15-10783 Authorizing the Issuance of GO Rfdg & Internal Imp. Bonds, Series 2015-AORDINANCE NO. 15-10783
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THE CITY OF SALINA, KANSAS
PASSED
JULY 6, 2015
GENERAL OBLIGATION REFUNDING AND INTERNAL IMPROVEMENT BONDS
SERIES 2015-A
ORDINANCE NO. 15-10783
AN ORDINANCE AUTHORIZING AND PROVIDING FOR THE ISSUANCE OF
GENERAL OBLIGATION REFUNDING AND INTERNAL IMPROVEMENT
BONDS, SERIES 2015-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 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. and K.S.A. 12-1736 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
Magnolia Hills Phase IV
Bicentennial Center
Ord./Res. No.
Res. 13-7016
Res. 13-6988 &
Res. 14-7087
Authori
K.S.A. 12-6a01 et seq
K.S.A. 12-1736 et seq
Total:
Allocable Principal
Amount
$735,000
4,945,000
$5,680,000
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, the City previously 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 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 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. 12-6a01 et seq. and K.S.A. 12-1736 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 Refunding and Internal Improvement Bonds,
Series 2015-A, dated July 29, 2015, 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 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 Bonds" means the Series 2006-A Bonds maturing in the years 2016 to 2026,
inclusive, in the aggregate principal amount of $1,210,000.
"Refunded Bonds Redemption Date" means October 1, 2015, for the Series 2006-A Bonds.
"Refunded Notes" means the Series 2014-1 Notes maturing on August 1, 2015 in the aggregate
principal amount of $5,000,000.
"Series 2006-A Bonds" means the City's General Obligation Internal Improvement Bonds, Series
2006-A, dated April 1, 2006.
"Series 2014-1 Notes" means the City's General Obligation Temporary Notes, Series 2014-1,
dated July 30, 2014.
"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 Refunding and Internal Improvement Bonds, Series 2015-A,
of the City in the principal amount of $6,825,000, for the purpose of providing funds to: (a) pay a portion
of the costs of the Improvements; (b) refund the Refunded Bonds; (c) pay costs of issuance of the Bonds;
and (d) retire the Refunded Notes.
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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.
[BALANCE OF THIS PAGE INTENTIONALLY LEFT BLANK]
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CD
,�. 1 870
nnlall,=
Clerk
governing body of the City on July 6, 2015 and APPROVED AND SIGNED by
1&r:_- I
ayor
(Signature Page to Bond Ordinance - Bonds)
Publisher's Affidavit
I. Christ; Fink , being duly sworn
declare that I am a Tggal Conrdinator
of THE SALINA JOURNAL, a daily newspaper
published at Salina, Saline County, Kansas, and of
general circulation in said county, which newspaper
has been admitted to the mails as second class matter in
said county, and continuously and uninterruptedly
published for five consecutive years prior to first
publicaticn of attached notice, and that the
Ordinance 15-10783 Notice has
been correctly published in the entire issue of said
newspaper one time, publication being given in the issue
of July 10, 2015
P
1 lA \ ,~C4 ,
Subscribed and sworn to before me, this(�
day of A.D. 20
61 01
Notary Public
Printer's Fee $115.50
�.w.W Mh►aawa�
=rc�
,Journal July 10, 2015) {
PUBLICATION
,SUMMARY OF ORDI-
NANCE NO. 15-10783,
PASSED BY THE GOV-
ERNING BODY OF THE
CITY OF SALINA, KAN-
SAS ON THE 6TH DAY
OF JULY, 2015
SUMMARY
On July 6, 2015, the
Governing Body of the,
City+of Salina, Kansas,
adopted Ordinance No.
t5-10783, authorizing
and providing for the is
suance of $6,825,000
principal amount of Gen-
eral Obligation Refund -I
Ing and Internal im-,
provement Bonds, Se -
ryes 2015-A, of the Cityi
of Salina, Kansas. Thel
purpose of the issuance,
f the bonds is to pro-
ide funds to finance
certain public Improve-
ments in the City, refund
t� portion of previously'
i$sued general obliga-
tion bonds of the City,
and retire a portion of
previously issued tem-
porary notes of the City.'
In addition, the Ordi-
nance provides for secu-
rity of the bonds, terms,
details and conditions
for the issuance of the
bonds and the rate
covenants for the bonds.
The complete text of this',
ordinance may be ob-
tained or viewed free of
charge at the office of,
the City Clerk, 300 West
Ash Street, Salina, Kan-
sas, or on the City's offi-
cial website address,
wvfv.salina-ks.gov,
Where a reproduction of
the original ordinance
will be available for a
i minimum of one week
following this summary
! publication.
This summary is certi-
fied this 6th day of July,
2015.
/s/ Greg A. Bengtson
City Attorney
(1t)
PUBLICATION SUMMARY OF ORDINANCE NO. 15-10783, PASSED BY THE GOVERNING BODY
OF THE CITY OF SALINA, KANSAS ON THE 6h' DAY OF JULY, 2015
N SUMMARY
i
W On July 6, 2015, the Governing Body of the City of Salina, Kansas, adopted Ordinance No. 15-10783,
2 authorizing and providing for the issuance of $6,825,000 principal amount of General Obligation Refunding
and Internal Improvement Bonds, Series 2015-A, of the City of Salina, Kansas. The purpose of the issuance
of the bonds is to provide funds to finance certain public improvements in the City, refund a portion of
previously issued general obligation bonds of the City, and retire a portion of previously issued temporary
notes of the City. In addition, the Ordinance provides for security of the bonds, terms, details and conditions
for the issuance of the bonds and the rate covenants for the bonds. The complete text of this ordinance may
be obtained or viewed free of charge at the office of the City Clerk, 300 West Ash Street, Salina, Kansas, or
on the City's official website address, www.salina-ks.gov, where a reproduction of the original ordinance will
be available for a minimum of one week following this summary publication.
is,� mary i�*rtified this 1 day of July, 2015.
I A. "Seng
Attorney,
ish one time and return one Proof of Publication to the City Clerk and one to the City Attorney.
1