. a INITIAL RESOLUTION authorizing $705,000 bonds of the City of Muskego: RESOLVED that the City of Muskego, Waukesha County, Wisconsin, borrow an amount not to exceed $705,000 by issuing its general obligation bonds projects. for the public purpose of financing sewerage Resolution No. 59 INITIAL ESOLUTION authorizing $550,000 bonds of the City of Muskego: RESOLVED that the City of Muskego, Waukesha County, Wisconsin, borrow an amount not to exceed $550,000 by issuing its general obligation bonds for the public purpose of financing street improvements. Resolution No. - 260 the City of Muskego: INITIAL RESOLUTION authorizing $155,000 bonds of County, Wisconsin, borrow an amount not to exceed RESOLVED that the City of Muskego, Waukesha $155,000 by issuing its general obligation bonds for the public prpose of financing library projects. Resolution No. 261 the City of Muskego: INITIAL RESOLUTION authorizing $125,000 bonds of County, Wisconsin, borrow an amount not to exceed RESOLVED that the City of Muskego, Waukesha $125,000 by issuing its general obligation bonds for the public purpose of financing fire engines and other equipment of the fire department and other facilities for fire protection. 5 Resolution No. 262 INITIAL RESOLUTION authorizing $15,000 bonds of the City of Muskego: RESOLVED that the City of Muskego, Waukesha County, Wisconsin, borrow an amount not to exceed $15,000 by issuing its general obligation bonds for the public purpose of financing parks and public grounds. resolutions need not be submitted to the electors unless within 30 days The Wisconsin Statutes (s. 67.05(7)(b)) provide that the initial requesting a referendum. This petition must be signed by electors after recording a petition is filed in the City Clerk's office numbering at least 10% of the votes cast for governor in the City at the last general election. Dated October 8 , 1985. Charlotte L. Stewart, City Clerk By Order of the Common Council On roll call vote, the following Aldermen voted aye: patterson, Hilt, Tomczyk, Penovich, Taube, DeAngelis and Dmke a and the following voted no: None Clerk recorded the same. Whereupon, the Mayor declared the resolution adopted and the City The following resolution was moved by Alderman TomczYk and seconded by Alderman Taube : Resolution No. 264 WHEREAS this Common Council has adopted initial resolutions authorizing bonds for the following public purposes and in the following amounts: $705,000 to finance sewerage projects; $550,000 to finance street improvements; $155,000 to finance library projects; $125,000 to finance fire engines and other equipment of the fire department and other facilities for fire protection; and $15,000 to finance parks and public 6 grounds; and WHEREAS it is necessary and desirable that such bonds now be offered at public sale; NOW, THEREFORE, BE IT RESOLVED that: preamble hereof are hereby combined into one issue of bonds designateJ 'General Obligation Corporate Purpose Bonds," and the City shall issue bonds in the aggregate principal amount of $1,550,000 for the purposes above specified. Section 1. Combination of Issues. The issues referred to in the Section 2. Published Notice of Bond Sale. The City Clerk be and hereby is directed to publish a Notice of Bond Sale in substantially newspaper of the City, the Muske o Sun and in such other newspaper or the abbreviated form attached to these minutes in the official newspapers as the City Clerk -+" may etermine. . Such publications shall be made at such times as will give prospective bidders reasonable notice of the sale of the Bonds, but not later than seven days prior to the date of the bond sale. Clerk shall cause copies of the official Notice of Bond Sale to be Section 3. Form of Official Notice; Details of aonds. The City forwarded to prospective bidders, which Notice shall be substantially in the form attached to these minutes, and the details pertaining to details for said bonds. said bonds specified in said Notice are herewith adopted as and for the Section 4. Official Statement. The City Clerk shall cause an Official Statement concerning this issue to be prepared by the City's - financial consultants, Ehleri and Associates, Iic.-and the appropriate City officials shall certify said Statement, such certification to constitute full authorization of such Statement under these resolutions. On roll call vote, the following voted aye: patterson, Hilt, Tomczyk, Penovich, Taube, DeAngelis and Dumke and the following voted no: None 0 Clerk recorded the same. Whereupon, the Mayor declared the resolution adopted and the City Upon motion and vote, the meeting adjourned. a 8 NOTICE OF BOND SALE $1,550,000 General Obligation Corporate Purpose Bonds City of Muskego, Wisconsin NOTICE IS HEREBY GIVEN that sealed bids for the purchase of the above Bonds of the City of Muskego, Wisconsin, will be received at the City Hall, Muskego, Wisconsin, until 1:OO P.M., Central Time, on Novenber 12, 1985, when they will be opened. The bids will be considered by the Common Council at its meeting to be held later that day. These Bonds are being issued to finance the following public purpose projects: sewerage projects ($705,000); street