Cancelled Bonds . 11 7 ' T
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REGISTERED REGISTERED #2
NUMBERI2-1 $205,000.00 •
Unless this certificate is presented by an authorized representative of The
Depository Trust Company, a New York Corporation ("DTC"), to the Issuer or its
agent for registration of transfer, exchange or payment, and any certificate issued is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC (and any payment is made to Cede & Co. or to
. such other entity as is requested by an authorized representative of DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the
registered owner hereof, Cede & Co., has an interest herein.
UNITED STATES OF AMERICA
•••• • STATE OF KANSAS _ -
• • •••• COUNTY OF SALINE
• • •••••• tCITY0FSALINA_ 3
•.:••t GENERAL OBLIGATION INTERNAL IMPROVEMENT BOND
• • ' I SERIES 2013-B•
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Intel-Mr'• Maturity Dated CUSIP:
Rate'3bbyo Date: October 1, 2014 Date: July 15, 2013 794743 4C5
REGISTERED OWNER: CEDE & CO.
PRINCIPAL AMOUNT: TWO HUNDRED FIVE THOUSAND DOLLARS
KNOW ALL PERSONS BY THESE PRESENTS: That the City of Salina, in the County of
Saline, State of Kansas (the `Issuer"), for value received. hereby acknowledges itself to be indebted and
promises.to pay to the Registered Owner shown above, or registered assigns, but solely from the source •
and in the manner herein specified, the Principal Amount shown above on the Maturity Date shown
above, unless called for redemption prior to said Maturity Date, and to pay interest thereon at the Interest
Rafe per annum shown above (computed on"the basis of a 360-day year of twelve 30-day months), from
the Dated Date shown above, or from the most recent date to which interest has been paid or duly
provided for, payable semiannually on April 1 and October 1 of each year, commencing April 1, 2014 (the
"Interest Payment Dates"). until the Principal Amount has been paid.
Method and Place of Payment. The principal or redemption price of this Bond shall be paid at
maturity or upon earlier redemption to the person in whose name this Bond is registered at the maturity or
redemption date thereof, upon presentation and surrender of this Bond at the principal office of the
Treasurer of the State of Kansas, Topeka, Kansas (the "Paying Agent" and 'Bond Registrar'). The
interest payable on this Bond on any Interest Payment Date shall be paid to the person in whose name this
Bond is registered on the registration books maintained by the Bond Registrar at the close of business on
the Record Date(s) for such interest. which shall be the 15th day (whether or not a business day) of the
calendar month next preceding the Interest Payment Date. Such interest shall be payable (a) by check or
draft mailed by the Paying Agent to the address of such Registered Owner shown on the Bond Register or
at such other address as is furnished to the Paying Agent in writing by such Registered Owner; or(b) in
BOND IMPORTANT BOND
9158131071 BOOK ENTRY SECURITY
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the case o&n interest payment to Cede & Co. or any Owner of$500,000 or more in aggregate principal
amount ofg3onds by electronic transfer to such Owner upon written notice given to the Bond-Registrar by
such Registered Owner, not less than 15 days prior to the Record Date for such interest, containing the
electronic transfer instructions including the bank, ABA routing number and account number to which
such Registered Owner wishes to have such transfer directed. The principal or redemption price of and
interest on the Bonds shall be payable in any coin or currency that, on the respective dates of payment
thereof, is legal tender for the payment of public and private debts. Interest not punctually paid will be
paid in the manner established in the Within defined Bond Resolution. -
Definitions. Capitalized terms used herein and not otherwise defined herein shall have the
meanings assigned to such terms in the hereinafter defined Bond Resolution.
Authorization of Bonds. This Bond is one of an authorized series of Bonds of the Issuer
designated "General Obligation Internal Improvement Bonds, Series 2013-B." aggregating the principal
amount;d?S4,330,000 (the "Bonds") issued for the purposes set forth in the Ordinance of the Issuer
authorizing the issuance of the Bonds and the Resolution of the Issuer prescribing the form and details of
the Bpmis;(collecjv Jy, the "Bond Resolution"). The Bonds are issued by the authority of and in full
.•• compliance with:the pIovisions, restrictions and limitations of the Constitution and laws of the State of
Kansas. irwludine r.S.A. 12-6a01 et seq., K.S.A. 12-685 ei seq. and K.S.A. 12-1736 et seq., as amended,
and aN other prof jsjm of the laws of the State of Kansas applicable thereto.
