84-3691 Intent Issue Famdoc IRB1
1
A RESOLUTION INDICATING THE INTENTION OF THE. CITY OF SALIN/
TO ISSUE $200,000 REVENUE BONDS FOR FAMDOC, INC. PURSUANT TO KANSAS
ECONOMIC REVENUE BOND ACT.
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 developmen.
purposes; and,
WHEREAS, Famdoc, Inc. (the "Applicant"), has requested the City
to finance certain medical facilities to be used for commercial purposes (the
"Project") at a cost of approximately $200,000; and,
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
$200,000, 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 that the 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 the Applicant to be financed out of the proceeds of approximately
$200,000 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 procee wid�ttTie necessary negotiations relating to said Project and the
preparation of the legal documents relating thereof for final action by the
Governing Body of the City.
Section 4. That said revenue bonds will be issued with the express
understan Inc g—t i—at 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 5. In the event the Revenue Bonds are not ultimately issued
for any reason, the City of Salina, Kansas, shall not be obligated to 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
6th day of February, 1984.
(SEAL)
ATTEST:
Harrison, City Clerk
Qat/ Y., x6tl�)
John urgeMayor