improvements ($550,000); library projects ($155,000); fire engines and other equipment of the fire department and other facilities for fiie protection ($125,000); and parks and public grounds ($15,000). Dates and Maturities The Bonds will be dated December 1, 1985 and will mature on December 1 in the following years and amounts: Year 1989/90 1991/92 1393/94 1995/96 1997 1998 1999 Amount $ 25,000 50,000 100,000 75,000 200,000 350,000 500,000 Call Provision Bonds maturing on and after December I, 1996 shall be subject to call and prior payment on any interest payment date on oi after December 1, 1995 at par plus accrued interest. Interest I, commencing June 1, 1986. All Bonds maturing on the same date musk Interest on the Bonds will be payable on each June 1 and December bear interest from date of issue until paid at a single, uniform rate. Each rate must be in an integral multiple of 1/8 or 1/20 of 18, and no rate applicable to any maturity shall be lower than that ap2licable to any previous maturity. Fiscal Agent The Bonds will be distributed to the owners in fully-registered form in any authorized whole multiple of $5,000 each by First Bank (N.A.), Milwaukee, Wisconsin, the fiscal agent for the City. The Bonds will be payable as to interest by check or draft of the fiscal agent mailed to the registered owners whose names appear on the books of the fiscal agent at the close of business on the 15th day of the calendar month next preceding the interest payment date and as to princi2al Si presentation of the Bonds at the office of the fiscal agent. The City will pay all costs relating to the registration of the Bonds. 0 . Delivery Within 40 days after sale, the City will furnish and deliver at the office of the purchaser or, at his option, will deposit with a bank agent to permit examination by and to deliver to the successful in the United States selected by him and approved by the City as its purchaser the printed and executed Bonds (one each in the principal counsel and a certificate stating that no litigation in any manner amount for each maturity), the unqualified opinion thereon of bond of the delivery agent must be paid upon delivery by the purchaser but questioning their validity is then threatened or pending. The charge all other costs will be paid by the City. The purchase price must be paid upon delivery of the Bonds or within five days after deposit with the delivery agent in funds available for expenditure by the City on the day of payment. Legal Opinion Messrs. Quarles 6 Brady, Milwaukee, Wisconsin. The legal opinion will An unqualified legal o2inion on the Bonds will be furnished by be printed on the Bonds. The legal opinion will state that the Bonds are valid and bindiag general obligations of the City, and all the taxable property in the City is subject to the levy of a tax to pay the princi2al of and interest on the Bonds as the same become due without limitation as to rate or amount. Type of Bid - Amount must be received 2rior to the time established above for the opening of Sealed bids must be mailed or delivered to the undersigned and bids. Each bid must be unconditional and must be acconpanied by a payable to the City Treasurer, to be retained by the City as liquidated cashier's OK certified check or bank draft in the amount of $31,000, damages if the bid is accepted and the bidder fails to comply therewith. The bid authorizing the lowest net interest cost (total interest from date of Bonds to stated maturities less any cash premium or plus any discount) will be deemed the most favorable. No oral bid and no bid of less than $1,526,750 plus accrued interest on all of the Bonds will be considered and the City reserves the right to reject any and all bids and to waive any informality in any bid. BY ORDER OF THE COMMON COUNCIL Charlotte L. Stewart City Clerk City Hall Muskego, Wisconsin 53150 2 Further information may be obtained from and bids may be delivered to: Avenue, Minneapolis, Minnesota 55402. Telephone: (612) 339-8291. EHLERS AND ASSOCIATES, INC., Financial Specialists, 507 Marquette 0 3 .- a m (Form of Published Notice) NOTICE OF BOND SALE $1,550,000 General Obligation Corporate Purpose Bonds City of Muskego, Wisconsin sealed bids only will be received at the City Hall, Muskego, Wisconsin, for the above issue to be dated December I, 1985, and to mature December 1, Until Tuesday, November 12, 1985, at 1:OO P.M., Central Time, Year - Amount 1989/90 1991/92 1993/94 1995/96 1997 1998 1999 $ 25,000 50,000 100,000 75,000 200,000 350,000 500,000 to finance public purFse projects. No rate applicable to any maturiky opinion: Quarles 6 Brady. Additional information and a copy of the shall be lower than that a9plicable to any previous maturity. Legal Official Statement and Notice of Bond Sale, which set forth additional details concerning the issue and limitations on the bids to be Marquette Avenue, Minneapolis, Minnesota 55402, financial consultants received, may be obtained from: Ehlers and Associates, Inc., 507 to the City, or the undersigned. The aonds constitute the general obligation of the issuer, issued Charlotte L. Stewart City Clerk City Hall Muskego, Wisconsin 53150 4 JIlSU