80-8786 IRB Yellow Van1
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• . -M..W 11_' j ,. Ia '.► I
ORDINANCE NO. 80-8786
OF THE
CITY OF SALINA, KANSAS
AUTHORIZING THE ISSUANCE OF
$400,000 INDUSTRIAL REVENUE BONDS
(YELLOW VAN MOVERS, INC.)
SERIES 1980-
DATED
980_
DATED
1980
lished in The Salina Journal,
1980)
ORDINANCE NO. 80-8786
AN ORDINANCE AUTHORIZING THE CITY OF SALINA,
KANSAS, TO ACQUIRE THE REAL PROPERTY HERE-
INAFTER DESCRIBED AND TO ACQUIRE, PURCHASE,
CONSTRUCT AND EQUIP CERTAIN BUILDINGS,
IMPROVEMENTS, MACHINERY, AND EQUIPMENT
LOCATED AND TO BE LOCATED THEREON TO BE
LEASED TO YELLOW VAN MOVERS, INC., FOR
INDUSTRIAL PURPOSES; AUTHORIZING AND
DIRECTING THE ISSUANCE OF $400,000 PRINCIPAL
AMOUNT OF YELLOW VAN MOVERS, INC. INDUSTRIAL
REVENUE BONDS, SERIES 1980, OF SAID CITY FOR
THE PURPOSE OF PROVIDING FUNDS TO PAY THE
COST OF ACQUIRING, PURCHASING, CONSTRUCTING AND
EQUIPPING CERTAIN BUILDINGS, IMPROVEMENTS,
MACHINERY AND EQUIPMENT TO BE LEASED TO
YELLOW VAN MOVERS, INC., FOR INDUSTRIAL PURPOSES;
PRESCRIBING THE FORM AND AUTHORIZING THE EXE-
CUTION OF A LEASE BY AND BETWEEN SAID CITY
AND PRESCRIBING THE FORM AND REQUIRING THE
EXECUTION OF A SEPARATE GUARANTY AGREEMENT
BY YELLOW VAN MOVERS, INC.
WHEREAS, the City of Salina, Kansas, a city of the first
lass, (the "City"), desires to promote, stimulate and develop
he general economic welfare and prosperity of the City and
is environs and thereby to further promote, stimulate and
evelop the general economic welfare and prosperity of the State
f Kansas; and
WHEREAS, pursuant to the provisions of K.S.A. 12-1740 to
2-1749a, as amended (the "Act"), said City is authorized to
ssue Industrial Revenue Bonds -of the City, and it is hereby
ound and determined to be advisable and in the interest and
or the welfare of the City and its inhabitants that Industrial
evenue Bonds of the City in the principal amount of $400,000
e authorized and issued, for the purpose of providing funds
o pay the cost of acquiring the real property hereinafter
described and of purchasing and improving certain buildings
d improvements, all of said property to be leased to Yellow
Iflan Movers, Inc., a Kansas corporation (the "Tenant"); and
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WHEREAS, the Tenant desires to finance the cost of acquiring
d improving said property out of the proceeds of Industrial
venue Bonds to be issued by the City pursuant to the Act,
d is willing to lease the real property hereinafter described
together with the improvements located thereon for said purposes,
d to enter into a Guaranty Agreement with respect to said
dustrial Revenue Bonds; and
WHEREAS, the City will acquire the real property hereinafter
scribed, together with the existing improvements located
reon prior to or concurrently with the issuance of the
ustrial Revenue Bonds herein authorized; and
WHEREAS, the City and Tenant desire to reserve the right
finance the purchase, construction and equipping of additional
ildings and improvements on said real property out of the
roceeds of other Industrial Revenue Bonds issued pursuant
the provisions of this Ordinance or out of other funds
btained by the Tenant for said purpose.
NOW, THEREFORE, BE IT ORDAINED BY THE GOVERNING BODY OF
E CITY OF SALINA, KANSAS:
SECTION 1. Authority to Acquire, Purchase, Construct
d Equip the Facility. The City is hereby authorized to acquire
e real property described in paragraph (a) of Schedule 1
attached to this Ordinance and made a part hereof, together
ith the buildings, improvements and equipment described in
paragraph (b) of Schedule 1 which paragraph (b) is on file with
e City Clerk, and to improve said buildings and improvements,.
11 of the_ property, both real. and. personal, described in para-
raph-s Ca) and (.)b.) of Schedule 1 being sometimes hereinafter
eierred to as the "Facility", in accordance with -the provisions
ntained herein and in the. Lease dated as of April 1, 1980,
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b tween said City and the Tenant, (the "Lease"), whish Lease
A authorized by Section 29 of this Ordinance, all at a cost
tp be paid by the City from the proceeds of the Industrial
4 venue Bonds herein authorized not in excess of $400,000.
SECTION 2. Authorization of and Security for the Bonds.
r the purpose of providing funds to pay the cost of acquiring,
purchasing, constructing and equipping the Facility, there
,all be issued and hereby are authorized and directed to.be
sued a series of bonds of the City, designated as Yellow Van
vers, Inc. Industrial Revenue Bonds, Series 1980 in the prin-
pal amount of $400,000 (the "Bonds"). The Bonds and all
terest thereon shall be paid solely from the money and revenue
r�ceived from the fees charged and rental received for the
e of the Facility and not from any other fund or source
(�xcept to the extent paid out of the moneys attributable
Bond proceeds or the income from the temporary investment
ereof and, under certain circumstances as hereinafter and
i# the Lease provided, proceeds of insurance, sale and condemna-
on awards) and the City hereby pledges the Facility and the
earnings therefrom to the payment of the Bonds and the
terest thereon.
SECTION 3. Description and Details of the Bonds, Designa-
on of Paying Agent. The Bonds shall be dated April 1, 1980,
a d each of said Bonds shall be coupon bonds, numbered from
1 to 80, inclusive. The Bonds shall be in denominations of
$0,000 as set forth below. Each of said Bonds shall mature
bear interest from date at the respective rates as follows:
nd Nos. Amount
1-2
$10,000
3-5
15,000
6-8
15,000
9-11
15,000
2-15
20,000
6-19
20,000
0-24
25,000
5-29
25,000
Interest Rate
Maturity Date,
Per Annum
April 1:
9%
1981
9%
1982
9%
1983
90
1984
9%
1985
9 1/4%
1986
9 1/4%
1987
9 1/4%
1968
0-35 30,000 9 1/4% 1989
6-41 30,000 9 1/4% 1990
2-48 35,000 9 1/2% 1991
9-55 35,000 9 1/20 1992
6-63 40,000 9 1/2% 1993
4-71 40,000 9 1/20 1994
2-80 45,000 9 1/2% 1995
The Bonds shall bear interest from their date. Interest
the Bonds shall be payable semi-annually on April 1 and
tober 1 in each year, commencing October 1, 1980.
The Bonds and the interest thereon shall be payable to
arer in lawful money of the United States of America upon
esentation and surrender of such Bonds or interest coupons
they respectively become due at Highland Park Bank and Trust,
the City of Topeka, Kansas, and The National Bank of America
Salina, in the City of Salina, Kansas, each bank being
reby designated as the City's paying agent for the payment -
the principal of and interest on the Bonds herein authorized
d sometimes referred to herein individually and collectively
as the "Paying.Agent".
The Bonds shall be subject to redemption and payment
for to the stated maturity thereof only as provided in Section
of this Ordinance.
