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COMMON COUNCIL
OF THE
CITY OF MUSKEGO, WISCONSIN
Resolution No. 32-78
INITIAL RESOLUTION
POLLUTION CONTROL REVENUE BOND FINANCING
RELATING TO
ON BEHALF OF
MUSKEGO RENDERING CO.
WHEREAS, the City Of Muskego, Wisconsin (the "Munici-
pality") is a municipal corporation organized and existing
authorized by Section 66.521 Wisconsin Statutes, as amended
under and pursuant to the laws of the State of Wisconsin and is
(hereinafter sometimes referred to as the "Act"), to:
(a) issue industrial development revenue bonds to
finance all or any part of the costs of the construction,
reconstruction, rebuilding, rehabilitation, improving,
equipping, reequipping, acquisition, purchase, installation,
or remodeling of a project which qualifies under the Act and
supplementing, maintaining, repairing, enlarging, extending
the improvement of the site therefor; and
participant pursuant to which the eligible participant
(b) enter into a revenue agreement with an eligible
agrees to cause said project to be constructed and to pay
the Municipality an amount of funds sufficient to provide
for the prompt payment when due of the principal of and
interest on said industrial development revenue bonds;
and
WHEREAS, Muskego Rendering Co., a Wisconsin corporation
control project in the Municipality, and the Company has repre-
(the "Company") has been considering undertaking a pollution
sented to the Municipality that it would be an encouragement and
inducement for it to proceed if the pollution control project
could be financed with industrial development revenue bonds;
and
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WHEREAS, the pollution control project would be
for the purpose of certain pollution control facilities as
more particula'rly described in Exhibit A hereto (hereinafter
called the "Project"); and
of the Project would be approximately $400.000 but, with
WHEREAS, the Company has estimated that the cost
allowance for modifications, design changes, and inflation
could be as high as $450,000; and
Municipality to promote, attract, stimulate, rehabilitate
WHEREAS, it is in the public interest of the
and revitalize commerce, industry and manufacturing, to
promote the betterment of the environment and the economy of
the Municipali,ty and to stimulate a large flow of private
investment funds into the Municipality; and
this body that the Project is a qualified "project" within
WHEREAS, it is the finding and determination of
participant" within the meaning of the Act; and
the meaning of the Act and that the Company is an "eligible
WHEREAS, it is the finding and determination of
this body thatlthe Municipality would derive public benefits
from the Project and its operation by the Company, including
by way of illustration but not limitation the following:
the betterment of the environment in the Municipality; the
provision and retention of gainful employment opportunities
for the citizens of the Municipality; and the stimulation of
the flow of investment capital into the Municipality with
resultant beneficial effects on the economy in the Municipa-
lity; and
WHEREAS, it is the finding and determination of
this body that, the public interest will be served if the
Municipality were to encourage and induce the Company to
undertake the P,roject in the Municipality:
NOW, THERE FORE, BE IT RESOLVED:
1. Subject to the conditions specified in para-
graph 2, the Municipality shall pursue and consummate a
financing having the following elements:
[a) ,,The Municipality shall issue pollution
control revenue bonds pursuant to the Act in such
amount not in excess of $450,000 as the Company shall
request, provided, however, that the actual amount
shall not be greater than the then estimated aggregate
cost of providing the Project and paying the costs
incident to the financing (said bonds being hereinafter
called the "Pollution Control Bonds").
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(b)' The Pollution Control Bonds shall be payable
solely o,ut of revenues derived from the Company or otherwise
provided: for pursuant to the terms of a lease, sale, loan,
called the "Revenue Agreement") to be entered into between
installment purchase or similar agreement (hereinafter
the Municipality and the Company.
(c) The Revenue Agreement shall require the Company to
Municipa,lity with revenues sufficient to pay when due the
acquire,; construct or install the Project and to provide the
Control Bonds.
principal of, premium, if any, and interest on the Pollution
(a)' The Pollution Control Bonds shall have such
maturities, interest rates and redemption features as the
Company shall propose, provided that such terms shall be
substantially similar to the terms of similar bonds secured
credit to that of the Company.
the obligations of companies having substantially equivalent
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Municipality shall be on the following conditions:
2. The issuance of the Pollution Control Bonds by the
(a) The Pollution Control Bonds shall not constitute
any Stat,e constitutional provision or statutory limitation.
an indebtedness of the Municipality within the meaning of
(b)' The Pollution Control Bonds shall not constitute
or give rise to a pecuniary liability of the Municipality or
a charge against its general credit or taxing powers.
