82-3609 Authorize Exline IRBRESOLUTION NUMBER 82-3609
WHEREAS, the City of Salina, Kansas (the "City''), is authorized and
empowered under the provisions of K.S.A. 12-1740 to 12-1749, inclusive, as
amended, (the "Act") to issue revenue bonds for economic development purposes;
and,
WHEREAS, Exline, Inc. (the "Applicant''), has requested the City to
finance certain facilities to be used for commercial purposes (the "Project")
at a cost of approximately $500,000; and,
WHEREAS, the City desires to finance the cost.of the construction of
buildings, improvements and equipment for the Project by the issuance of bonds
under the Act in the amount of approximately $500,000, 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, improvements and 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 that the issuance of its bonds to finance 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
industrial project for the Applicant to be financed out of the proceeds of
approximately $500,000 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 with 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 this resolution shall take effect immediately.
Adopted by the Board of Commissioners and signed by the Mayor this
20th day of September, 1982.
(SEAL)
ATTEST:
D. L. Harrison, City Clerk
Keith G. Duckers, Mayor