SECTION 4. Redemption and Payment of Bonds Prior to
turity. The Bonds shall be subject to redemption and payment
for to the stated maturity thereof, after the notice specified
Section 5 hereof, as follows:
(a) Each of the Bonds shall be subject to redemption and
payment at the option of the City upon instructions from the
pant at any time upon the occurrence of any of the following
nditions or events, provided all of said Bonds are so redeemed
d paid according to their terms: (1) if title to or the per-
nent use or use for a limited period of substantially all
the Facility be condemned by any authority having the power
eminent domain; or (2) if substantially all of the Facility
damaged or destroyed by fire or other casualty; or (3) if as
result of any changes in the Constitution of the State
f any such redemption shall. also be given by registered or
ertified mail to the Paying Agent herein designated and to
:Original Underwriter of the Bonds - at least thirty 0301 days
f Kansas, or legislative or administrative action by the State
f Kansas or any political subdivision thereof, or by the United
tates, or by reason of action instituted in any court, the
ease shall become void or unenforceable or impossible of
erformance without unreasonable delay or in any other way by
eason of such change of circumstances, unreasonable burdens
r excessive liabilities shall have been imposed on the Tenant,
including without limitation Federal, state or other ad valorem,
roperty, income or other taxes not being imposed on the date
f the Lease. If called for redemption in any of such events,
he Bonds shall be subject to redemption at the principal amount
hereof, plus accrued interest thereon to the date fixed for
edemption and payment, together with.a premium of two percent
_21:) of the principal amount of the Bonds so called for redemption
nd payment.
(b) Each of said Bonds maturing on or after April 1, 1991,
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hall also be subject to redemption and payment at the option
f said City upon instructions from the Tenant, as a whole
r in part on April 1, 1990, or on any interest payment date
hereafter, at the par value thereof plus accrued interest
I.hereon to the date fixed for redemption and payment, plus a
remium of two percent (2%) of the principal amount of Bonds
alled for redemption and payment. Bonds to be redeemed and
aid pursuant to this paragraph shall be redeemed in inverse
umerical order.
SECTION 5. Notice- of Redemption. Notice of the call
or any redemption provided for by this Ordinance identifying
he Bonds to be redeemed shall be given by publication at least
nce in the official state paper of the State. of Kansas, not
�ess than thirty (30) days prior to the redemption date. Notice
f any such redemption shall. also be given by registered or
ertified mail to the Paying Agent herein designated and to
:Original Underwriter of the Bonds - at least thirty 0301 days
prior to the deed for redemption and payment. Notice
of any such recn shall also be given to any holders
of Bonds who hated their names on file with the Fiscal
Agent pursuant tion 26 hereof, upon mailing a copy of
the redemption in the manner hereinbefore specified
at least thirtydays prior to the date fixed for redemption
to the owner of3ond to be redeemed at the address shown
on the books maed by the Fiscal Agent; provided, however,
that failure tcsuch notice by mailing as aforesaid, or
any defect therhall not affect the validity of any pro-
ceedings for thnption of Bonds.
Interest sease on any of said Bonds so called for
redemption and t as of the redemption date, provided
funds are availn the hands of the Paying Agent to pay
the same in acce with their terms.
SECTION 6.)d of Execution and Authentication of
Bonds. The Bon each of them shall be executed for and
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on behalf of tYi by the facsimile signature of the Mayor,
attested by theile signature of the City Clerk and
the seal of sai shall be affixed thereto. Interest
coupons shall }ached to said Bonds representing the interest
to mature thered said interest coupons shall bear the
facsimile signabf said Mayor and City Clerk. The Bonds
and each of thel be registered in the office of the
City Clerk, whZ stration shall be evidenced by a nanually
executed certif6f registration on the reverse face of
each Bond.
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The Bonds hot be valid obligations under the pro-
visions of this-ince until authenticated by the Fiscal
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Agent by the exh of an appropriate certificate appearing
on each.such Bo
In the: eveher said Mayor or City Clerk or both of
said officers s?ase to hold such office before the bonds
d coupons, bearing their signatures shall have been issued and
livered, the bonds may be issued as though said officers had
t ceased to hold office and such signatures appearing on the
ndss, and coupons shall be valid and sufficient for all purposes
2. if they had remained in office until such issuance.
SECTION 7. Form of Bonds. The Bonds and the interest
upons attached thereto and the certificates relating thereto
11 be in substantially the following form:
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$5,000
UNITED STATES OF AMERICA
STATE OF KANSAS
COUNTY OF SALINE
CITY OF SALINA
YELLOW VAN MOVERS, INC. INDUSTRIAL REVENUE BOND,
SERIES 1980
KNOW ALL MEN BY THESE PRESENTS: That the City of Salina,
the County of Saline, State of Kansas, a municipal corporation,
or value received, hereby promises to pay the bearer hereof,
olely out of the revenues hereinafter referred to, the Sum
3
FIVE THOUSAND DOLLARS
n lawful money of the United States of America, on the first
ay of April, 19 except as the provisions hereinafter set
orth with respect to redemption prior to maturity may become
pplicable hereto, and to pay interest thereon from the date
ereof at the rate of nine and (9 %) percent
annum, payable semi-annually on April 1 and October l in
year, commencing October 1, 1980, until the said principal
shall have been paid, upon presentation and surrender
f the interest coupons hereto attached, bearing the facsimile
ignatures of the Mayor and City Clerk of said City, as said
upons severally become due.
Both principal of and interest on this Bond are payable
n lawful money of the United States of America at Highland
ark Bank & Trust, in the City of Topeka, Kansas, and The
ational Bank of America at Salina, in the City of Salina,
sas, hereinafter referred to as the "Paying Agent".
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This Bond is one of a series of 80 coupon Bonds aggregating
he principal amount of $400,000 issued by said City for the
urpose of providing funds to pay the cost of acquiring certain
eal property, buildings and improvements, as further described
n the Ordinance authorizing this Bond (the "Bond Ordinance")
nd in the Lease hereinafter and in the Bond Ordinance referred
To (the "Lease") and together constituting the "Facility" to
e leased to Yellow Van Movers, Inc., a Kansas corporation (the
Tenant"), pursuant to the Lease dated as of April 1, 1980, by
nd between said City and Tenant for industrial purposes by
he authority of and in conformity with the provisions, restric-
ions and limitations of the Constitution and statutes of the
tate of Kansas, including K.S.A. 12-1740 to 12-1749a, and
11 amendments thereof and acts supplemental thereto, and all
then provisions of the laws of said State applicable thereto.
This Bond and the interest thereon are payable solely
rom the money and revenue received from the fees charged and
ental received for the use of the Facility (except to the extent
id out of the moneys attributable to Bond proceeds or the
Income from the temporary investment thereof and, under certain
circumstances, proceeds of insurance, sale and condemnation
ards or payments received pursuant to the Guaranty Agreement
reinafter referred to) which.has been leased by the City to
e Tenant, pursuant to the Lease and not from any other fund
source. Pursuant to the provisions of said statute, the
verning body of the City has pledged the Facility and the
t earnings therefrom to the payment of the series of Bonds
cf which this Bond is a part and the interest thereon.
The Tenant has entered into separate Guaranty Agreement
th the Fiscal Agent whereby -it has unconditionally guaranteed,.
r the benefit of the holders of the S.onds of the series of
h. this Bond is one, .the fulland prompt payment of the principal
f and interest and redemption premium, if any, on each of said
onds when and as the same become due and payable in accordance
ith their terms.
This Bond does not constitute a debt of said City within
he meaning of any constitutional or statutory limitation.
Reference is hereby made to the Bond Ordinance and to the
se for a description of the covenants of the City with respect
the collection, segregation and application of the money
nd revenue received from the fees charged and rental received
or the use of the Facility, the rights, duties and obligations
f the City and the Tenant with.respect thereto, the right
f the City to issue additional Bonds and the rights of the
lders of this Bond.
