10-10540 GO Bonds 2010-As
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ORDINANCE NO. 10-10540
OF
THE CITY OF SALINA, KANSAS
PASSED
APRIL 19, 2010
$6,875,000
GENERAL OBLIGATION INTERNAL IMPROVEMENT AND REFUNDING BONDS
SERIES 2010-A
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(PUBLISHED IN THE SALINA JOURNAL ON APRIL,9&, 2010)
ORDINANCE NO. 10-10540
AN ORDINANCE AUTHORIZING AND PROVIDING FOR THE ISSUANCE OF
$6,875,000 PRINCIPAL AMOUNT OF GENERAL OBLIGATION INTERNAL
IMPROVEMENT AND REFUNDING BONDS, SERIES 2010-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
Constitution and laws of the State; and
WHEREAS, pursuant to K.S.A. 12-6a01 et seq., K.S.A. 12-1736 et seq., K.S.A. 12-2101 et seq., as
amended, and other provisions of the laws of the State of Kansas applicable thereto, by proceedings duly
had, the governing body of the City has authorized the following improvements (the "Improvements") to be
made in the City, to -wit:
Proiect Description
Landfill, Cell 5 Construction
BiCentennial Center Renovation
Fire Station #1 Renovation
Scoular Addition
Stone Creek Addition
; and
Resolution No.
Authority
Amount
09-6648
K.S.A. 12-2101 etseq.
$1,600,000.00
09-6653
K.S.A. 12-1736 et seq.
2,500,000.00
09-6681
K.S.A. 12-1736 et seq.
1,787,000.00
09-2764
K.S.A. 12-6a01 etseq.
52,500.00
08-2714
K.S.A. 12-6a01 etseq.
354,100.00
Total.
$6,293,600.00
WHEREAS, the governing body of the City is authorized by law to issue general obligation bonds
of the City to pay the costs of the Improvements; and
WHEREAS, the City heretofore issued and has outstanding the Refunded Bonds and is authorized
by K.S.A. 10-427 et seq. to issue general obligation refunding bonds of the City for the purpose of refunding
the Refunded Bonds; and
WHEREAS, in order to achieve interest cost savings through early redemption of the Refunded
Bonds, and to provide an orderly plan of finance for the City, it has become desirable and in the best interest
of the City and its inhabitants to refund the Refunded Bonds; and
WHEREAS, the governing body of the City has advertised the sale of the Bonds in accordance with
the law and at a meeting held in the City on April 19, 2010 this date, awarded the sale of such Bonds to the
best bidder.
NOW, THEREFORE, BE IT ORDAINED BY THE GOVERNING BODY OF THE CITY OF
SALINA, KANSAS, AS FOLLOWS:
Section 1. Definitions of Words and Terms. In addition to words and terms defined elsewhere
herein, the following words and terms in this Ordinance shall have the meanings hereinafter set forth. Unless
the context shall otherwise indicate, words importing the singular number shall include the plural and vice
versa, and words importing persons shall include firms, associations and corporations, including public bodies,
as well as natural persons.
"Act" means the Constitution and statutes of the State including K.S.A. 10-101 to 10-125, inclusive,
K.S.A. 10-427 et seq., K.S.A. 10-620 et seq. and K.S.A. 12-6a01 et seq., K.S.A. 12-1736 et seq., K.S.A. 12-
2101 et seq., all as amended and supplemented from time to time.
"Bond and Interest Fund" means the Bond and Interest Fund of the City for its general obligation
bonds.
Bond Resolution' means the resolution to be adopted by the governing body of the City
prescribing the terms and details of the Bonds and making covenants with respect thereto.
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"Bonds" means the City's General Obligation Internal Improvement and Refunding Bonds, Series
2010-A, in the aggregate principal amount of $6,875,000, and dated May 1, 2010, 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 duly
appointed Deputy Clerk or Acting Clerk.
"Improvements" means the improvements referred to in the preamble to this Ordinance and any
Substitute Improvements.
"Mayor" means the duly elected and acting Mayor or, in the Mayor's absence, the duly appointed
and/of elected Vice Mayor or Acting Mayor of the City.
"Ordinance" means this Ordinance authorizing the issuance of the Bonds.
"Refunded Bonds" means the Series 2002-A Bonds maturing in the years 2011 to 2013, inclusive,
in the aggregate principal amount of $630,000.
"Refunded Bonds Redemption Date" means May 15, 2010.
"Refunded Bonds Resolution" means the ordinance and the resolution which authorized the
Refunded Bonds.
"Series 2002-A Bonds" means the City's General Obligation Water and Sewage System Refunding
Bonds, Series 2002-A, dated January 15, 2002.
"State" means the State of Kansas.
"Substitute Improvements" means the substitute or additional improvements of the City authorized
in the manner set forth in the Bond Resolution.
Section 2. Authorization of the Bonds. There shall be issued and hereby are authorized and
directed to be issued the General Obligation Internal Improvement and Refunding Bonds, Series 2010-A, of
the City in the principal amount of $6,875,000, for the purpose of providing funds to: (a) pay the costs of the
Improvements; (b) pay Costs of Issuance of the Bonds; (c) refund the Refunded Bonds; and (d) retire interim
financing issued to finance the Improvements.
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
construction 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 territorial
limits of the City. The balance of the principal and interest on the Bonds is payable 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 territorial limits of the City. The full faith, credit and resources of the City are hereby
irrevocably pledged for the prompt payment of the principal of and interest on the Bonds as the same become
due.
Section 4. Terms, Details and Conditions of the Bonds. The Bonds shall be dated and bear
interest, shall mature and be payable at such times, shall be in such forms, shall be subject to redemption and
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 the
governing body of the City.
Section 5. Levy and Collection of Annual Tax. The governing body of the City shall annually
make provision for the payment of principal of, premium, if any, and interest on the Bonds as the same
become due by levying and collecting the necessary taxes and/or assessments upon all of the taxable tangible
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
several years, respectively, and shall be levied and collected at the same time and in the same manner as the
general ad valorem taxes of the City are levied and collected, shall be used solely for the payment of the
principal of and interest on the Bonds as and when the same become due and the fees and expenses of the
Paying Agent. The proceeds derived from said taxes and/or assessments shall be deposited in the Bond and
Interest Fund.
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If at any time said taxes and/or assessments are not collected in time to pay the principal of or
interest on the Bonds when due, the Treasurer is hereby authorized and directed to pay said principal or
interest out of the general funds of the City and to reimburse said general funds for money so expended when
said taxes and/or assessments are collected.
Section 6. Further Authority. The Mayor, Clerk and other City officials are hereby further
authorized and directed to execute any and all documents and take such actions as they may deem necessary
or advisable in order to carry out and perform the purposes of the Ordinance, and to make alterations,
changes or additions in the foregoing agreements, statements, instruments and other documents herein
approved, authorized and confirmed which they may approve, and the execution or taking 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 and
construed in accordance with the applicable laws of the State.
Section 8. Effective Date. This Ordinance shall take effect and be in full force from and after its
passage by the governing body of the City, approval by the Mayor and publication in the official City
newspaper.
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PASSED by the governing body of the City on April 19, 2010 and APPROVED AND SIGNED by
the Mayor.
(SEAL)
---Mayor
ATTEST:
(Signature Page to Bond Ordinance)