04-6067 Sale GO Refunding BondsRESOLUTION NO. 04-6067
RESOLUTION AUTHORIZING THE OFFERING FOR SALE OF
GENERAL OBLIGATION REFUNDING BONDS OF THE CITY OF
SALINA, KANSAS.
WHEREAS, the governing body of the City of Salina, Kansas (the "City") has determined that it is
desirable and in the best financial interest of the City to refund the following general obligation internal
improvement bonds of the City (the "Refunded Bonds"):
WHEREAS, the City desires to authorize the Mayor, Finance Director, City Clerk and other officials of
the City to cause notice of the call for redemption and payment of the Refunded Bonds to be given in the
manner provided in the ordinances and resolutions authorizing the issuance of the Refunded Bonds and by
Kansas law; and
WHEREAS, the City has selected the firm of George K. Baum & Company, Kansas City, Missouri
(the "Purchaser"), as underwriter for approximately $5,605,000 principal amount of bonds of the City to be
designated "General Obligation Refunding Bonds, Series 2004-A" (the 'Bonds") to be issued for the purpose of
refunding the Refunded Bonds and paying the costs of issuing the Bonds; and
WHEREAS, the City desires to authorize the Purchaser to proceed with the offering for sale of the
Bonds; and
WHEREAS, one of the duties and responsibilities of the Purchaser is to prepare and distribute a
Preliminary Official Statement and a final Official Statement relating to the Bonds; and
WHEREAS, the City desires to authorize the Purchaser to proceed with the preparation and
distribution of the Preliminary Official Statement and the final Official Statement relating to the Bonds;
NOW, THEREFORE, BE IT RESOLVED BY THE GOVERNING BODY OF THE CITY OF
SALINA, KANSAS, AS FOLLOWS:
Section 1. The Purchaser is hereby authorized to proceed with the offering for sale of approximately
$5,605,000 principal amount of General Obligation Refunding Bonds, Series 2004-A for the purpose of
refunding the Refunded Bonds, to be described in the Preliminary Official Statement.
Section 2. The Mayor, Finance Director and City Clerk are authorized to arrange for the preparation of
a Preliminary Official Statement. For the purpose of enabling the purchaser of the Bonds to comply with the
requirements of Rule 15c2 -12(b)(1) of the Securities and Exchange Commission, the City hereby authorizes the
Finance Director, upon completion of the Preliminary Official Statement to his satisfaction, to provide the
purchaser with a letter or certification to the effect that the City deems the information contained in the
Preliminary Official Statement to be "final" as of its date, except for the omission of such information as is
permitted by Rule 15c2 -12(b)(1), and to take such other actions or execute such other documents as such
officers in their reasonable judgment deem necessary to enable the purchaser to comply with the requirements
of such Rule. The Governing Body hereby consents to the use and public distribution by the Purchaser of the
Preliminary Official Statement and the final Official Statement in connection with the offering for sale of the
Bonds.
Section 3. The City agrees to provide to the Purchaser within seven business days of the date of the
purchase contract for the Bonds or within sufficient time to accompany any confirmation that requests payment
from any customer of the Purchaser, whichever is earlier, sufficient copies of the final Official Statement to
enable the Purchaser to comply with the requirements of Rule 15c2 -12(b)(4) of the Securities and Exchange
Commission and with the requirements of Rule G-32 of the Municipal Securities Rulemaking Board.
Section 4. The Mayor, Finance Director, City Clerk and other officers and representatives of the City
are hereby authorized and directed to take such other action as may be necessary to carry out the offering for
sale of the Bonds.