• • ••e.
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•• •lieneral•Oblig
• ations. The Bonds constitute general obligations of the Issuer payable as to both
princ and imgte%t•in part from special assessments levied upon the property.benefited by the
constsu•tidn of certain Improvements (as said term is described in the Bond Resolution) and, if not so
paid. 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 balance being
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 full faith, credit
and resources of the Issuer are hereby pledged for the 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.
Redemption Prior to Maturity. The Bonds are subject to redemption prior to maturity, as
follows:
Optional Redemption. At the option of the Issuer, Bonds maturing on October 1 in the years
2022, and thereafter, will be subject to redemption and payment prior to maturity on October 1, 2021, and
thereafter, as a whole or in part (selection of maturities and the amount of Bonds of each maturity to be
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
date of redemption.
Mandatory Redemption. Each of the Bonds maturing on October 1. 2033, shall also be subject to
mandatory redemption and payment prior to maturity pursuant to the redemption schedule set forth in the
Bond Resolution at the Redemption Price of 100% (expressed as a percentage of the principal amount),
plus accrued interest thereon to the Redemption Date.
Redemption Denominations. Whenever the Bond Registrar is to select Bonds for the purpose of
redemption, 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 denomination of a minimum Authorized Denomination.
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Nice of Redemption. Notice of redemption, unless waived, shall be given by the Issuer to the
State Trearer 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
address maintained on the Bond Register, such notice to be given by mailing an official notice of
redemption by first class mail at least 30 days prior to the redemption date. Notice of redemption having
been given as aforesaid, the Bonds or portions of Bonds to be redeemed shall, on the redemption date,
become due and payable at the redemption price therein specified, and from and after such date (unless
- the Issuer defaults in the payment_of the redemption price), such Bonds or portions of Bonds shall cease
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 Resolution. One
Bond certificate with respect to each date on which the Bonds are stated to mature or with respect to each
form ofpands, registered in the nominee name of the Securities Depository, is being issued and required
to brdeposited with the Securities Depository and immobilized in its custody The book-entry system
will•eyidc-ice pojit.ions held in the Bonds by the Securities Depository's participants, beneficial
••••• ownership of the Bonc in authorized denominations being evidenced in the records of such participants.
Transfers of own&shlp shall be effected on the records of the Securities Depository and its participants
•pursuant to rule undprocedures established by the Securities Depository and its participants. The Issuer
• • and Vie eqnd Retgistrar will recognize the Securities Depository nominee, while the Registered Owner of
.. this 138118. as tie owner of this Bond for all purposes, including (i) payments of principal of, and
• • redemption prent.iin..if any, and interest on, this Bond, (ii) notices and (iii) voting. Transfer of principal,
intertst aptl any redemption premium payments to participants of the Securities Depository, and transfer
of principal, interest and any redemption premium payments to beneficial owners of the Bonds by
participans of the Securities Depository will be the responsibility of such participants and other nominees
of such beneficial owners. The Issuer and the Bond Registrar will not be responsible or liable for such
transfers of payments or for maintaining, supervising or reviewing the records maintained by the
Securities Depository, the Securities Depository nominee, its participants or persons acting through such
participants. While the Securities Depository nominee is the owner of this Bond, notwithstanding the
provision hereinabove 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 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
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.
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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
Authentication and Registration hereon shall have been lawfully executed by the Bond Registrar.
IT IS HEREBY DECLARED AND CERTIFIED that all acts, conditions, and things required
to be done 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
the State of Kansas, and that the total indebtedness of the Issuer, including this series of bonds, does not
. exceed 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 Clerk, and its seal
to be aftg;d hereto or imprinted hereon.
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• CITY OF SALINA,KANSAS•
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By: Afti
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ATTr3T•• • •
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By . .
Clerk
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CERTIFICATE OF AUTHENTICATION AND REGISTRATION
This Bond is one of a series of General Obligation Internal Improvement Bonds, Series 2013-B,
of the City of Salina,Kansas, described in the within-mentioned Bond Resolution.
Registration Date_ JUL 2 5 2013
Office of the State Treasurer,
Topeka, Kansas,
as Bond Registrar and Paying Agent
•••• By , `Qe-ni
Regiitralion Number 0322-085-071513-850
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• CERTIFICATE OF CLERK
• • STATE•ef KANSAS•• )
•• .... • •• ) SS.
