CCR1997048i
c .- . Resolution No. -7
GENERAL OBLIGATION BONDS OR PROMISSORY NOTES
RESOLUTION PROVIDING FOR THE SALE OF TAXABLE
FOR PARKLAND MALL PROJECT
"City") is undertaking the acquisition and renovation of the
Parkland Mall (the "Project"); and
WHEREAS the City of Muskego, Waukesha County, Wisconsin (the
WHEREAS the Common Council of the City has adopted an
initial resolution authorizing the issuance of general obligation
bonds in an amount not to exceed $3,625,000 for the public
purpose of providing financial assistance to community
development projects under Section 66.46 or Section 66.431, Wis.
Stats., consisting of acquisition and renovation of the Parkland
Mall; and
such general obligation bonds or its general obligation
promissory notes to finance the Project; and
WHEREAS it is necessary and desirable that the City issue
WHEREAS because of the anticipated use of the Project by
private parties for commercial purposes, the interest on bonds or
notes issued to finance the Project will be subject to Federal -
0 income taxation;
NOW, THEREFORE, BE IT RESOLVED that:
issue its taxable aeneral obliaation bonds or promisson notes
Section 1. Issuance of Bonds or Notes. The City shall
(the "Securities")-in the amouGt of $3,625,000bfor the purpose of
financing the Project.
Section 2. Sale of Securities. The Common Council hereby
authorizes and directs that the Securities be offered for public
sale. At a subsequent meeting, the Common Council shall consider
such bids for the Securities as may have been received and take
action thereon.
directed to publish a Notice of Sale in such newspapers and at Section 3. Notice of Sale. The City Clerk be and hereby is
such times as the City Clerk may determine and to cause copies of
a complete, official Notice of Sale and other pertinent data to
be forwarded to interested bidders as the City Clerk may
determine.
Q82\289463.1
an Official Statement concerning this issue to be prepared by the
City's financial advisor, Ehlers and Associates, Inc. The
appropriate City officials shall determine when the Official
Statement i@final for purposes of Securities and Exchange
Commission Rule 15c2-12 and shall certify said Statement, such
certification to constitute full authorization of such Statement
under this resolution.
Section 4. Official Statement. The City Clerk shall cause
Passed this 25th day of March, 1997.
Attest:
K. 2.JIL City Clerk