(c) If the Municipality shall hold title to the
Project while the Pollution Control Bonds are outstanding,
the Company shall be subject to property taxation in the
same amount and to the same extent as though Company were J the owner of the Project.
(d) The Company shall be responsible for finding a
purchaser or purchasers for all of the Pollution Control
Bonds.
9 (e) The out-of-pocket costs in connection with the
issuance, and sale of the Pollution Control Bonds shall be
paid either from the proceeds of the Pollution Control Bonds
or by the Company.
Bonds: (i) the electors of the Municipality shall have been (f) Prior to the issuance of the Pollution Control
given the opportunity to petition for a referendum on the
matter of the Pollution Control Bond issue as required by
the Act; (ii) either no such petition shall be timely filed
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or such petition shall have been filed and said referendum
shall have approved the Pollution Control Bond issue; and
(iii) this body, by further resolution, shall have author-
and the Revenue Agreement.
ized and approved the terms of the Pollution Control Bonds
pursuant to the Act, and the delivery of the Pollution (9) The Pollution Control Bonds shall be issued
Control Bonds shall be accompanied with the unqualified
approving legal opinion of Messis. Foley & Lardner, bond
counsel, Milwaukee, Wisconsin, or such other nationally
recognized firm of bond attorneys as shall be acceptable to
the Municipality and the Company.
Resolution to be published once in The Muskego Sun, (-the Munici-
3. The Clerk shall cause notice of adoption of this
pality's official newspaper, for the publication of notices
pursuant to Chapter 985 of the Wisconsin Statutes)-in substan-
tially the, form attached to this Resolution, and shall cause a
copy of such public notice together with a copy of this Resolu-
tion to be filed with the Secretary of Business Development of
the State of Wisconsin within 10 days following publication of
such notice.
the meaning of the Act and a "bond resolution or other similar
4. This Resolution is an "initial resolution" within
official action" within the meaning of Section 1.103-8(a)(5) of
the Treasury Regulations promulgated under Section 103 of the
Internal Revenue Code of 1954, as amended.
5. This Resolution shall be effective immediately
upon its passage and approval. Unless the Pollution Control
authorizations given by this Resolution shall expire on February
Bonds shall have been issued prior thereto, the authorities and
1, 1979 or on such later date as this body may specify by reso-
lution adopted either before or after such date.
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[Form of Notice to be Published by the Clerk]
NOTICE TO ELECTORS
OF THE
CITY OF MUSKEGO
Muskego, Wisconsin, at a lawful meeting held on the 28th day
T$KE NOTICE that the Common Council of the City of
of February, 1978, adopted an initial resolution, pursuant
to Section 66.521 of the Wisconsin Statutes, authorizing the
issuance of not to exceed $450,000 principal amount of
purpose of the bond issue is to finance certain pollution
Rendering Co'. , a Wisconsin corporation (the "Company"). The
control facilities.
I pollution control revenue bonds on behalf of Muskego
AN INDEBTEDNESS OF THE CITY OF MUSKEGO; NOR SHALL THE
THE POLLUTION CONTROL BONDS SHALL NOT CONSTITUTE
POLLUTION CONTROL BONDS GIVE RISE TO ANY PECUNIARY LIABILITY
OF THE CITY;; NOR SHALL THE POLLUTION CONTROL BONDS BE A
CHARGE AGAINST THE GENERAL CREDIT OR TAXING POWER OF THE
CITY. RATHER, THE POLLUTION CONTROL BONDS SHALL BE PAYABLE
SOLELY FROM~ THE REVENUES AND OTHER AMOUNTS DERIVED OR
THE COMPANY. ~
RESULTING FR,OM A REVENUE AGREEMENT TO BE ENTERED INTO WITH
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document and may be inspected by any elector of the City at
The aforesaid initial resolution is a public
the City Hall, W182S8200 Racine Avenue, during business
hours.
OF MUSKEGO MAY PETITION FOR A REFERENDUM ON THE QUESTION OF
TAKE FURTHER NOTICE THAT THE ELECTORS OF THE CITY
THE POLLUTION CONTROL BOND ISSUE. Section 66.521(10)(d) of
the Wisconsin Statutes, provides:
this section without submitting the proposition to the
"(d) The governing body may issue bonds under
electors of the municipality for approval unless within
30 days' from the date of publication of notice of
adoption of the initial resolution for such bonds, a
petition, signed by not less than 5% of the registered
electors of the municipality, or, if there is no
registration of electors in the municipality, by 10% of
the num1ber of electors of the municipality voting
as determined under s. 115.01(13), is filed with the
for the office of governor at the last general election
clerk of the municipality requesting a referendum upon
petition is filed, the bonds shall not be issued until
the question of the issuance of the bonds. If such a
approved by a majority of the electors of the municipa-
lity voting thereon at a general or special election."
