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ADDITIONAI.PROVISIONS
AmAmhotheation of Notes. This Note is one of an authorized series of Notes of premium payments to participants of the Securities Depository,and transfer of
the Issuer designated"General Obligation Temporary Notes, Series 2016-I: principal,interest and any redemption premium payments to beneficial owners of
aggregating the principal amount of 56,690000(the"Notes') issued for the the Notes by participants of the Securities Depository will be the responsibility
purposes set forth in the Resolution of the Issuer authorizing the issuance of the of such participants and other nominees of such beneficial owners. the Issuer
Notes(the"Note Resolution"). The Notes are issued by the authority of and in and the Note Registrar will not be responsible or liable for such transfers of
full compliance with the provisions, restrictions and limitations of the payments or foe maintaining.supen'ising or reviewing the records maintained by
Constitution and laws of the State of Kansas, including K.S.A. 10-123 and the Securities Depository,the Securities Depository nominee,its participants or
K.S.A.12-1736 et seq.,as amended,and all other provisions of the laws of the persons acting through such participants. While the Securities Depository
State of Kansas applicable thereto. nominee is the owner of this Note,notwithstanding the provision hereinabove
General Obligations.The Notes constitute general obligations of the Issuer contained,payments of principal of,redemption premium,if any,and interest on
payable as to both principal and interest from the proceeds of general obligation this Note shall be made in accordance with existing arrangements among the
bonds of the Issuer and,if not so paid,from ad vahnen taxes which may be Issuer,the Note Registrar and the Securities Depository.
levied without limitation as to rate or amount upon all the taxable tangible Transfer and Exchange EXCEPT AS OTHERWISE PROVIDED IN
property,real and personal,within the territorial limits of the Issuer. The full THE NOTE RESOLUTION, THIS GLOBAI. NOTE MAY BE
faith,credit and resources of the Issuer are hereby pledged for the payment of the TRANSFERRED.IN WHOLE BUT NOT IN PARI',ONLY TO ANOTHER
principal of and interni on this Note and the issue of which it is a pan as the NOMINEE OF TIIE SECURITIES DEPOSITORY OR TOA SUCCESSOR
same respectively become due. SECURITIES DEPOSITORY OR TO A NOMINEE OF A SUCCESSOR
Redemption Prior to TI•turity. The Notes arc not subject to redemption SECURITIES DEPOSE TORSI This Note may be transferred or exchanged,as
prior to maturity. provided in the Note Resolution,only on the Note Register kept for that purpose
Book-Entry System. The Notes are being issued by means of a book-attn' at the principal office of the Note Registrar.upon surrender of this Note together
system with no physical distribution of note certificates to be made except as with a written instrument of transfer or authorization for exchange satisfactory to
provided in the Note Resolution. One Note certificate with respect to each date the Note Registrar duly executed by the Registered Owner or the Registered••
on which the Notes are stated to mature or with respect to each form of Notes. Owner's duly authorized agent,and thereupon a new Note or Notes in alIK •
registered in the notninee name of the Securities Depository,is being issued and Authorized Denomination of the same maturity and in the same aslgteelate •
required to he deposited with the Securities Depository and immobilized in its principal amount shall be issued to the transferee in exchange thglefor as
custody. The book-entry system will evidence positions held in the Notes by the provided in the Note Resolution and upon payment of the charge•►udt••
Securities Depository's panicipunts, beneficial ownership of the Notes in prescribed. The Issuer shall pay all coos inc rfW Ih¶wnneaion (lith thee
Authorized Denominations being evidenced in the records of such participants. issuance, payment and initial registration of tree Notes end the cost ofa • •
Transfers of ownership shall be effected on the records of the Securities reasonable supply of note blanks. The Issuer and as•fwng Agent may deem
Denository-and its participants pursuant to rules and procedures established by_ and treat the person in whose name this Note is registered on the Note Register
the Securities Depository and its participants. The Issuer and the Note Registrar as the absolute owner hereof for the purpose of receiving isayment 7•or Yn:
will recognize theSecurities Depository nominee,while the Registered Owner of account of,the principal or redemption price here•ft•lyt*otst due hereon and
this Note,as the owner of this Note for all purposes,including(i)payments of for all other purposes. The Notes are issued in fully tgistercd ferns•t• • •
•
principal of,and redemption premium,if any,and interest on,this Note,(ii) Authorized Denominations • ••
•••
notices and(iii)-voting. Transfer of principal, interest and any redemption •• • ••
LEGAL OPINION • • • • • •
The following is a true and correct copy of the approving legal opinion of Gilmore include in its annual tax levy the principal and inlet &tar t dde on the Notes to the
&uanc PC.,Bond Counsel,which was dated and issued as of the date of original extent that necessary funds are not provided from other Sorer •• •
issuance and delivery of such Notes: 3. The interest on the Notes is: (a)excludable front gross income tlb,he federal
eal•
L.L.T GI IJIORE&BELL.P.C. income tax purposes,and(b)not an item of tax preferencethe for purposes of
Attorneys at law alternative minimum tax unposed on individuals and corporations,but is takeg,the
2405Grand Boulevard account in determining adjusted current earnings for the purpose of ns set ing the •
Suite Uao alternative minimum ti imposer on certain corporations. The opinions set t
Kansas City,Missouri 64108 this pamgmph aresubject to the condition that the Issuer complies withh all all
Governing Body requirements of the Internal Revenue Code of 1986,as amended(the"Code"),that
City of Salina.Kansas must be satisfied subsequent to the issuance of the Notes in order that interest thereon
be,or continue to be,excludable from gross income for federal income tai purposes.
