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09-10505 Issue GO Bonds 2009-AN t2 z a Lu m 1 ORDINANCE NO. 09-10505 OF THE CITY OF SALINA, KANSAS PASSED JULY 13, 2009 $23,695,000 GENERAL OBLIGATION INTERNAL IMPROVEMENT BONDS SERIES 2009-A (PUBLISHED IN THE SALINA JOURNAL ON July, 2009) ORDINANCE NO. 09-10505 AN ORDINANCE AUTHORIZING AND PROVIDING FOR THE ISSUANCE OF $23,695,000 PRINCIPAL AMOUNT OF GENERAL OBLIGATION INTERNAL IMPROVEMENT BONDS, SERIES 2009-A, OF THE CITY OF SALINA, KANSAS; PROVIDING FOR THE LEVY AND COLLECTION OF AN ANNUAL TAX FOR THE PURPOSE OF PAYING THE PRINCIPAL OF AND INTEREST ON SAID BONDS AS THEY BECOME DUE; AUTHORIZING CERTAIN OTHER DOCUMENTS AND ACTIONS IN CONNECTION THEREWITH; AND MAKING CERTAIN COVENANTS WITH RESPECT THERETO. WHEREAS, the City is a city of the first class, duly created, organized and existing under the rtion and laws of the State; and WHEREAS, pursuant to K.S.A. 12-685 et seq., K.S.A. 12-6a01 et seq., K.S.A. 12-1736 et seq., -le 12 Section 5 of the Kansas Constitution and Charter Ordinance No. 34 of the City, as amended, other provisions of the laws of the State of Kansas applicable thereto, by proceedings duly had, the ;ming body of the City has authorized the following improvements (the "Improvements") to be made e City, to -wit: and WHEREAS, the governing body of the City is authorized by law to issue general obligation of the City to pay the costs of the Improvements; and WHEREAS, the governing body of the City has advertised the sale of the Bonds in accordance the law and at a meeting held in the City on this date, awarded the sale of such Bonds to the best NOW, THEREFORE, BE IT ORDAINED BY THE GOVERNING BODY OF THE CITY SALINA, KANSAS, AS FOLLOWS: Section 1. Definitions of Words and Terms. In addition to words and terms defined elsewhere -ein, the following words and terms in this Ordinance shall have the meanings hereinafter set forth. less the context shall otherwise indicate, words importing the singular number shall include the plural 1 vice versa, and words importing persons shall include firms, associations and corporations, including )lic bodies, as well as natural persons. "Act" means the Constitution and statutes of the State including K.S.A. 10-101 to 10-125, . illusive, K.S.A. 10-620. et seq. and K.S.A. 12-685 et seq., K.S.A. 12-6a01 et seq., K.S.A. 12-1736 et s ., Article 12 Section 5 of the Kansas Constitution and Charter Ordinance No. 34 of the City, all as at ended and supplemented from time to time. "Bond and Interest Fund" means the Bond and Interest Fund of the City for its general olili2ation bonds. "Bond Resolution" means the resolution to be adopted by the governing body of the City ing the terms and details of the Bonds and making covenants with respect thereto. "Bonds" means the City's General Obligation Internal Improvement Bonds, Series 2009-A, in aggregate principal amount of $23,695,000, and dated July 15, 2009, authorized by this Ordinance. Proiect Description Ord/Res No. Authoritv Amount No Ohio Res. 02-5811 K.S.A. 12-685 et seq. $ 1',864,394.72 Wes Diamond Drive Improvement District Ord. 09-10499 K.S.A. 12-6a01 et seq. 652,573.66 Eag I Crest Improvement District Ord. 09-10499 K.S.A. 12-6a01 et seq. 520,486.23 Qua, 1 Meadows IV Improvement District Ord. 09-10499 K.S.A. 12-6a01 etseq. 879,776.65 Red Fox Improvement District Ord. 09-10499 K.S.A. 12-6a01 et seq. 604,439.48 Sou Ninth Street, Phase IV Res. 09-6599 K.S.A. 12-685 et seq. 6,159,659.92 Ene i gy Project Res. 08-6581 K.S.A. 12-1736 et seq. 1,291,771.79 Aq Fir,ruck tics Facility Res. 09-6604 Res. 09-6620 Charter Ord. No. 34 K.S.A. 12-110c 10,887,466.70 834,430.87 Total. $23,695,000.00 and WHEREAS, the governing body of the City is authorized by law to issue general obligation of the City to pay the costs of the Improvements; and WHEREAS, the governing body of the City has advertised the sale of the Bonds in accordance the law and at a meeting held in the City on this date, awarded the sale of such Bonds to the best NOW, THEREFORE, BE IT ORDAINED BY THE GOVERNING BODY OF THE CITY SALINA, KANSAS, AS FOLLOWS: Section 1. Definitions of Words and Terms. In addition to words and terms defined elsewhere -ein, the following words and terms in this Ordinance shall have the meanings hereinafter set forth. less the context shall otherwise indicate, words importing the singular number shall include the plural 1 vice versa, and words importing persons shall include firms, associations and corporations, including )lic bodies, as well as natural persons. "Act" means the Constitution and statutes of the State including K.S.A. 10-101 to 10-125, . illusive, K.S.A. 10-620. et seq. and K.S.A. 12-685 et seq., K.S.A. 12-6a01 et seq., K.S.A. 12-1736 et s ., Article 12 Section 5 of the Kansas Constitution and Charter Ordinance No. 34 of the City, all as at ended and supplemented from time to time. "Bond and Interest Fund" means the Bond and Interest Fund of the City for its general olili2ation bonds. "Bond Resolution" means the resolution to be adopted by the governing body of the City ing