8550 GO Bonds BC-218(PUBLISHED IN THE SALINA JOURNAL
IWA,re , .31 , 1977)
ORDINANCE NO. 8550
AN ORDINANCE AUTHORIZING AND DIRECTING THE ISSUANCE OF GENERAL OBLIGA-
TION PUBLIC BUILDING BONDS, SERIES BC -218,1977, OF THE CITY OF SALINA,
KANSAS, IN THE SUM OF $6,500,000 FOR THE PURPOSE OF CONSTRUCTING AND
EQUIPPING AN ARENA -TYPE PUBLIC BUILDING IN KENWOOD PARK TO BE USED FOR
RECREATIONAL PURPOSES AND AS A CONVENTION HALL, AND FIXING THE DETAILS
OF SAID BONDS.
WHEREAS, an election was duly held in the City of Salina,
Kansas, on November 2, 1976, at which election there was submitted to
the qualified electors of said City a proposition to authorize the
issuance of general obligation bonds of the City of Salina, Kansas,
under the provisions of K.S.A. 12-1736 et seq., in the amount of $6,500,000
for the purpose of constructing and equipping an arena -type public
building in Kenwood Park to be used for recreational purposes and as
a convention hall, and
WHEREAS, the votes cast at said election on said proposi-
tion were duly canvassed as provided by law and it appeared that a
majority of the qualified electors of said City voting on said propo-
sition voted in favor of the issuance of said bonds and that the pro-
position to authorize the issuance of said bonds was carried by a vote
of 9,649 ballots in favor of said proposition to 7,469 ballots against
said proposition, and
WHEREAS, the governing body of the City of Salina, Kansas,
does hereby find and determine that it is necessary at this time to
authorize the issuance and delivery of all of the general obligation
bonds of said City so authorized for the purpose aforesaid,
NOW, THEREFORE, BE IT ORDAINED BY THE GOVERNING BODY OF
THE CITY OF SALINA, KANSAS, AS FOLLOWS:
Section 1. That for the purpose of constructing and
equipping an arena -type public building in Kenwood Park to be used for
recreational purposes and as a convention hall, there shall be issued
the general obligation Public Building Bonds, Series BC -218, 1977, of
the City of Salina, Kansas, in the total principal amount of $6,500,000
under the provisions of K.S.A. 12-1736 et seq..
Section 2. Said issue shall consist of 1,300 bonds,
numbered from 1 to 1,300, inclusive, each of said bonds being in the
denomination of $5,000. All of said bonds shall be dated April 1, 1977,
shall be numbered and shall become due serially on October 1 in each
year without option of prior payment as follows:
BOND
PRINCIPAL
MATURITY
ANNUAL RATE
NUMBERS
AMOUNT
OCTOBER 1
OF INTEREST
1
- 65
$325,000
1978
4.60%
66
- 130
325,000
1979
4.60%
131
- 195
325,000
1980
4.60%
196
- 260
325,000
1981
4.60%
261
- 325
325,000
1982
4.60%
326
- 390
325,000
1983
4.60%
391
- 455
325,000
1984
4.60%
456
- 520
325,000
1985
4.60%
521
- 585
325,000
1986
4.60%
586
- 650
325,000
1987
4.60%
651
- 715
325,000
1988
4.60%
716
- 780
325,000
1989
4.70%
781
- 845
325,000
1990
5%
846
- 910
325,000
1991
5%
911
- 975
325,000
1992
5%
976
- 1,040
325,000
1993
5.20%
1,041
- 1,105
325,000
1994
5.20%
1,106
- 1,170
325,000
1995
5 1/4%
1,171 -
1,235
325,000
1996
5 1/4%
1,236 -
1,300
325,000
1997
5 1/4%
Interest on said bonds at the rates aforesaid shall be
payable on April 1, 1978, and thereafter semiannually on October 1
and April 1 in each year. Both principal of and interest on said
bonds shall be payable in lawful money of the United States of
America at the office of the State Treasurer of the State of Kansas,
in the City of Topeka, Kansas.
Section 3. Each of said bonds shall be signed by the
facsimile signature of the Mayor and shall have the corporate seal
of the City affixed or printed thereon, attested by the facsimile
signature of the City Clerk. Said bonds shall have interest coupons
attached thereto representing the interest on said bonds, and said
interest coupons shall bear the facsimile signatures of the Mayor
and City Clerk of said City.
Section 4. Each of said
and certificates attached thereto
substantially the following form:
No.
bonds and the interest coupons
and appearing thereon shall be in
UNITED STATES OF AMERICA
STATE OF KANSAS
COUNTY OF SALINE
CITY OF SALINA
PUBLIC BUILDING BOND,
SERIES BC -218, 1977
$5,000
KNOW ALL MEN BY THESE PRESENTS: That the City of Salina,
in the County of Saline, State of Kansas, acknowledges itself to be
indebted, and for value received, hereby promises to pay to the
bearer, the principal sum of
FIVE THOUSAND DOLLARS
on the First day of October, 19 and to nay _r.°_,ares} thereon from,
the date hereof at the rate of ( .) per annum, payable April 1,
1978, and thereafter semiannually on October 1 and April 1 in each ve�-
until said principal sum shall have been paid, upon -jrese,t--aticn and
surrender of the interest coupons hereto attached, as said coupons
severally become due. Both principal of and interest on this bond
shall be payable in lawful money of the United States of America at
the office of the State Treasurer in the City of Topeka, Kansas. And
said City of Salina, Kansas, is held and firmly bound by these
presents, and the full faith, credit and resources of said City are
hereby irrevocably pledged for the prompt payment of said principal
and interest at maturity.
