Cancelled Bonds . Y
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GISTERFI� ? ~^F
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•,inlets thus ,certificate is presented by an outhortted representative .of The -e '
I)i:ocitoryarust Company, a Ness York Corpo:.a ion ("DK ), to the'•issuer or it:: y ti• ,
t eit, to�r'gisti"ation of transfer, exchange or paym°t;and an• certificate issues"is ,
i gistered in the name of Cede & Co. or in such other name`as wieequested by ail
" �rdtthonzi, representative of DTC (and any. payment is made to.
o-Ceue Co. or tr
- Nsnchroth e d ty as is requested by an authorized representatnte'of D 1 ",L At
TRfalt•^,F R lc LEDGE OR OTHER USE HEREOF' FOR VA111.11..�0 ,.
01 Nrf,l WIS RY OR TO ANY PERSON IS WRONGFUL inasmuch1$- 1`P\r,„ t .,
-, .''rr
yz• is.ew mire,\" of, Cede & Co., has an interest herein. F'S ,.inziry
UNITED'STATES OF AMERICA ' r =;14, 4:C~ i y�!�t
++ oZ F4;,. STATE OF KANSAS y'i , '� -, // ,e
?0 , n''...:••I _ COUN1'Y OF SALINE +!x � ,� ?
CITY OF SALINA, KANSAS 1 f t
I Wt :• •: GEN':RAL OBLIGATION REFUNDING BOND '.!'...,. . .t, f - •' ,r
O •� }� . !yy SERIES 2012-B i i� 'T` t `r'� -,•., ` ),. ....,., • ._.,..„
'Z" . is ,• r• r inturin Dated ( , If•R It i1 . • •• )the: October I, 2014 Date: July 1S,2012 7`?/.7.1:W
TT t 0)(9 r7 ,
0,,1>C ' l•1 t',4 t t:U OWNER: CEDE & CO. k' • ets` `
7) h. PRII`!' ` ` .. \MOI,VT: NINE: 11UNDRED FORTY THOUSAND DOLLARS i',lj' ^, 4:':`".1
•'V I PERSONS BY THESE PRESENTS: That the City of Salina in the s1 4of p' •: K
Saline, Tr. : h"nsas (the "Issuer"). For value received. hereby acknowledges itself to l ma"`i e* ,d ft ` ` ';
s ` : ro:»i•:e' r " to the RttgisIeted Owder shown above, or registered assigns; brit olels .t i t▪ rl 0, a
:•.'1(.1 'in i. ,.a, .r er herein: specified. die Principal Amount shown above on inet 31a'ur, i• ` Ss e1 n , " - .e
; '� above. :•a.• ailed for redemption prior to said Maturity Date, and to pay inters: then:o,i , 0cii r-� -
Z I# Rite per " • ..a shown above (computed on the basis of a 360-day year of twelve iU easy moi, ). fr.a:
'p . 1.11.:'•Dat-,i te shown above, or from the most recent date to which interest has re_r ,id ./ dul• •
pr "vide.' ..i, payable semiannually on April I and October 1 of each year, cnmmencin ..1:r: I 01 i "
`s., (th. 'intr ay Went Dates"), until the Principal Amount has been paid. . . :
:.. }
,i � ' "I .:tl;and Place of Paymene..• The principal or redemption price of this 3oni 'r rl lilt e••i'. a:
.' —
nlat ra; :• •,:nt earlier redemption to the person in whose name this Bond is registere:f a:.Le.m'r. : rr:y
` ,� , +'•t;'edeair•ti-.11 e thereof; upon'•presentation and surrender of this `ond. at the principal olip:.' .c"' 'Ia.