Each of the bonds of the series of which --this Bond is one
s subject to redemption and payment at the option of the City
pon instructions from the Tenant, at any time, upon the oc-
urrence of any of the following conditions or events, provided
11 Bonds are so redeemed and paid according to their terms:
1) if title to, or the permanent use or use for a limited
eriod of, substantially all of the Facility (2) if substantially
11 of the Facility be damaged or destroyed by fire or other
asualty; or (3) if as a result of any changes in the Constitution
f the State of Kansas, or legislative or administrative action
y the State of Kansas, or any political subdivision thereof,
r by the United States,.or by reason of any action instituted
n any court, the Lease shall have become void or unenforceable
r impossible of performance without unreasonable delay, or
n any other gray, by reason of such change in circumstances,
nreasonable burdens or excessive liabilities shall have been
sed on Tenant, including without limitation_ Federal, state
other ad valorem, property, income or other taxes not being
sed on the date of the Lease. In any -of such events, the
onds shall be subject to redemption at one hundred (1000) percent
f the principal amount thereof, plus accrued interest to the
ate fixed for redemption and payment, together with.a premium
f two percent (2%) of the principal amount of the Bonds so
called for redemption and payment.
Each of the.Bonds of the series -of which.this Bond is one,
Maturing on or after April 1, 1991, is also subject to redemp-
ion and payment at the option of said City, upon instructions
rom the Tenant, as a whole or in part on April 1, 1990, or
n any interest payment date, thereafter, in inverse numerical
rder, at the principal amount thereof, plus accrued interest
hereon to the date fixed for redemption and payment, together
ith.a premium of two percent (2%1 of the principal amount of
onds called for redemption and payment.
All Bonds so called for redemption will cease to bear
interest on the specified redemption date provided funds for
heir redemption are on deposit with the Paying Agent prior
o the redemption date. Notice of the call for any redemption
rovided for by this Ordinance identifying the Bonds to be redeemed
hall be given by publication at least once in the official
tate paper of the State of Kansas not less than thirty (30)
ays prior to the redemption date. Notice of any such redemption
hall also b.e given by registered or certified mail to the
aying Agent herein described and to the Original Underwriter
f the Bonds at least thirty C30) days prior to the date fixed
or redemption and payment. Notice of any such redemption
all also be given to any holders of Bonds who have placed
eir names on file with -the Fiscal. Agent pursuant to the Bond
dinance, upon mailing a copy of the.redemption notice in the
hereinbefore specified at least thirty C301 days prior
the date fixed for redemption to the owner of each -Bond to
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be redeemed at the address shown on the books maintained by
the Fiscal Agent; provided, however, that failure to give such
notice by mailing as aforesaid, or any defect therein, shall
not affect the validity of any proceeds for the redemption of
Bonds.
This Bond shall not be valid or binding on said City until
this Bond shall have been authenticated by the execution of one of
the Fiscal Agent of the Certificate of Authentication hereon.
It is hereby declared and certified that all acts, conditions
and things required to be done, to have happened and to be
performed and to exist precedent to and in the issuance of this
Bond, and of the issue of which this Bond is one, have been
properly done and performed, and have happened and do exist
in_due and regular form and manner as required by the Constitu-
tion and laws of the State of Kansas.
IN WITNESS WHEREOF, the City of Salina, Kansas, has caused
this Bond to be signed by the facsimile signature of its Mayor,
attested by the facsimile signature of its City Clerk and its
corporate seal to be affixed hereto and the interest coupons
hereto attached to be signed with the facsimile signatures
of said officers and this Bond to be dated this first day of
April, 1980.
ttest:
(facsimile)
'ity Clerk
(facsimile)
Mayor
All coupons for 6 months
due April 1 and October 1
ing interest then due on its Yellow Van Movers, }
c. Industrial Revenue Bond, Series 1980, dated )
April 1, 1980, No. ) $
(facsimile) )
Mayor )
test: )
}
(facsimile) )
City Clerk )
CERTIFICATE OF AUTHENTICATION
This Bond is one of the Bonds described in the within
tioned Bond Ordinance.
Highland Park Bank & Trust
Topeka, Kansas
By:
Authorized Officer
ATE OF KANSAS )
) ss.
UNTY OF SALINE )
I, the undersigned, City Clerk of the City of Salina, Kansas,
reby certify that the within Yellow Van Movers, Inc. Industrial
venue Bond, Series 1980, of the City of Salina, Kansas,
s been duly registered in my office according to law.
WITNESS MY HAND and official seal this
City Clerk
(Seal)
On the first day of , 19 unless )
lave
,
e Bond to which this coupon is attached shall )
been called for redemption and payment duly )
11 19
de or provided for, the City of Salina, Kansas, )
ll pay bearer, solely from the money and revenue)
ceived for the use of the Facility described in )
City of Salina,
e Bond to which this coupon is attached, and )
Kansas
t from any other fund or source, the amount )
own hereon, in lawful money of the United States)
Yellow Van Movers,
dE
America at Highland Park Bank & Trust, in the )
Inc. Industrial
City
of Topeka, Kansas, and The National Bank of )
Revenue Bonds
erica at Salina, in the City of Salina, Kansas, )
Series 1980
ing interest then due on its Yellow Van Movers, }
c. Industrial Revenue Bond, Series 1980, dated )
April 1, 1980, No. ) $
(facsimile) )
Mayor )
test: )
}
(facsimile) )
City Clerk )
CERTIFICATE OF AUTHENTICATION
This Bond is one of the Bonds described in the within
tioned Bond Ordinance.
Highland Park Bank & Trust
Topeka, Kansas
By:
Authorized Officer
ATE OF KANSAS )
) ss.
UNTY OF SALINE )
I, the undersigned, City Clerk of the City of Salina, Kansas,
reby certify that the within Yellow Van Movers, Inc. Industrial
venue Bond, Series 1980, of the City of Salina, Kansas,
s been duly registered in my office according to law.
WITNESS MY HAND and official seal this
City Clerk
(Seal)
SECTION 8. Authentication, Execution and Delivery of the
S. The Mayor and City Clerk are hereby authorized and directed
prepare and execute the Bonds herein authorized, in the manner
reinbefore specified, and to obtain their authentication
Ily one of the Fiscal Agents. and to cause that Fiscal Agent
to deliver said Bonds to the purchasers thereof, on payment
the purchase price therefor. That Fiscal Agent shall authen-
Cate said Bonds in the principal amount of $400,000 and deliver
e same as provided above..
SECTION 9. Designation of Fiscal Agent, Creation of Acquisi-
ion Fund. Highland Park Bank & Trust, in the City of Topeka,
nsas, and The National Bank of America at Salina, in the City
f Salina, Kansas, are hereby designated as the City's Fiscal
ligents under the provisions of this Ordinance and of said Lease,
d the proceeds of the said Bonds shall be deposited with one
f the Fiscal Agents. There is hereby authorized and ordered
lo be established in the custody of said Fiscal Agent a separate
nd or account designated "City of Salina, Kansas, Yellow Van
vers, Inc., Acquisition Fund" (hereinafter referred to as
"Acquisition Fund"), which said Fiscal Agent shall hold
trust pursuant to the terms- hereof.
SECTION 1Q.. Disposition of Bond Proceeds. The Fiscal
t with whom funds are deposited pursuant to Section 9 above
1 first pay from the proceeds of the sale of said Bonds any
crue_d interest and any premium received therefrom together
th the. sum of $18,65Q to he used to pay interest on the Bonds
e October 1, 1980 into the "City of Salina, Kansas, Principal
d Interest Account for Industrial Revenue Bonds, Series 1980",
ereinafter created by Section 12 of this -Ordinance. The balance
f the proceeds of the sale of said Bonds shall be deposited in
he Acquisition Fund.
SECTION 11. Acquisition of Facility, Use of Acquisition
und. The Fiscal Agent referred to in Section 10 above shall
ake disbursements from the Acquisition Fund for the acquisition
f the Facility as provided in.the Lease.
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Any amount remaining in the Acquisition Fund after the
acility has been fully acquired and improved and paid for,
ien free, as provided in Section 4.10 of the Lease shall be
eposited by said Fiscal Agent in the Principal and Interest
ccount created by Section 12 of this Ordinance.
