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22-11102 GO Bonds Series 2022-A,. 111111 ORDINANCE NO. 22-11102 OF THE CITY OF SALINA, KANSAS PASSED r APRIL 4, 2022 ~ GENERAL OBLIGATION INTERNAL IMPROVEMENT BONDS SERIES 2022-A r 1111 .... .. ,... "' "' z a. w "' .s Iii (/) ~ :<2 g c: 0 () ORDINANCE NO. 22-11102 AN ORDINANCE AUTHORIZING AND PROVIDING FOR THE ISSUANCE OF GENERAL OBLIGATION INTERNAL IMPROVEMENT BONDS, SERIES 2022-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 the Constitution and laws of the State of Kansas , by proceedings duly had , the City Commission of the City (the "Governing Body") has authorized the following improvements (the "Improvements") to be made in the City, to-wit: Project Description North 9111 Street Bridge Smoky Hill River Renewal Automated Sanitation Trucks Great Plains Manufacturing Center Convention Hall HV AC Tony's Pizza Event Center Magnolia Hills Estates No. 2 Stone Lake Phase 3a Magnolia Hills Estates No. 2 -Markley Road Trail Total: Ord./Res. No. Ord. 02-10071 ; Res No. 19- 7677 Ord . 17-10885 Res. 20-7818 Res. 21-7931 Res . 19-7760 Res. 19-7751 Res . 21-7957 Authority (KS.A.) K.S .A. 12-685 et seq. Kan. Const. Article 12, §5 K.S.A. 12-2104 K.S.A. 12-1736 et seq. K.S.A. 12-6a01 et seq. K.S.A. 12-6a01 et seq. K.S.A. 12-6a01 et seq. Allocable Principal Amount of Bonds $1,935,000 1,680,000 1,610,000 165 ,000 1,530 ,000 1,250 ,000 25,000 $8,195,000 WHEREAS, the Governing Body 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 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. 1 ,.. .. ... ,.. .. "Act" means the Constitution, particularly Article 12, § 5 thereof, 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., K.S.A. 12-1736 et seq., K.S .A. 12-6a01 et seq., and K.S.A. 12-2104 , 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 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 2022-A, dated April 28, 2022, 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. "Director of Finance" means the duly appointed and /or elected Director of Finance or, in the Director of Finance 's absence, the duly appointed Deputy Director of Finance or Acting Director of Finance 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 the Series 2021-1 Notes. "Series 2021-1 Notes" means the City's General Obligation Temporary Notes , Series 2021-1 , dated April 29 , 2021, in the aggregate principal amount of $5 ,230 ,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 2022-A, of the City in the principal amount of $8,195 ,000* for the purpose of providing funds to: (a) pay a portion of the costs of the Improvements, including retiring the Refunded Notes; and (b) 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 2 II .. 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. Section 5. Levy and Collection of Annual Tax. The Governing Body 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 for the Bonds. 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 City 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, Director of Finance, 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, and publication of the Ordinance (or a summary thereof) in the official City newspaper. [BALANCE OF THIS PAGE INTENTIONALLY LEFT BLANK] 3 PASSED by the Governing Body on April 4, 2022 and SIGNED by the Mayor. "' (SEAL) "' z 0.. Trent W. Davis, M.D., Mayor w "' <:; ATTEST: «i en ~ "!2 0 "' c: 0 () JoVonnaA (PUBLISHED IN THE SALINA JOURNAL ON APRIL 8, 2022) SUMMARY OF ORDINANCE NO. 22-11102 On April 4, 2022, the governing body of the City of Salina, Kansas passed an ordinance entitled: AN ORDINANCE AUTHORIZING AND PROVIDING FOR THE ISSUANCE OF GENERAL OBLIGATION INTERNAL IMPROVEMENT BONDS, SERIES 2022-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. The Series 2022-A Bonds approved by the Ordinance are being issued to pay a portion of the costs of certain public improvements and to refund previously issued general obligation notes of the City, and constitute general obligations of the City payable as to both principal and interest, to the extent necessary, 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. A complete text of the Ordinance may be obtained or viewed free of charge at the office of the City Clerk, 300 West Ash Street, Salina, Kansas 67402. A reproduction of the Ordinance is available for not less than 7 days following the publication date of this Summary at www.salina-ks.gov. This Summary is hereby certified to be legally accurate and sufficient pursuant to the laws of the State of Kansas . DATED: April 8, 2022. 600596.20227\BAS IC DOCS