' ' " 1•:,':'i ease-e-t;• . State of Kansas, Topeka, Kansas (the "Paying Agent" and "Bond Ret•!s1ri."i 1;"r '
r'e 4i n le on this Bond on any Interest Payment Date shall be paid to the person in w h. :c,m ;.' . i
-Ild r ".creel on the registration books maintained by the Bond Registrar at the close of buse•e o,l
-' h
i . te(s) for such interest, which shall be the 15th day (whether or not a business day) )::',1'61:i 071:4:11.:
n�y[ b next preceding tI - Interest Payment Date. Such interest shall be pa able (a) b c i r`
• •} tynre'. .,' the Paying Agent to the addicss of such Registered Owner shown on the Be id e isle r
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s is fu ;,hed to the PayinkAgent in writing by such Registered Owner; or (b) in t.
Sd . - the case. rttter•2st a` ment to Cede & Co. or anv i
,y. dam' P Owner of$500,000 or tho're in aggregate principal
t iou•.-oPi?nn.s by eleetronic,transterto•such Owne ek n., �
in .Hbtte en elgi■n to the Bond Registrar by'
-s.; sukh Registered Owner, not less than 15 days prior to the Recor&Date for such interest, containing the
•At � _electronic transfer instructions including the bank, ABA routing nu ser and account number to which ••
+_ . , such Registered Owner wishes to have such transfer directed. The principal`r redemption price of and
L` interest on the Bonds shall be payable in any coin or currency that, on the tive dates of payment.
t, thereof, is IIgal tender for the payment of public and,private debts. Interest not punuually paid will be
_ •` y paid in the manner established in the within defined Bond Resolution.
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•
ti.r \ Definitions. Capitalized terms used herein and not otherwise defined hereinshall hase.the
t meanings assigned to such terms in the hereinafter defined Bond Resolution. `•�-
ns . • �. r.
1 j Authorization of Bonds. This Bond is one of an authorized series of Bonds of the lssti2 • ' i I
f tf designated "General Obligation Refunding Bonds, Series 2012-B," aggregating the principal amount ott_ '
11,1 $3,785,000 (the "Bonds") issued for the purposes set forth in the Ordinance of the Issuer authorizing the . • •' •
issuance Vt•the Bonds and the Resolution of the Issuer prescribing the form and details of the Bonds
't (collectively, the `"Bond Resolution"). The Bonds are issued by the authority of and in full compliance E
Pr: • with tovivvision.s•,gstrictions and limitations of the Constitution and laws of the State of Kansas,
•••••including K.S.A. :0-42: et seq., as amended, and all other provisions of the Taws of the State of Kansas
'K.. • ..•.
'applicable!' ereto•
r
{ geral Fjbligations. The Bonds constitute general obligations of the Issuer payable as to both '
y./ princip'a1•':id interest•in part from special assessments levied upon the property benefited by the
ft
•
it
construction of cerpir tmprovements and, if not so paid, from ad valorem taxes which may be levied
withott(jijfation as to rate or amount upon all the taxable tangible property, real and personal, within the F
territorial limits of the, Issuer, the balance being payable from ad valorem taxes which may be levied
without rimitation as to rate or amount upon all the taxable tangible property, real and personal, within the p
• ,` territorial limits of the Issuer. The full faith, credit and resources of the Issuer are hereby pledged for the
4 payment of the principal of and interest on this Bond and the issue of which it is a part as the same
{' respectively become due. f
0
k. Redemption Prior to Maturity. The Bonds are subject to redemption prior to maturity, as r
follows:
Optional Redemption. At the option of the Issuer, Bonds maturing on October 1 in the years
i
-4 ,, 2020, and thereafter, will be subject to redemption and payment prior to maturity on October 1, 2019, and•
thereafter, as a whole or in part (selection of maturities and the amount of Bonds of each maturity to be
r l•; redeemed to be determined by the Issuer in such equitable manner as it may determine) at any time, at the
redemption price of 100% (expressed as a percentage of the principal amount), plus accrued interest to the i"
s ' ` date of redemption. r.
Redemption Denominations. Whenever the Bond Registrar is to select Bonds for the purpose of
redemp V1 tion, it shall, in the case of Bonds in denominations greater than a minimum Authorized
Denomination, if less than all of the Bonds then Outstanding are to be called for redemption, treat each
minimum Authorized Denomination of face value of each such Bond as though it were a separate Bond in
the doncmination of a minimum Authorized Denomination.