Country Club Bank The Issuer has covenanted to comply with all of these requirements. Failure to
Prairie Village,Kansas comply with certain of these requirements may cause interest on the Notes to be
m
included in moss income for federal l income taxpurposes retroactive to the date of
Re: 000 General Obligation Temporary Notes,Series 2016-1.of the issuance of the Notes. The Notes have not been designated as"qualified tax-exempt
City of
City of Salina,Kansas,Dated February 10,2016 obligations"for purposes of Code§265(b$3) We express no opinion regarding other g
We have acted as Bond Counsel in connection with the issuance by the City of federal tax consequences arising with respect to the Nota.
Salina Kansas(the"Issuer'),of the above-captioned malas(the"Notes"). In this it The interest on the Notes is exempt from income taxation by the State of
capacity,we have examined the law and the<rained pmcadings,certifications and Kansas. t
other documents that we dean necessary to render this opinion. Capitalized tams not We express no opinion regarding the accuracy,completeness or t the of the
otherwise defined herein shill have the meanings ascribed thereto in the resolution Official Statement or other offering material relating a the Notes(except to the extent,
adopted by the governing body of the Issuer authorizing the issuance of the Notes. if any,stated in the Official Statement). Farther we expressopinion regarding tan
Regarding questions of fact material to our opinion,we have relied on the certified consequences Wising with rapnt m the Notes other than as expressly sec forth in this
proceedings and other certifications of public officials and other furnished to us opinion.
without undertaking to verify than by independent investigation. The rights of the ownen of the Notes and the enforceability thereof may be limited
Based upon the foregoing,we We of the opinion,under existing law,as follows: by binkmpu}, insolvency, ranizarion, moratorium and other similar laws
1, The Notes have been duty authorized,executed and delivered by the Issuer and affecting equity.s'rights generally and by equitable principles,whether considered at
Valid and legally binding general obligations of the Issuer. law or in equity.
are valid
The Notes are payable as to both principal and interest from general obligation This opinion is given as of its date,and we assume no obligation to revise or
bonds of the Issuer and,if not so paid from ad valorem taxes which may be levied supplement this opinion to reflect any facts or circumstances that may come to our
without limitation as to rate or amount upon all the taxable tangible mom-,real and attention or any changes in law that may occur after the date of this opinion.
personal,within the territorial limits of the Issuer. The Issuer is required by law to GIL>IORE&BE1.4 P.C.
NOTE ASSIGNMT
FOR\'ALIIE RECEIVED,the undersigned dotes)hereby sell,assign and transfer to
_— _ . ____ .. __ _ _ _____ . _ _ _ _ .
(Name and Address)
_ _
(Social Security or Taxpayer Identification No.)
the Note to which this assignment is affixed in the outstanding principal amount ofS .standing in the name of the undersigned on the hooks of the Note
Registrar.The undersigned dotes)hereby irrevocably constitute and appoint as agent to transfer said Note on the books of said Note
Registrar with full power of substitution in the prantses.
Dated
Name
Social Scarcity or
Taxpayer Identification No.
Signature(Sign here exactly as name(s) r
appear on the face ofCenifivate) — ` _
Signature guarantee:
By. w
CERTIFICATE OF CLERK
STATE OF KANSAS ) OFFICE OF THE TRFASORER,STATE OF_KANSAS
)SS.
COUNTY OF SALINE) RON ESTES,Treasurer of the Stine of Kansas,does hereby cenity that a
transcript of the proceedings leading up to the-issuance of this Note has been filed
The undersigned.Clerk of the City of Salina Kansas.does hereby certify that the withinn the office of the State a andwas that this Note as registered in such office
dw.
Note has been duly registain my office according a laas orFebruary 10,2016. according to law e n B 1-0 2016
WITNESS my hand and official seal. WITNESS my hand and official seal. )� ( / F'��y/�
!{J—• ry aP•z/,'2. 114r (S®1) By: TrcsswaofdcS1-1hve of Aansu
to{ City Clerk_ETRE SURER
C ERTIFICATE OF STATE TREASURER