Schwan's IRB Application hand-delivered to Mitch 10-06-2021CUSTOMER COPY Miscellaneous Receipt
City of City of Salina
PO Box 736
Salina, KS 67402-0736 !:.i (785) 309-5735 Fax: (785) 309-5738
Salina
Received from:
SCHWAN'S SHARED SERV
Charge Code Org -Object -Proj Comment
IRB APPLICATION
10001 4605 Tax Exemption Fees
000 1000 Cash
PAID BY:
PAYMENT METH:
Receipt
Number 38142
Description
SCHWAN'S SHARED SERV
CHECK
367668
AMT TENDERED:
AMT APPLIED:
CHANGE:
Receipt Date
10/06/21
$250.00
$250.00
TIME: 09:41
CLERK: WolffC
Amount
$250.00
$250.00
$250.00
$0.00
APPLICATION FOR INDUSTRIAL REVENUE BONDS
I. GENERAL INFORMATION
Nan"' o( Applicant Finn
2. /,/f ~4~ CCl~~~tl4' <)Al,,'nt, ~AA.IN_,~~,,,~ ,.f~;S-8 CSo7)S~'?-3ti1'?~
Finn Adcln:os Phone N..,1bcr F .. N ..........
3. 74'~1' /~./V.£~ (?501) '9~/-~,;1'7 c-pcrson/litlc Phone Nwnhcr fax Number
4. Names and Addresses of other contacts:
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Addrm Phono/Fn ('78$'} &Ji/$'"/($'?'/
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gou x/ .$WT-€ "'"""' ~Ar"'P/~ ~ p~.11 ~m 8.3'2· 1".11"8
N•111e Ackfn,u Phoolc/F••
MJress Phone/Fax
S. Names and address of the principal owners officers and directors of the firm requesting the
Industrial Revenue Bonds:
Name Title Address
/!U"OO ~ .... <CU~ ~~ 4~1/,d.
C~o .SU"~ ,!0001 ~~;1£~1 ~ ~S1".3 7 _
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IL NATURE OF PROJECT FINANCING (if refunding/refimancing, skip to section III)
1. Briefly describe the proposed financing:
~~U/J.///'"A.;~ ('.'.'U.,..V .SJ' ~~e"//'a;c,/ """-""~ ~tPv,-;#.,,/Vy
P~ e~~~~,;e,4/'~" ~A4~~.,,,. >' ~?":
701P .sr~,A;~AI ,v A'v.5'
~.e/.N/9/ ~...$ ~ 7-h>/
2. ls the proposed project a new facility, expansion, or replacement of another existing facility?
Please state the reason for the establishment of the new facility, expansion or replacement of the
existing facility:
3. Is the applicant's understanding that the interest on the proposed issue is tax-exempt or taxable?
(Consult Bond Counsel). /Al Y/P/$ & ~
4. Proposed number of years to amo1tize the bond issue:
,/PT ~L~..S/ /c::) .)'"'9A..5 ro &IT r'-"~&.
//)M~.eA,;/ /'1'X ~x~~,,,P.7/p,.,...,,
5. Describe proposed call features:
6. Describe the proposed security for the bonds (i.e .• pledge of collateral, corporate/personal
guarantees, debt service reserve fund, credit enhancements, etc.).
7. Proposed date of issue: ---~-&1.-~-~---
8. Will the bonds be rates? _ __.~c._-=-o~-----By whom'! ______ _
9. Interest rate to be fixed or variable rate /~,.,,,,(! 3;:;,, . If variable, please describe:
10. Please attach proposed debt service schedule. if available.
I I. Anticipated source and use of project financing.
Sources:
Uses:
Bond proceeds
Cash
Other
Interest on Bond Proceeds during construction
TOTAL=
Land cost
Construction Costs
Machinery/Equipment
Cost of Issuance (specify)
Capitalized Interest
Debt Service Reserve Fund
Underwriting Fee
Other
TOTAL=
I 0. Please indicate proposed Trustee.
ftfJ'C'~.;4/,?,;' ~~
$
$
Ill. REFUNDING/REFINANCING (fill out this section if transaction is refunding ofun existing bond
issue)
~14 I. Which form of refunding is proposed?
a. Advance Refunding
b. Current Refunding
2. Current Principal Outstanding$ ________ _
3. Purpose of Refunding:
Interest savings (attach proposed savings schedule)
Extend or shorten repayment (attach debt service schedule)
Change indenture covenants (specify)
Other (specify)
4. Was lhe City of Salina the original Issuer? Yes___ No __ _
Original date of issue:--------
5. If an advance refunding is proposed:
Who is the proposed Escrow Trustee?
Who is propos~d lo provide escrow verification?
What is lhe length of escrow account?
6. When are the refunding bond callable? ______ _
7. Is there a call premium? Ycs ___ (if so, __ ~~::!.Jo) No __ _
8. List estimated sources and uses of refunding bond proceeds:
Sources: Uses:
TOTAL =$ _____ _ TOTAL=$ ________ _
9. Please list the proposed security of the refunding i sue:
I 0. Proposed offering date of the bond issue:
11. Please describe any material changes that have occurred to the company since the original bond
issue, (i.e., new products or services, increase or decrease in employment, changes in sales
revenue, net worth, profitability, new locations, etc.).
