CCR1968194- 5 " .
RESOLUTION 8194-68
APPROVAL OF AGREEMENT BETWEEN CITY OF MUSKEG0
AND MUSEGO-NORWAY JT. DIST. 89
BE IT RESOLVED that the Common Council of the City of
Muskego does hereby approve of the attached agreement between
the City of Muskego and Muskego-Norway Jt. School District #9
which indicates that the District will pay a sewer service
charge to the City for the installation of the sanitary sewer
force main.
BE IT FURTHER RESOLVED that the City Clerk and the Mayor
are hereby authorized to sign the agreement in the name of
the City.
PASSED AND ADOPTED THIS i.b DAY OF !A ,1968.
n
ATTEST:
City'Clerk
.. ._ . -
AGREEMEN,T
i;
, ,. + ,b This Agreement is made between the CITY OF MUSKEGO,
hereinafter called City, and the CITY OF MUSKEGO-TOWN OF NORWAY
JOINT SCHOOL DISTRICT NO. 9., hereinafter called the District.
WHEREAS, the City has installed a sanitary sewer force
main to serve the property of the District known as the Muskego High
School at a cost of Eleven Thousand Seven Hundred Eighty ($1 1,780.00)
Dollars: and
WHEREAS, pursuant to Section 66.076 Statutes cities may
provide for the payment of the construction of laterals, mains and inter-
ceptor sewers through the levy of sewer service charges; and
,' WHEREAS, the District has the authority to levy a tax to
pay sewer service charges for the cost of the sewage facilities.
NOW, THEREFORE, IT IS AGREED by and between the City and
the District that the District will pay a sewer service charge to the City for
the installation of the sanitary sewer force main above referred to; that such
charge shall be in the amount of Eleven Thousand Seven Hundred Eighty
($1 1,780.00) Dollars together with interest at the rate of five (5%) per cent
per annum, said charge to be payable in ten (10) annual equal installments
together with interest thereon, the first payment to be computed from
April 1, 1968, to February 28, 1969, and payable on said date, succeeding
payments of interest to be computed on the unpaid balance on an annual basis
from February 28, 1969, and payable annually thereafter: all of said payments
shall be made by the District to the City Clerk, the District has the option of
C
paying all or part of the outstanding principal at any time it may desire to
do so together with interest computed to the date of payment without a penalty.
The District has a further option of refinancing said indebtedness pursuant to
statute at any time
The schedule of payments pursuant to the above agreement is
as follows:
- Date Balance Principal Payment Interest Total
2-28-69
2-28-70
2-28-71
2-28-72
2-28-73
2-28-74
2-28-75
2-28-76
2-28-77
2-28-78
$11,780.00
10,602.00
9,424.00
8,246.00
7,068.00
5,890.00
4,712.00
3,534.00
2,356.00
1,178.00
$1,178.00
1,178.00
1,178.00
1,178.00
1,178.00
1,178.00
1,178.00
1,178.00
1,178.00
1,178.00
$490.80
530.10
471.20
412.30
353.40
294.50
235.60
176.70
117.80
58.90
$1,668.80
1,708.10
1,649.20
1,590.30
1,531.40
1,472.50
1,413.60
1,354.70
1,295.80
1,236.90
Pursuant to a Resolution of the Common Council of the G'ITY-OF
MUSKEGO, thaagreement is hereby executed this /4 day of
C TY OF MUSKEG0 A
Pursuant to a Resolution of the School Board of the School
District, this agreement is hereby executed this 21st day of
November , 1968.
(c. /'? CC;t,& ' ALL.-.&
SecretaW.-