The City covenants and agrees that it will neither make
or permit either Fiscal Agent or the Tenant to make any use
f the proceeds of the Bonds which, if such use had been reason-
bly expected on the date of issuance of the Bonds, would have
aused the Bonds to be arbitrage bonds within the meaning of
ection 103(c) of the Internal Revenue Code of 1954, as amended,
nd the City will comply with, and will take all necessary
ction to cause the Fiscal Agents and the Tenant to comply
ith, all applicable requirements of said Section 103(c) and
he rules and regulations of the United States Treasury Depart-
ent thereunder for so long as any of the Bonds remain out-
anding and unpaid.
SECTION 12. Creation of Various Other Accounts. There
hereby authorized and ordered to be established in the
of one of the Fiscal Agents separate funds or accounts
be designated as follows:
(1) "City of Salina, Kansas, Principal and
Interest Account for Industrial Revenue Bonds,
Series 1980, dated April 1, 1980," herein some-
times referred to as the "Principal and Interest
Account"; and
(2) "The City of Salina, Kansas, Bond Reserve
Account for Industrial Revenue Bonds, Series 1980,
dated April 1, 1980," herein sometimes referred to
as the "Bond Reserve Account".
e City covenants and agrees that from and after the delivery
f any of the Revenue Bonds herein authorized and continuing
ED long as any of said Bonds shall remain_ outstanding, said
City will maintain said accounts with said Fiscal Agent. All
ineys due under the Lease shall be paid to and deposited with
aid Fiscal Agent and shall be applied and allocated by said
Fiscal Agent and shall be applied and allocated by said Fiscal
Agent and Trustee when received so long as any of the Bonds
rein authorized remain outstanding and unpaid, as follows:
(a) Basic Rent due under the Lease, shall be credited
lo and deposited in said Principal and Interest Account beginning
s of October 1, 1980. The'moneys in the Principal and Interest
count shall be used solely and only to pay interest and prin-
ipal on the Bonds when due or to retire all the Bonds prior to
riaturity when properly subject to call and when cash funds are
available to pay all outstanding Bonds in full plus interest and
11 premium, if any.
(b) There shall next be credited to and deposited in the
Bond Reserve Account monthly deposits, commencing at a time
hen the Principal and Interest Account has sufficient funds to
ay both the principal and interest on the Bonds becoming due
an the next Bond maturity date, until a total of $55,000 shall
e accumulated in said account.
All amounts credited to and deposited in said Bond Reserve
ccount shall be expended and used by said Fiscal Agent except
As herein stated, to prevent any default in the payment of inter -
est on or principal of the Bonds, if the moneys in the Principal
And Interest Account in the hands of said Fiscal Agent are insuf-
icient to pay said principal or interest on said Bonds of this issue.
aid Bond Reserve Account may also be used by said Fiscal Agent for
he purpose of redeeming and paying the Bonds herein authorized
rior to their maturities, provided that all of the then outstand-
ng Bonds are called for payment and funds are available to pay
e same according to their terms. If at any time, the amount in
e Bond Reserve Account is less than $55,000, said Fiscal
nt and Trustee will make monthly payments into said account
the manner set forth in subparagraph (b) above until said
count aggregates the sum of $55,000.
SECTION 13. Investments. Moneys in all of the accounts or
funds created by the Ordinance shall be invested by said Fiscal
ent in obligations of the United States Government or agencies
instrumentalities thereof, in obligations guaranteed by the
ited States Government or any agency or instrumentality thereof,
in certificates of deposit or other savings or time deposits
a state or national bank, including Fiscal Agents, in such
ounts and maturing at such times as shall reasonably provide
r moneys to be available when required in said accounts or
. Interest on any Bonds or other obligations held in the
isition Fund or the Principal and Interest Account shall
crue to and become a part of the Acquisition Fund until com-
etion of the aquisition and improvements of the Facility and
hereshall shall accrue to and become a part of the Principal
4kd Interest Account. Interest earned on investments held
the Bond Reserve Account shall be deposited in the Principal
d Interest Account, provided that, if the amount in the Bond
serve Account is less than $55,000, the interest shall be
edited to the Bond Reserve Account, as part of the payment
quired in the last paragraph of Section 12 hereof.
SECTION 14. Payment of Balance in Principal and Interest
count to Tenant. After payment in full of the Bonds and the
applicable fees, charges and expenses of the Fiscal Agents and
Paying Agents and other amounts required to be paid hereunder,
11 amounts remaining in any fund or account created by this
dinance shall be paid to the Tenant as provided in the Lease.
SECTION 15. Covenant to Pay Principal and Interest and
Ike Other Payments. The City covenants that it will promptly
y, or cause to be paid, from funds available for such purposes,
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e principal of and interest and redemption premium, if any,
the Bonds issued under this Ordinance and apply the payments
Basic Rent and Additional Rent provided for in the Lease
the places, on the dates and in the manner provided herein
d in the Lease and in said Bonds and in the coupons appertaining
ereto according to the true intent and meaning thereof. The
incipal, interest and redemption premium, if any, are payable
lely from the revenues received from the fees charged and
ntal received for the use of the Facility (except to the
tent paid out of the moneys attributable to Bond proceeds
the income from the temporary investment thereof and, under
rtain circumstances, proceeds of insurance, sale and condemna-
on awards or payments received pursuant to the Guaranty Agree-
nts hereinafter referred to); the Facility and the net earnings
erefrom, are pledged to the payment of the Bonds and the interest
ereon as provided in Section 2 hereof. The City further
is that it will make, or cause to be made, all other
yments and deposits required hereunder from funds made available
r such purpose under the Lease.
SECTION 16. Covenant to. Redeem Bonds and to Give Notice
f. Any moneys received by said City or a Fiscal Agent
r the purpose of, or which may be used for the purpose of,
ying said Bonds prior to their stated date of maturity shall
deposited in said Principal and Interest Account and shall
applied solely for the purpose of paying the principal of
d interest and redemption premium, if any, on said Bonds.
receipt of any such funds by said City or either Fiscal
ent for said purpose, and on receipt of instructions from the
nant to call said Bonds, the City.will cause the Fiscal Agent
ntrollin g the Principal and Interest Account to, and said
scal Agent shall, in the name of the City, immediately
11 such Bonds for redemption and payment, when the same are
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subject to,redemption, giving notice thereof in the manner
specified as provided in Section 5 hereof.
SECTION 17. Particular Covenants of the City. So long
as any of the principal of and interest on the Bonds herein
uthorized remain outstanding and unpaid, or until payment thereof
s been provided for, the City covenants with each of the holders
owners of said Bonds as follows:
(a) The City will, in good faith, comply fully with all
the terms, provisions and conditions of the Le.ase which require
rmance by, or impose duties on, the City and the City
ill not knowingly permit any default in said Lease to occur
n the part of the City; it will, in good faith, fully and promptly
nforce all of the terms, provisions and conditions of the Lease
hich require performance by,.or impose duties on, the Tenant
in the event of the occurrence of a default, as defined
n the Lease, will, in good faith, exercise all rights and remedies
onferred by the Lease and the laws of th.e State of Kansas
ecessary for the full and complete protection of the security
nd rights of the bondholders and will use its best efforts
o procure a new tenant or tenants for the Facility under provisions
hich will provide funds sufficient in amount to make.'the rental
ayments and other payments which the Tenant is required to
under the Lease, and will deposit the same in the Principal
Interest Account. If the City is unable to procure a new
nant who will enter into such a lease, the City may take
uch good faith action as shall be in the best interests of
bondholders which.may include the sal e of the Facility,
if the Facility is sold, after deducting all costs of the
e, any moneys derived from such sale shall be used for the
rpose of paying the principal of and interest and redemption
emium,_if any, on the B.onds.
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(b) The City will, in good faith, enforce collection of the
rkntal payments and other charges in the amounts and at the
mes set forth in this Lease and will not reduce or cause
o� permit to be reduced the rental payments and other charges
# xed, established and required by the Lease nor change or alter
e time or times when the same are due and payable under the
ase, all as provided in the Lease.