IV. PROPOSED USE
I. Location of the proposed facility.
30 I? Je~~~ ..,.9v4".
~/AIY9~ gJ '77~tJ/ >
2. Size of the proposed facility (include size of building and amount of real property):
,y~ 000 ..; ..$/
Name
4. What business is proposed by the applicant at this location?
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5
5. List the products or services to be rendered. (Include details of the nature and scope of the
operation of the business):
6. What percentage of the facility will be occupied by the Applicant? (If less than I 00°/o, please
specify other occupants): /t::JI() ~
7. Describe type of building construction proposed:
/.?~c_,,,,~_, C'0.,,4;'e.A~T~
8. Current zoning: /-OJ
A'~.SL / -~.d '7~ ,;?~;,,;/
9. Anticipated date of completion: .?t:IJ'"'~ ... ~ ~,,, ~.,.,,., ~.,#d 0.1'
pleJ.Jf'
V. ORGANIZATIONAL
I. Describe the organizational structure of the firm (proprietorship, partnership, subsidiary,
corporation, not-for-profit, etc.)
~~~~~('.Jg•"'-"-'~~~ (1'~?~
2. Is the Applicant's stock publicly held? ~....._....;:;~---
If so, which stock exchange? ---~--'#9._.__ ____ _
3. In what state is the Applicant incorporated?
4. Date of incorporation. __ /el~L.b.....,~~,A<,...;;;;o_.« __ _
5. Indicate Applicant's principal bank. iJVl"U,S ~A~t:?
6
6. Which CPA firm does the accounting/audit?
7. Please indicate what company will be performing the environmental audit:
8. Describe and pending or threatened litigation:
9. Total employment of Applicant. 3 PP'y
I 0. How many locations does applicant currently have?
List locations:
VII. MARKETING OF THE BONDS
I. Has the applicant retained a financial advisor, instead of or in addition to an underwriter?
Comp.onylllllll\!
i\ddr ... •
2. Please indicate the proposed marketing an·angement: ~/A
___ Retail public offering Institutional offering
7
___ Private Placement Lt?d~Applicant purchases issue (indicate%)
___ Other (please describe)
3. Proposed date of issue: ____ _
4. Proposed date of offering: ___ _
5. Proposed date of closing: ____ _
6. Is the issue to be sold interstate or intrastate? __ A_~~-~--
7. If other underwriters are going to participate in the offering please list:
Company Principal location
VIII. MEASURE OF ECONOMIC GROWTH AND BENEFIT
I. Number of expected new additional employees to be hired at this site:
Professional
Technical
Clerical
Laborers
Year I Year2 Year 3
2. Please indicate any notable characteristics of the employees for this facility:
3. Describe the economic benefits to the City's economy if the transaction is completed:
8
IX. POTENTIAL CONFLICTS
1. Is any City Commissioner an officer, director or employee of the Applicant or hold an ownership
interest in Appl icant's firm? If so, please identify the individual and the nature of the relationship.
/V/~
2. Please describe any other known circumstances that would create a conflict of interest:
PLEASE NOTE: Any potential conflicts as disclosed above do not necessarily negate the
approval of the Issue, but are pertinent for determining those conflicts for the purpose of public
disclosure.
X. OTHER INFORMATION
Specify below any other data or information you deem pertinent for the City's consideration in passing
upon the approval of the proposed project for financing:
XI. ATTACHMENTS
To facilitate the pr cessing of the application. please attach the following items to the application.
1. Certified copies of applicant's financial audits for the past three (3) years.
2. Applicant's most recent annual or quarterly financial rep rt.
3. Financial Statement. current to date, for each personal guarantor.
9
4. Pro forma statements for the first five (5) years of operation after issuance of Bonds,
including revenue projections, operating expense projections and a debt amortization
schedule.
5. Interim financial statements to date, for the current fiscal year.
XII. APPLICANT'S AGREEMENT
In consideration for the City's acceptance, processing and consideration of this application, Applicant
agrees, represents and warrants as follows:
Applicant acknowledges that City of Salina policy requires a full payment in lieu of ad valorem
property taxes otherwise exempt under Kansas law as a result of the industrial revenue bond financing.
Applicant acknowledges having read the City's tax abatement policy set forth in the attached City of
Salina Resolution Number 91-4265, including the conditions upon which Applicants project may
qualify for partial property tax abatement. Is the applicant requesting partial property tax
abatement pursuant to the City's policy? ,4~;41~/e'9,,.,,. '.$ /'t4 4J v~.s.r,-.,,,,,,_y
/V.t~ /Ot:.1 ~o /~o,4~A!!?/" /~x A'.&4??~/fl'~""'T
Applicant agrees and understands that Applicant shall be responsible for paying all expenses incurred
by the Citv for professional services pertaining to this application and Applicants project regardless of
whether or not the project is approved or a closing on the sale of the contemplated bonds takes place.
Applicant represents and warrants that all statements of fact contained in this application are true to the
Applicants best knowledge and belief.
Partial completion of this application is permitted, however, prior to the adoption of the bond ordinance,
the remaining supplementary information to complete this application must be furn ished. Additional
information may be required by Bond Counsel and the Financial Advisor.
It is understood and agreed the information required in Section XI or any other information will be
disclosed to the financial team and may be disclosed to the public.
d.J'VS!"'.;f,vr /Zl~A-54".4-:'/2_
Title
Return this application to:
Shandi Wicks
City Clerk
City of Salina
P.O. Box 736
Salina, Ks. 67402-0736
10