85-3792 Issue Temp Notes PT-95RESOLUTION NUMBER 85-3792
WHEREAS, bids were taken on utility
improvements
A RESOLUTION APPROPRIATING THE SUM OF $1,017,000.00, BEING
a contract in the amount
of $297,978.00 was
THE CONTRACT PRICE FOR MATERIALS AND LABOR SUPPLIED AND
Inc., and
FURNISHED IN THE MATTER OF THE CONSTRUCTION OF CERTAIN CURBING,
WHEREAS, bids
GUTTERING, PAVING, GRADING, WATER AND SANITARY SEWER
guttering, paving,
grading improvements on
IMPROVEMENTS IN THE CITY OF SALINA, KANSAS, AND FURTHER PROVIDING
'
in the amount of
FOR THE ISSUANCE OF ONE TEMPORARY NOTE IN THE SUM OF $1,017,000.00
FOR THE PAYMENT THEREFOR.
Brown and Brown,
Inc., and
WHEREAS, Resolution Number 84-3723, adopted July 16, 1984;
Resolution Number 84-3730, adopted August 20, 1984; Resolution Number
84-3741, adopted October 22, 1984; Resolution Number 84-3752, adopted
December 17, 1984; Resolution Number 85-3759, adopted January 14, 1985;
Resolution Number 85-3763, adopted January 28, 1985; Resolution Number
85-3767, adopted March 18, 1985; Resolution Number 85-3771, adopted April 1,
1985; Resolution Number 85-3777, adopted April 8, 1985 authorized the issuance
of temporary notes of the City of Salina, Kansas in the amount not to exceed the
aggregate provided by law, to pay the cost of construction of certain curbing,
guttering, paving, grading, water and sanitary sewer improvements in in the
City of Salina, Kansas, and
WHEREAS, bids were taken on utility
improvements
on May 1, 1985 and
a contract in the amount
of $297,978.00 was
awarded to Wilson Constructors,
Inc., and
WHEREAS, bids
were taken for the curbing,
guttering, paving,
grading improvements on
May 1, 1985 and
a contract
in the amount of
$719,253.00 was awarded to
Brown and Brown,
Inc., and
WHEREAS, work on the project has progressed to a point where a
partial payment is due the contractors, and
' WHEREAS, additional partial payments will be due in short intervals,
and
WHEREAS, the sum of $1,017,000.00 does not exceed the aggregate
provided by law as authorized by Resolution Number 84-3723, adopted July 16,
1984; Resolution Number 84-3730, adopted August 20, 1984; Resolution Number
84-3741, adopted October 22, 1984; Resolution Number 85-3759, adopted January
14, 1985; Resolution Number 85-3763, adopted January 28, 1985; Resolution
Number 85-3767, adopted March 18, 1985; Resolution Number 85-3771, adopted
April 1, 1985; Resolution Number 85-3777, adopted April 8, 1985 and will not
cause to be exceeded any statutory or bonded debt limit, SO NOW, THEREFORE
BE IT RESOLVED by the Governing Body of the City of Salina,
Kansas:
That one temporary note, as authorized by Resolution Number 84-3723,
adopted 'July 16, 1984; Resolution Number 84-3730, adopted August 20, 1984;
Resolution Number 84-3741, adopted October 22, 1984; Resolution Number
84-3752, adopted December 17, 1984; Resolution Number 85-3759, adopted
January 14, 1985; Resolution Number 85-3763, adopted January 28, 1985;
Resolution Number 85-3767, adopted March 18, 1985; Resolution Number 85-3771,
adopted April 1, 1985; Resolution Number 85-3777, adopted April 8, 1985 be and
the same is hereby authorized to be issued in the sum of $1,017,000. That said
temporary note shall be numbered one (1), Series PT -95, shall bear interest at
' the rate of seven percent (7$), per annum, payable at maturity at the Office of
the City Treasurer of the City of Salina, Kansas, shall become due on July 1,
1987, or shall be redeemed or cancelled before or at the time bonds are issued in
lieu thereof. Said temporary notes shall be in the form and executed as by law
prescribed. That a copy of said temporary note is hereto attached, made a part
hereof, and marked Exhibit "A" and said copy being duly certified as such by
the City Clerk of said City of Salina, Kansas. That upon the sale of said
Temporary Note Number One (1), Series PT -95, dated July 1, 1985 in the
amount of $1,017,000. either at public or private sale by the Governing Body of
the City of Salina, Kansas, the proceeds from such sale shall be deposited with
the City Treasurer of the City of Salina, Kansas, for payments to Wilson
Constructors, Inc. and Brown and Brown, Inc. from time to time as partial
payments are properly certified by the City Engineer.
The City Clerk is hereby designated as the registrar for the
temporary note.
Adopted by the Board of Commissioners and signed by the Mayor this
8th day.,of July, 1985.
' Merle A. Hodges, Mayor
[SEAL]
ATTEST:
9a
D. L. Harrison, City Clerk
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