the terms and details of the Bonds and making covenants with respect thereto. "Bonds" means the City's General Obligation Internal Improvement Bonds, Series 2009-A, in aggregate principal amount of $23,695,000, and dated July 15, 2009, authorized by this Ordinance. "City" means the City of Salina, Kansas. "Clerk" means the duly appointed and acting Clerk of the City or, in the Clerk's absence, the du y appointed Deputy Clerk or Acting Clerk. W "Improvements" means the improvements referred to in the preamble to this Ordinance and any S stitute Improvements. "Mayor" means the duly elected and acting Mayor or, in the Mayor's absence, the duly 0 ap ointed and/or elected Vice Mayor or Acting Mayor of the City. "Ordinance" means this Ordinance authorizing the issuance of the Bonds. "State" means the State of Kansas. "Substitute Improvements" means the substitute or additional improvements of the City at horized in the manner set forth in the Bond Resolution. Section 2. Authorization of the Bonds. There shall be issued and hereby are authorized and di ected to be issued the General Obligation Internal Improvement Bonds, Series 2009-A, of the City in th principal amount of $23,695,000, for the purpose of providing funds to: (a) pay a portion of the costs of the Improvements; (b) pay costs of issuance of the Bonds; and (c) retire the Issuer's Series 2006-1 N Ites and a portion of the Issuer's Series 2008-1 Notes. Section 3. Security for the Bonds. The Bonds shall be general obligations of the City payable as to both principal and interest in part from special assessments levied upon the property benefited by the cc i istruction. of the Improvements and, if not so paid, from ad valorem taxes which may be levied without limitation as to rate or amount upon all the taxable tangible property, real and personal, within the tei itorial limits of the City. The balance of the principal and interest on the Bonds is payable from ad va orem taxes which may be levied without limitation as to rate or amount upon all the taxable tangible pr pperty, real and personal, within the territorial limits of the City. The full faith, credit and resources of thi City are hereby irrevocably pledged for the prompt payment of the principal of and interest on the B nds as the same become due. Section 4. Terms, Details and Conditions of the Bonds. The Bonds shall be dated and bear in rest, shall mature and be payable at such times, shall be in such forms, shall be subject to redemption ar payment prior to the maturity thereof, and shall be issued and delivered in the manner prescribed and subject to the provisions, covenants and agreements set forth in the Bond Resolution hereafter adopted by th governing body of the City. Section 5. Levy and Collection of Annual Tax. The governing body of the City shall annually mke provision for the payment of principal of, premium, if any, and interest on the Bonds as the same b ome due by levying and collecting the necessary taxes and/or assessments upon all of the taxable to gible property within the City in the manner provided by law. The taxes and/or assessments above referred to shall be extended upon the tax rolls in each of the -ral years, respectively, and shall be levied and collected at the same time and in the same manner as general ad valorem taxes of the City are levied and collected, shall be used solely for the payment of principal of and interest on the Bonds as and when the same become due and the fees and expenses of Paying Agent. The proceeds derived from said taxes and/or assessments shall be deposited in the id and Interest Fund. If at any time said taxes and/or assessments are not collected in time to pay the principal of or in rest on the Bonds when due, the Treasurer is hereby authorized and directed to pay said principal or in rest out of the general funds of the City and to reimburse said general funds for money so expended w en said taxes and/or assessments are collected. Section 6. Further Authority. The Mayor, Clerk and other City officials are hereby further at thorized and directed to execute any and all documents and take such actions as they may deem n essary or advisable in order to carry out and perform the purposes of the Ordinance, and to make al rations, changes or additions in the foregoing agreements, statements, instruments and other d uments herein approved, authorized and confirmed which they may approve, and the execution or tating of such action shall be conclusive evidence of such necessity or advisability. Section 7. Governing Law. This Ordinance and the Bonds shall be governed exclusively by construed in accordance with the applicable laws of the State. 2 Section 8. Effective Date. This Ordinance shall take effect and be in full force from and after ige by the governing body of the City, approval by the Mayor and publication in the official City [BALANCE OF THIS PAGE INTENTIONALLY LEFT BLANK] Z a w 1 1 PASSED by the governing body of the City on July 13, 2009 and APPROVED AND SIGNED b the Vice Mayor. N Z (S AL) W Vice Mayor ro A EST: 0 Ci Ordinance 1 Clerk 4