Notice of Redemption. Notice of redemption, unless waived, shall be given by the Issuer to the
State Treasurer of Kansas, the Purchaser of the Bonds and to the Bond Registrar in accordance with the
Bond Resolution. The Issuer shall cause the Bond Registrar to notify each Registered Owner at the
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—Fi' �.ddress m'd ea 0iI me Bondd Register, su lnotice to be given by mailing an official notice of
\rederpn4y first class mail at least 30 days pnoro_ the redemption date. Notice of redemption having
be,n given as aforesaid, the-Bonds or portions o't Bonds to be redeen ed'sliall, on the redemption date,
' �l ecome due and payable at the redemption price therein pecifie*and from and after such date (unless
, the Issuer defaults in the payment of the redemption price), such Bonda• r portions of Bonds shall cease •
I= },`' \to bear interest. •
Book-Entry System. The Bonds are being issued by means of a boo,-entrrwstem with no •
physical distribution of bond certificates to be made except as provided in the Bond Retion. One
Bond certificate with respect to each date on which the Bonds are stated to mature or with respect to `
form of Bonds, registered in the nominee name cif the Securities Depository, is being issued and required
to be deposited with the Securities Depository and immobilized in its custody. The book:entry system .
will evidence positions held in the Bonds by the Securities Depository's participants, beneficial
ownership of the Bonds in authorized denominations being evidenced in the records of such participants. .
Transfers of ownership shall be effected on the records of the Securities Depository and its participants
pursu*Qt to. rules and procedures established by the Securities Depository and its participants. The Issuer
andthdBond Registrar will recognize the Securities Depository nominee, while the Registered Owner of
this Bond. as. the owner of this Bond for all purposes, including (i) payments of principal of and
•,,, redemption prerptt ti'if any, and interest on, this Bond, (ii) notices and (iii) voting. Transfer of principal,
• • interest and an}'rederdption premium payments to participants of the Securities Depository; and transfer
of ?sine( al, interest and any redemption premium payments to beneficial owners of the Bonds by
• . partiSQP„ is of;eSttnrities Depository will be the responsibility of such participants and other nominees
of siiiac'nefici'al owners. The Issuer and the Bond Registrar will not be responsible or liable for such •
•••• transfers of pa;mviiit or for maintaining, supervising or reviewing the records maintained by the
Secptitits,Depositoryt, the Securities Depository nominee, its participants or persons acting through such
partie4ttfits. While the Securities Depository nominee is the owner of this Bond, notwithstanding the
provision,atereinabove contained, payments of principal of, redemption premium, if any, and interest on
this Bond shall be made in accordance with existing arrangements among the Issuer, the Bond Registrar
and the Securities Depository. .
Transfer and Exchange. EXCEPT AS OTHERWISE PROVIDED IN THE BOND
RESOLUTION, THIS GLOBAL BOND MAY BE TRANSFERRED, IN WHOLE BUT NOT EN
PART, ONLY TO ANOTHER NOMINEE OF THE SECURITIES DEPOSITORY OR TO A
SUCCESSOR SECURITIES DEPOSITORY OR TO A NOMINEE OF A SUCCESSOR
SECURITIES DEPOSITORY. This Bond may be transferred or exchanged, as provided in the Bond
Resolution, only on the Bond Register kept for that purpose at the principal office of the Bond Registrar,
upon surrender of this Bond, together with a written instrument of transfer or authorization for exchange
satisfactory to the Bond Registrar duly executed by the Registered Owner or the Registered Owner's duly
authorized agent, and thereupon a new Bond or Bonds in any Authorized Denomination of the same
. maturity and in the same aggregate principal amount shall be issued to the transferee in exchange therefor
as provided in the Bond Resolution and upon payment of the charges therein prescribed. The Issuer shall
. pay all costs•incurred in connection with the issuance, payment and initial registration of the Bonds and
- the cost of a reasonable supply of bond blanks. The Issuer and the Paying Agent may deem and treat the
person in whose name this Bond is registered on the Bond Register as the absolute owner hereof for the
, purpose of receiving payment of, or on account of, the principal or redemption price hereof and interest
due hereon and for all other purposes. The Bonds are issued in fully registered form in Authorized
Denominations.