(c) The City will not permit or consent to any change,
.endment, modification, termination or any assignment of the
ase, except to the extent provided therein, and no such change,
endment, modification, termination or assignment, if permitted
the Lease, shall violate the City's obligation under Subsec-
on (b) of this Section.
(d) The City will not consent to any dissolution, liquida-
on, consolidation or merger of the Tenant, except to the
tent provided in the Lease.
(e) Any purchase price of the Facility, any proceeds
condemnation awards, insurance proceeds or other funds intended
r the purpose of paying said Bonds and the interest thereon
provided in the Lease shall be deposited with the Fiscal
ent controlling the Principal and Interest Account and used
lely and exclusively for said purpose. Upon receipt of any
ch funds, to the extent deemed feasible by said Fiscal Agent
d upon instructions from the Tenant to call said Bonds, if
ch instructions are necessary under the provisions of Section
hereof, if said Bonds then be subject to redemption and
yment or as soon thereafter as said Bonds become subject to
demption, said Fiscal Agent shall call said Bonds in the name
the City according to their terms and shall give notice of
ch redemption as provided in this Ordinance. Any such funds
all be used for the payment of the principal of the
nds herein authorized, accrued interest thereon, any
tion premium provided for by this Ordinance and for the
harges of the Fiscal Agents and the Paying Agents for paying
he same.
(f) The City will not, except to the extent permitted
y Section 18 hereof, issue any other obligations payable from
ayments made by the Tenant pursuant to the Lease, or otherwise,
or voluntarily create or cause to be created any debt, lien,
ledge, assignment, encumbrance, or any other charge on said
ayments or on the Facility, except as provided therein, nor
ill it, unless provided for by the terms of said Lease or of
his Ordinance, sell or otherwise dispose of the Facility or
ny part thereof.
(g) The City will, in good faith, cause the Tenant to
eep constantly insured all buildings and improvements from
41[ime to time constituting a part of the Facility and obtain
ther insurance and bonds in the manner and to the extent provided
n the Lease. The proceeds of any insurance policies payable
o the City shall be paid to and deposited with the Fiscal
gent controlling the Principal and Interest Account, as
surance Trustee. Any of the proceeds of such policies shall
used and applied in the manner set forth in said Lease.
(h) The City will use reasonable efforts to cause the
scal Agents to keep adequate books and records relating to
e Facility, which shall be separate and apart from all other
oks, records and accounts of the City or the Fiscal Agents
which complete and correct entries shall be made in accordance
th standard principles of accounting of all transactions relating
o the Bonds and the Facility, and the Fiscal Agents shall
nnually prepare a statement of all rentals received and
expended. Any bondholder or the Tenant or the Original
derwriters, or their agents, shall have the rights at all
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reasonable times to inspect all books, records, accounts and
data of the City or the Fiscal Agents relating to the Facility
or the Bonds.
SECTION 18. Additional Bands.
The City may issue from
time to time additional industrial revenue.bonds to pay for
all or a portion of the cost of purchasing, constructing and
equipping improvements, additions or extensions to the Facility,
which additional bonds shall be in all respects on a parity
with. the Bonds herein authorized, and all such bonds -shall
equally and ratably secured by the pledge and covenants
ontained in this Ordinance, provided the following terms and
onditions are met:
(a) The City shall have entered into a lease or agreement
'ith the Tenant with rentals or payments: at least sufficient
o pay the principal of and interest on such additional bonds
s the same become due, on substantially the same terms and
onditions as the Lease herein authorized; and
(b) The City and the Tenant shall have pledged the Facility,
luding the additions, improvements and extensions thereto
be financed by said additional bonds, to the payment of the
nds herein authorized and the interest thereon; and
(c) The Tenant is not in default (i) in the payment of
sic Rent or Additional Rent due under the Lease, or (ii) in
formance of any other duty or covenant under the Lease; and
(d) The issuance of the additional bonds shall not affect
exemption from Federal income taxation of the interest
the Bonds herein authorized; and
(e) Th -e obligations of the Tenant assumed in connection
th the issuance of the additional bonds do not violate any
ovisions of the Lease and.
(f) The Fiscal Agents and the. Original Underwriter of the
s herein authorized, shall have given their express written
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onsent to the issuance of such additional bonds, which consent
shall not be unreasonably withheld.
SECTION 19. Amendments. The provisions of the Bonds
authorized by this Ordinance and provisions of this Ordinance
may be modified or amended at any time by the City with the
written consent of the Tenant, unless the Tenant is in default
hereunder or under the provisions of the Lease, in which event
such consent shall not be necessary, and the consent of the
s of not less than sixty-six and two-thirds percent
(66 2/3%) in aggregate principal amount of the Bonds herein
authorized at the time outstanding; provided, that no such
fication or amendment shall permit or be construed as per -
pitting: (a) the extension of the maturity of the principal
)f any of the Bonds issued hereunder, or the extension of the
taturity of any interest on any Bonds issued hereunder, or (b)
t reduction in the principal amount of any Bonds or the rate.
)f'interest thereon or (c) a privilege or priority of any Bond
>r Bonds, or (d) a reduction in the aggregate principal amount
)f Bonds, the consent of the holders of which is required for
any such amendment or modification. Any provision of the Bonds
it of this Ordinance may, however, be modified. or amended in
.ny respect with the written consent of the holders of all of
he Bonds then outstanding. Amendments to this Ordinance which
orrect omissions or ambiguities or which add to the security
f the bondholders may be made by the City when agreed to by
he Tenant without the necessity of consent of the holders
f any of the Bonds. Every amendment or modification of a pro-
ision of the Bonds or of this. Ordinance shall be expressed
n an ordinance of the City amending or supplementing the pro
isions of this Ordinance and. shall be deemed to be a part
f this Ordinance. It shall not be necessary to note.on any
f the outstanding Bonds any reference to such amendment or
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fication, if any. A certified copy of every such amendatory
supplemental ordinance, if any, and a certified copy of this
dinance shall be kept on file in the Office of the City Clerk
d shall be made available for inspection by the holder of
y Bond authorized by this -Ordinance, and upon payment of the
asonable cost of preparing the same, a certified copy of any
h_amendatory or supplemental ordinance or of this Ordinance
1 be sent by the City Clerk to any such bondholder or pro-
ctive.bondholder.
The Lease herein authorized may be amended by the City
the Tenant as provided therein.
SECTION 20. Default, Events of Default. If any of the
llowing e.vents occur, it is hereby defined as and declared
be and to constitute an "event of default" within the
aning of this Ordinance:
(a) Default in the due and punctual payment of any interest
any Bond;
(b) Default in the due, and punctual payment of the principal
or redemption premium,.if any, on any Bond, whether at the
ted maturity thereof, or upon any prior redemption thereof,
upon the maturity thereof by declaration under the provisions
Section 22 hereof;
(c) Default in the performance or observance of any other
the covenants, agreements,or conditions on the part of the
ty in this Ordinance or in the Bonds contained or default
the part of the Tenant under the Lease herein authorized
failing to pay or cause to be paid the. rentals provided in
.e Lease or in connection with -the matters referred to in
ction 17(g) and (h) hereof, and the continuance -thereof for
period of thirty (30) days after written notice given to the
.ty by either Fiscal Agent or by the holders of not less than
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ten (10%) percent of the aggregate principal amount of the
Bonds then outstanding.
SECTION 21. Enforcement. The provisions of this Ordinance
shall constitute a contract between the City and the holders
of the Bonds herein authorized, and the holder of any one or
e of said Bonds may sue to recover interest or principal
,hich has not been paid according to the terms of said Bond.
otwithstanding any provisions of this Ordinance to the con-
rary, nothing in this Ordinance shall be so construed as to
uthorize or permit the City to make any contract or to incur
obligation of any kind or nature except such.as shall be
yable solely out of the rentals -from the leased facilities.
holders of twenty-five percent. (250) of the principal amount
f aonds then outstanding may sue in any action, in mandamus,
njunction or other proceedings, either at law or in equity,
o enforce or compel performance of all duties and obligations
by this Ordinance to be done or performed by the City
by the Tenant. or to compel the City to cure, any default
s defined in Section 20 hereof. Nothing contained in this
rdinance shall, however, be construed to impose on said City
ny duty or obligation to levy any taxes either to meet. any
bligations contained herein or to pay the principal of or interest
n the Bonds of the City herein authorized.
