97-5131 Sell GO BondsConsoliaaleh5elina
RESOLUTION NO. 97- 5131
RESOLUTION AUTHORIZING THE PUBLIC SALE OF $1,650,000 PRINCIPAL
AMOUNT OF GENERAL OBLIGATION INTERNAL IMPROVEMENT BONDS,
SERIES 1997-A OF THE CITY OF SALINA, KANSAS AND APPROVING A
PROJECT TO BE FINANCED BY SUCH BONDS.
BE IT RESOLVED BY THE GOVERNING BODY OF THE CITY OF SALINA, KANSAS, AS
FOLLOWS:
Section 1. The General Obligation Internal Improvement Bonds, Series 1997-A of the City of
Salina, Kansas (the "City"), in the approximate principal amount of $1,650,000, as described in the
Notice of Bond Sale and Preliminary Official Statement presented to the meeting of the governing body
at which this resolution was adopted (the "Bonds"), shall be offered at competitive public sale with
sealed bids on April 7, 1997, at 2:00 p.m, local time.
Section 2. The City Clerk is hereby authorized and directed to receive sealed bids for the
purchase of the Bonds on behalf of the City at said time and place and to deliver all bids so received to
the governing body at its meeting to be held at 4:00 p.m. on such date, at which meeting the governing
body shall review such bids and act on the acceptance of the best bid.
Section 3. The Preliminary Official Statement, dated March 17, 1997, is hereby approved and
"deemed final" except for the omission of certain information as provided in the Securities and Exchange
Commission Rule 15c2-12, and the City Clerk is hereby authorized to use such document in connection
with the public sale of the Bonds.
Section 4. The City Clerk and George K. Baum & Company, the City's Financial Advisor, are
hereby authorized and directed to give notice of said bond sale by publishing a notice of the bond sale or
summary thereof not less than 6 days before the date of the bond sale in the official City newspaper and
the Kansas Register and by mailing copies of the Notice of Bond Sale and Preliminary Official Statement
to prospective purchasers of the Bonds.
Section 5. The City Clerk and the other officers and representatives of the City are hereby
authorized and directed to take such other action as may be necessary to carry out the public sale of the
Bonds. George K. Baum & Company is hereby authorized to submit a bid for or participate in a
syndicate bidding for the Bonds.
Section 6. Redemption of Temporary Notes. The redemption on May 1, 1997, of the following
temporary notes issued to finance a portion of the project pending the issuance of the Bonds is hereby
authorized:
Maturity
Series Name Amount Dated Date Date Holder
1995-2 $1,350,000 11/01/95 11/01/97 UMB Bank, n.a.
Kansas City, Missouri
ConmliUl Salina
The City Clerk is hereby authorized and directed to give notice of redemption of such notes in
accordance with the resolutions issuing such notes, such redemption notice being in substantially the
form attached hereto as Exhibit "A".
Section 7. Included as an improvement to be financed with the Bonds is reconstructing and
improving the City's municipal golf course facilities which will involve the issuance of Bonds pursuant
to K.S.A 12-1736 et seg The City has made and expects to make capital expenditures after the date of
this Resolution in connection with said improvement and intends to reimburse itself for such
expenditures with the proceeds of the Bonds. The portion of the Bonds attributable to said improvement
is not expected to exceed $260,000. The City will not reimburse itself for any expenditures made more
than 60 days before the date hereof except for preliminary expenditures, if any, not exceeding $52,000
for architectural, engineering, surveying, soil testing and similar costs incurred prior to commencement
of construction. Preliminary expenditures do not include land acquisition, site preparation or similar
costs incident to the commencement of construction.
Section 8. This Resolution shall be in full force and effect from and after its adoption.
ADOPTED by the governing body on March 17, 1997.
(SEAL)
ATTEST:
`NV_j ALL L - Lrtl,
CityJerk
EXHIBIT A
CENTSEC
c/o UMB Bank, n.a.
1010 Grand Avenue
Kansas City, Missouri 64106
LdL, Z-;����
Mayor
As the owner of the Municipal Temporary Note, Series 1995-2, of the City of Salina, Kansas (the
"City"), maturing November 1, 1997, and in the total aggregate principal amount of $1,350,000 (the
"Note"), you are hereby notified that the Note has been called for redemption and payment in full on
May 1, 1997 (the "Redemption Date"), at a redemption price equal to the principal amount thereof, plus
accrued interest to the Redemption Date, without premium.
On the Redemption Date, the Note will be due and payable at the office of the Treasurer of the
City. From and after the Redemption Date, all interest on the note will cease to accrue.
Dated: March _, 1997.
CITY OF SALINA, KANSAS
City Clerk
cc: Machell Kent at
State Treasurer's Office