Title
Resolution Awarding the Sale of $7,105,000 Taxable General Obligation Corporate Purpose Bonds.
Body
WHEREAS, on February 17, 2009, the Common Council of the City of West Allis, Milwaukee County, Wisconsin (the "City") adopted initial resolutions authorizing the issuance of general obligation bonds in an amount not to exceed $1,745,000 for the public purpose of financing community development projects in Tax Incremental District No. 5 (the "Project Initial Resolution"); and in an amount not to exceed $5,505,000 for the public purpose of refunding obligations of the City, including interest on them (the "Refunding Initial Resolution");
WHEREAS, pursuant to the provisions of Section 67.05, Wisconsin Statutes, within 15 days following the adoption of the Project Initial Resolution, the City Clerk caused a notice to electors to be published in the My Community NOW-Midwest, stating the purpose and maximum principal amount of the bond issue authorized by the Project Initial Resolution and describing the opportunity and procedure for submitting a petition requesting a referendum on the bond issue authorized by the Project Initial Resolution;
WHEREAS, to date, no petition for referendum has been filed with the City Clerk, and the time to file such a petition shall expire on March 19, 2009;
WHEREAS, on February 17, 2009, the Common Council of the City also adopted a resolution providing that general obligation bonds in an amount not to exceed $1,600,000 authorized by the Project Initial Resolution and general obligation bonds in an amount not to exceed $5,505,000 authorized by the Refunding Initial Resolution be combined, issued and sold as a single issue of bonds designated as "Taxable General Obligation Corporate Purpose Bonds" (the "Bonds") in the principal amount of not to exceed $7,105,000 for the purpose of paying the cost of the projects described in the Project Initial Resolution (the "Project") and the refunding described in the Refunding Initia...
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