https://cityofracine.legistar.com/Gateway.aspx?M=LD&From=RSS&ID=2093405&GUID=0F670D10-AA3B-415A-B581-9693000218C6Legistar15https://cityofracine.legistar.com/Gateway.aspx?M=LD&From=RSS&ID=2093405&GUID=0F670D10-AA3B-415A-B581-9693000218C60F670D10-AA3B-415A-B581-9693000218C6-2016-06-18-08-50-15Title: RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE OF $6,500,000 WATERWORKS SYSTEM MORTGAGE REVENUE BONDS AND PROVIDING FOR THE PAYMENT OF SAID BONDS AND OTHER DETAILS AND COVENANTS WITH RESPECT THERETO WHEREAS, the City of Racine, Racine County, Wisconsin (the "Municipality") owns and operates a Waterworks System (the "System") which is operated for a public purpose as a public utility by the Municipality; WHEREAS, under the provisions of Section 66.0621 of the Wisconsin Statutes any municipality may, by action of its governing body, provide funds for extending, adding to and improving a public utility or to refund obligations issued to finance or refinance such extensions, additions and improvements from the proceeds of bonds, which bonds are to be payable only from the revenues received from any source by such utility, including all rentals and fees; and which bonds may be additionally secured by a mortgage lien upon such utility; WHEREAS, the Municipality has outstanding its Waterworks System Mortgage Revenue Bonds, dated November 1, 2004 (the "November 2004 Bonds"), its WaterwoSat, 18 Jun 2016 08:50:15 GMT