SECTION 22. Acceleration in the Event of Default. In
he event the principal of or interest on the Bonds herein
uthorized is not paid according to the terms thereof on the
tated maturity date or on the prior redemption date, or on
ny interest payment date, as the case may be, then the holders
f twenty-five percent (25%) of the principal amount of Bonds
hen outstanding may, by written notice given to the Mayor or
ity Clerk of the City and to the Tenant, declare. the principal
f and interest on all the Bonds herein authorized then outstanding
be due and payable immediately and upon such declaration
ven as aforesaid, said principal and interest shall be im-
diately due and payable, anything in said Bonds or in the
rdinance contained to the contrary notwithstanding. This
ovision, however, is subject to the condition that if at
y time thereafter, all arrears of interest, except interest
crued but not yet due, and all arrears of principal shall
ve been paid in full, then in every such case, the holders
a majority in principal amount of the Bonds then outstanding,
written notice to the Mayor or City Clerk of the City and
the Tenant, may rescind and annul such declaration and its
nsequences, but no such rescission or annulment shall extend
or affect any subsequent default or impair any rights con-
quent thereon.
SECTION 23. Defeasance. When the principal of and all
interest and redemption premiums, if any, on the Bonds herein
uthorized shall have been paid and discharged, then the require-
ents contained and the pledge of revenues and other pledges
made hereunder and all other rights granted hereby, shall cease
nd terminate. Said principal, interest and redemption premium,
f any, shall be deemed to have been paid and discharged within
he meaning of this Ordinance and within the meaning of the
ease authorized by this Ordinance when there shall have been
eposited with the Fiscal Agent controlling the Principal and
nterest Account at or prior to the maturity or redemption
ate of said Bonds, in trust for and irrevocably appropriated
hereto, sufficient moneys, including investments authorized
y this section, for the payment of the principal thereof
nd interest to the date of maturity or redemption, as the
ase may be, and premium, if any, or if default in such
yment shall have occured on such date, then to the date of
tender of such payments, and provision shall also have been
e for all other sums payable under the provisions of this
inance; provided, always, that if any such. Bonds shall be
emed prior to the maturity thereof, the City shall.have
e ected to redeem such Bonds and the Tenant shall have given
A the manner provided by this Ordinance, the instructions
necessary therefor under the. provisions of Section 4 hereof
notice of such -redemption shall have been given in the
er provided by this Ordinance. Any moneys or investments
which at any time shall be deposited with said Fiscal Agent
or on behalf of the City, for the purpose of paying and
scharging any of the Bonds and coupons, shall be, and are
assigned, transferred and set over to such Fiscal Agent
trust for the respective holders of the Bonds and coupons,
such moneys and investments shall be and are hereby irrevo-
c#bly appropriated to the payment and discharge thereof. In-
s.tments, as used in this section, shall mean bills, certificates
o indebtedness, notes, bonds or similar securities which are
d sect obligations of, or the principal and interest of which
e unconditionally guaranteed by the United States of America.
IlIvestments, shall become due prior to the respective times on
WILich the proceeds thereof shall be required, in accordance
wi.th a schedule established and agreed upon among the City,
t e Tenant and the Fiscal Agent at the time of the creation
og such escrow or trust, or the investments shall be subject
redemption at the option of the holders thereof to insure
s{ch availability as so needed to meet such schedule. If, through
l*pse of time, or otherwise, ,the holders of said Bonds or coupons
11 no longer be entitled to enforce payment of their obligations,
then, in such event, it shall he the duty of said Fiscal Agent
f rthwith to return said fundsto the City. All moneys so deposited
with the Fiscal Agent shall be deemed to be deposited in ac-
c rdance w-ith and subject to all of the provsions-contained
this Ordinance.'
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SECTION 24. Payments,Due on Sundays and Holidays. In
ny case where the date of maturity of interest on or principal
f the Bonds or the date fixed for redemption of any Bonds
hall be a Sunday or a legal holiday or a day on which banking
nstitutions are authorized by law -to close, then payment or
nterest or principal and premium, if any, need not be made
n such date in such city but may be made on the next succeeding
usiness day not a Sunday or a legal holiday or a day upon
hich banking institutions are authorized by law to close with
he same force and effect as if made on the date of maturity
r the date fixed for redemption, and no interest shall accrue
r the period after such date.
SECTION 25. COAsen-ts, Etc.' of Bondhol:ders.. Any consent,
quest, direction, approval, objection or other instrument
ired by this Ordinance or the Lease herein authorized to
signed and executed by the bondholders may be in any number
f concurrent writings of similar tenor and may be signed or
xecuted by such bondholders in person or by an agent appointed
n writing. Proof of the execution of any such consent, request,
irections, approval, objection or other instrument or of the
riting appointing any such agent and of the ownership of Bonds,
f made in the following manner, shall, be sufficient for any
f the purposes of this Ordinance and shall be conclusive in
avor of the City, the Fiscal Agents, the Paying Agent and the
enant with regard to any action taken under such request or
ther instrument, namely:
(a) The fact and date of the execution by any person of
y such writing may be proved by the certificate of any officer
any jurisdiction who by law has.power to take acknowledgements
thin such jurisdiction that the person signing such.writing
knowledged before him the execution thereof, or by -affidavit
f any witness to such execution.
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(b) The fact of the holding by any person of Bonds and/or
coupons transferable by delivery and the amounts and numbers
f such Bonds, and the date of the holding of same, may be proved
y a certificate executed by any trust company, bank or bankers,
herever situated, stating that at the date thereof the party
amed therein did exhibit to an officer of such trust company
r bank or to such bankers, as the property of such party, the
Bonds and/or coupons therein mentioned if such certificate shall
e deemed by the person to whom such consent is addressed to
e satisfactory. Such person may, in his or its discretion,
equire evidence that such Bonds have been deposited with a
ank, bankers or trust company, before taking any action based
n such ownership. In lieu of the foregoing, such person may
ccept other proofs of the foregoing as it shall deem appropriate.
SECTION 26. List of Bondholders. To the extent that
uch information shall be made known to the City under the
arms of this section, it will keep on file at the principal
ffice of the Fiscal Agent controlling the Principal and Interest
ccount a list of names and addresses of the last known holders
f all Bonds payable to bearer and believed to be held by each
f such last known holders. Any bondholder may request that
is name and address be placed on said list by filing a written
equest with the City or with said Fiscal Agent which request
hall include a statement of the principal amount of Bonds
eld by such holder and the numbers of such Bonds. Said Fiscal
gent shall be under no responsibility with regard to the
ccuracy of said list. At reasonable times and under reasonable
egulations established by said Fiscal Agent said list may
e inspected and copied by the Tenant or by the holders and/or
vers (or a designated representative thereof) of twenty-five
ercent (25%) or more in principal amount of Bonds then out-
tanding, such ownership and the authority of any such designated
presentative to be evidenced to the satisfaction of said Fiscal
ent.
SECTION 27. Provisions Relating to the Fiscal Agents.
(a) Prior to the receipt of the Bond proceeds pursuant
o the provisions hereof, the Fiscal Agents shall file with
e City Clerk its written acceptance of the duties specified
n this -Ordinance and in the Lease and its agreement to act
n said capacity.
(b) The Fiscal Agents' duties and responsibilities shall
e limited to those expressly set forth in this Ordinance and
der the Lease.
