8.6 IRB ApplicationCITY OF SALINA
REQUEST FOR COMMISSION ACTION DATE TIME
19/7/19I~; ~:uu
AGENDA SECTION: Administration ORIGINATING DEPARTMENT: APPROVED FOR
AGENDA:
NO. 8 City Clerk
NO. 6 BY: D. L. Harrison BY:
An application for $1,250,000 Economic Development Revenue Bonds has been
filed by School Specialty Supply, Inc., P. O. Box 1327, Salina, KS.
Information has been provided, based on the Commission's established policy.
The applicant has requested an Executive Session.
Suggested date for public hearing would be October 28, 1985. The federal law
requires a la, day waiting period between publication and public hearing.
COMMISSION ACTION
MOTION BY SECOND BY
TO:
CITY OF SALINA, KANSAS
APPLICATION FOR ISSUANCE OF
ECONOMIC DEVELOPMENT REVENUE BONDS
GENERAL INFORMATION
1. Applicant Name and Address:
School Specialty Supply, Inc., P.O. Box 1327, Salina, KS
67402-1327
Name, address and telephone number of person to contact in regards
to proposed bonds:
A. John Hauptli¢ P.O. Box 1327¢ Salina~ KS 67402-1327
(913) 827-0451
Name and address of attorney mr applicant:
Winton M. Hinkle, Esq. Kenneth W. Wasserman, Esq.
450 Century Plaza Building 215 S. Santa Fe
Wichita, KS 67202 Salina, KS 67401
Nature of applicant's business:
Distribution of school and office supplies
Name and address of underwriter for the bond issue:
N/A
II.
6. Estimated amount of issue
7. Number of years for maturity of bonds
USE OF BOND PROCEEDS
1.
2.
e
Amount requested for purchase of land $
Amount requested for land improvements
(buildings) ~ $
Amount requested for machinery & equipments
Will the issue refinance an existing project?
Is the proposed project an expansion or
replacement of another existing facility?
1.250,000
15 years
None
750,000
500,000
No
Expansion
!!I. PROPOSED FACILITY
1. Location of proposed facility
3525 S. 9th, Salina, KS
2. What business is proposed by the applicant? Distribution of school
and office supplies
3. List the products or services to be rendered Distribution of
school and office supplies
e
Will the applicant be in competition with
any local firms?
Yes
If so, name the firms: Consolidated Printing and Stationery Co.,
Midwest Business Machines. Inc.. Salina Office Supply
Se
What percentage of the facility will be
occupied by the applicant?
IV. OWNERSHIP A~.ID MANAGEMENT
100%
Describe the organizational! structure of the
firm (proprietership, partnership, subsidiary,
corporation, etc): Corporation
List the names of principal partners, owners
and/or officers of the applicant firm:
A. John Hauptli, President
Robert W. Gilger. Vice President
Ray E. Heald~ Secretary-Treasur~
FINANCIAL RESPONSIBILITY
1. How many years has the applicant been in business? 54
o
Amount of equity capital to be furnished
by the applicant
$179,000
e
%¥hat is the applicant firm's
Dunn & Bradstreet rating?
3Al
List assets the applicant will pledge to
secure the revenue bonds New facility and equipment
5. List any person or firm who will act as guarantors for the bonds
None
VI. MARKETING OF BONDS
1. Will the bonds be sold as a public offering? No
2. Have arrangements been made for the
marketing of the bonds? Yes
3. Has the tenant investigated conventional
financing? Yes
VII. MEASURE OF ECONOMIC GROWTH AND BENEFIT
1. What percentage of sales will be sold locally? 33%
2. What is the estimated amount of merchandise
and services purchased locally per year? $500,000
3. How many people will the project employ? 120
4. How many new jobs will be created? 3
VIII.In order to facilitate the timely processing of the application, please
attach, as part of the proposal, the following items:
1. A copy of the firm's audited financial statements for the past two
years, if requested.
2. Interim financial statements, to date, for the current fiscal year,
if requested.
IX. APPLICANT AGREES TO
1. Pay any payment in lieu of taxes required by the City.
2. Provide ali financial data required by the City.
c:~me~mh~r 24 1985 ~
Date : Signatur~F
Ray E. Heald
S~cretary-Treasurer
Title
(Revised January 1984)