/s/ Bette J. Bowyer
City Clerk
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EXHIBIT A
The pollution control project is a waste water
treatment facility consisting of an Aeration Pond,
Mechanical Clarifier and Settling Ponds including, but not
limited to, the following personal property, machinery
and equipment :
TYPE OF EQUIPMENT
Aeration Equipment Submersible Pumps
Blowers Chemical Feed Pump i
3 Piping, Valves, Installation etc. Heating & Ventilating
Clarifier Equipment
Electrical & Installation Flow Measuring Unit
- Turbine Pumps
Black Topping
Fencing
Concrete & Reinforcing Steel
plus overhead
Masonry
Miscellaneous Metals
Carpentry
Roofing
Insulation'
Sheet Metal
Windows & Glazing, Doors ti
Frames & 'Hardware
Gunite Slope Protection
for aerated Pond
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APPROVAL OF RESOLUTION BY MAYOR
The attached Resolution NO. 32-78 , entitled
INITIAL RESOLUTION
RELATING TO
ON BEHALF OF
POLLUTION CONTROL REVENUE BOND FINANCING
MUSKEGO RENDERING CO.
CERTIFICATIONS BY CLERK
I, Bette J. Bowyer, being first duly sworn, do hereby
depose and certify that I am the duly (appointed) (elected),
qualified and, acting Clerk of the City of Muskego, in the County
of Waukesha, State of Wisconsin, and as such I have in my posses-
sion, OK have access to, the complete corporate records of said
City and of its Common Council; that I have carefully compared
the transcript hereto attached with the aforesaid corporate records;
that said transcript hereto attached is a true, correct and complete
copy of all the *-%rate records in relation to the adoption of
Resolution No. entitled:
INITIAL RESOLUTION
RELATING TO
POLLUTION CONTROL REVENUE BOND FINANCING
ON BEHALF OF
MUSKEG0 RENDERING CO.
I do hereby further depose and certify as follows:
1. Said resolution was considered for adoption by the
Common Council at a meeting held in the City Hall at 7:30 P.M. on
Council and was held in open session in compliance with Subchapter
February 28, 1978. Said meeting was a regular meeting of the Common
IV of Chapter '19 of the Wisconsin Statutes.
and public notice thereof was given not less than 24 hours prior
2. Said resolution was on the agenda for said meeting
to the commencement of said meeting in compliance with Section
by posting on' the bulletin board in the City Hall, by notice to
19.84 of the, Wisconsin Statutes, including, without limitation,
those news media who have filed a written request for notice of
meetings and by notice to the official newspaper of the City.
3. 'Said meeting was called to order by Jerome Gottfried,
Mayor, who chaired the meeting. Upon roll I noted and recorded that
the following Aldermen were present:
Dumke Ford Pienkos
Van Lanen
Tomczyk
WaLlner
and that the following Aldermen were absent:
Schaumberg
I noted and recorded that a quorum was present. Various matters
out intervention of any closed session. One of the matters taken
and business were taken up during the course of the meeting with-
up was said resolution which was introduced by and its adoption
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was moved by ,Alderman Ford , and seconded by Alderman
D~LL~-. Following discussion and after all
Aldermen who desired to do so had expressed their views for or
against said yesolution, the question- was called and upon roll
being called and the continued presence of a quorum being noted,
the recorded vote was as follows:
Aye: D&e Ford
Prenkos
Tomczyk
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Nay: Van Lanen and Wallner
Abstain: none
Whereupon the, Mayor declared said resolution adopted, and I so
recorded it.
2-28 , 1978, and I have so recorded.
4. Said resolution was approved by the Mayor on
5. I have caused the "Notice to Electors" to be
published in the form and place specified in said resolution; and
copy of said resolution with the Secretary of the Department of
I have filed a copy of said notice as published together with a
Business Development of the State of Wisconsin within 10 days
following the publication of said notice.
the seal of t,he City hereto on this 28 day of February ,
IN WITNESS WHEREOF', I have signed my name and affixed
1978. ." . ___
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d. [Municipal Seal]
-. ? Clerk
.. .. Bette J. Bowyer
STATE OF WISCONSIN )
COUNTY OF WAUKESHA )
) ss
Subscribed and sworn to before me this day, the
date last above written. n