Authentication. This Bond shall not be valid or become obligator'for an r
entitled to any security or benefit under the hereinafter defined Bond eS%C�. pu��se or be
Authentication and Registration hereon shall have been lawfully ex\utbt�e�n U//t�%j�
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- ' ==address rage o° it tile Bond Register; su h notice to be given by mailing an official notice of
Sredejpr'�"y first class mail at leY asst 30 days pnoyo the redemption date. Notice of redemption having •
>i-e- given as aforesaid, the-Bonds or portions-df Bonds`o be redebrred'shall, on the redemption date, :
become due and payable at the redemption price therein specifiedSand from and after such date (unless •
- the Issuer defaults in the payment of the redemption price); such Bonds. r portions of Bonds shall cease
t \to bear interest.
Book-Entry System. The Bonds are being issued by means of a book-entry system with no •
physical distribution of bond certificates to be made except as provided in the Bond elution. One
Bond certificate with respect to each date on which the Bonds are stated to mature or with respect to each i
form of Bonds, registered in the nominee name of the Securities Depository, is being issued and required
,, to be deposited with the Securities Depository and immobilized in its custody. The book-entry system .
will evidence positions held in the Bonds by the Securities Depository's participants, beneficial
ownership of the Bonds in authorized denominations being evidenced in the records of such participants.
Transfers of ownership shall be effected on the records of the Securities Depository and its participants
pursugptto rules and procedures established by the Securities Depository and its participants. The Issuer .
and.thd Bond Registrar will recognize the Securities Depository nominee, while the Registered Owner of
this Bond. as the owner of this Bond for all purposes, including (i) payments of principal of, and
redemption prerpntm'jf any, and interest on, this Bond, (ii) notices and (iii) voting. Transfer of principal,
• • interest and anyrre.der$ption premium payments to participants of the Securities Depository, and transfer
of psine4 al, interest and any redemption premium payments to beneficial owners of the Bonds by
• • particip;, is of tae SMtirities Depository will be the responsibility of such participants and other nominees
of s b.Wnefrcial owners. The Issuer and the Bond Registrar will not be responsible or liable for such -
transfers of pa'mc n[s or for maintaining, supervising or reviewing the records maintained by the
Sectiritits•Depository. the Securities Depository nominee, its participants or persons acting through such
partieiWits. While the Securities Depository nominee is the owner of this Bond, notwithstanding the
pro'oision bereinaboye contained, payments of principal of, redemption premium, if any, and interest on
this Bond shall be made in accordance with existing arrangements among the Issuer, the Bond Registrar
and the Securities Depository.
Transfer and Exchange. EXCEPT AS OTHERWISE PROVIDED IN THE BOND
RESOLUTION, THIS GLOBAL BOND MAY BE TRANSFERRED, FN WHOLE BUT NOT IN
PART, ONLY TO ANOTHER NOMINEE OF THE SECURITIES DEPOSITORY OR TO A
SUCCESSOR SECURITIES DEPOSITORY OR TO A NOMINEE OF A SUCCESSOR
SECURITIES DEPOSITORY. This Bond may be transferred or exchanged, as provided in the Bond
Resolution; only on the Bond Register kept for that purpose at the principal office of the Bond Registrar,
upon surrender of this Bond, together with a written instrument of transfer or authorization for exchange
satisfactory to the Bond Registrar duly executed by the Registered Owner or the Registered Owner's duly
authorized agent, and thereupon a new Bond or Bonds in any Authorized Denomination of the same
. maturity and in the same aggregate principal amount shall be issued to the transferee in exchange therefor
as provided in the Bond Resolution and upon payment of the charges therein prescribed. The Issuer shall N
. 'pay all costs incurred in connection with the issuance, payment and initial registration of the Bonds and
1 ythe cost of a reasonable supply of bond blanks. The Issuer and the Paying Agent may deem and treat the
person in whose name this Bond is registered on the Bond Register as the absolute owner hereof for the
purpose of receiving payment of, or on account of, the principal or redemption price hereof and interest
due hereon and for all other purposes. The Bonds are issued in fully registered form in Authorized
Denominations.
