Sponsor
Alderman Friedel
Title
City of Racine, Wisconsin Resolution Waiving the Public Bidding Requirements of Wisconsin Statutes Section 66.1103(11)(b)1
WHEREAS, the City of Racine, Wisconsin (the “Municipality”), has by resolution of its Common Council expressed its intent to issue bonds in one or more series pursuant to Wisconsin Statutes Section 66.1103 in an amount not to exceed $7,000,000 for the purpose of financing on behalf of Premier Aluminum, LLC, a Delaware limited liability company (the “Borrower”), all or a portion of the costs of the construction of improvements to an existing facility owned by the Borrower in the Municipality, construction of an addition to the facility, acquisition and installation of equipment for such facility and addition and related improvements (the “Project”) for use in connection with the business of manufacturing permanent mold aluminum castings and related manufacturing and service activities;
WHEREAS, Wisconsin Statutes Section 66.1103(11)(b)1 provides that construction work which is let by contract and which has an estimated cost exceeding $5,000 may be financed with industrial revenue bonds only if the contract is let to the lowest responsible bidder and proposals for the contract are advertised by publishing a class 2 notice under Wisconsin Statutes Chapter 985;
WHEREAS, representations have been made to the Municipality that compliance with the notice and public bidding requirements in Section 66.1103(11)(b)1 may impair the prompt and efficient completion of the Project (a) because of the delays associated with those requirements and (b) because they may prohibit the Borrower from using the contractors which, in the Borrower’s judgment, are best suited to do work on the Project regardless of whether they are the “lowest responsible bidder” as that term is used in Wisconsin Statutes Section 66.1103(11)(b)1;
WHEREAS, Wisconsin Statutes Section 66.1103(11)(b)2 gives the Municipality authority to waive the...
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