14-10737 Authorizing the Issuance of GO Internal Imp. Bonds, Series 2014-AORDINANCE NO. 14-10737
THE CITY OF SALINA, KANSAS
PASSED
JULY 14, 2014
GENERAL OBLIGATION INTERNAL IMPROVEMENT BONDS
SERIES 2014-A
(PUBLISHED IN THE SALINA JOURNAL ON JULY 18, 2014)
ORDINANCE NO. 14-10737
AN ORDINANCE AUTHORIZING AND PROVIDING FOR THE ISSUANCE OF
GENERAL OBLIGATION INTERNAL IMPROVEMENT BONDS, SERIES 2014-
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., K.S.A. 12-685 et seq. and 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:
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 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. 12-6a01 et seq., K.S.A. 12-685 et seq. and K.S.A. 12-2101 et seq., all as amended and
supplemented from time to time.
Ordinance/
Allocable Principal
Project Description
Resolution No.
Authority
Amount of Bonds
Pheasant Ridge No. 2
Ord. 13-10687
K.S.A. 12-6a01 et seq.
$211,507.99
Quail Meadows Phase V
Res. 09-6681
K.S.A. 12-6a01 et seq.
379,431.92
Downtown Street Lighting
Res. 13-6987
K.S.A. 12-685 et seq.
4,094,060.09
Ninth and Cloud Improvements
Res. 13-7007
K.S.A. 12-685 et seq.
680,000.00
Landfill Cell
Res. 14-7089
K.S.A. 12-2101 et seq.
2,205,000.00
Total.
$7,570,000.00
and
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 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. 12-6a01 et seq., K.S.A. 12-685 et seq. and 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.
"Bonds" means the City's General Obligation Intemal Improvement Bonds, Series 2014-A, dated
July 30, 2014, 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 Notes" means the Series 2013-1 Notes maturing on August 1, 2014 in the aggregate
principal amount of $3,800,000.
"Series 2013-1 Notes" means the City's General Obligation Temporary Notes, Series 2013-1,
dated July 15, 2013.
"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 Bonds, Series 2014-A, of the City in
the principal amount of $7,570,000, 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 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
2
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.
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PASSED by the governing body of the City on July 14, 2014 and APPROVED AND SIGNED
by the Mayor.
(SEAL)
Mayor
ATTEST:
(Signature Page to Bond Ordinance)