86-3844 PH Omaha Hotel IRBRESOLUTION NUMBER 86-3844
A RESOLUTION RELATING TO A PROJECT UNDER THE ECONOMIC
DEVELOPMENT REVENUE BOND ACT; CALLING FOR A PUBLIC HEARING
THEREON.
BE IT RESOLVED by the Board of Commissioners of the City of Salina,
' Kansas (the City), as follows:
SECTION 1
Recitals
.1.1. The City is authorized by the Economic Development Revenue
Bond Act, K.S.A., Section 12-1749 et seq. (the Act), to issue its revenue
bonds to pay all or part of the costo c� onstructing commercial facilities, and to
enter into leases and lease -purchase agreements with respect to such facilities
with any person, firm or corporation.
1.2, Omaha Hotel, Inc., a Kansas corporation (the Company) has
requested that the City issue revenue bonds in an aggregate total amount not to
exceed $6,000,000 (the Bonds) to finance all or part of the cost of a project
consisting of an approximately 195 -room hotel and convention center (the Project)
and to enter into a lease -purchase agreement with the Company satisfying the
requirements of the Act.
1.3. By Resolution Number 85-3765, adopted March 4, 1985, this Board
expressed the preliminary intention of the City to issue its revenue bonds under
the Act in a principal amount not to exceed $6,000,000 (the Bonds) to pay all or
part of the cost of the Project and to lease the Project to the Company.
SECTION 2
' Public Hearing
2.1 Section 103(k) of the Internal Revenue Code of 1954, as amended,
and regulations promulgated thereunder, requires that prior to this issuance of
the Bonds, this Board approve the Bonds and the Project, after conducting a
public hearing thereon. A public hearing on the proposal to undertake and
finance the Project through the issuance of the Bonds is hereby called and shall
be held on June 16, 1986, at 4:00 o'clock p.m., at the City -County Building.
.2.2, The City Clerk shall cause notice of the public hearing to be
published in The Salina Journal, the official newspaper of the City and a
newspaper of general circu ation in the City, at least once not less than fourteen
(14) days prior to the date fixed for the public hearing. The notice to be
published shall be in substantially the following form:
NOTICE OF PUBLIC HEARING ON A PROPOSED PROJECT AND
THE ISSUANCE OF ECONOMIC DEVELOPMENT REVENUE BONDS
FOR OMAHA HOTEL, INC.
CITY OF SALINA, KANSAS
NOTICE IS HEREBY GIVEN that the Board of City Commissioners of
the City of Salina, Kansas (the City), will meet on June 16, 1986, at 4:00
o'clock p.m., in room 200, City -County Building, 300 West Ash, Salina, Kansas,
' for the purpose of conducting a public hearing in accordance with Section 103(k)
of the Internal Revenue Code of 1954, as amended (the Code) on a proposal that
the City issue revenue bonds, in one or more series, under the Economic
Development Revenue Bond Act, K.S.A., Section 12-1740, et seq., in order to
pay all or a part of the cost of a project. The proposed project will consist of
the acquisition of land in the City and the construction and equipment thereon of
an approximately 195 -room hotel and convention center (the Project) to be leased
to Omaha Hotel, Inc., a Kansas Corporation (the Company) under a
lease -purchase agreement. The project will be located at 1600 West Crawford in
the City.. The maximum aggregate principal amount of the proposed bond issue
is $6,000,000, The Bonds shall be limited obligations of the City, and the Bonds
and interest thereon shall be payable solely from the revenue pledged to the
payment thereof, except that such Bonds may be secured by a mortgage and
other encumbrance on the Company's leasehold interest in the Project. No
holder of any such Bonds may be secured by a mortgage and other encumbrance
on the Company's leasehold interest in the Project. No holder of any such
bonds 'shall ever have the right to compel any exercise of the taxing power of
the City to pay the Bonds or the interest thereon, nor to enforce payment
against any property of the City except the money payable by the Company to
the City and pledged to the payment of the bonds.
In accordance with K.S.A., Section 12-1744e, notice is further given
that on or after the date of such hearing the Board of Commissioners intends to
adopt an ordinance authorizing the issuance of such revenue bonds and the
lease -purchase of the Project to the Company. A copy of Resolution Number
85-3765, adopted by the Board of City Commissioners on March 4, 1985,
expressing the intention of the City to issue the Revenue Bonds to finance the
Project, is on file with the City Clerk and is available for public inspection
during normal business hours.
All persons interested may appear and be heard at the time and place
set forth above, or may file written comments with the City Clerk prior to the
date of the hearing set forth above.
Dated: May 29, 1986.
