85-3765 Intent Omaha Hotel IRBRESOLUTION NUMBER 85-3765
A RESOLUTION EXPRESSING -THE INTENTION OF THE CITY OF
SALINA TO ISSUE ECONOMIC DEVELOPMENT REVENUE BONDS FOR OMAHA
HOTEL, Inc.. IN AN AMOUNT OF NOT TO EXCEED $6,000,000.
WHEREAS, the City of Salina, Kansas (the "City") , is authorized and
empowered under the provisions of Kansas Economic Revenue Bond Act, K.S.A.
12-1740 to 12-1749a, as amended, to issue revenue bonds for economic
development purposes; and,
WHEREAS, Omaha Hotel, Inc. (the "Applicant"), has requested the
City to finance a 180 room motel and convention facility to be located at
1600 West Crawford, Salina, Kansas, and to be used for commercial purposes
(the "Project") at a cost of approximately $7,000,000; and,
WHEREAS, the City and the Applicant desire that the construction of
buildings and improvements and the purchase of the equipment for the Project
commence immediately; SO NOW, THEREFORE
BE IT RESOLVED by the Governing Body of the City of Salina, .Kansas:
Section 1. That the Governing Body of the City hereby finds and
determines tat he issuance of its revenue bonds to finance a portion of the
costs of the Project will be in furtherance of the public purposes set forth in
the Act, and that the Project will promote the welfare of the City.
Section 2. That the Governing Body of the City hereby approves the
Project for tie—T`ppIicant to be financed out of the proceeds of approximately
$6,000,000 principal amount of Revenue Bonds of the City to be issued pursuant
to the Act.
Section 3. That the City officials are hereby authorized and directed
to proceed wit the necessary negotiations relating to said Project and the
preparation of the legal documents relating thereto for final action by the
Governing Body of the City.
Section 4. That the Revenue Bonds will be issued with the express
understan ind g tat the Applicant will waive any ad valorem property tax
exemption which would otherwise be available to the Project under the provisions
of K.S.A. 79-201(a) Second, as amended.
Section S. That in the event the Revenue Bonds are not ultimately
issued for .any reason, the City of Salina, Kansas, shall not have assumed or
incurred any liability or obligation to the Applicant or any other party by
virtue of this. resolution or by virtue of any proceedings or action taken in
connection therewith, or in reliance thereon.
Section 6. That this resolution shall take effect immediately.
. Adopted by the Board of Commissioners and signed by the Mayor this
4th day of March, 1985.
Ch
aresRothMayor
[SEAL]
ATTEST:
D. L. L. Harrison City Clerk
WHEREAS, the City
desires to finance the cost of constructing
buildings
and improvements and
to purchase equipment for the
Project by the
issuance
of revenue bonds under the Act in the amount of
approximately
$6,000,000,
said bonds to be
payable solely out of rentals,
revenues and
receipts
derived from the lease
of the Project by the Applicant
from the City;
and,
WHEREAS, the City and the Applicant desire that the construction of
buildings and improvements and the purchase of the equipment for the Project
commence immediately; SO NOW, THEREFORE
BE IT RESOLVED by the Governing Body of the City of Salina, .Kansas:
Section 1. That the Governing Body of the City hereby finds and
determines tat he issuance of its revenue bonds to finance a portion of the
costs of the Project will be in furtherance of the public purposes set forth in
the Act, and that the Project will promote the welfare of the City.
Section 2. That the Governing Body of the City hereby approves the
Project for tie—T`ppIicant to be financed out of the proceeds of approximately
$6,000,000 principal amount of Revenue Bonds of the City to be issued pursuant
to the Act.
Section 3. That the City officials are hereby authorized and directed
to proceed wit the necessary negotiations relating to said Project and the
preparation of the legal documents relating thereto for final action by the
Governing Body of the City.
Section 4. That the Revenue Bonds will be issued with the express
understan ind g tat the Applicant will waive any ad valorem property tax
exemption which would otherwise be available to the Project under the provisions
of K.S.A. 79-201(a) Second, as amended.
Section S. That in the event the Revenue Bonds are not ultimately
issued for .any reason, the City of Salina, Kansas, shall not have assumed or
incurred any liability or obligation to the Applicant or any other party by
virtue of this. resolution or by virtue of any proceedings or action taken in
connection therewith, or in reliance thereon.
Section 6. That this resolution shall take effect immediately.
. Adopted by the Board of Commissioners and signed by the Mayor this
4th day of March, 1985.
Ch
aresRothMayor
[SEAL]
ATTEST:
D. L. L. Harrison City Clerk