96-4976 Auth Note BidsRESOLUTION NUMBER 96-4976
A RESOLUTION AUTHORIZING THE FINANCE DIRECTOR
AND CITY CLERK TO OBTAIN BIDS FOR NOTES FROM PROSPECTIVE
PURCHASERS FOR IMPROVEMENTS TO THE MAGNOLIA ROAD AND
INTERSTATE 135 INTERCHANGE.
WHEREAS, the City of Salina, Kansas ( the "City") , is
proceeding with an improvement consisting of the construction of a new
highway interchange including bridge, roadway, on and off ramps,
drainage structures, retaining walls, traffic control devices, lighting
and other related improvements at the intersection of Interstate 135 and
Magnolia Road ( the "Improvements") ; and
WHEREAS, the City intends to finance a portion of the cost of
the Improvements through the issuance of general obligation bonds,
and pending the issuance of such bonds, thought the issuance of the
City's bond anticipation notes (the "Notes") ; SO NOW, THEREFORE
BE IT RESOLVED by the Governing Body of the City that
the Finance Director and City Clerk are hereby authorized to obtain
bids for the Notes from prospective purchasers of the Notes and to
present the results of such bids to the Governing Body for approval
in connection with the authorization by the Governing Body of the
Notes.
Adopted by the Board of Commissioners and signed by the
Mayor this 12th day of February, 1996.
(A-k�
ohn Divine, Mayor
[SEAL]
ATTEST:
Judy D. ng, City Cl k