Section 5. The Mayor, Finance Director, City Clerk, and other officials of the City are hereby
authorized to cause notice of the call for redemption and payment of the Refunded Bonds to be given in the
Principal
Amount
Maturities
Series
Refunded
Refunded
1995-A
$480,000
08-01-04 through 08-01-05
1996-A
555,000
08-01-04 through 08-01-06
1997-A
495,000
08-01-05 through 08-01-07
1998-A
1,730,000
08-01-06 through 08-01-13
1999-A
1,055,000
10-01-09 through 10-01-14
2000-A
905,000
10-01-10 through 10-01-15
WHEREAS, the City desires to authorize the Mayor, Finance Director, City Clerk and other officials of
the City to cause notice of the call for redemption and payment of the Refunded Bonds to be given in the
manner provided in the ordinances and resolutions authorizing the issuance of the Refunded Bonds and by
Kansas law; and
WHEREAS, the City has selected the firm of George K. Baum & Company, Kansas City, Missouri
(the "Purchaser"), as underwriter for approximately $5,605,000 principal amount of bonds of the City to be
designated "General Obligation Refunding Bonds, Series 2004-A" (the 'Bonds") to be issued for the purpose of
refunding the Refunded Bonds and paying the costs of issuing the Bonds; and
WHEREAS, the City desires to authorize the Purchaser to proceed with the offering for sale of the
Bonds; and
WHEREAS, one of the duties and responsibilities of the Purchaser is to prepare and distribute a
Preliminary Official Statement and a final Official Statement relating to the Bonds; and
WHEREAS, the City desires to authorize the Purchaser to proceed with the preparation and
distribution of the Preliminary Official Statement and the final Official Statement relating to the Bonds;
NOW, THEREFORE, BE IT RESOLVED BY THE GOVERNING BODY OF THE CITY OF
SALINA, KANSAS, AS FOLLOWS:
Section 1. The Purchaser is hereby authorized to proceed with the offering for sale of approximately
$5,605,000 principal amount of General Obligation Refunding Bonds, Series 2004-A for the purpose of
refunding the Refunded Bonds, to be described in the Preliminary Official Statement.
Section 2. The Mayor, Finance Director and City Clerk are authorized to arrange for the preparation of
a Preliminary Official Statement. For the purpose of enabling the purchaser of the Bonds to comply with the
requirements of Rule 15c2 -12(b)(1) of the Securities and Exchange Commission, the City hereby authorizes the
Finance Director, upon completion of the Preliminary Official Statement to his satisfaction, to provide the
purchaser with a letter or certification to the effect that the City deems the information contained in the
Preliminary Official Statement to be "final" as of its date, except for the omission of such information as is
permitted by Rule 15c2 -12(b)(1), and to take such other actions or execute such other documents as such
officers in their reasonable judgment deem necessary to enable the purchaser to comply with the requirements
of such Rule. The Governing Body hereby consents to the use and public distribution by the Purchaser of the
Preliminary Official Statement and the final Official Statement in connection with the offering for sale of the
Bonds.
Section 3. The City agrees to provide to the Purchaser within seven business days of the date of the
purchase contract for the Bonds or within sufficient time to accompany any confirmation that requests payment
from any customer of the Purchaser, whichever is earlier, sufficient copies of the final Official Statement to
enable the Purchaser to comply with the requirements of Rule 15c2 -12(b)(4) of the Securities and Exchange
Commission and with the requirements of Rule G-32 of the Municipal Securities Rulemaking Board.
Section 4. The Mayor, Finance Director, City Clerk and other officers and representatives of the City
are hereby authorized and directed to take such other action as may be necessary to carry out the offering for
sale of the Bonds.
Section 5. The Mayor, Finance Director, City Clerk, and other officials of the City are hereby
authorized to cause notice of the call for redemption and payment of the Refunded Bonds to be given in the
manner provided in the ordinances and resolutions authorizing the issuance of the Refunding Bonds and by
Kansas law.
Section 6. The officers and representatives of the City are hereby authorized and directed to take such
action as may be necessary, after consultation with the Purchaser and Bond Counsel, to subscribe for the United
States Treasury Securities to be purchased and deposited in the escrow for the Refunded Bonds.
Section 7. Prior to the sale of the Bonds, the Finance Director may remove one or more series of the
Refunded Bonds, or portions thereof, from the refunding if he determines, based on information provided by
the Purchaser, that the estimated present value savings to be generated from the refunding of the Refunded
Bonds do not justify the refunding at that time.
Section 8. This Resolution shall be in full force and effect from and after its passage by the Governing
E.
PASSED by the Governing Body this 5th day of April, 2004.
(SEAL)
lan E. Jilka, Ma r
ATTEST:
Lieu Ann Elsey, City Clerk
-2-