8.3 Issue T-Note City Of Salina
Request for Commission Action Date Time
1/8/01 4:00 PM
AGENDA SECTION: ORIGINATING DEPARTMENT: APPROVED
NO. 8 FOR AGENDA:
FINANCE
ITEM NO,
3
BY: Rodney Franz BY: Z~'"~(~
ITEM: Resolution Number 01-5683 authorizing and directing the issuance, sale, and delivery
of $925,000 principal amount of General Obligation Municipal Temporary Notes, Series 2001-1,
of the City of Salina, Kansas for the purpose of providing funds to pay the cost of certain sewer
and subdivision improvements in the and prescribing the form and details of said notes.
BACKGROUND: The notes provide interim financing for projects previously approved by the
City Commission, specifically:
Holiday Addition (St. Johns Baptist Church)
2000 Subdivision Improvements, Phase IV, Airport Industrial Center
2000 Subdivision Improvements, Phase IV, Eastview Estates Addition, Phase III
The total temporary notes to be sold are $ 925,000. The due date on these notes is set for
August 1, 2001. If the projects are not completed in time to roll to permanent financing at that
time, the notes can be renewed for an additional yer
Resolution 01-5683 describes the details and structure of the notes.
Bids will be opened on January 8 and presented to the City Commission at the meeting.
REQUESTED ACTION:
Approve Resolution Number 01-5683