Title
Resolution Providing for the Sale of Not to Exceed $4,880,000 General Obligation Refunding Bonds of the City of West Allis.
Body
WHEREAS on March 7, 2006, the Common Council of the City of West Allis, Milwaukee County, Wisconsin (the "City") adopted Resolution No. R-2006-0081 (the "Initial Resolution") authorizing the issuance of general obligation bonds in an amount not to exceed $14,000,000 for the public purpose of refunding obligations of the City, including interest on them; and
WHEREAS it is necessary and desirable that a portion of the bonds authorized by the Initial Resolution now be issued;
NOW, THEREFORE, BE IT RESOLVED that:
1. The City shall issue bonds in an amount not to exceed $4,880,000 pursuant to the Initial Resolution, which bonds shall be designated "General Obligation Refunding Bonds" (the "Bonds").
2. The City Clerk shall cause the sale of the Bonds to be publicized in such manner and at such times as the Clerk may determine and cause copies of the complete Official Notice of Sale and other pertinent data to be sent to interested bidders as the Clerk may determine.
3. At its meeting on September 19, 2006, the Common Council shall consider such bids as may have been received and take action thereon.
4. The City Clerk shall cause an Official Statement concerning this issue to be prepared by the City's financial consultant, Stifel, Nicolaus & Company, Incorporated. The appropriate City officials shall determine when the Official Statement is final for purposes of Securities and Exchange Commission Rule 15c2-12 and shall certify said Statement, such certification to constitute full authorization of such statement under this resolution.
ADM\ORDRES\4.8K RefundBond 0906