97-5135 IRB RedemptionCo�sormeiea-setlne
RESOLUTION NUMBER 97-5135
A RESOLUTION AUTHORIZING THE MAYOR TO EXECUTE A
1UEST TO REDEEM THE OUTSTANDING CITY OF SALINA, KANSAS
USTRIAL REVENUE BONDS, SERIES A, 1990 AND TAXABLE INDUSTRIAL
ENUE BONDS, SERIES B, 1990 (WINDSOR NURSING HOME ASSOCIATES,
.) DATED JANUARY 1, 1990.
WHEREAS, in 1990 the City of Salina (the "Issuer") issued industrial
revenue bonds (the "Bonds") for the benefit of Windsor Nursing Home
Associates, Inc. (the "Tenant") ; and
WHEREAS, Sunflower Bank, N.A.
serves as the City's trustee (the
"Trustee") under the industrial bond issue; and
WHEREAS, the Trust Indenture
(Article III) for the industrial
revenue bond issue anticipates the possible
redemption of the Bonds prior to
maturity by providing that the Trustee shall
call the Bonds for redemption and
payment upon receipt of a written request of
the Issuer and the consent of the
Tenant at least 45 days prior to the proposed
redemption date; and
WHEREAS, the City has been advised of the Tenant's desire to
redeem the Bonds and the Tenant's request
that the City as Issuer give the
requisite notice of redemption to the Trustee;
SO NOW THEREFORE
I Kansas :
BE IT RESOLVED by the Governing Body of the City of Salina,
Section 1. That the Mayor is authorized to execute a notice to the
Trustee of redemption of the Bonds specifying a proposed redemption date to
The determined by the Tenant and in a form approved by the City Attorney.
Section 2. That the City Attorney is authorized to direct the notice
of redemption of the Bonds to the Trustee upon the direction and consent of
Ithe Tenant.
Section 3. That this resolution shall be in full force and effect
from and after its adoption.
Adopted by the Board of Commissioners and signed by the Mayor
this 17th day of March, 1997.
:el n Maxwell, Mayor
( SEAL)
ATTEST:
16-
4d. Lo CMC , City lerk