Title
Resolution Awarding the Sale of $6,975,000 General Obligation Corporate Purpose Bonds, Series 2010C.
Body
By Administration and Finance Committee
WHEREAS, on February 16, 2010, 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 $1,980,000 for the public purpose of financing water system improvements; in an amount not to exceed $1,320,000 for the public purpose of financing sanitary sewer improvements; in an amount not to exceed $1,700,000 for the public purpose of financing storm sewer improvements; and in an amount not to exceed $2,715,000 to finance street improvement projects (collectively, the "Initial Resolutions");
WHEREAS, pursuant to the provisions of Section 67.05, Wisconsin Statutes, within 15 days following the adoption of the Initial Resolutions, 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 issues authorized by the Initial Resolutions and describing the opportunity and procedure for submitting a petition requesting a referendum on the bond issues authorized by the Initial Resolutions;
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 18, 2010;
WHEREAS, on February 16, 2010, the Common Council of the City also adopted a resolution (the "Set Sale Resolution") providing that the general obligation bond issues authorized by the Initial Resolutions be combined, issued and sold as a single issue of bonds designated as "General Obligation Corporate Purpose Bonds" (the "Bonds") for the purpose of paying the cost of the projects described in the Initial Resolutions (the "Project");
WHEREAS, the Common Council deems it to be necessary, desirable and in the best interest of the City that the Bonds be issued in...
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