(c) All resolutions, opinions, certificates and other
nstrumentA referred to or provided for herein or in the Lease
ay be accepted by the Fiscal Agents as conclusive evidence
f the facts, opinions and conclusions stated therein and shall
e full warrant, protection and authority to the Fiscal Agents
or any action reasonably taken pursuant thereto. The Fiscal
gents shall be under a duty to examine any such resolutions,
pinions, certificates and other instruments to determine whether
r not they conform, to the requirements of this Ordinance and
Lease.
(d) The Fiscal Agents shall not be liable with respect
o any action taken or omitted to be taken by it in good faith
nd, if appropriate, upon advice of .counsel.
(e) No provision contained in this section shall be con -
trued to relieve either Fiscal Agent from liability for its
wn negligent action, its own negligent failure to act, or its
wn willful misconduct, except that this subsection shall not
e construed to limit the effect of subsections (b), (c) and
d) of this section.
(f) The Fiscal Agents shall have the right to buy, sell,
n, deal or trade in the Bonds or the coupons relating thereto
ndholder and without incurring any liability whatsoever with
spect thereto.
(g) Either Fiscal Agent may resign by an instrument in
iting delivered to the City and the Tenant to take effect
n t sooner than ninety (9Q) days after its delivery, whereupon
the City, with the consent of the Tenant, shall immediately,
in writing, designate a successor Fiscal Agent. Such. successor
F seal Agent shall be a bank, trust company or national banking
a sociation which is a member of the Federal Reserve System
and has a capital stock and surplus aggregating at least Two
llion (_$2,000,OQQ) Dollars. Such -successor Fiscal Agent
all bLe subject to the same 'dutie_s- and obligations and shall
h ve the same rights, privileges and immunities specified in
t s. Ordinance and in the. Lease for the Fiscal Agent. Any
s ich, successor Fiscal Agent shall file an acceptance in the
f rm referred to in subparagraph_ (a) hereof with the City Clerk
w than ten (1 Q ) days of its. appointment.
(h) The Fiscal Agents shall be entitled to payment or
r imbursement for reasonable -fees for its ordinary services
a d all advances, counsel fees and other ordinary expenses
asonably and necessarily made or incurred by it in connection
th its ordinary services, ,all such fees and expenses to be
id by the Tenant as Additional Rent as specified in the
ase.
Ci) The City may, but only with the consent of the Tenant,
4r any reason, remove. either Fiscal Agent or any of its suc-
sors hereunder and appoint a new Fiscal Agent in its place
stead, and auch new -Fiscal Agent shall, when appointed,
b come successor to the powers, duties and obligations conferred
on the removed Fiscal Agent.
(j) The. -Fiscal Agent's.duties and responsibilities shall
i elude those expressly set forth'in this Ordinance and in the
ase and shall further include. those rights, duties, responsi-
ities and obligations which -are. reserved to or imposed upon
City under this Ordinance and the Lease, excepting only
y only be properly and lawfully exercised by or imposed upon
e City.
SECTION 28. Conveyance of Facility to Tenant. Upon
ceipt by the City of the purchase price of the Facility
provided in'the Lease, title to the Facility shall be trans-
ferred and conveyed to the Tenant as -provided in the Lease,
d the Mayor and other appropriate officers of said City are
reby authorized and directed to execute such deeds and other
struments as may be necessary to effect such conveyance
transfer.
SECTION 29. Authorization of Lease. The Facility to
purchased, constructed and equipped pursuant to this Ordinance
d said Lease shall be lea sed to the Tenant under and pursuant
to the Lease dated as of April 1, 1980, substantially in the
rm. attached to thL% Ordinance., wldlch Lease including any
cxanges necessary to correct omissions or ambiguities therein,
ich the officers executing the same are hereby authorized
to make, the Mayor and City Clerk are hereby authorized and
rected to execute for and on -behalf of and as the act and.
ed of the City.
-SECTION 30. Guaranty "Agreement. As and for an express
condition precedent to the issuance and delivery of the Bonds,
ere shall he executed and delivered by Tenant to the Fiscal
ents a Guaranty Agreement dated as of April 1, 1980, sub-
antially in
the
form. now on
file with.
the
City.
SECTION
31.
Severability.
If anyone
or more of the
pants, agreements or provisions of this Ordinance or of
e Lease should be held contrary to any express provision of
Mw or.contrary to the policy of express law, though not expressly
prohibited, or against public policy, or shall for any reason
atsoever be held invalid, then such- covenants. agreements
provisions shall be null and void and shall be deemed separate.
from the remaining covenants., agreements or provisions -of this
dinance or of the Bonds issued hereunder, or of..the Lease.
SECTION 32. Agreements of the City. All covenants, atipula-
ons and obligations, of the. City contained. in this Ordinance
d contained in the Lease shall be deemed to be the
c venants, stipulations, obligations and agreements of the City
td the full extent authorized or permitted by the Act, and
a 1 such covenants, stipulations, obligations and agreements
sliall be binding upon the City and its successors from time
td time and upon any board, body or agency to which any powers
o duties, affecting such covenants, stipulations, obligations
a d agreements, shall be transferred by or in accordance with
lAw, nothing contained in this Ordinance shall, however, be
,strued to impose on said City any duty or obligation contained
ein or to pay the principal of or interest on the Bonds
the City herein authorized. Except as otherwise provided
this Ordinance, all rights, powers and privileges conferred
duties and liabilities imposed upon the City or any officials
reof by the provisions of this Ordinance or the Lease shall
be exercised or performed by the City or by such officers as
may be required by law to exercise such powers and to perform
such duties. No c.ovenant,,stipulation; obligation or agreement
h rein contained or contained in the Lease shall be deemed to
a covenant, stipulation, obligation or agreement of any of-
f�cial, officer, agent or employee of the City in his individual
capacity, and neither the officials of the City nor any officer
e ecuting the Bonds shall be liable personally on the Bonds
o incur any personal liability or accountability by reason
the issuance thereof.
SECTION 33. Performance of Acts. All acts, conditions
things required by the Constitution and laws of the State
o� Kansas, relating to the passage of this Ordinance, to the
i�suance of.the Bonds or to the execution of the. Lease,.to happen,
e ist and be performed precedent to and in the enactment of
s Ordinance, and precedent to the issuance of the. Bonds and
edent to the execution of the Lease have happened, exist
have been performed as so required by law-.
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SECTION 34. Reports; Original Underwriters. The Original
Underwriters, Columbian Securities, Inc., shall not be under
any obligation to any bondholder for any action that it or they
may or may not take or in respect of anything that it or they
may not do by reason of any information contained in any reports
or other documents received by it or them under the provisions
of this Ordinance or the Lease. The immunities and exemptions
from liability of such Original Underwriter hereunder shall
extend to its partners, directors, officers, successors, employees
and agents.
SECTION 35. Further Authority. The officials of the
City, its attorneys, engineers and other agents or employees
are hereby authorized to do all acts and things required of
them by this Ordinance and the Lease for the full, punctual
and complete performance of all of the terms, covenants and
agreements contained in the Bonds, the Lease and this Ordinance.
SECTION 36. Effective Date. This Ordinance shall be in
full force and effect from and after its passage and publication
in the official City paper.
PASSED by the Governing Body of the City of Salina, Kansas,
this day day of �� wf , 1980.
Attest:
City Clerk
Mayor
• SCHEDULE 1
TO
ORDINANCE NO.
AND TO
THE LEASE AUTHORIZED BY THE ORDINANCE
DESCRIPTION OF PROPERTY ACQUIRED (THE "FACILITY")
(a) Real Property and Improvements Thereon.
Tract No. 1:
All that part of Lot Fifty (50) on Fourth (.4th)
Street lying East of right-of-way of spur track of
Union Pacific Railroad, and all of Lot Fifty-two
(52) on Fourth (4th) Street except right-of-way of
spur track of Union Pacific Railroad, all in the
Original Town (now City) of Salina, Saline County,
Kansas.
