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Home My WebLink AboutResolution 1988 (01) STATE OF WISCONSIN BOARD 01? COMMISSIONERS OF PUBLIC LANDS STATE TRUST FUND LOAN APPLICATION COUNTY Chapter 24 & Section 67.12(12) Wisconsin Statutes DATE SENT AND INITIALS DATE RECEIVED y RESOLUTION # / (88) Y State Trust Fund Loan to Purchase County Library Building TO: BOARD OF COMMISSIONERS OF PUBLIC LANDS We, the undersigned chairman and clerk of the County of St. Croix Wisconsin, in accordance with the provisions of Chapter 24 of the Wisconsin Statutes, do hereby make application for a loan of seventy one thousand five hundred and no /100 Dollars ($ 71,500.00 ) from the Trust Funds of the State of Wisconsin, for the purpose of purchasing a building presently being leased by the County. . The loan is to be contipue i for a term of • .; ten years from the 15th day of March preceding the date OA Loan is ` made. The loan is to be repaid in annual principal installments, as provided by 'le with interest at the rate of 61 percent per annum. We agree to the execution and signing of such certificates of indebtedness as the Board may prepare and submit, all in accordance with Chapter 24, Wisconsin Statutes. The application is based upon compliance on the part of the county with the provisions and regulations of the statutes above referred to, as set forth by the following statements which we do hereby certify to be correct and true. ' - The meeting of the board of supervisors of the County of st . Croix , Wisconsin, which approved and authorized this application for a loan was a regularly called meeting held on the 12th day of January , 19 88 . At the aforesaid meeting a resolution was passed by a vote of not less than two - thirds of the members of the board of supervisors approving and authorizing an application to the Board of Commissioners of Public Lands, Wisconsin, for a loan of seventy one thousand five hundred and no /1C9ollars ($71,500.00 ) from the Trust Funds of the State of Wisconsin to the County of st. Croix , Wisconsin, for the purpose of purchasing a building presently being leased by the County. . That at the same time and place, the board of supervisors of the County of St. Croix by a vote of not less than two- thirds of the members, adopted a resolution levying upon all the taxable property in the county, a direct annual tax sufficient in amount to pay the interest on the loan and the annual installments of principal, all in accordance with Article XI, Sec. 3 of the Constitution and Sec. 24.66(5), Wisconsin Statutes. A copy of the aforesaid resolutions, certified to by the as adopted at the meeting, and as recorded in the minutes o f'the meeting, accompanies this application. A statement of the equalized valuation of all the taxable property within the County of St. Croix , certified to by the clerk, accompanies this application. Given under our hands in the County of St . Croix P Wisconsin, this /• day of \A Thiat* , 19 88 . • s 11 II i � i7`i��/rIL . • erk -1- • FORM OF RECORD The following preamble and resolutions . were presented by Supervisor ,S 1 —rSnn F; nanre C'nmm_ " and Were read to the meeting. By the provisions of sec. 67.12(12) of the Wis. Stats., all municipalities may borrow money for such purposes in the manner prescribed, and, By the provisions of Chapter 24. of the Wisconsin Stats., the Board of Commissioners of Public Lands of Wisconsin is authorized to make loans from the State Trust Funds to municipalities for such purposes. (Municipality as defined by sec. 24.60(2), Wis. Stats., means a town, village, city, county, school district or VTAE district.) THEREFORE, BE IT RESOLVED, that the County of s t . C rn ix , Wisconsin, borrow from the Trust Funds of the State of Wisconsin, the sum of seventy rnP thcmaand f i VP hnndrei Dollars ($ 71 , 500 _ 00 ) for the purpose of and no /100 purchase of a bldg. presently being leased by the County and for no other purpose. The loan is to be payable within ten years from the 15th day of March preceding the date the loan is made. The loan will be repaid in annual principal installments with interest at the rate of 61/4 percent per annum from the date of making the loan to the 15th day of March next and thereafter annually as provided by law. RESOLVED FURTHER that there, shall be raised and there is levied upon all taxable property, within the County of S t c rn ix , State of Wisconsin, a direct annual tax for the purpose of paying interest and principal on the loan as they become due. RESOLVED FURTHER, that no money obtained by the County of St. Croix by such loan from the state be applied or paid out for any purpose except the purchase of building presently being leased by the county without the consent of the Board of Commissioners of Public Lands. RESOLVED FURTHER, that in case the Board of Commissioners of Public Lands agrees to make the