96-5004 Auth Bond Saleconsouaai.es,imx
RESOLUTION NO. 96-5004
RESOLUTION AUTHORIZING THE PUBLIC SALE OF $1,847,000 PRINCIPAL
AMOUNT OF GENERAL OBLIGATION INTERNAL IMPROVEMENT BONDS,
SERIES 1996-A OF THE CITY OF SALINA, KANSAS.
BE IT RESOLVED BY THE GOVERNING BODY OF THE CITY OF SALINA, KANSAS, AS
FOLLOWS:
Section 1. The General Obligation Internal Improvement Bonds, Series 1996-A of the City of
Salina, Kansas (the "Issuer"), in the principal amount of $1,847,000, as described in the Notice of Bond
Sale and Preliminary Official Statement presented to the meeting of the governing body at which this
resolution was adopted (the "Bonds"), shall be offered at competitive public sale with sealed bids on May
6, 1996, at 2:00 p.m, local time.
Section 2. The City Clerk is hereby authorized and directed to receive sealed bids for the
purchase of the Bonds on behalf of the Issuer at said time and place and to deliver all bids so received
to the governing body at its meeting to be held at 4:00 p.m. on such date, at which meeting the governing
body shall review such bids and act on the acceptance of the best bid.
Section 3. The Preliminary Official Statement, dated April 15, 1996, is hereby approved and
"deemed final" except for the omission of certain information as provided in the Securities and Exchange
Commission Rule 15c2-12, and the City Clerk is hereby authorized to use such document in connection
with the public sale of the Bonds.
Section 4. The City Clerk and George K. Baum & Company, the City's Financial Advisor, are
hereby authorized and directed to give notice of said bond sale by publishing a notice of the bond sale
or summary thereof not less than 6 days before the date of the bond sale in the official City newspaper
and the Kansas Register and by mailing copies of the Notice of Bond Sale and Preliminary Official
Statement to prospective purchasers of the Bonds.
Section 5. The City Clerk and the other officers and representatives of the Issuer are hereby
authorized and directed to take such other action as may be necessary to carry out the public sale of the
Bonds. George K. Baum & Company is hereby authorized to submit a bid for or participate in a
syndicate bidding for the Bonds.
Section 6. Redemption of Temporary Notes. The redemption on June 6, 1996, of the following
temporary notes issued to finance the project pending the issuance of the Bonds is hereby authorized:
Maturity
Series Name Amount Dated Date Dae Holder
1994-5 $520,000 11/01/94 06/30/96 United Missouri Bank, N.A.
Kansas City, Missouri
The City Clerk is hereby authorized and directed to give notice of redemption of such notes in
accordance with the resolutions issuing such notes, such redemption notice being in substantially the form
attached hereto as Exhibit "A".
Section 7. Among the improvements to be financed with the Bonds is the Ninth and Broadway
Corridor Improvements, Project Number 96-4988, which will involve the issuance of Bonds pursuant to
K.S.A 12-685 g1 IM. The City has made and expects to make capital expenditures after the date of this
Resolution in connection with said project and intends to reimburse itself for such expenditures with the
proceeds of the Bonds. The portion of the Bonds attributable to said project is not expected to exceed
$1,220,000. The City will not reimburse itself for any expenditures made more than 60 days before the
date hereof except for preliminary expenditures, if any, not exceeding $244,000 for architectural,
engineering, surveying, soil testing and similar costs incurred prior to commencement of construction.
Preliminary expenditures do not include land acquisition, site preparation or similar costs incident to the
commencement of construction.
Section 8. This Resolution shall be in full force and effect from and after its adoption.
ADOPTED by the governing body on April 15, 1996.
(SEAL)
)
Mayor
ATTEST:
OWN
-2-
C -olid t,d S,1
EXHIBIT A
CENTSEC
c/o United Missouri Bank, N.A.
1010 Grand Avenue
Kansas City, Missouri 64106
As the owner of the Municipal Temporary Note, Series 1994-5, of the City of Salina, Kansas
"City"), maturing June 30, 1996, and in the total aggregate principal amount of $520,000 (the "Not
you are hereby notified that the Note has been called for redemption and payment in full on June 6, 1
(the "Redemption Date"), at a redemption price equal to the principal amount thereof, plus acct
interest to the Redemption Date, without premium.
On the Redemption Date, the Note will be due and payable at the office of the Treasurer of
City. From and after the Redemption Date, all interest on the note will cease to accrue.
Dated: April 16, 1996.
cc: Machell Kent at
State Treasurer's Office
CITY OF SALINA, KANSAS
IM
City Clerk