Title
Resolution authorizing the sale of $4,940,000 General Obligation Corporate Purpose Bonds, Series 2006A.
Body
WHEREAS on March 7, 2006, the Common Council of the City of West Allis, Milwaukee County, Wisconsin (the "City") adopted initial resolutions (the "Initial Resolutions") authorizing the issuance of general obligation bonds for the following public purposes and in the following amounts:
$2,500,000 to finance street improvement projects;
$1,200,000 to finance sanitary sewer improvements;
$1,000,000 to finance water system improvements; and
$240,000 to finance community development projects in Tax Incremental District No. 5;
WHEREAS the City has determined to issue the bonds authorized by the Initial Resolutions in the following principal amounts and for the following purposes:
$2,500,000 to finance street improvement projects;
$1,200,000 to finance sanitary sewer improvements;
$1,000,000 to finance water system improvements; and
$240,000 to finance community development projects in Tax Incremental District No. 5;
WHEREAS the general obligation bonds authorized by the Initial Resolutions which are now to be issued shall be combined into one issue of "General Obligation Corporate Purpose Bonds, Series 2006A" (the "Bonds") in the aggregate principal amount of $4,940,000;
WHEREAS the City has duly received bids for its proposed issue of $4,940,000 General Obligation Corporate Purpose Bonds, Series 2006A (the "Bonds") as described on the bid tabulation attached hereto as Exhibit A and incorporated herein by this reference; and
WHEREAS it has been determined that the best bid received was that submitted by the bidder (the "Purchaser") whose bid is attached hereto as Exhibit B and incorporated herein by this reference (the "Proposal");
NOW, THEREFORE, BE` IT RESOLVED that:
Section 1. Award. The bid of the Purchaser for the purchase price set forth in the Proposal be and it hereby is accepted and the Mayor and City Clerk are authorized and...
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