BY ORDER OF THE BOARD OF CITY
COMMISSIONERS
1 1
By D. L. Harrison, City Clerk
2.3. A copy of Resolution Number 85-3765 is hereby ordered placed on
file with the City Clerk and shall be available for public inspection, following
publication of the notice of public hearing, during normal business hours.
' Adopted by the Board of City Commissioners and signed by the Mayor
this 29th day of May, 1986.
/ r
fseM./Ritter, Mayor
i
[SEAL]
ATTEST:,
D. Lr% Harr'isoh, City Clerk
Affidavit of Publication
Following is a true and correct copy of Notice of Public Hearing
terruptedly published for five consecutive years prior to first
(PablisfiaManT e 59)a Journal
together with proof of publication of the same.
ro
publication of attached notice, and that the attached
NOTICE OF PUBLIC HEARING
ON A PROPOSED PROJECT AND
Notice.of Public Hearing
THE ISSUANCE OF ECONOMIC
Subscribed and sworn to before me, this ;
' DEVELOPMENT REVENUE BONDS
AFFIDAVIT
FOR OMAHA HOTEL, INC. '
1
CITY OF SALINA, KANSAS
has been correctly published in said newspaper
NOTICE 15HEREBYGIVEN that the
Board of City Commissioners of the City
of Salina,Kansas (the City), will meet
Jane A. Glenn
on June 16; 1986, a10:00 o'clock P.M.,
I, , being duly
in Room 200, City -County Building, 300
Notary Public
West Ash, Salina, Kansas, for the pur-
. May -3 0s tg
in the issue of __. y , —3�.
ease of, conducting a public hearing in
sworn, declare that I am the AdvertisingManager of THE -
g
accordeaewBh Section l o3 (k) of the
Internal Revenue Code of as
O. L. HARRISON
amended (the code) on o oral
one
NOTARY PUBLIC
ds, in 0
the City issue revenue bonds, in one or
SALINA JOURNAL, a daily newspaper published at Salina, (more
1
series;funder the Economic be -
velapmert Revenue Bond Act,. K.S.A.,
1
Section 12.1740, et seq., in order to pay
MY APPT. EXPIRES JULY 31, 1909
all or a part o1 the cost of a project. The
Saline County, Kansas, and of general circulation in said -
proposed proiOct wm can.ist of ,he
acquisition of load in the City and the
construction and equipment thereon of
county, which newspaper has been continuous) and unln-
YY
an approximately 195 room hotel and
convention center (the Project) to be
loosed to Omaha Hotel, Inc., a Kansas
terruptedly published for five consecutive years prior to first
lease -purchase agreement. The project
will be located at 1600 West Crawford)
in the City..The maximum aggregate
publication of attached notice, and that the attached
isueamountof the proposed bond
sane Is principal amount
,000. The Bonds shall be
limited obligations of the City, and the
Bonds and interest thereon shall be
Notice.of Public Hearing
payable solely from the revenue
Subscribed and sworn to before me, this ;
pledged to the payment thereof, ex
kept that such Bonds may be secured by
1
a mortgage and other encumbrance an
has been correctly published in said newspaper
the Company's leasehold interest in the
Project. No holder of any such bonds
shall ever hove. the right to compel any
times, _ : __._.,3he first publication being given
exercise of the taxing power of the City
m pay the Bands at the interest
Vhereon, nor to .enforce payment
Notary Public
against any properly of he City except
. May -3 0s tg
in the issue of __. y , —3�.
the money o,lale by the Company to
.the City and pledged to the payment of
the bonds.
In accordance with K.S.A., Section
on
further givenring
the
r alter the dote of such hearing the
orafter he da a
2
Board of City Commissioners intends to
the
Subscribed and sworn to before me, this ;
adopt on ordinance authorizing
issuance of such revenue bonds and
the lease -purchase of the Project to the
da of June A.D.19
y
'Company. A copy of Resolution No. 85
3765, adopted by the Board of City
Commissioners on March d, 1985, ex
f
pressing the intention of the City tc
issue the revenue bonds thence the
Project, is.on file with the City Clerk
Notary Public
and is available for public inspectior
during normal business hours.
All persons interested may appea
O. L. HARRISON
s
place se
and be heard at the time and e
aearn
NOTARY PUBLIC
forth above, or may lite written
ments with'the City Clerk priorto th,
STATE OF KANSAS
date of the hearing set forth above.
Dated: May 29, 1986..
MY APPT. EXPIRES JULY 31, 1909
BY ORDER OF THE BOARD OF
CITY COMMISSIONERS
By D.L. Harrison
City Clerk (It