Authentication. This Bond shall not be valid or become obligatory for any purpose or be
entitled to any security or benefit under the hereinafter defined Bond Resolution until the Certificate of
i
Authentication and Registration hereon shall have been lawfully executed by the Bond Registrar.
3
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�,�°ca HEREBY DECLARED AND CERTIFIED that all accs,.co�ditions, and things required A�, c doi and to-exist precedent to and'in-the issuance of this Bond'have been properly done and . .
performed and do exist in due and regular form and manner as required by the Constitution and laws of
I" ;< the State of Kansas, and that the total indebtedness of the Issuer, including this series of bonds, does not• 'xceed any constitutional or statutory limitation.
IN WITNESS WHEREOF, the Issuer has caused this Bond to be executed by the manual or •
facsimile signature of its Mayor and attested by the manual or facsimile signature of its CIerkpand its seal •
to be affixed hereto or imprinted hereon. v-a,
CITY OF SALINA,KANSAS
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.,-,__--- ' By: LA,Mayor �i
•.....ATTEST: •....' .
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. / ! � � CERTIFICATE OF AUTHENTICATION.ANDARE ISTRATION
I:'. 1; 4
�} t'; This Bond is one of a series of General Obligation Refunding Bonds;.
�' g g eries 2012-B, of the City
of Salina, Kansas, described in the within-mentioned Bond Resolution.
Registration Date JUL 2 6 2012
Office of the State Treasurer,
f Topeka, Kansas,
I as Bond Registrar ea
and Paying Agent
I. ..•• By
'O 'v
•
. RegistaIipgNumber 0322-085-071512-426
. •
••••
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• • •. . CERTIFICATE OF CLERK f
• .
••••
• • STATE OF KANSAS : •7 ; )
•I - ) SS.
.•••
COUNTY OF SALINE )
The undersigned, Clerk of the City of Salina, Kansas, does hereby certify that the within Bond
iI has been duly registered in my office according to law as of July 15, 2012.
1 WITNESS my hand and official seal.
a
Clerk
ia—_: CERTIFICATE OF STATE TREASURER
OFFICE OF THE TREASURER, STATE OF KANSAS
RON ESTES, Treasurer of the State of Kansas, does hereby certify that a transcript of the
proceedings leading up to the issuance of this Bond has been filed in the office of the State Treasurer, and
that this Bond was registered in such office according to law on JUL 2 6 2012
-s WITNESS my hand and official seal. ,
. , . 'j
Seal ' 1
By:
Treasurer of the State of Kansas
1 \ • : \—__ _ _ _ _ ___ ___. .
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I "rj � SO ,- ,u�ANT nNi Qf� ,4es)hereby' sell, assign and transfer to
N G B ed d
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7-,, FOW Ta�PaYer Identification of �_�
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din° P{1DC'P The undersigned d
istrac.\ @d/ acfo ed al i th Bon no Res transfer said Bond on the
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•3 is a d aPPor°t tof substitution in the Premise
`:htch tc °`nth frn1 power
A to nam
gon the c, ■
ttt anatn9.0. ocabooay Name
eretci••ti sa\e'
bo°•s o:•• k • • social Secur n f cation K�
tea )..- 11 :. TasP yer
here exactltname(s)
onature(Sligo tac of Certit)
S'° the e
• 00 r appear on
• / gi¢nature guarantee:- \
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"�1� e,0,d correct copy of th legal opinion of Gilmore & Bell, P.C., •
v �.io6's aaateasnd issued as of the date of original issuance and delivery of such Bonds:
•
/ ��a Go�nsel: i`/%GIL SORE & BEILL,P.C.4 �
`. 2405 Grand Boulevard
, Suite 1100
}
f • Kansas City, Missouri 64108 ,
I .3•
'OA tiiil Obligation Refunding Bonds, Series 2012-B, of the City of `y
100alipa , Kansas, Dated July 15, 2012•
• Nf aced as Bond Counsel in connection with the issuance by the City of Salina, Kansas
.....••• ,j of;ite•ob. ove-captioned bonds (the "Bonds"). In this capacity, we have examined the law
.•,, iified proceedings, certifications and other documents that we deem necessary to render this
' ••iapitalized terms not otherwise defined herein shall have the meanings ascribed thereto in the
,hadopted by the governing body of the Issuer prescribing the details of the Bonds.