• • COUNTY OF SALT ) •
••••
Thr undersigned, Clerk of the City of Salina, Kansas, does hereby certify that the within Bond
has be'e'n duly registered in my office according to law as of July 15, 2013.
WITNESS my hand and official seal.
yattacit) ."
•0 By'
U 4870 Clerk
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 5 2013 .
WITNESS my hand and official seal.
(Seal) cVREHg By: teen Eat Treasurer of the State of Kansas
sum r'' ,c*
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BOND ASSIGNMENT
FOR VALUE RECEIVED, the undersigned do(es)hereby sell,assign and transfer to
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• (Name and Address)
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(Social Security or Taxpayer Identification No.)
the Botec to which this assignment is affixed in the outstanding principal amount of S
standMd in the name of the undersigned on the books of the Bond Registrar. The undersigned do(es)
herebt'•isravocably.constitute and appoint as agent to transfer said Bond on the
•••• books cif said Bcrid Ristrar with full power of substitution in the premises.
D ••••
ate
• • •••• Name
....
.. ..
• • •
• • Social Security or
••••
Taxpayer Identification No.
. .
Signature (Sign here exactly as name(s)
appear on the face of Certificate)
Signature guarantee:
By
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LEGAL OPINION
The following is a true and correct copy of the approving legal opinion of Gilmore & Bell, P.C.,
Bond Counsel, which was dated and issued as of the date of original issuance and delivery,of such Bonds:
GILMORE & BELL, P.C.
Attorneys at Law
2405 Grand Boulevard
Suite 1100
Kansas City, Missouri 64108
• 4, ••••
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GQ'emi{g Body
Cit}•of Salina. ieraas
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Robert W. Bail! S'Co.
Winaaa-Salem,4lort}t Carolina
•••••$e: $4,330,000 General Obligation Internal Improvement Bonds, Series 2013-B, of
the City of Salina. Kansas. Dated July 15, 2013
We have acted as Bond Counsel in connection with the issuance by the City of Salina, Kansas
(the `Issuer"), of the above-captioned bonds (the `Bonds"). In this capacity, we have examined the law
and the certified proceedings, certifications and other documents that we deem necessary to render this
opinion. Capitalized terms not othenvise defined herein shall have the meanings ascribed thereto in the
resolution adopted 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
and other certifications of public officials and others furnished to us without undertaking to verify them
by independent 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.
2. The Bonds are payable as to both principal and interest in part from special assessments
levied upon the property benefited by the construction of certain improvements and, if not so paid, 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 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 the Bonds to the extent that necessary funds are not provided from other sources.
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3w° The interest on the Bonds is:• (a) excludable from gross income for federal income tax
purposes:-and (b) not an item of tax preference for purposes of the federal alternative minimum tax
imposed on individuals and corporations, but is taken into account in determining adjusted current
earnings for the purpose of computing the alternative minimum tax imposed on certain corporations. The-
opinions set forth in this paragraph are subject to the condition that the Issuer complies with all
requirements of the Internal Revenue Code of 1986, as amended (the "Code") that must be satisfied
subsequent to the issuance of the Bonds in order that interest thereon be, or continue to be, excludable
from gross income for federal income tax purposes. The Issuer has covenanted to comply with all of
these requirements. Failure to comply with certain of these requirements may cause interest on the Bonds
to be included in gross income for federal income tax purposes retroactive to the date of issuance of the
Bonds. The Bonds are "qualified tax-exempt obligations" within the meaning of Code Section 265(6)(3).
We express no opinion regarding other federal tax consequences,arising with respect to the Bonds.
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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
Statcyt;or other offering material relating to the Bonds (except to the extent, if any, stated in the
.... Official StatemwtJ.•turther, we express no opinion regarding tax consequences arising with respect to
the Bonds other[l,aa es expressly set forth in this opinion.
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• • ...The rightr Or the owners of the Bonds and the enforceability thereof may be limited by
•• banktarptev, insolvepr. reorganization, moratorium and other similar laws affecting creditors' rights
• • • generally and by:e4luityble principles, whether considered at law or in equity.
• `l is opinion is given as of its date, and we assume no obligation to revise or supplement this
opitIIpfl•RCreflect any facts or circumstances that may come to our attention or any changes in law that
may occur after the date of this opinion.
GILDIORE & BELL,P.C.
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