-2-
THIS BOND is one of a series of 1,300 bonds, numbered from
1 to 1,300, inclusive, of like date, denomination and tenor, excepting
number, interest rate and maturity, aggregating the principal amount
of $6,500,000, issued by the City of Salina, Kansas, for the purpose
of constructing and equipping an arena -type public building in Kenwood
Park to be used for recreational purposes and as a convention hall,
by the authority of, and in full compliance with the provisions, re-
strictions and limitations of the Constitution and statutes of the
State of Kansas, including K.S.A. 12-1736 et seq., and all amendments
thereto, and all other provisions of the laws of said State applicable
thereto, and pursuant to ordinances duly passed and proceedings duly
had by the governing body of said City, and this bond and all other
bonds of said series, and all interest thereon, are to be paid by
said City of Salina, Kansas.
AND IT IS HEREBY DECLARED AND CERTIFIED that all acts,
conditions and things required to be done and to exist precedent to
and in the issuance of this bond have been properly done and performed
and do exist in due and regular form and manner as required by the
Constitution and laws of the State of Kansas, and that the total
indebtedness of said City, including this series of bonds, does not
exceed any constitutional or statutory limitation.
IN WITNESS WHEREOF, the said City of Salina, in the State
of Kansas, by its governing body, has caused this bond to be signed
by the facsimile signature of its Mayor, and its corporate seal to be
affixed or printed hereon, attested by the facsimile signature of
its City Clerk, 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, 1977.
(facsimile)
Mayor
ATTEST:
(facsimile)
City Clerk
(FORM OF COUPON)
First Coupon for 12 Other Coupons for 6
Months Due April 1, Months Due October 1
Bonds 1978 and April 1
1
- 715
$230.00
$115.00
716
- 780
235.00
117.50
781
- 975
250.00
125.00
976
- 1,105
260.00
130.00
1,106
- 1,300
262.50
131.25
-3-
Ap ri 1
No. On the First day of October, 19 , )
the City of Salina, Kansas will )
pay to bearer the sum of )
Dollars and ) April 1
Cents, lawful money of the United States of ) October 1, 19
America, at the office of the State Treasurer, )
Topeka, Kansas, being months' interest )------------------
on its Public Building Bond, Series BC -218, 1977,)
dated April 1, 1977, No. ) City of Salina,
Kansas
( facsimile) )
Mayor )------------------
ATTEST: )
(facsimile) )
City Clerk )
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STATE OF KANSAS )
SS.
COUNTY OF SALINE )
I, the undersigned, City Clerk of the City of Salina,
Kansas, hereby certify that the within Public Building Bond, Series
BC -218, 1977, of the City of Salina, Kansas, has been duly registered
in my office according to law.
WITNESS my hand and official seal this
City Clerk
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OFFICE OF THE STATE TREASURER OF KANSAS
I, Joan Finney, State Treasurer of Kansas, do hereby
certify that a full and complete transcript of the proceedings
leading up to the issuance of the within bond has been filed in
my office, and that this bond and the coupons attached thereto were
registered in my office according to law this
WITNESS my hand and official seal.
State Treasurer of Kansas
By
Assistant State Treasurer
---------------------------------
Section 5. The Mayor and City Clerk are hereby authorized
and directed to prepare and execute the bonds hereinbefore described,
and when duly executed and registered, to deliver said bonds to
QL'
1
Stern Brothers & Co., Kansas City, Missouri, and Associates, the
purchasers thereof, upon receipt of the purchase price.
Section 6. The full faith, credit and resources of the
City of Salina, Kansas, shall be, and the same hereby are pledged
for the prompt payment of said bonds and all interest thereon as
the same mature. The governing body of the City of Salina, Kansas,
shall annually make provision for the payment of the principal of
and interest on said bonds as the same become due, by levying and
collecting taxes upon all of the taxable tangible property in said
City at the same time as other taxes are levied and collected, and
said taxes shall be paid to the City Treasurer as provided by law,
and used and applied for the sole purpose of paying the principal
of and interest on the bonds herein authorized.
Section 7. This ordinance shall take effect and be in
full force from and after its passage and publication once in the
official City newspaper.
PASSED by the Commission of the City of Salina, Kansas,
this 28th day of March , 1977.
ATTEST: 11
A�L-'L.6241—
C it y C Ferk
STATE OF KANSAS )
SS.
COUNTY OF SALINE
I, D. L. Harrison, City Clerk of the City of Salina,
Kansas, do hereby certify that the above and foregoing is a true
and correct copy of Ordinance No. 8550, adopted by the governing
body of the City of Salina, Kansas, on the 28th day of
March , 1977.
-5-
�JCf ��'I�'C7iyy�t✓�
D. L. Harrison, City Clerk