Tract No. 2:
A tract of land lying North of Union Pacific Rail-
road right-of-way in Railroad Reserve of Jones
Addition to the City of Salina, Saline County,
Kansas, which is more particularly described as
follows:
Beginning at a point that is the intersection of the
North right-of-way line of the Union Pacific Rail-
road and the East line of Third (3rd) Street extend-
ed; thence North One Hundred Thirty-five (135.0)
feet to the South line of Forest Avenue extended;
thence East along the South line of Forest Avenue
Three Hundred Ninety-four and Three -tenths (394.3)
feet; thence South One Hundred Thirty-five and
Twenty-five Hundredths (135.25) feet to the North
right-of-way line of the Union Pacific Railroad;
thence West along the North right-of-way line of the
Union Pacific Railroad Three Hundred Ninety-four and
Five -tenths (394.5) feet to the point of beginning.
1
• •� LIST OF THE PERSONAL PROPERTY WHICH WILL BE ON FILE WITH �
THE CITY
CLERK AS PROVIDED FOR IN SECTION I OF THE ORDINANCE
#80-8786.
PERSONAL PROPERTY
YELLOW VAN MOVERS, INC.
QTY,
ITDI DESCRIPTION
2
Orange Arm chairs
1
Hexagon Table
1
Lamp, Glass Base
1
Green Secretarial Chair
1
Wood Built-in Desk
2
2 drawer green laterial files
1
Olivetti -Underwood Adding Machine
1
Pitney Bowes Postage Scale
1
Remington Rand Lektriever File System
SN #15682, Model #10217-12
1
9' folding table
2
4 -drawer File Cabinets, yellow
1
2A Fire Extinguisher, 5 lb.
1
2.5# 2A Fire Extinguisher
1
2A Soda Acid Fire Extinguisher
1
4 Shelf Wooden Cabinet
1
8 Door Wooden'Cabinet
1
55 Gal. Drum Trash Can
1
Yellow Plastic Chair
1
Black Plastic Chair
1
Latham Time Clock
1
10 Gal. Metal Trash Can
1
Vendo Co. Pop Dispenser
1
Green Chalk Board
1
4 Drawer Steelmaster Storage Cabinet
1
10 Gal. Tropical Fish Tank Complete
1
Black Executive Chair
2
2 drawer File Cabinets
1
Wooden Desk
2
Upholstered Arm Chairs
1
Coffee Table
1
Raymer Model 820 Radio/Paging System
1
Orange Arm Chair
1
Green Steno Chair
1
2 drawer Wood File Cabinet
1
Left Return Metal Desk
1
Fire File
1
Class B Safe #331028
2
Secretarial Chairs, Green & Brown
1
Yellow Straight Chair
2
4' Wooden Table.w/drawer
2
4 drawer File Cabinet
1
Upright Storage Cabinet
1
Paymaster Check Protector SN#8A4492
1
Steelcase Green Secy. Desk, Left Return
1
Metal Single Pedestal Desk
1
Royal 660 Series Electric Typewriter, Model #A11A
2
Billing Card Files, Posting Equip. Corp.
1
Art Metal Black Des-k-w/right return
1
Secretarial Chair Brown
1
Royal Model #A11A 660 Series Elec. Trypwriter
1
Orange Straight Chair
1
Gold 4 Drawer File
1
Wood 14' Ladder
1
Lot Misc. Pads
1
4 Wheel Dolly
1
Lot Wood Pallets
1
55 Gal. Trash Can w/top
1
4 Wheel Dolly
1
2A SA Fire Extinguisher
1
.4 Wheel Dolly
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
3
1
1
1
1
1
1
1
1
2
1
1
1
1
1
2
1
1
1
1
1
55 Gal. Trash Can w/top
Banding Machine Complete
10,000 Lb. Mag.Board
4 Wheel dolly w/pads
SA Fire Extinguisher
Heavy Duty Compressor, w/110 Gal. Tank
5' Ladder
13 Tier Metal Mechancis Parts Bins
Fire Extinguisher
Pressurized Vapor Liquid Cylinder 19101PS
Radial Arm Sears #B61 Saw
Misc. Saws, Levels, Hand Tools
Craftsman Table Saw Model #113,9090 10" Blade
4 Wheel Dollys
4 Wheel Dolly w/pads
Metal 9' Square Heavy Duty Workbench
Fire Extinguisher
Scale - Whse Scale Heavy Duty
Lot HHG Storage Boxes 165
Skil Saw #554 Heavy Duty
Fire Extinguisher
Pallet Jack
Freight Dollies
4 Wheel Whse Dolly
Rol -A-Lift
4 Wheel Dolly
Aluminum Van Ladder
4 Wheel Whse Dolly
Fire Extinguishers
Heavy Duty Truck Dolly
Pallet Jack ROL-IFT Hvy. A1544, 3,000 Lb.
9' Walk board
Forklift
Desk w/2 Drawer File Cab., Formica Top
to make 72" desk
48" Wooden Arm for Desk (Homemade)
Armless Office Chair
Straight Armless Chairs
Ashtray Stand
4 Brick, 3 Board 28" Book Shelves
Desk Billing File
Royal Std. Typewriter, SN#HHE16-6018862
Victor Electric Adding Machine,.SN#10883136
60" Walnut Exec. Desk w/arm
Office Arm Chair
2 Seater Settee
Arm Chairs
End Table
Lamp
4 brick, 3 board 48" Book'Shelves
Royal Standard Typewriter
Remington Rand Adding Machine
50" Metal Desk w/homemade 78" arm
Armless Office Chair.
Arm Chair
Safe 20"x21"x28"
Remington Rand Typewriter
2 Drawer File Cabinet w/78" Formica Top
Starburst Battery Clock
IBM Selectric Typewriter, SN#5817820
Burroughs Adding Machine, SN#40912
GE Coffee Maker
42" Walnut Executive Desk
Arm Chair
6 brick, 3 board, Book Shelves 30"
.Victor Adding Machine, SN#1330-4036
3 seater Divan (Hide -a -Bed) 1 Floor Ash Tray
Arm Chair & Gold 4'x6' Throw Rug
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1.1
1
1
1
1
�1
1
10
1
1
1
1
1
I
1
2
2
1
1
1
4
1
2
1
1
1
2
1
I
2
1
1
1
1
1
1
2
4
127
36
1
7
1
1
1
1
1
1
Small 2 Drawer Desk
"209" Copier Model #57FH, SN#421389
Homemade Stand for Copier
Film Projector, Model #69-0, NS#3050146
Small Wall Lamp
Allied Films on Moving
60" Metal Desk w/45" Arm & 3 Drawer
Arm Chair
Armless Chair
Credenza
IBM Selectric Typewriter SN#9711563.'
Burroughs Adding Machine SN#464233
2 Drawer File Cabinet
5 Drawer File Cabinets
4 Drawer File Cabinets
Hall tree
Lot Office Equipment
6 brick, 2 board, 44" Book Shelves
Metal Typewriter Stand
File Cabinet
Metal Shelves Section (5 Shelves each)
42"X133?x68 "
Wooden Shelves Section (4 shelves) 77"x12"x67"
Broken Adding Machines
Small Metal 2 Drawer File
Yale Fork Lift
Fork Lift Ramp 8'
Sets Fork Extensions for Lift
Steel 4' Ramp
Radial Arm Saw
Crazy Leg Jacks
10'- Mag Board
Berry Floor Pallet Jack
Blue Giant Floor Jack
Set Banding Tools
Inventory Stand
Set Rollers
Mules
Doz. Used Pads
Storage Crates (together)
Storage Crates (torn down)
Set Tire Chains
Small Crates
Used Tires: 7 - 100/20
1 - 11/22/5
1 - 10 hole 100/ZZ Rim
2 - Tire Spacers
New Caps: 5 - 100/20
3 - 100/15
Lot Equipment on Trailer #50888
Lot Equipment on Trailer x`51633
Lot Equipment on Trailer X70564
Lot Equipment on Trailer (61599
Lot Equipment on Trailer #64027
Lot Equipment on Truck #23244
-3-