loan, that the chairman and clerk of the County of St. Croix Wisconsin, are authorized and empowered, in the name of the county to execute and deliver to the Commission, certificates of indebtedness, in such form as required by the Commission, for any sum of money„ that may be loaned to the county pursuant to this resolution. The chairman and clerk of the county will perform all necessary actions to fully carry out the provisions of Chapter 24 and Sec. 67.12(12), Wis..Stats., and these resolutions. RESOLVED FURTHER, that this preamble and these resolutions and the aye and no vote by which they were adopted, be recorded, and that the clerk of this county forward this certified record, along with the application for the loan, to. the Board of Commissioners of Public Lands of Wisconsin. Supervisor Swenby,, 2nd •'by Stine ry Willink adoption of the foregoing preamble and resolutions. -2- The question being upon the adoption of the foregoing preamble and resolutions, a vote was taken by ayes and noes, which resulted as follows: Supervisor Robert Draxier voted Absent Supervisor Roscoe Garske Voted Absent Supervisor Thomas Dorsey voted Yes Supervisor Robert Boche voted Yes Supervisor Sharon Hicok voted Yes Supervisor Herman Jensch voted Yes Supervisor. Morgan O'Brien voted Yes Supervisor " Lester Giese voted Yes Supervisor Vern Nelson voted Yes Supervisor Milton Meinke voted Yes Supervisor George Sinclear voted Absent Supervisor Paul Swenby voted Yes Supervisor Linda Luckey voted Yes Supervisor Bernard Kinney voted Yes Supervisor Betty Evjen voted Yes Supervisor Richard Sherley voted Yes Supervisor. J. Sherman Pptprcnn voted Ahcant Supervisor Thnmaa rn (nnrial i voted y„ Supervisor Norman Anderson voted Yes Supervisor Arnold Bertelsen voted No Supervisor Julie Sneer voted ypo Supervisor Ken Sumner voted y Supervisor Thomas Caflisch voted No Supervisor Vernon Dull voted Yes Supervisor James Lubich voted Yes Supervisor Richard Peterson voted Yes -3- Supervisor Charlpa Gran}; voted AhaPnt Supervisor isor f Prrg p Hnp voted YP Supervisor Wayne Wi 11i nk voted Ye Supervisor Attriur Best voted Absent Supervisor Edib Sweitzer voted Ahsent Supervisor voted Supervisor voted Supervisor voted Supervisor " u voted Supervisor voted Supervisor voted Supervisor voted Supervisor voted Supervisor voted Supervisor voted Supervisor voted Supervisor. voted Supervisor voted Supervisor voted Supervisor voted Supervisor voted At least two - thirds of the members of the county board of supervisors of the County of St. Croix , State of Wisconsin, having voted in favor of the preamble and resolutions, they were declared adopt 3d. STATE OF WISCONSIN County of St. Croix I, Jill . Ann Berke Clerk of the County of ' St. Croix , State of Wisconsin, do hereby c?rtii' that the fore; oirez z., u true copy of the record of the proceedings of the board of supervisors of the County of st. 'r.rntx at a meeting held on the 12th day of , Tanuary , 19 88 , relating to a loan from the State Trust Funds. I further certify that I have compared the same with the original record thereof in my custody as clerk, and that the same is a true copy thereof, and the whole of such original record. I further certify that the whole number of members constituting by law the board of supervisors of the County of St. Croix is thirty - one and that the original of the preamble and resolutions was adopted at a meeting of the board of supervisors by a vote of 22 - ayes to 2 noes and that the vote was taken in the manner provided by law and that the proceedings are fully recorded in Vol. on page of the records of the county. IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed the seal of the County of St. Croix , this loth day of January , 19 88 '/S AY 4 ir z Cler County of St. Croix -5- • t - STATE OF WISCONSIN COUNTY OF v . . Croix TO: THE BOARD OF COMMISSIONERS OF PUBLIC LANDS I, Jill A. Berke , C)erk of the County of St. Croix Wisconsin, do hereby certify that it appears by the books, files and records in my office that the valuation of all taxable property in the .County of st . Croix is as follows: ASSESSED VALUATION FOR THE YEAR 1987 * $ 1,256,614,556 EQUALIZED VALUATION FOR THE YEAR 1987 * $ 1.277.054,18Q * Latest year available. I further certify that the whole existing " indebtedness of the County of sr _ crn-Lx , Wisconsin, is as follows: (Set forth each item of indebtedness.) Hospital Bonds $ 210,000 Health Care Center Bonds $ 3,125,000 Promissory Notes $ 150,000 State Trust Fund Loan $ 42,000 11 11 11 " $ 116,640 11 42,805 11 11 ;I 11 $ 356.800 n n ,, 11 $ 150,000 TOTAL INDEBTEDNESS $ 4,193,245 lerk of the Co my of St. Croix • State of Wisconsin. January 14. , 88 THE TOTAL INDEBTEDNESS, INCLUDING THE TRUST FUND LOAN APPLIED FOR, MAY NOT EXCEED 5% OF THE VALUATION OF THE TAXABLE PROPERTY AS EQUALIZED FOR STATE PURPOSES. (See. 24.63(1), Wis. Stats., 1981 -82). -6-