8.4 Issue GO Airport Bonds CITY OF SALINA
REQUEST FOR COMMISSION ACTION DATE TIME
6/24/91 q:O0 P.M.
i AGENDA SECTION: Administration ORIGI NATI NG DEPARTMENT: APPROVED FOR
NO.~ 8 ' City Manager AGENDA:
ITEM
NO. 4 Dennis Kissinger ,~_~~
BY: BY:
Ordinance No. 91- 9452
AN ORDINANCE UNCONDITIONALLY APPROVING THE ISSUANCE OF GENERAL
OBLIGATION BONDS BY THE SALINA AIRPORT AUTHORITY IN AN AMOUNT NOT TO
EXCEED $950,000 FOR THE PURPOSE OF FINANCING THE CONSTRUCTION OF
FACILITIES TO BE USED FOR AERONAUTICAL TECHNOLOGY EDUCATION.
Background
The SaUna Airport Authority recently approved a Resolution (copy attached) finding it
necessary and desirable to issue bonds for an aeronautical technology education
building. The building will be leased to K-State Salina. State statute allows the
issuance of these bonds by the Airport Authority, subject to approval by the City
Commission. The S.A.A. is requesting your unconditional approval.
Options
State law gives the City Commission choices:
1. You may unconditionally approve the ordinance, thus allowing the Airport
Authority to proceed.
2. You may disapprove the ordinance, after which no further action may be taken
by the Authority.
3. In lieu of unconditionally approving or disapproving the ordinance, you may
pass a conditional resolution giving notice of your approval, but directing the
publication of a notice of the Authority's intent to issue the bonds. The
matter would then be subject to a protest petition requesting a public vote at a
special election.
Recommendation
Staff recommends unconditional approval of this bond issuance as requested by the
Airport Authority. The ordinance before you provides for unconditional approval.
COMMISSION ACTION
MOTION BY SECOND BY
TO:
RESOLUTION
A RESOLUTION PROVIDING FOR CERTAIN IMPROVEMENTS TO THE PROPERTIES
AND FACILITIES OF THE SALINA AIRPORT AUTHORITY AND THE ISSUANCE OF
$950,000 GENERAL OBLIGATION BONDS OF THE AUTHORITY TO PAY THE COST
THEREOF.
WHEREAS, the Salina Airport Authority desires to make certain
improvements to the properties and facilities of the Authority; and
WHEREAS, the Authority is authorized by the provisions of
K.S.A. 27-315 to 27-326, inclusive, to make such improvements and
to issue general obligation bonds of the Authority to pay the cost
thereof;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
SALINA AIRPORT AUTHORITY, SALINA, KANSAS, AS FOLLOWS:
1. The Board of Directors of the Salina Airport Authority,
Salina, Kansas, hereby finds that it is necessary and desirable for
the Authority to make certain improvements to the properties and
facilities of the Authority, including the construction of
facilities to be used for aeronautical technology education, and to
issue general obligation bonds of the Authority in an amount not
exceeding $950,000 to pay the cost of such improvements, as
authorized by K.S.A. 27-315 to 27-326, inclusive.
2. This Resolution shall be presented to the governing body
of the City of Salina, Kansas' for approval or disapproval.
3. When the governing body of the City, by ordinance, has
approved this Resolution, the Board of Directors of the Authority
will proceed to authorize and issue the Bonds for the purposes
stated above.
4. This Resolution shall be in full force and effect from
and after its passage and approval.
PASSED by the Board of Directors of the Salina Airport
Authority, Salina, Kansas, this 12th day of June, 1991.
Secretary
Board of Directors
Salina Airport Authority
Salina, Kansas