18-10976 Issuance of GO Internal Improvement Bonds, Series 2018-A Li
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ORDINANCE NO. 18-10976
OF
THE CITY OF SALINA, KANSAS
PASSED
NOVEMBER 5,2018
GENERAL OBLIGATION INTERNAL IMPROVEMENT BONDS
SERIES 2018-A
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ORDINANCE NO. 18-10976
AN ORDINANCE AUTHORIZING AND PROVIDING FOR THE ISSUANCE OF
GENERAL OBLIGATION INTERNAL IMPROVEMENT BONDS, SERIES 2018-A,
OF THE CITY OF SALINA, KANSAS; PROVIDING FOR THE LEVY AND
z 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. 12-685 et seq. and K.S.A. 12-6a01 et seq., 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:
Improvement
Project Description Resolution No. Authority Fund Deposit
Grand Prairie Addition Phase II Res. 16-7394 K.S.A. 12-6a01 et seq. $305,058.35
River Trail Second Addition Res. 16-7365 K.S.A. 12-6a01 et seq. 753,728.34
Beechcraft Road Res. 17-7470 K.S.A. 12-685 et seq. 1,062.638.85
Total: 52,121,425.54
Improvement Fund deposit from bond proceeds; excludes costs of issuance and underwriter's discount.
: 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. 10-620 et seq., K.S.A. 12-685 et seq. and K.S.A. 12-6a01 et seq., and 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.
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"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 2018-A, dated
November 27, 2018, 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
Y appointed Deputy or Acting Clerk.
"Finance Director" means the duly appointed and/or elected Finance Director or, in the Finance
Director's absence, the duly appointed Deputy Finance Director or Acting Finance Director of the Issuer.
"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 a portion of the Series 2018-1 Notes maturing on December 1, 2018.
111 "Series 2018-1 Notes" means the City's General Obligation Temporary Notes, Series 2018-1, dated
Jul-30, 2018, in the aggregate principal amount of S6.000,000.
"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 2018-A, of the City in the
principal amount of 52,090,000 for the purpose of providing funds to: (a) pay a portion of the costs of the
Improvements; (b) retire a portion of the Refunded Notes; and (c) pay the 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
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
_11to the provisions, covenants and agreements set forth in the Bond Resolution hereafter adopted by the
overninbody of the Ci
gg ty.
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 (or a summary thereof) in
the official City newspaper.
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PASSED by the governing body of the City on November 5, 2018 and APPROVED AND SIGNED
by the Mayor.
(SEAL) c,kr.„.9,77
Karl F. Ryan, Mayor
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ATTEST:
Shandi Wicks, CMC, City Clerk
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(Signature Page to Bond Ordinance)
1 PUBLICATION SUMMARY OF ORDINANCE NO. 18-10976, PASSED BY THE GOVERNING BODY
OF THE CITY OF SALINA, KANSAS ON THE 5th DAY OF NOVEMBER, 2018
SUMMARY
Q. On November 5, 2018, the Governing. Body of the City of Salina, Kansas, adopted Ordinance No. 18-10976,
N authorizing and providing for the issuance of$2,090,000 principal amount of General Obligation Internal
E Improvement Bonds, Series 2018-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 and refund a portion of certain
outstanding general obligation notes. In addition, the Ordinance provides for security of the bonds, terms,
and details and conditions for the issuance of 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, w'nv.salina-ks.gov, where a reproduction of the original ordinance will be available
for a minimum of one week following this summary publication.
This mary is certified this Jik day of November, 2018.
r Act n
C Attorne -
Publish one time and return one Proof of Publication to the City Clerk and one to the City Attorney.
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