12-10642 Issue GO Bonds 2012-A(PUBLISHED IN THE THE SAUNA JOURNAL ON JULY 4 '2012)
ORDINANCE NO. 12-10642
AN ORDINANCE AUTHORIZING AND PROVIDING FOR THE ISSUANCE OF GENERAL
OBLIGATION INTERNAL IMPROVEMENT BONDS, SERIES 2012-A, OF THE CITY OF SALINA,
z KANSAS; PROVIDING FOR THE LEVY AND COLLECTION OF AN ANNUAL TAX FOR THE
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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.
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WHEREAS, the City of Salina, Kansas (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., 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 caused the
following improvements (the "Improvements") to be made in the City, to -wit:
Project Description Ordinance No. Authority Amount
Magnolia Commons Ord. 12-10633 K.S.A. 12-6a01 etseq. $ 3,031,529.78
WHEREAS, the governing body of the City is authorized by law to issue general obligation bonds
of the City to pay a portion of the costs of the Improvements; and
WHEREAS, none of such general obligation bonds heretofore authorized have been issued and the
City proposes to issue its general obligation bonds to pay a portion of the costs of the Improvements; 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 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
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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. 10-620 et seq., and K.S.A. 12-6a01 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.
"Bonds" means the City's General Obligation Internal Improvement Bonds, Series 2012-A, dated
July 15, 2012, 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, Assistant 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 of the City or, in the Mayor's absence, the duly
appointed and/or elected Vice Mayor or Acting Mayor of the City.
"Ordinance" means this Ordinance authorizing the issuance of the Bonds.
"Refunded Notes" means the Series 2011-1 Notes maturing on August 1, 2012, in the aggregate
principal amount of $3,400,000.
"Series 2011-1 Notes" means the City's General Obligation Temporary Notes, Series 2011-1, dated
July 15, 2011.
"State" means the State of Kansas.
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.
PASSED by the governing body of the City on July 9, 2012 and APPROVED AND SIGNED by
"Substitute Improvements" means the substitute or additional improvements of the City authorized
in the manner set forth in the Bond Resolution.
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Section 2. Authorization of the Bonds. There shall be issued and hereby are authorized and
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directed to be issued the General Obligation Internal Improvement Bonds, Series 2012-A, of the City in the
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principal amount of $2,365,000, for the purpose of providing funds to: (a) pay a portion of the costs of the
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Improvements; (b) pay costs of issuance of the Bonds; and (c) retire the Refunded 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 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.
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.
PASSED by the governing body of the City on July 9, 2012 and APPROVED AND SIGNED by