/Regarding questions of fact material to our opinion, we have relied on the certified proceedings e
other certifications of public officials and others furnished to us without undertaking to verify them
ndependent investigation.
Based upon the foregoing, we are of the opinion, under existing law, as follows:
1. The Bonds have been duly authorized, executed and delivered by the Issuer and are valid
and legally binding general obligations of the Issuer. .s-.,\
2. The Bonds are payable as to both principal and interest in part from special assessments 4.
levied upon the property benefited by the construction of certain improvements and, if not so paid, from 1
ad valorem taxes which may be levied without limitation as to rate or amount upon all the taxable tangible
property, real and personal, within the territorial limits of the Issuer. The balance of the principal and -
interest on the Bonds is payable from ad valorem taxes which may be levied without limitation as to rate
or amount upon all the taxable tangible property, real and personal, within the territorial limits of the
Issuer. The Issuer is required by law to include in its annual tax levy the principal and interest coming
• due on th?Bonds to the extent that necessary funds are not provided from other sources.
3. The interest on the Bonds is: (a) excluded ham gross income for federal income tax
purposes; ;tnd (b) not an item of tax preference for purposes of the federal alternative minimum tax
• imposed on individuals and corporations, Iz". is taken into account in determining adjusted current,
4, earnings for the purpose of computing the alternative minimum'MC imposed on certain corporations. The
opinio"s ser'forth In this paragraph are subject to, ttie cordtion�hat the Issuer comply with all
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I „;,-,-"Cr--__ emal Revenue Code of 1986, as amended (the "Code"), that must be satisfied ' •
� 4 '. • _ the issuance of the Bonds in order to preserve the ex '.`si%n.of the interest on the Bonds
::`9r`•-oss income for federal income tax purposes. The Issuer has codenanted to comply with all U.
' be requirements. Failure to comply with certain of these requirements may cause interest on the Bonds
e included in•gross income for federal income tax purposes retroactive to the date of issuance of the
•/` Bo ds. .The Bonds are "qualified tax-exempt obligations" within the meaning of Section 265(b)(3) of the
' Code, and. in the case of certain financial institutions (within the meaning of Section 265(b)(5) of the
Code), a deduction is allowed for 80 percent of that portion of such financial msti[ution's.interest expense
allocable t4 interest on the Bonds. We express no opinton-regarding,older,federal tax consequences
arising with respect to the Bonds. •
4. ( ' -
The interest on the Bonds is exempt from income taxation by the State of Kansas.
We express no opinion regarding the accuracy, completeness or sufficiency of the Official
Statement or other offering material relating to the Bonds (except to the extent, if any,•stated in the
Offcial'Staaement). Further, we express no opinion regarding tax consequences arising with respect to •, ',•the Bonds other than as expressly set forth in this opinion.
. . •••• • ,
•"" • •The rights of the_owners of the Bonds and the enforceability thereof may be limited by 'r'
bankrpptcy.: insolvency, reorganization, moratorium and other similar laws affecting creditors' rights •
•,;,,,generatly and by Cggilgble principles, whether considered at law or in equity.
.•.. •
•'• Irlis opirtior 'is•given as of its date, and we assume no obligation to revise or supplement this
•opinioq•tp•reflecrenyacts or circumstances that may come to our attention or any changes in law that i”
may oaatr Ifterthe date of this opinion. o
GILMORE & BELL, P.C.
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