CCR1967063RESOLUTION #63-67
AUTHORIZATION TO NEGOTIATE FOR A SHORT-
TERM LOAN FOR SEWER PURPOSES
WHEREAS, the first phase of the City's municipal sewer program
has begun, and
IC-IEREAS, it is to the City's advantage to delay bonding until
the cost of the total sewer program can be determined, and
WHEREAS, it would be necessary to provide funds for Project
MSS-1-67 and MSS-2-67, total cost of which would not exceed
$500,000.00, and
WHEREAS, the Public Sewer Committee has recommended that this
interim financing be provided for under Statute 67.12 (12)
Wisconsin Statutes, which permits municipalities to borrow
monies on promissory notes,
THEREFORE, BE IT RESOLVED that the City of Muskego does hereby
authorize the Finance Committee to negotiate a promissory note
in an amount not to exceed $500,000.00.
BE IT FURTHER RESOLVED thgt the Finance Committee shall report
their findings and recommendations back to the Common Council.
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PUBLIC SEWER COMMITTEE
ATTEST:
0 City Clerk