6.2 Issue T-NoteCITY OF SALINA
REQUEST FOR COMMISS ION ACT ION DATE TIME
7/8/1985 4:00 P.M.
AGENDA SECTION: CONSENT ORIGINATING DEPARTMENT: APPROVED FOR
AGENDA:
NO. 6 City Clerk
ITEM i[~
NO. 2 t
BY: D. L. Harrison BY: I .
Resolution Number 85-3792 - appropriating the sum of $1,017,000.00, being the
contract price for materials and labor supplied and furnished in the matter of
the construction of certain curbing, guttering, paving, grading, water and
sanitary sewer improvements in the City of Salina, Kansas, and further
providing for the issuance of one temporary note in the sum of $1,017,000.00
for the payment therefor.
This resolution authorizes the issuance of a temporary note for $1,017,000.00.
These funds will be used to pay the construction cost for Engineering Project
85-725 which was awarded to Wilson Constructors for $297,978, and Engineering
Project 85-736 which was awarded to Brown and Brown, Inc. for $719,253.
These improvements are in Mayfair, Meyer, Nord, River Place, Riverdale,
American Properties, Eastgate and Georgetown Additions.
Proposals were taken from the four Salina banks for the purchase of the
temporary note. The First Bank and Trust Company submitted the lowest
interest rate of seven percent (7%) for approximately 2 years.
These temporary notes will be incorporated into permanent financing when
special assessment bonds are issued for these projects.
RLN
COMMISSION ACTION
MOTION BY SECOND BY
TO:
STATE OF KANSAS
COUNTY OF SALINE
CITY OF SALINA
TEMPORARY NOTE
$~,0!7,000.00 SERIES PT-95 Number One (!)
KNOW ALL MEN BY THESE PRESENTS that the City of Salina, in the County of Saline, State of Kansas, acknowledges itself
to be indebted and for value received promises to pay First Bank and Trust Company the sum of One Million Seventeen
Thousand Dollars and no cents in lawful money of the United States of America on the ~st day of July, 1987; payable -
with interest thereon at the rate of seven percent (7%) per annum at maturity thereof, both principal of and interest
on this note being payable at the Office of the City Treasurer of the City of Salina, Kansas; and the City of Salina,
Kansas, is held and firmly bound by these presents and its full faith and credit are hereby irrevocably pledged for the
prompt payment of said principal and interest at maturity. The said City may call this note for payment at any time
before maturity by serving written notice to that effect upon the holder of this note or by publication once in a
newspaper of general circulation in said City at least seven days before the date of such call, and may redeem this
note on the date of such call for the amount of the principal and interest accrued to that date and interest shall
cease on that date.
This note is for the principal sum of One Million Seventeen Thousand Dollars and no cents issued by the City of Salina,
Kansas, for the purpose of paying the cost of construction of certain curbing, guttering, paving, grading, and utility
improvements in certain areas in said City, and is issued by authority of and in full compliance and conformity with
the provisions, restrictions and limitations of the resolutions and ordinances of said City and of the Constitution and
laws of the State of Kansas, and particularly K.S.A. Sections !2-6a0~ to ~2-6a18 and Section !0-~23, and all other
provisions of the laws of said State applicable thereto, all pending the issuance of bonds of said City to pay the cost
of said work and this note and interest thereon to be paid by the City of Salina, Kansas.
And it is hereby declared and certified that all acts, conditions and things required to be done and to exist precedent
to and in the issuance of this note have been properly done and performed and do exist in due and regular form and
manner as required by the Constitution and laws of the State of Kansas, and that the total indebtedness of said City,
including this series of notes, does not exceed Constitutional or Statutory limitations.
IN WITNESS WHEREOF, the City of Salina, Kansas, has executed this note by causing it to be signed by its Mayor and its
corporate seal to be affixed hereto on the day of July, !985.
[SEAL]
ATTEST:
Merle A. Hodges, Mayor
D. L. Harrison, City Clerk
This temporary note shall not be
Treasurer of the State of Kansas.
[SEAL]
STATE OF KANSAS )
) SS
COUNTY OF SALINE )
negotiable unless and until countersigned below following registration by the
D. L. Harrison, City Clerk
l, D. L. Harrison, City Clerk of the City of Salina, Kansas, hereby certify that this Temporary Note Series PT-9$, has
been registered in my office.
WITNESS my hand and official seal this day of July, !985.
D. L. Harrison, City Clerk
STATE OF KANSAS )
) SS
COUNTY OF SALINE )
I, Joan Finney, Treasurer of the State of Kansas, do hereby certify that the within Temporary Note, Series PT-95 of the
City of Salina, Kansas, has been filed in my office and that this note was registered in my office according to law on
WITNESS my hand and official seal.
State Treasurer of Kansas
By