F-4 Intent to Issue Hosp BondsRESOLUTION #
A RESOLUTION EXPRESSI~ THE I~I~NTION OF ET{E CITY OF SALINA, KANSAS,
TO ISSUE INDUSTRIAL REVE/~]E BONDS FOR ASBURY HOSPITAL ASSOCIATION IN AN
~40UNT NOT TO EXEED $1,500,000.
WHEREAS, the City of Salina, Kansas, (the "City") is authorized and
empowered under the provisions of the Kansas Industrial Revenue Bond Act,
K.S.A. 12-1740 to 12-1749, inclusive, as ~nended, to issue revenue bonds
for industrial developn~nt purposes; and,
~{ERF3~S, Asbury Hospital Associati.on, a Kansas corporation (the
"Hospital"), has requested the City to finance certain hospital facili-
'ties (the "Project") at a cost of approximately $1,500.000; and,
WHEREAS, the City desires to finance the cost of purchasing and con-
structing buildings, improven~nts and equipment for the Project by the
issuance of bonds under the Act in the amount of approximately $1,500,000,
said bonds to be payble soley out of rentals, revenues and receipts derived
from the lease of the Project' by the Hospital from the City; and,
WHEREAS, the City and the Hospital desire that such pturchase and con-
struction of buildings, improvements and equipment for the Project cor~nence
in~nediate ly;
NOW, THERF~DRE, BE IT RESOLVED by the Governing Body of the City of
Salina, Kansas, as follows:
Section 1. That the Governing Body of the City hereby finds and deter-
mines that the issurance of its bonds to finance the costs of the Project
will be in furtherance of the public purposes set forth in the Act, and
that the Project will promote the welfare of the City.
Section 2. That the Governing Body of the City hereby approves the
industrial project for the Hospital to be financed out of the proceeds of
approximately $1,500,000 principal amount of Industrial Revenue Bonds of
the City to be issued pursuant to the Act.
Section 3. That the City officials are hereby authorized and directed
to-procedd witJ] the necessary negotiations relating to said Proj~;ct and
the preparation of tJ~e legal docun~nts relating thereto .for .final action
by the GovernJ_ng Body of the City.
Sect]on 4. float this resolution shall take effect i~nod~atcly.
DAq~:D July 1, 1974.
A'F ['EST: ~]yo r