92-4440 Bond IntentRESOLUTION NUMBER 92-4440
A RESOLUTION THAT THE CITY OF SALINA, KANSAS, SHOULD
REPAIR, ALTER, EXTEND, RECONSTRUCT, ENLARGE AND IMPROVE ITS
WATER AND SEWAGE SYSTEM BY IMPROVING THE CITY'S WASTEWATER
TREATMENT PLANT AND AUTHORIZING NOTICE TO BE GIVEN OF THE CITY'S
INTENTION TO TAKE SUCH ACTION.
WHEREAS, the City of Salina, Kansas (the "City"), presently owns
and operates a water and sewage system (the "System"); and
WHEREAS, pursuant to Resolution Number 90-4169 adopted by the
Governing Body on February 12, 1990, the City approved certain repairs,
alterations, extensions, reconstructions, enlargements and improvements to the
System at an estimated cost of $14,000,000 and to be financed in part with not
to exceed $11,000,000 of water and sewage system revenue bonds, such work
mainly including completion of water system improvements and the making of
improvements to the City's wastewater treatment plant (the "Wastewater
Treatment Plant Improvements") ; and
WHEREAS, on July 19, 1990, the City issued $2,210,000 of water and
sewage system revenue bonds to complete the water system improvements and to
commence work on the Wastewater Treatment Plant Improvements, thus leaving
$8,790,000 of water and sewage system revenue bond authority for Wastewater
Treatment Plant Improvements; and
WHEREAS, pursuant to Resolution Number 90-4246 adopted by the
Governing Body of the City on November 19, 1990, as amended by Resolution
Number 91-4405 adopted by the Governing Body of the City on November 25,
1991, the City authorized certain additional repairs, alterations, extensions,
reconstructions, enlargements and improvements to the System, including, but
not limited to the construction of a new interceptor sewer (the "Interceptor
Improvements"), the Interceptor Improvements being a separate project from the
Wastewater Treatment Plant Improvements approved by Resolution Number
90-4169, the Interceptor Improvements having an estimated cost of $8,100,000,
which cost is to be financed in whole or in part with the proceeds from the
issuance of one or more series of water and sewage system revenue bonds of
the City in an aggregate amount not to exceed $8,100,000; and
WHEREAS, since the adoption of Resolution Number 90-4169, the
original estimated cost of the Wastewater Treatment Plant Improvements has
been revised by the City's engineers, and the preliminary estimated cost of the
Wastewater Treatment Plant Improvements is now $15,073,000; and
WHEREAS, it is necessary for the City to enter into contracts to
make the Wastewater Treatment Plant Improvements and for the Wastewater
Treatment Plant Improvements to be paid for in whole or in part by the sale by
the City of one or more series of its water and sewage system revenue bonds in
an aggregate amount not to exceed $12,073,000; and
WHEREAS, it is necessary for the City to increase previous
authorization with respect to the Wastewater Treatment Plant Improvements by
$3,283,000, SO NOW, THEREFORE
BE IT RESOLVED by the Governing Body of the City of Salina,
Kansas:
Section
1. That
it is hereby found
and determined that the water
and sewage system owned and operated by the
City of Salina, Kansas, should
be repaired, altered,
extended, reconstructed,
enlarged and improved and that
the City should
enter into
contracts to make
the Wastewater Treatment Plant
Improvements as
authorized
by K.S.A. 12-862.
Section
2. That
the total cost of
the Wastewater Treatment Plant
Improvements to
the System
is estimated to be
$1.5,073,000, which cost shall be
paid for in whole
or in part
with the proceeds from the issuance of one or more
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series of water and sewage system revenue bonds of the City in an aggregate
amount not to exceed $12,073,000, as authorized by K.S.A. 12-856 to 12-869,
inclusive, and all amendments thereto, said revenue bonds to be payable solely
from the revenues derived by the City from the operation of the System.
Accordingly, the City Clerk is hereby authorized and directed to give notice as
provided by law in the official City newspaper of the intention of the
Governing Body to enter into contracts to make the Wastewater Treatment Plant
Improvements and to issue revenue bonds as aforesaid, and that all such
further action be taken as may be necessary in order to effect the making and
completion of the Wastewater Treatment Plant Improvements and the issuance,
sale and delivery of the revenue bonds in accordance with the provisions of
K.S.A. 12-856 to 12-869, inclusive, and all amendments thereto.
Section 3. That the City hereby restates and again declares that
it reasonably expects to reimburse itself out of the proceeds of the applicable
issue of Bonds for all or part of the expenditures incurred and paid with
respect to the Wastewater Treatment Plant Improvements prior to the issuance
of the Bonds.
Section 4. That this declaration of official intent is made under
Section 1.103-18 of the Income Tax Regulations.
Section 5. That this resolution shall take effect and be in full
force and effect after its passage by the Board of Commissioners of said City.
Adopted by the Board of Commissioners and signed by the Mayor this
23rd day of March, 1992.
Stephen C. Rya Mayor
(SEAL)
ATTEST:
Jacqu line Shiever, City Clerk