16-10839 Authorizing the Issuance of BondsORDINANCE NO. 16-10839
OF
THE CITY OF SALINA, KANSAS
PASSED
JULY 11, 2016
GENERAL OBLIGATION REFUNDING BONDS
SERIES 2016-B
ORDINANCE NO. 16-10839
AN ORDINANCE AUTHORIZING AND PROVIDING FOR THE ISSUANCE OF
GENERAL OBLIGATION REFUNDING BONDS, SERIES 2016-B, OF THE CITY
OF SALINA, KANSAS FOR THE PURPOSE OF PROVIDING FUNDS TO
REFUND A PORTION OF THE CITY'S OUTSTANDING GENERAL
OBLIGATION BONDS; 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, 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. and K.S.A. 10-620 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 Bonds, Series 2016-B, dated July 26,
2016, 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.
"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 collectively: (a) the Series 2006-B Bonds maturing in the year 2021
in the aggregate principal amount of $185,000; (b) the Series 2007-A Bonds maturing in the years 2018 to
2027, inclusive, in the aggregate principal amount of $2,925,000; (c) the Series 2008-A Bonds maturing
in the years 2018 to 2023, inclusive, in the aggregate principal amount of $1,500,000; (d) the Series 2009-
A Bonds maturing in the years 2021 to 2029, inclusive, in the aggregate principal amount of $4,425,000;
(e) the Series 2010-A Bonds maturing in the years 2021 to 2025 inclusive, in the aggregate principal
amount of $1,825,000; and (f) the Series 2011-A Bonds maturing in the years 2022 to 2031, inclusive, in
the aggregate principal amount of $3,275,000.
"Refunded Bonds Redemption Date" means (a) October 1, 2016, for the Series 2006-B
Refunded Bonds; (b) October 1, 2017 for the Series 2007-A Refunded Bonds and the Series 2008-A
Refunded Bonds; and (c) October 1, 2018 for the Series 2009-A Refunded Bonds, the Series 2010-A
Refunded Bonds and the Series 2011-A Refunded Bonds.
"Series 2006-B Bonds" means the City's General Obligation Internal Improvement Bonds, Series
2006-13, dated July 15, 2006.
"Series 2007-A Bonds" means the City's General Obligation Internal Improvement Bonds, Series
2007-A, dated June 15, 2007.
"Series 2008-A Bonds" means the City's General Obligation Internal Improvement Bonds, Series
2008-A, dated July 15, 2008.
"Series 2009-A Bonds" means the City's General Obligation Internal Improvement Bonds, Series
2009-A, dated July 15, 2009.
"Series 2010-A Bonds" means the City's General Obligation Internal Improvement and
Refunding Bonds, Series 2010-A, dated May 1, 2010.
"Series 2011-A Bonds" means the City's General Obligation Internal Improvement Bonds, Series
2011-A, dated July 15, 2011.
"State" means the State of Kansas.
Section 2. Authorization of the Bonds. There shall be issued and hereby are authorized and
directed to be issued the General Obligation Refunding Bonds, Series 2016-B, of the City in the principal
amount of $13,750,000, for the purpose of providing funds to: (a) refund the Refunded Bonds; and (b)
pay costs of issuance of the Bonds.
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
2
construction of the improvements financed by the Refunded Bonds 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 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]
ED by the governing body of the City on July 11, 2016 and APPROVED AND SIGNED
by c,`� .
(SEAL) 8743
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V. �i�-Mayor , L-A a 'q6
(Signature Page to Bond Ordinance — Series 2016-B Bonds)