07-6394 GO Bonds and Temp Notess
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RESOLUTION NO. 07-6394
A RESOLUTION AUTHORIZING THE OFFERING FOR PUBLIC SALE OF GENERAL
OBLIGATION TEMPORARY NOTES, SERIES 2007-1 AND GENERAL OBLIGATION
INTERNAL IMPROVEMENT BONDS, SERIES 2007-A OF THE CITY OF SALINA,
KANSAS.
BE IT RESOLVED BY THE GOVERNING BODY OF THE CITY OF SALINA, KANSAS, AS
FOLLOWS:
Section 1. The approximately $5,825,000 principal amount of General Obligation Temporary Notes,
Series 2007-1 (the "Notes") of the City of Salina, Kansas (the "City"), and the approximately $6,780,000
principal amount of General Obligation Internal Improvement Bonds, Series 2007-A (the "Bonds") of the
City, as to be described in the Notice of Sale and Preliminary Official Statement hereinafter referred to, shall
be offered at competitive public sale with bids on Monday, June 11, 2007. The projects to be financed with
the proceeds of the Notes and Bonds are shown on the attached Exhibit A. Bids for the Notes will be
received until 1:30 p.m., local time, on such date, or until such other time as the City will determine, with the
advice of its Financial Advisor. Bids for the Bonds will be received until 2:00 p.m., local time, on such date,
or until such other time as the City will determine, with the advice of its Financial Advisor.
Section 2. The City Clerk is hereby authorized and directed to receive bids for the purchase of the
Notes and the Bonds on behalf of the City and to deliver all bids so received to the governing body at its
meeting to be held at 4:00 p.m. on the sale date, at which meeting the governing body shall review such bids
and act on the acceptance of the best bids.
Section 3. The Mayor, City Clerk and Finance Director are authorized to arrange for the preparation
of a Preliminary Official Statement. For the purpose of enabling the purchaser(s) of the Notes and the Bonds
to comply with the requirements of Rule 15c2 -12(b)(1) of the Securities and Exchange Commission, the City
hereby authorizes the Finance Director, upon completion of the Preliminary Official Statement to his
satisfaction, to provide the purchaser(s) with a letter or certification to the effect that the City deems the
information contained in the Preliminary Official Statement to be "final' as of its date, except for the omission
of such information as is permitted by Rule 15c2 -12(b)(1), and to take such other actions or execute such other
documents as such officers in their reasonable judgment deem necessary to enable the purchaser(s) to comply
with the requirements of such Rule. The Preliminary Official Statement may be used in connection with the
public sale of the Notes and the Bonds.
Section 4. The City Clerk and George K. Baum & Company, the City's financial advisor, are hereby
authorized to give notice of said public sale by mailing or otherwise making available copies of the Notice of
Sale and Preliminary Official Statement to prospective purchasers of the Notes and 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 Notes
and the Bonds. George K. Baum & Company is hereby authorized to submit a bid for or participate in a
syndicate bidding for the Notes and the Bonds.
Section 6. The City intends to proceed with the projects and expects to make expenditures on and
after the date of this Resolution in connection with the project to be financed with the proceeds of the Notes
and the Bonds and declares its intention to reimburse itself for such expenditures with the proceeds of such
Notes and Bonds.
Section 7. This Resolution shall be in full force and effect from and after its adoption.
ADOPTED by the governing body on May 21, 2007.
(SEAL)
ATTEST:
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City Clerk
EXHIBIT A
LIST OF PROJECTS TO BE INCLUDED IN UPCOMING FINANCING
Series 2007-1 Notes
Liberty Addition Sewer
Fire Station Number 2
Pacific Avenue Improvements
.South Ohio Corridor, PT II
Downtown Traffic Improvements
West Diamond Drive
Liberty Addition 42, Phase III
Magnolia Hills Estates, Phase II
Quail Meadows Estates, Phase III
Golden Eagle Estates #4 Phase III
Series 2007-A Bonds
North Ohio Overpass
North Broadway Blvd
Magnolia Hills Subdivision
Piercy Addition
Golden Eagle
Eagle Med
Quail Meadows, Phase II
West Grand Water extension
Lakeside Addition