8.4 Set IRB PHCITY OF SALINA
REQUEST FOR COMMI SS I ON ACT ION OATE, T t ME
3/9/1981 4:00 P.M.
AGENDA SECTION: Administration ORIGINATING DEPARTMENT: ~..~.~,~AP~xRC~VE~m~R
NO. 8 ... City Clerk
NO. 4 D.L. Harrison
BY: ·
An application for $444,000 Industrial Revenue Bonds has been filed by
Gary L. Harbin, M.D., P.A.
Information has been provided based on the Commission's established policy.
The required $500 fee has been paid. It has been the City's policy in the past
to put the applications on the agenda and then to convene into Executive Session.
It is our recommendation the applicant be required to pay all taxes, allowing
no exceptions.
COMMISSION ACTION
MOTION BY SECOND BY
TO:
CITY OF SALINA, KANSAS
APPLICATION FOR ISSUANCE OF INDUSTRIAL REVENUE BONDS
General Information
1. Applicant Name and Address:
Gary L. Harbin 519 S. Santa Fe Salina~ Ks.
2. Name, address and telephone number of. person to contact in regards
=o proposed bonds:
Gary L. Harbin 827-4424
3. Name and address of attorney for applicant:
Kenneth W. Wasserman 215 S. Santa Fe
Salina, Kansas
4. Nature of applicant' s business:
Physician
5. Name and address of underwriter for issue:
First National Bank & Trust Company, 101 N. Santa Fe Salina, Ks.
II.
6. Estimated amount of issue
7. Number of years for maturity of bonds
Use of Bond Proceeds
1. Amount requested for purchase
of land
2. Amount requested for land im-
provements (buildings)
3. Amount requested for machinery
and equipment
4. Will the issue refinance an
existing project?
5. Is t-he proposed project an
expansion or replacement of
another existing facility?
444,000
None
444,000
- 0 -
No
YES
III.
Proposed Facilities:
I. Location of proposed
facility
2. i~hat business is proposed by
~he applicant?
519 S. Santa Fe Salina, Ks.
Medical Office Building
List the products or services
to be rendered:
Medical Services, Physical
Therapy, Pharmacy, Laboratory Service
Will the applicant be in
competition with any local
firms?
If so, name t_he firms:
NO - because applicant is
already in practice at the
present time
N/A
5. What percentage of the facility
will be occupied by the applicant?
IV. Ownershi~ and Management
Describe the organizational
structure of the firm (proprie-
tership, partnership, subsidiary,
corporation, etc.):
10%
Proprietorship
List the names of principal
partners, owners and/or officers
of the applicant firm:
V. Financial Responsibility
i. How many years has the applicant
been in business?
2. Amount of equity capital to
be furnished by applicant
3. What is the applicant firm3$
Dun & Bradstreet rating?
1 3/4 years
75r000.00
not rated
List assets applicant will
pledge to secure the revenue
bonds
Real Estate and Building
List any person or firm who
will act as guarantors for bonds
Mar, ketin~ of Bonds
i. Will bonds be sold as a
public offering?
No
Have arrangements for the
marketing of the bonds been
made?
Ye s
vii.
3. Has the tenant investigated
conventional financing?
Measure of Economic Growth and Benefit
business
What percentage of ~L~K will
be sold locally?
Yes
Homestead Savings
Planters Bank
Security Savings
100%
Wha~ is the estimated amount
of merchandise and services
purchased locally per year?
80%
3. How m~ny people will the
proj .ct employ?
4. How many new jobs will be
created?
More than 15
viii. In ord.= to facilitate the timely processing of the application,
please attach, as par~ of the proposal the following items:
-~ ~- applicant's' ' ~
1. Copy of X~ audited financial statements for the past two
years.
2. Interim financial statements, to date, for the current fiscal
year.
Applicant A~rees To
1. Pay any payment in lieu of taxes required by the City.
2. Provide all financial data required by the City..
D~te